What You Should Look for in a Returns Management Application
There are a lot of things that go into managing your business’ returns. Creating RMAs (Return Merchandise Authorizations), tracking returns, restocking inventory, and much more all need to be considered. It can end up being a big consumer of both time and money. A great solution to simplify returns management is a returns management application. A returns management application should save you a lot of time and money spent on returns, and should make returns a stress-free operation. Here’s what you should look for in a returns management application to find the best solution for your business.
- RMA’s- Your returns management software should definitely simplify the creation of Return Merchandise Authorizations. A return merchandise authorization is a number issued to a customer that enables them to return their product. Your application should make it easy to create and issue RMAs to customers whose returns have been approved.
- Tracking- Tracking the status and resolution of returns is extremely important. You need to make sure that the product makes it from the customer back to you and into your inventory, and that the customer is reimbursed for their purchase. Your returns management application should track the status of your returns, and also the resolution. You should be able to check the status of a return in seconds, and see if the customer has been reimbursed yet.
- Generating return shipping labels- Return shipping labels are a great tool, and something that the customer will greatly appreciate. Return Shipping Labels are a shipping label for when a customer wants to make a return. It’s a great idea to email your customer these labels so they can print them out and ship the product as soon as possible. Your returns management software should be able to create these return shipping labels and send them out when a customer requests a return, saving you a lot of time making them.
- Return inventory back to stock- If you sell a product it will leave your inventory, so when a customer places a return you need to put the item back in your inventory. Your returns management application should be able to return the item back to stock, so you don’t need to worry about faulty inventory data because of returns.
- Manage restocking fees and refunds- There are a number of transactions that take place when a customer returns a product. You have to give the customer a refund, and if you charge a restocking fee you have to take that out of the refund. A restocking fee is usually a percentage of the cost of the product to help offset the cost of returns. Your returns management software should calculate the restocking fee and the total refund the customer will then receive. An application that manages restocking fees and refunds together is a big timesaver.
- Customer Support- Your returns management software should provide integration with Customer Support systems. Returns involves a lot of customer support, so you need your application to integrate support to streamline the returns process. The combination of all the features of a great returns management application integrated with Customer Support makes for a great, very useful tool to simplify your business’ returns management!
For an application that gives you everything listed above plus much more, be sure to check out the Bizelo eRetail Returns Management App and simplify your returns management!