Update in Progress: Leveraging Tech for Your E-Commerce Business

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For companies and individuals that buy and sell goods and services over the Internet, technology may already feel like second nature, but, with so much innovation within the sector, it’s always a good way to check up on ways to digitally transform your business - here are a few to consider.

Task Management
Task management apps and software have exploded in popularity over the past decade, and it’s not difficult to see why - whether you’re looking to organize more efficiently or segment your workload, there are a number of tools that can help you stay on top of commitments and get through the day’s tasks without forgetting anything. For e-commerce businesses, task management solutions are especially useful when it comes to keeping on top of inventory management, customer support and shipping & delivery.

Business Process Management (BPM)
Business Process Management refers to the optimization of workflows to facilitate digital transformation. For example, by automating menial tasks, you can invest more resources on acquiring new customers or refining your data processes. If you’re unsure of how to approach business process management, start by investing in a software that will allow you to regularly monitor your operation effectiveness and take steps to improve input & output.

Accountancy Software
Although not directly linked to e-commerce, accountancy software can help run a business and help you maintain responsible financial upkeep. With the right program, it’ll be easier to set (and keep to) budgets, balance subscriptions/contracts, send/receive invoices and track spending over time. Many programs are available for free and feature cross-compatibility, so you can update your account on both desktop and mobile.

Proprietary Development
Given the ease of proprietary development, it’s no wonder that so many businesses have started to build apps or software of their own. With a handful of skilled developers (or a couple hired from one of the freelance platforms), it’s possible to create a customer-facing, company-branded application that will help guide users towards your products/services. Take the time to research how other e-commerce brands have achieved this and consider the advantages it might provide to your own.

Paid Digital Marketing
Whatever you’re selling, one of the most efficient ways to market yourself is now via social media or other paid avenues - Google Adwords, for example, represents one of the most cost-efficient ways to reach new customers. Not only is this an affordable way to advertise your goods, you will also have more control as to who, where and how you target consumers, meaning you can customize content for high-value leads or match certain adverts to certain individuals.

Inventory Management
For those of us working in e-commerce, inventory management is a necessary evil. Fortunately, technology has developed to aid with forecasting, reporting, stock tracking, and more. The right program will automatically log any goods sold/used and record this on your balance sheet. Many also double up to support barcode scanning, management of serial, batch, lot numbers and expiry dates and bundling support.
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The e-commerce industry is abuzz with new technological solutions that can improve or optimize your business. If you want to stay ahead, it’s important to carry out plenty of research and embrace innovation into all areas of your company.