What is An Enterprise Ecommerce Platform?
In every type of business there are various levels that dictate the size beyond simple terms such as “small business” and “corporation”. Each industry has its own unique set of criteria for determining what size category a business fits into. For some restaurants, the size classification is determined either by overall revenue or by the number of covers that are completed each year. For some digital marketing firms, size is determined by the team size and the yearly revenue.
Due to the differences in size, each business size classification has different problems. A small business may not necessarily need payroll services that a larger business would. Likewise managing hundreds of employees would not make sense to do exclusively via skype. There are different tools that are used at each level to maximize growth, minimize wasted time, and overall improve the business efficiency. Ecommerce is no different.
What exactly is an enterprise ecommerce business?
Defining an enterprise ecommerce business is no easy task due to its relatively new status of categorization. Roughly, it is a large business that does at least $250,000 – $1,000,000 a year in sales it can be categorized as an enterprise level business. At the same time, it isn’t necessarily only a business that has high revenue. An enterprise business can also be one that offers a myriad of different solution/products and as a result has diversified income streams. Though its easier to simplify, the emerging understanding of ecommerce is outpaced by its growth and ever changing market.
A few examples of enterprise ecommerce software are Shopify Plus, Magento Enterprise, and BigCommerce Enterprise.
What is an enterprise ecommerce software?
An enterprise ecommerce platform is essentially the basis of the business. It is the platform with which orders are taken, the services or products are hosted, and the order is processed. It can be likened to the home base of your entire web business. What an enterprise ecommerce software does is a bit more complicated. It can:
- Act as The Payment Processing Center
At an enterprise level most likely more than one individual is responsible for looking after the financials. Enterprise solutions are custom created to fit the company’s needs. All offer a solution for keeping processing costs low. It’s usually around 2-3% max per order and allows merchants to take unlimited orders per month. Its value is in the simplified process on the backend of reviewing orders and manage customer experience.
- Help Manage Inventory
When orders are as frequent as dozens to hundreds a month varying in size and shipping location, managing inventory can become complicated. Most enterprise ecommerce software also offer on the backend a system for alerting inventory managers when its time to reorder more of a particular product or products that are getting low and can automate the order request.
- Help optimization and marketing efforts
Most ecommerce software at the enterprise level also offer a marketing suite that keeps track of a number of factors for remarketing and optimization. The goal of any enterprise level software is growth. Many monitor factors of interest ranging from visitors, abandoned carts, most bought products, most viewed products, least viewed products and more. It provides information to marketing managers that will make it easier to understand what aspects of the sales process or marketing strategies are successful and which can be improved upon to make your marketing budget go farther and farther.
- Be used by multiple employees working on different aspects
One of the better features is that it provides the opportunity for many managers to monitor and collaborate on any aspect of the website. This can be used by design/optimization teams for the purpose of isolating points of the website or sales funnel that need to be improved.
What is the main benefit of using an enterprise level solution?
Ecommerce software at a lower level do not offer the same customized features that are offered by enterprise solutions. As a result, less control over the site itself and the sales process can lead to not having the same opportunities to make milk your traffic to its maximum potential. To put it simply, an enterprise ecommerce solution acts as a magnifying glass for finding out the finer details of your business that could use improvement. At the same time, it makes the more repetitive tasks quicker and easier to get through. This may not necessarily mean loss, but it can mean the loss of easily captured chances to raise the amount spent by each customer.
On the nonprofit oriented side of things, the time saved by using an enterprise solution’s streamlined backend customized to your business can be better spent on other activities. The worst aspects of an enterprise level solution are almost exclusively relegated to their costs. A monthly subscription fee is the standard and start off at the lowest a price approximately in the triple digits a month. Usually the higher cost is reflective of the more dedicated the support and attention to your business.