A retail solution requires three distinct entities to share information. It is the smooth flow of information between these three entities that ensures the success of the organization.
It is not enough that each of these entities has the information, it is important that they have the most up-to-date information. For instance, if your supplier is able to see up-to-date information about product stock levels, they can plan their production and procurement better. This is not beneficial only to your supplier but provides benefits for you too.
Here is another scenario. You receive a new shipment of a product and the price is lower than what is shown on your website. You want this information to flow from the supplier into your system and on to the customer who can make a more informed decision, and make it quickly.
In a world where online shoppers open multiple tabs on their browsers and compare rates across portals, if your system does not support such smooth flow of information and require every update to be made individually, you will lose business to websites that can provide customers with better deals.
Such an automated system reduces the risk of data entry errors by reducing the data entry points within the system. Furthermore, you can insert checkpoints to ensure that the data already in the system is correct and free of errors.
However, this does not mean that you give up control over the flow of data. A good CMS will let you control how the information flows through the system. It will also let you set up check and balances so that your business interests are taken care of as the data flow to the various entities in the system.
Furthermore, you can set up notifications for specific events. This reduces the dependence on emails and other forms of communications this helps to reduce administrative overheads.
A good CMS will be able to interact with external systems easily. This lets you bring suppliers onboard easily. It also reduces investment on training and reduces the learning curve. By using standard data standards, it becomes easy to transfer data in to and out of the CMS to systems used by vendors and suppliers.
Furthermore, implementing a CMS helps make the system consistent and easy to use across the organization. Everybody will be seeing not just the latest information and but the same information across all departments. This ensures that decisions are taken based on current status rather than outdated information. This can only be good for the organization.
To sum up, a CMS allows organizations to standardize information and share the information across departments and with external entities such as suppliers. Such a system helps to leverage the benefits of making decisions based on current information. This eventually translates into a better experience for the customer.