Track Your Remittance: New Browntape feature
The best part about selling online on multiple channels is getting the rewards – payment. But payment procedures on e commerce sites are not as easy as they sound. A large company like Flipkart sells around 10 products per minute, and on a good sales day, makes more than Rs.600 crores in a day. Moving this big a capital around is not a joke, especially because it has to be distributed between a large number of sellers after deducting commissions, costs, taxes, etc. individually. Online sites then have a simpler method to follow through with these transactions – remittance cycles.
As a seller, you have a remittance cycle of generally 15 to 30 days. At the end of every cycle, you get paid for all the products you sold within that cycle. Sellers generally have to sign up with the website’s preferred payment gateway (Flipkart – PayZippy, Amazon – PayPal, etc.). We previously made an exhaustive list of all payment gateways that you can subscribe to in India. The payment gateways have their own convenience fees that they charge you for using them. This would generally be different from the website commission charged to you. Apart from that, you may also be penalised for not complying with certain company policy. Your final remittance at the end of the cycle reflects the net amount you receive after deducting all these aspects.
Browntape’s Track Your Remittance Feature
Although it all sounds well and good with the remittance policy, there can be an alarming lack of transparency in the actual transaction. Payment gateway convenience fees change with the time period and the amount to be transferred. Penalty policy changes from website to website. There may also be the issue of cashback or withheld payments.
If you are an online seller subscribing to multiple channels, it can be quite a difficult task to sift through all the transactions and keep a track of your exact remittance for every website, especially because the remittance cycles for each website would vary.
This is where Browntape’s Track Your Remittance feature comes in handy.
What Does it Do?
Track Your Remittance feature from Browntape gives you the complete breakdown of your remittance at the end of each individual cycle for every sales channel that you subscribe to on your dashboard. This breakdown is easy to analyse and is stored, per cycle, into your Browntape account, for easy access and reference. You are notified at the end of every cycle for each of your channels and the capital is reflected in your net profits, which you can analyse according to your convenience. This means that your money is transferred to you with complete transparency.
Browntape is the only multi channel order management system in India that offers a detailed breakdown of the remittance cycle. For more information about this feature and other queries, get in touch with Browntape and try our 30-day free trial. We are India’s leading order management solutions providers, and we are always happy to help.