#BigSaveNovember with Vin Reco – Claim Your Money Back from Marketplaces
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It’s that time of the year. The annual extravaganza of sales is back!
India’s online festival sales such as Amazon’s Great Indian Festival Sale and Flipkart’s Big Billion Days Sale have begun. Marketplaces have left no stone unturned to woo customers with the best deals and discounts.
If you are selling on marketplaces during this festive season, you can expect a growth of 5X in your revenue. But with increased sales, you can lose up to 3% of your hard earned revenue due to marketplace leakages, under multiple scenarios like commission overcharge, shipping overcharge, and pick-pack overcharge.
Fret not. We can FIX it with Vin Reco’s #BigSaveNovember!
What is #BigSaveNovember?
Brands and Retailers who sell on multiple marketplaces and fulfill huge number of orders on a monthly basis, trust existing marketplace payment practices to compensate them in a fair manner for sales and returns of the products.
But, they may not have effective mechanisms in place to check all the glitches in a marketplace’s payment system. These lead to severe leakages in revenue that can amount to significant profit deficit.
You could be LOSING MILLIONS IN TRANSACTIONS during the festival sale!!
With Vin Reco – Vinculum’s Payment Reconciliation System, you can now find payment leakages on marketplaces, claim your money back and save big this November.
As a #BigSaveNovember offer, we will provide your last 3 years’ marketplace leakage amount for FREE.
PRO TIP: Grab your detailed leakage report worth INR 18,000 at a discounted rate of INR 4,999 only till Nov 30th.
How does Vin Reco leakage reports look like?
Vin Reco reports dashboard provides scenario-wise report for each order received. Here are the scenario-wise reports:
All Orders Report
This report provides insights about the orders and charges deducted by the marketplace. It explains the amount a seller should receive after all deductions.
For example, if a seller receives INR 4,250 for a product listed for INR 5,000; the report will show the reason why INR 750 is deducted.
Pick and Pack Overcharge Report
This report helps to identify the amount overcharged under the Pick and Pack fee. It shows both – Amazon levied pick and pack charges and actual pick and pack charges. With this report, the difference is calculated which can be claimed from marketplaces within the prescribed time-frame as per their policies.
Shipping Overcharge Report
This report contains two scenarios:
- The weight handling charge levied by marketplaces which can be reconciled on similar logic of Pick and Pack.
- The shipping location or area i.e. the regional/zonal/national location where the product is shipped and the charges on it.
The system identifies the overcharges in each case and gives you the recoverable amount as shown in the sample report below.
Commission Overcharge Report
This report gives information on the actual commission and commission charged. Then the difference i.e. overcharges can be claimed from the marketplace.
For example, in Amazon, as a product/SKU is listed, it provides its own ASIN (Amazon Standard Identification Number) through which the product category is tracked and as every marketplace has defined percentage of commission for particular product category, the system processes this information and calculates the exact percentage and accurate amount to be paid as commission fees. Any discrepancies in the charged and the actual amount can be claimed from marketplace under the time frame given in the policies.
Replacement without Reimbursement Report
This report identifies the leakages in the case of replacement orders. When buyers requests for replacement of an order, many scenarios arise under which the seller should get a refund from the marketplace (either a replaced product or compensation for the product).
But, there are certain cases when marketplaces fail to provide the replacement and even the compensation. This scenario is very complex to identify as a new Return ID is generated for the product.
Note: Vin Reco tracks this Return ID and matches it to parent Order ID.
Inventory Missing Report
This report gives the list of missing inventory. When a customer orders a product from the marketplace, the seller ships the product using 3PL or via marketplace fulfillment service depending upon his mode of business.
If for some reason, the customer cancels the order and requests for the return of product, marketplace is supposed to deliver the order back to the seller. The leakage in terms of missing inventory arises when marketplace fails to deliver the product back and doesn’t notify the seller. This report gives a list of such inventories.
The column – ‘FBA Reimbursement’ in the report below is empty. It shows that seller has neither got the returned item back in warehouse even after a waiting period of 45/60 days, nor has he got any reimbursement. In short, it’s a loss of money as well as the original product itself.
This report shows the increase in your business profits. It contains the details of each case raised by Vinculum’s Dispute Management Team i.e. the CaseID, Case Raised Date and Time, Case Subject (scenario) and link for the same, Resolution Status, Reimbursement ID and the Reimbursement Amount that will be credited in your seller account.
We share this report on a monthly basis with all our clients to maintain transparency in our work regarding the dispute management services.
To Wrap Up
Each marketplace has its own commission structure, payment terms, fees, penalties and other charges. Without an effective accounting and reconciliation process, it’s easy to lose track of your payments.
In fact, around 1% to 3% of GMV is lost into leakages every year due to inefficient tracking.
So, you can either lose millions or save them to scale faster. Now you do the math!
We can help you find leakages in your financial transactions of orders, inventory, and returns.
Use Vin Reco – our payment reconciliation system to track leakages and claim your money back from marketplaces. As a special #BigSaveNovember offer, we will give your leakage amount on marketplaces at no cost.
*This offer is valid only till 31st December 2019.
An MBA marketing graduate from IIM, Akash Jain works at Vinculum group, where he manages product marketing, content and social media marketing. An ardent learner of new things, he is passionate about scaling up marketing operations, implementing new-age marketing automation and customer psyche.
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