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Payment Reconciliation
Streamline Payment Reconciliation across Ecommerce Marketplaces to Boost Profitability
Ecommerce marketplaces are of strategic importance for many sellers. The prime reason is that their products reach millions of potential shoppers from across the world who frequent these marketplaces. In addition, sellers also have an incredible opportunity to boost growth and profitability and improve their brand visibility. Reconciling payments from these marketplaces, however, is a major challenge for many of them. The issue is that payment terms, commission structure, return policies, fees, penalties, and other related charges differ across marketplaces. Therefore, tracking and reconciling payments from multiple marketplaces proves quite overwhelming, as a result of which many sellers simply rely on the payment practices of marketplaces. Nevertheless, this approach results in sellers often incurring losses or leaving money on the table, resulting in reduced profits. Naturally, this precipitates the question: Are you making as much money as expected from your ecommerce venture?
