Selling on Amazon India is Easy!

It is a straightforward process to start selling on Amazon India or, as they call it, SOA or sell on the Amazon program. Amazon India's website (https://sellercentral.amazon.in/) has extensive resources to help business owners set up a seller account, with a detailed breakup of various fees charged by them, such as referral fees, closing fees, weight handling fees, and other fees based on the added services. 

Amazon India also offers a performance-based benefits program called the STEP program. Amazon provides an app for sellers to track their performance. So when the volume of transactions is small, the sellers find it easy to do the payment reconciliation, arrive at the accurate revenue figure, and calculate profitability.

Large and Complex Nature of Transactions Delays Reconciliation

However, as the business picks up and the transaction volume increases, the in-house accounts team takes a long time reconciling the sales transactions on Amazon India. 

Huge Volume of Transactions

Manually tracking a huge number of orders, returns, replacements, and canceled returns and matching the payment received from Amazon in the bank account becomes a nightmare for accountants. Maintaining complicated worksheets using Microsoft Excel spreadsheets or accounting software is insufficient.

Dynamic Pricing

Dynamic pricing with varying schemes, offers, coupon codes, and discounts adds to the complexity.

Different Modes of Fulfillment

Different modes of fulfillment, such as “Fulfilled by Marketplace” and “Fulfilled by Merchant” have different fee structures.

Different Modes of Delivery

Different modes of delivery and delivery partners (i.e., logistics service providers) make it tough to reconcile the delivery status reports received by Amazon and from the delivery partners.

Varying Payment Cycles

Amazon seller’s website (https://sell.amazon.in/fees-and-pricing) says they are eligible to get paid seven days after the order is delivered. But they also allow a period when the customer can return the product or request a replacement. This further complicates the payment cycle. 

Ensuring Revenue Accuracy

Managing the accurate reconciliations of the voluminous e-commerce transactions on marketplaces and aggregators such as Amazon, Myntra, Flipkart, Ajio, Meesho, Myntra, Swiggy, Zomato, Big Basket, and many others is made easy with the help of the RPA Bot or the robotic process automation bot such as Reconcify.

How Does This Intelligent Bot Reconcify Save Time with Guaranteed Accuracy?

Watch the animation video to understand how the Reconcify bot works!

Here is a live example of the time saved by our clients

Reconcify client - D2C Home Furnishings Brand

The use of Reconcify freed up the accounts team’s time by more than 800 man-days per month

and reduced the monthly book closure time from 7 to 4 days.

Using Reconcify - the intelligent AI-enabled software tool - is the most accurate, economical, and fastest way to ensure the automation reconciliation of e-commerce transactions. 

Reconcify helps save time and money spent on manual reconciliation, improves the accuracy of the results, and plugs revenue leakages.

If you want to understand how Reconcify can help your organization, please register here for an online demo. 

The image used in the blog is from freepik