Apr 25, 2024
Product
How To Optimise Your Order Processing Using AI
Whether you're a small startup or a large corporation, optimising your order processing can streamline operations, reduce errors, and ultimately improve your bottom line.
Artificial Intelligence (AI) is rapidly transforming many sectors of industry, and wholesale business-to-business (B2B) is no exception. It is becoming increasingly crucial for businesses to embrace AI, to get ahead of the curve. Already AI-powered tools are revolutionising the way wholesale operations are conducted by boosting accuracy and increasing overall efficiency.
In this article, we'll explore how you can use AI tools like REKKI Connect to dramatically enhance your order management and order processing practices.
What is order processing?
Let’s start by looking at what we actually mean when we talk about ‘order processing’. Order processing encompasses a range of tasks – every action taken from the point that a customer sends an order to the picking, packing and then shipping of that order.
It involves order verification, payment processing, inventory management, and shipping coordination. For wholesale B2B businesses, it is perhaps the most crucial element of overall order fulfilment.
Effective order processing requires carrying out these tasks quickly and accurately. A good order processing experience ensures your customers receive the right products, at the right time. Which in turn leads to improved customer satisfaction and repeat orders.
In many cases, order management systems and order processing software (often powered by AI) can be used to make the process more efficient.
How do I optimise my order processing using AI?
AI-powered tools can help you enhance your order processing by automating routine tasks and facilitating smoother communications. Features such as automated ordering systems, real-time inventory tracking, and predictive analytics enable suppliers and buyers to manage orders more efficiently and with fewer errors.
For instance, some companies allow users to place orders directly through an app, which then automatically updates inventory levels and provides predictive data to prevent stock-outs.
A standout company in this area is REKKI, who provide innovative solutions for improving order management in the wholesale B2B sector. Their latest tool REKKI Connect can automatically process orders from any platform, without disrupting the ordering process itself:
REKKI Connect uses AI technology to read, match and process orders automatically
It can read any type of order - whether it has been placed via email, voicemail, or sent through an online platform
The tool extracts the relevant data and processes it without any need for manual data entry or human intervention
This reduces order processing time by 90% on average, making the overall process vastly more efficient
How does AI solve the most common order processing issues?
For wholesale B2B suppliers, there are several issues with order processing that are widespread in the industry:
Too many ordering platforms. Most suppliers have to deal with hundreds of daily orders coming in a huge variety of formats - via WhatsApp, voicemail, email, as well as all the different ordering systems (e.g. MarketMan, Procure Wizard, BirchStreet).
Order processors at full capacity. Manual order processing is extremely time consuming, leaving little to no room for business growth without taking on more staff.
Error prone manual processes. Processing orders can be a tedious and repetitive process, and it’s often prone to errors – especially when orders arrive in non-standardised formats and from outdated versions of the catalogue.
Expensive integrations. The order volume per platform or ordering system is not high enough to make integrating with them all separately worthwhile – it quickly gets very expensive, and means you are obliged to deal with lots of 3rd parties.
Among AI solutions, REKKI Connect stands out as the most effective at addressing the above problems. Since Connect can automatically integrate any order from any platform, it completely removes the headache of having orders coming in of all different shapes and sizes.
Customers can continue ordering however they like, on whichever platform they choose - and the orders flow straight into the supplier’s invoicing system. Without the need for a human to spend time deciphering the message and manually entering the data.
As an AI-based system, Connect is constantly learning and improving, and never makes the same mistake twice. It also cuts out any manual errors such as mismatched products, misread dates and typos. The accuracy rate on order translation is an impressive 99.9%.
As well as saving hours of processing time and steadily eliminating mistakes, using Connect also frees up order processors’ time so they can focus on adding value elsewhere in the business – especially providing better customer service and supporting growth.
One supplier, who has been using Connect for the past 6 months, found that it enabled them to grow their customer base by 30% in that time and saved them over £50,000 by eliminating the need to integrate with other platforms.
Why is optimising order processing so important?
Traditional order processing in wholesale often involves manual data entry, phone calls, and paper-based tracking, which can be time-consuming and error-prone. These inefficiencies not only increase operational costs but also affect service levels, potentially leading to delayed deliveries and unsatisfied customers.
Optimising the process therefore can have huge net benefits for your business:
1. Improved customer satisfaction. Efficient order processing is the cornerstone of an excellent customer experience. Fast and error-free order fulfilment leaves a lasting impression on customers, building loyalty to your business.
2. Cost savings. Streamlining order processing not only enhances customer experience but also translates into substantial cost savings for your business. By minimising errors and fine-tuning inventory management, you reduce the need for manual intervention and lower operational overheads.
3. Stand out from the crowd. In a fiercely competitive market, the speed and reliability of your order processing can make all the difference. Customers have plenty of choice, and by prioritising efficiency you can stand out from the crowd, helping you attract and retain more customers.
4. Inventory control. Effective order management and order processing plays a pivotal role in maintaining the right inventory levels. Accurate processing enables real-time inventory tracking, preventing large excesses or shortages of stock.
Not only does optimising order processing make you more popular with your customers, it helps you reduce costs and boost your profit margins.
In conclusion
AI-powered tools like REKKI Connect represent a significant advance in the way wholesale B2B operations are managed. By embracing this technology, businesses can improve their order processing efficiency and reduce costs, thereby staying competitive in a rapidly evolving market.
Want to automate your order processing with REKKI and 10x your processing speed? Learn more about REKKI Connect here