Control Order Fulfillment with MapMyChannel’s "Hold Order" Feature
Are you facing loss in revenue in the eCommerce business due to fake orders? Want to manage credit and payment issues effectively to avoid financial frauds in orders? Do you want to cater to customers effectively? MapMyChannel has recently launched the "Hold Order" functionality in its powerful integrations. It empowers the eCommerce sellers to put orders on hold to check the authenticity of the orders to minimize losses arising from fake orders. They can also make better order fulfillment decisions and offer better customer service using this feature. Let us have a closer look at the Hold Order feature in detail and how it can be utilized in various cases.
Introducing "Hold Order" Feature in MapMyChannel
"Hold Order" feature is an amazing functionality that allows the eCommerce sellers to not begin order processing as soon as the order is placed. This is why MapMyChannel has added this feature in its multi dynamic integrations to help sellers optimize eCommerce fulfillment. There are multiple reasons and use cases where holding an order saves the operational orders and generates more revenue. They can hold orders for a specific time and after proper authentication only, they can start the order processing. This enhances order management system and makes eCommerce fulfillment more profitable.
Significance of Hold Order in Improving Order Fulfillment
Imagine this scene and try to recall if this has ever happened to you!
An eCommerce seller got an order from one of its sales channel and invested all the resources to fulfill the order. It got the product from the warehouse, packed it and then coordinated with the third party logistics provider to deliver the order. It also provided the tracking number to the customer and made all the necessary entries in the accounting, prepared invoices and deployed dedicated resources for each stage of eCommerce operation. What happens if, after the order is set for delivery, the seller comes to know that the order turned out to be fake or it had an incomplete delivery address or a contact number. In any of these cases, the eCommerce sellers suffer from revenue loss. This is where the "Hold Order" becomes important as it allows the eCommerce sellers to hold the order processing for some time and begin fulfillment only after the authenticating the order properly.
Navigating the Hold Order Benefits in Detail
Hold Order feature has a great significance in eCommerce fulfillment and order management. Here are the key benefits of Hold Order feature in improving the order management system, increasing revenue and meeting customer needs.
1. Avoid Fake Orders by Authenticating Orders
This is the major benefit of Hold Order functionality as it helps them identify the authenticity of the orders by looking into the information filled and payment done by the customers.
2. Accurate Inventory for Profitable Order Fulfillment
Holding orders due to any operational reason is a good decision to decision to maintain the accurate stock of the items. It is because the item that was utilized to fulfill a fake or an incomplete order, it could have been utilized to fulfill a genuine order that would actually bring revenue to the business. Hence, holding an order helps the sellers keep the inventory accurate for profitable order fulfillment.
3. Enhanced Customer Experience with Updated Orders
Sometimes it happens that the customer changes mind in between the order fulfillment process, so holding order for a particular time can actually be quite beneficial. Sellers can save time and resources by not initiating the order fulfillment process immediately. The customer might change the product or increase or decrease the quantity of the product. So a seller can responsibly deliver the updated order by utilizing the hold order functionality.
4. Cost Control by Canceling Fake Orders
Well obviously, if the sellers avoid investing resources in fake orders or orders without payment or incomplete information, they can control operational costs and save a big amount from the budget.
5. Increase Revenue by Delivering Genuine Orders
If the eCommerce sellers can increase revenue using the Hold Order functionality as it helps them deliver the genuine orders from the customers.
When Should Sellers Hold Order?: Exploring Best Use Cases
There are multiple use cases where the eCommerce sellers can effectively use the Hold Order feature. Let us understand the several places where the sellers can utilize this feature to make better decisions in terms of order fulfillment.
1. Address Verification: Know Where to Deliver the Order
Many times it happens that the customer does not fill the address or fills an incomplete address. In this case, there is no point in fulfilling such an order as it will not get delivered due to address issues. Hence, sellers can hold such orders.
2. Payment Not Confirmed: Check Before Delivering
Sellers can confirm the payment and the payment method before initiating the order processing. To do this, they can hold orders for a specific time and check if the payment is confirmed. Later, they can release the order for delivery.
3. Payment Not Done: Avoid Catering to Suspicious Orders
When the customer places an order without payment, the sellers must put such orders on hold and wait for the payment. Once the payment is authorized, they can initiate the order processing.
4. Verification of Credit Limit: Check Customer Worthiness
Today we have many credit options that allow us to buy products without making an instant payment. If the customer purchases the product through a credit card, the seller has to accept the order without the payment. However, in such a case, they can still utilize the hold order feature and check the credit limit of the payment source provided by the customer.
5. Product Substitution: Cater to Your Customers Well
Holding an order is a good idea because the customer might change the mind and order a different product. Here, this feature helps cater for your customers efficiently.
6. Product Not Available: Ask for Some Time from Buyers
There is no need to cancel the orders if it is not available. If you are sure that the product will be available after a specific time in the inventory, you can hold order accordingly and make a good impression on your customers simultaneously.
7. Fulfill High Valued Order: Never Lose Sales Opportunity
This use case is similar to the one in which the product is not available. So, suppose a seller has got an order where it has to deliver 5 bats. Another order asks for 5 bats and 5 balls while in the inventory it has exactly 5 bats and 5 balls. It is the simple business acumen that the higher valued order should be processes first. Using Hold Order, they can put a hold on the less valued order which can be delivered later.
How to Enable Hold Order Functionality with MapMyChannel?
So now after discussing everything about the Hold Orders, let us see how the sellers can implement it in 3 simple steps.
STEP 1 : SELECT THE SALES CHANNEL
The first step is to login to MapMyChannel and reach the main dashboard. Now you have to click on Integrations where you can see all the sales channels integrations that you have made. You have to click on the green button which can be found in the Action tab in front of the respective channel.
STEP 2 : SCROLL DOWN TO ORDER WAITING TIME
Now, just scroll down a bit on the edit page and look for the Order Waiting Time section.
STEP 3 : CHOOSE AN APPROPRIATE TIME
From the drop-down menu, select the appropriate time for which you have to hold the order. The hold order time limit can vary from 60 minutes to 72 hours.
STEP 4 : SAVE THE CHANGES
Finally, click on the Save button and you are done with the required Hold Order setting.
Redefine E-Commerce Fulfillment with Hold Order Feature
Every eCommerce seller wants to cater to the customers that bring revenue and help grow his business. Hold Order feature comes with this functionality that helps the sellers deliver orders effectively without compromising on their loss. MapMyChannel has now enabled users who use its efficient integrations.
So, integrate today with MapMyChannel and utilize the Hold Order functionality with ease.
Contact Us to know more about this feature and our dedicated team will assist you deploy this feature and enhance your eCommerce business.
