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Reconciliation of orders and returns has been a major pain point for brands that sell across marketplaces
UniReco helps minimise revenue leakages by tech-enabling the reconciliation process for sellers
9th July 2024, New Delhi: Unicommerce’s latest solution UniReco has tech-enabled the error-prone reconciliation process that brands & sellers periodically undertake with marketplaces. As a payments and returns reconciliation tool, UniReco ensures that the earnings of sellers and brands are fully realised and are not lost through inefficiencies, errors, or other forms of leakage in their sales across marketplaces.
UniReco powers the reconciliation process for products ordered and returned, automates fee computation for different marketplaces and flags any payments or receipts that need a brand’s attention. The solution also calculates and reconciles any rebates, incentives, etc. that various marketplaces offer as additional cushion to brands and retailers. This solution is designed to work across different fulfilment models such as fulfilled-by-model and flex model among others.
For the month of May 2024, the solution has reconciled over 2 lakh order items for various brands that work with Unicommerce.
Launched in December 2023, the tool helps in revenue optimization and involves strategies and practices aimed at maximising the efficiency of revenue generation and retention for brands selling across marketplaces.
Unicommerce offers a comprehensive suite of SaaS solutions that provide end-to-end management of e-commerce and retail-tech operations right from the moment an order is placed till deliveries, returns and now payments reconciliation.
Urban Monkey, a streetwear clothing brand that sells across multiple marketplaces has deployed UniReco to address its reconciliation requirements.
Mentioning about the success of the solution, Yash Gangwal, Founder of Urban Monkey said, “There are hundreds and thousands of transactions that we need to map and ensure that our revenues are well-recognized. UniReco provides us the ability to deal with all the details, enhancing the accuracy of our e-commerce operations.”
Healthy Food brand Alpino has been using UniReco. Its products can be found on various marketplaces and thus the brand requires an efficient way to track its receipts and payments from across these platforms.
Talking about the application of UniReco, Chetan Kanani, Co-founder & CEO of Alpino Heath Foods Pvt Ltd said, “E-commerce is complex, no matter how simple it seems to our customers. UniReco not only addresses some of the most crucial pain points including return reconciliation issues with marketplaces, but also assists in maintaining our customers’ loyalty.”
Kapil Makhija, MD & CEO of Unicommerce commented in this regard, “We are committed to building the best-in-class solutions for all e-commerce and retail related operational needs of our customers. Our continuing R&D efforts focus on building solutions that simplify e-commerce for all. ”
With a growing Annual Recurring Revenue (ARR) as of the quarter ending September 2023, Unicommerce has achieved a 750 million+ Annual Transaction run-rate, serving over 3500 customers, managing 8000+ warehouses, and processing orders from 1900+ stores through its platform.
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“Unicommerce eSolutions Limited is proposing, subject to receipt of requisite approvals, market conditions and other considerations, to make an initial public offer of its equity shares and has filed a draft red herring prospectus (“DRHP”) with the Securities and Exchange Board of India. The DRHP is available on the websites of the Company at www.unicommerce.com, SEBI at www.sebi.gov.in as well as on the website of the book running lead managers, IIFL Securities Limited and CLSA India Private Limited at www.iiflcap.com and www.india.clsa.com, respectively. Investors should note that investment in equity shares involves a high degree of risk. For details, potential investors should refer to the DRHP, including the section titled “Risk Factors”.
