Technology is rapidly expanding in the blink of an eye. If automation was yesterday, there is AI and metaverse today. What is new today could be outdated tomorrow because inventions and discoveries are taking place at a much faster pace in line with growing demands and interests. After all, who thought artificial intelligence and virtual reality could be ruling the world once?
Direct selling business is one example of how businesses have transformed over the years backed by innovation and technology. The direct selling community thus witnessed a major paradigm shift with a steady inflow of people with novel concepts and thoughts. This impacted engineering direct selling software that supports this rapidly transforming business covering every minor aspect of its functioning and structure.
How efficient should direct selling software be?
Unlike a buyer and seller in the normal retail business, direct selling businesses have a larger network of distributors who navigate the business to various regions and boundaries. For this reason, the network of customers is also spread vastly across borders. Let me take you through key features and use cases that Epixel MLM Software has curated and developed over the years for our esteemed clientele across the globe.
Direct selling businesses have numerous MLM business plans and packages to cater to a large category of their customers. From MLM binary plan to unilevel plan, matrix plan, board plan to monoline plan, stair step plan, and every other compensation system, every plan has a specific set of requisites based on its characteristics. For instance, a binary MLM plan software will be tailored to break down the complexity of the business and work with ease. Similarly, having a stable MLM back office integrated with advanced features is essential for a direct selling business to be well-established.
Over the years, with changing customer demands and interests, we have made instrumental innovations in developing scalable solutions in both web and mobile versions to manage any number of downlines and level commissions. This has been proven to be one of the most hassle-free solutions for our customers to deal with their distributor force.
MLM back office software features for a profitable business
The MLM back office features of competent direct selling software can cover your business from all ends. From being highly customizable depending upon the businesses’ requirements to being accessible for admins and distributors easily and hassle-free, it has all the features that can help the business flow easily despite terrors and tremors. The fundamental MLM back office software features that can aid the ebb and flow of a direct selling business are
Compensation plan management
Payment gateway integration
Genealogy tree management
Reporting and analytics
Compensation plan management
Managing compensations based on each direct selling company's business models and policies requires an extensive and meticulous framework. Direct selling software with a structured compensation plan management could help network marketing and MLM companies build, track and manage bonuses and commissions with ingenious compensation tools that ensure a quick turnaround and assured results.
Multilevel commission tracking
The direct selling software has to be helpful enough for businesses to manage commission reports and bonuses, giving a clear picture of payout and withdrawal requests and the status of remittance for distributors within the MLM structure. Every report generated by each member can be viewed in real-time and hassle-free. It should also deliver commission plans, bonuses, overrides, and rank advancement requirements.
A fully-featured shopping cart and ecommerce integrated MLM platform with inventory management as a third-party integration leaves no stone unturned by blending high-end security and safety for your business transactions. It can also take care of the online storefront, an elaborated product catalog, payment processing, order management, and hassle-free returns and refunds.
Learning Management System (LMS)
A direct selling software, as much as it focuses on enhancing the business, its prime focus should be on enhancing the distributor’s experience with the business. Distributor engagement has got quite a lot in improving the distributor’s journey with the brand ever since the distributor is onboard. Learning Management System or LMS is an innovative platform through which distributors could strengthen their skills and abilities both professionally and personally. With LMS integrated into direct selling software, content management, course creation, gamification, social learning, and social media integration could be done with ease resulting in better distributor performance and productivity.
The network marketing business structure is indeed a complex framework where numerous categories of people are involved. In order to easily jot down the hierarchy of the structure from distributors, sponsors, immediate downlines, referral downlines, etc, a genealogy tree is the best way. It can draw an outline of the organization’s relationship between each individual in the direct selling organization and also the sales, bonuses and commissions, and packages bought by each individual. A genealogy tree viewer enables distributors to view the sponsor team tree and give quick insights about members, their sponsors, current rank, sales volume, and date of joining. Overall visualizing and managing an MLM hierarchical structure, distributors and downlines are possible with a genealogy tree viewer for an entrepreneur.
Direct selling software has to be proficient enough to provide sophisticated strategies and techniques to build robust customer relationships and retain them effectively for a longer period through effective customer relationship management (CRM). From lead scoring to an automated follow-up, the lead management platform helps businesses manage leads through a centralized system. Marketing automation comes under the same umbrella that can automate a whole lot of business processes. In line with this comes loyalty management that can help engage distributors and customers through rewards and benefits.
Payment processing features
To intensify payment safety and security, common secure payment gateways can be integrated as third-party integrations into intelligent direct selling software. Through the platform, members could transfer funds to and from their multiple wallets among their peers. They could also deposit funds from e-wallets, external payment sources like credit cards, or even direct bank transfers making payments and transfers as transparent as possible. With this feature, transaction tracking, fraud prevention, recurring payments, and international payments can be done in a jiffy.
Maintaining the product inventory perfectly could be quite a task. However, with direct selling software that has novel features enabling effective product inventory management would be a breeze. It also takes care of reordering stocks, analyzing stock levels, and timely fulfillment too. Product inventory, warehouse management, supplier management, managing purchase orders with multi-location support, etc will be taken care of by the inventory management system.
Reporting and analytics
A robust reporting and analytics feature can enhance the overall business performance and sales volume through efficient sales tracking. The feature can help MLM and network marketing businesses analyze their performances and find out possibilities to improve to newer levels. It can also give a clear insight into distributor activities, sales volumes, and overall performances of individuals and teams. Advanced reporting and analytics features can help generate flawless reports with which distributors can search and filter using various criteria and export reports to desired formats. Sales and commission reports, statistics, and other important KPIs that are deciding factors of an MLM business can also be generated with this feature.
Your network marketing business could go global with network marketing software that gives you essential features to internationalize your business with multiple language options. Top-of-the-line tools and services help MLM businesses scale newer heights right from the beginning. Major scalability features include multi-language support, handling of numerous users, auto-scaling, integration support, and customization according to business requirements.
Security and compliance
A cutting-edge direct sales software gives prominence to brand credibility and transparency that its KYC system is GDPR compliant and ensures that user accounts are genuine and prevent account duplication or other malpractices. It should also have the most updated security features like data encryption and multi-factor user authentication. To ensure excellent security and services, the software should also perform occasional security audits. Automated compliance monitoring or ACM is yet another advancement that will help organizations ensure that their business is staying compliant with every federal and state law, regulation, and amendment.
Support and maintenance
Beyond its innovativeness, what should draw a direct selling software closer to its clients right from startups to billion-dollar enterprises is its ability to cover every possible aspect required for the smooth sailing of the business, from smaller nitty gritty to major integrations and customizations. Round-the-clock technical support, proactive monitoring, regular updates of software and bug fixes, data backup and restoration, training, and onboarding, ticketing system, etc are a few of the features that can efficiently manage the software supporting its users.
The software development and engineering sector is reinventing itself with the rise of modern innovations. As a result, direct selling software has to be result-oriented to help distributors and customers from across the globe to manage their business from anywhere in the world. An efficient MLM back office software should aid a distributor regardless of their level of knowledge and education. Less complex, user-friendly, sophisticated, and innovative software can help network marketing businesses revamp their potential with the most advanced features that are tailored for the benefit of the business.
- An efficient direct selling software
- MLM back office features
- Compensation plan management
- Multilevel commission tracking
- Ecommerce integration
- Learning Management System (LMS)
- Genealogy tree
- Lead management
- Payment processing features
- Inventory management
- Reporting and analytics
- Scalability features
- Security and compliance
- Support and maintenance