Order management System means software which brings efficacy in keeping track of orders and keeping it in a suitable way. The software is a fantastic aid in entering the orders provided by clients. The orders could be given by any means. It can be through phone, it may be the data entry system or it may be via an electronic mail. The order management system when incorporated encompasses various modules to efficiently process an order. OMS can help giving advice about products. The OMS will encompass the stock information like the availability of a specific product or the sourcing of this inventory.
Prestashop Order Edit module will also include marketing actions, order processing, purchasing, order entry, receiving, data analysis and fiscal such as accounts receivable and accounts payable. An integrated order management system thus is quite powerful tool to analyze and process orders. It helps companies to bring effectiveness in its own actions. The telecommunication companies by way of instance use the system in order to process customer information, for appropriate billing, accounts maintenance and so forth. Retail firms on the other hand use it for the purpose of stock maintenance, packaging, transport, information about the orders given by the consumers and so forth.
Now days, the companies are using the software to process financial securities. The companies have the ability to update the orders with the support of the system. The OMS automatically updates the database when an order is executed. The firms have the ability to get the entire information associated with an order. OMS helps in several other financial functions also. For instance- Split transactions between stocks and dividend. Financial functions like ‘underwriting’ is efficiently carried out by the usage of the order management systems. There are five elements which encircle the order management system for the securities and other financial transactions. It includes of portfolio modeling, trading blotter, post trade support, it helps the clients to connect with the agents. The order management System is a really effective tool for people who wish to perform the business functions easily. The complexity in the procedures can be smoothed out using the system. A number of businesses have been able to reduce the time by implementing the system. This management system is truly a benefit that lifts the enormous confrontations usually predicted by the physical folder entry and prevalent instructions and in imprisoning the customer related data.