Symphony RetailAI named a leader in Order Management Systems in 2020 IHL report

Order Management, the key to success in omni-commerce. Where do you rank? Are you set up for success?

It’s no surprise retailers are struggling with order fulfillment. Technology in this maturing space is quickly becoming a priority for retailers to survive in their current state – and move to a more profitable state.

In our recent Viewpoint, The Omnichannel Imperative, we examined the key areas retailers need to focus on for effective omnichannel operations:

  • Overcoming inhibitors to agile response to massive disruption
  • Lowering fulfillment costs and improving shelf availability
  • Empowering store associates for in-store order execution

Success in these areas depends on having the foundation for viewing channel information and inventory simply within a retail organization. We looked at this from the perspective of the retail grocer, understanding that their issues are extremely challenging and were exposed even more during the pandemic. It’s very costly to support all channels and dissatisfaction with retailers ability to do so in the market is high.

The market becomes more and more competitive every day and the pressure on retailers to up their game when it comes to serving the customer is constant. So how do you compete with the big companies? How do retailers, especially grocers, balance margins and stay competitive? A new study from IHL Group’s Retail Executive Advisory Program highlights this challenge and gives guidance to retailers looking to support omni-commerce via their analysis of the OMS market.

IHL releases the 2020 research study, The Order Management Market, to recognize software leaders in the space

In the 2020 report, IHL highlights the market, suggests tips for retailers looking to invest to help with omni-commerce and recognizes the technology leaders that are providing transformative technologies, depth, breadth, and AI advancements for the lowest TCO. We are proud to have been named a Tier 1 Leading vendor in this report.

“The foundation for a successful Unified Commerce strategy for a retail enterprise is a highly capable and configurable order management system (OMS).

 

Unified Commerce, with a foundation built upon OMS, acts as an architectural construct to overcome the constraints caused by channel evolution The payoff is tremendous and given the very thin IT budgets retailers work with. The last 6 months, more than any in the history of OMS, has highlighted the need for broad and robust OMS functionality.

 

For quite a few retailers, OMS was and will continue to be the lifeline between business success or failure.”

IHL Group, The Order Management Market, 2020

If you are lagging in digitalization, there’s no time like the present to act. Retailers are re-architecting systems to support e-commerce.  They’re creating a strong digital core that links with various areas of supply chain and considering technologies that show faster time to value. Implementations in this space are longer than other technologies so  you want to make sure strategies are well thought out and aligned to move you in the right direction, but that also get to value and profitable growth within a year. With this approach, organizations are not waiting years to see the benefits of their labor.

The IHL Report reveals the state of the OMS market landscape in detail so that retailers can understand drivers and barriers that are transforming the industry. In fact, IHL projects enormous growth over the next 4 years in the worldwide Order Management Systems market. They estimate the market to grow from $800m in 2019 to more than $1.5b in 2024.

 

As part of their examination of the market, IHL identifies key trends and drivers as well as barriers to OMS implementations. One of the greatest drivers of retail transformation in 2020 was, of course, COVID-19. However, there are a lot of other factors at play when evaluating order management. Among the top considerations is the ability to handle all data – customer, product and supplier – in a central solution, thus enabling a “single version of the truth” across the supply chain. Further to this point, the sudden (and necessary) shifts in buyer behavior during COVID drove retailers to quickly adapt to managing orders across multiple channels. The end result is that profitability today is directly tied to retailers’ ability to connect all channels to engage and meet the expectations of a vastly different customer.

“Data collected so far shows margin losses of between 4.2 – 8.2 points when the customer journey is not optimized. This is not sustainable going forward for retailers in the FDCM segments, so we expect they will be devoting considerable energy to optimizing these journeys going forward. OMS will play a big part here.

IHL Group, The Order Management Market, 2020

If you are a retailer looking for order fulfilment options and want to take an elevated position, this a “must read” for guiding you to plan your next move. Access the report on the IHL website.

Symphony RetailAI named ‘Leading Vendor’ with Tier 1 OMS software for Food/Drug/Convenience

IHL Group ranked more than 15 of the top OMS software providers by revenue and Symphony RetailAI ranked as a leader in in the food, drug and convenience space. We placed in the upper right quadrant when measured by Relative Strength and Growth/Direction/Resilence.

“Retailers are investing in order management to turn their stores into a competitive advantage and fulfill orders from anywhere,” said Jerry Sheldon, VP of technology, IHL Group. “Having a single order management system that allows for shipping from the warehouse, pickup at store, or simply traditional store fulfillment is key to not only surviving, but thriving in the future.”

This recognition from IHL Group illustrates our commitment to providing retailers the best solutions as they embrace unified commerce to drive profitable growth. With our long experience in the solution space and a focus on fresh item management expertise, our order management solution is a comprehensive, highly configurable and flexible way for retailers to achieve success in today’s omnichannel world.

“IHL predicts, those vendors with OMS, along with a full suite of solutions, will take an elevated position within the Independent Software Vendor ‘pecking order’ of their prospective clients due to Board level visibility that OMS now garners.”

IHL Group, The Order Management Market, 2020

As a provider of an integrated platform, we are helping our retail customers improve the consumer experience via an order fulfillment solution that provides enterprise, real-time inventory visibility, distributed order management and omnichannel fulfilment capabilities. Find out more about how we are delivering the most comprehensive suite of solutions with a laser focus on fresh.

Read the press release for more information.

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