Inventory Shrinkage and Tactics to Protect your Stocks!

Inventory Shrinkage and Tactics to Protect your Stocks Effectively!

In the enormous eCommerce industry, if you want to run your business successfully, you have to escape the situation of inventory shrinkage and apply some of the spectacular strategies or tactics to protect your stocks. As a seller, you must have experienced that you can not fulfill your customers’ demands if there is insufficient inventory. Inventory shrinkage affects your eCommerce business drastically. It will always be a hindrance to your business growth.

So there is no other way apart from handling it efficiently. If you cannot handle your inventory, you won’t be able to secure your stocks either. If you are new in this industry and do not have any idea about inventory shrinkage, this blog is for you. Here you will know exactly what inventory shrinkage is and what strategies you can implement to protect your stocks. However, to escape this situation, you can take the help of some inventory management software such as eVanik OWS. It can help you avoid the situation of Oos (Out-of-stock) by providing a centralized inventory feature.

Definition of Inventory Shrinkage

Before going any further, knowing what inventory shrinkage means is essential, as many of you may not be aware of this term. Well, inventory shrinkage refers to the situation where your actual inventory count is less than your accounting has recorded. It clearly means that something has gone wrong, either a human error or theft. Usually, it happens because of human error, shipping damage, or theft. You can get into this situation because of vendor fraud, mistakes in matching the inventory with your accounts, and several human errors in receiving or sending the stock deliveries. It doesn’t matter how it happens; as a seller, you need to know the root cause of inventory shrinkage to prevent it from happening again in the future.

What Could be the Effect of Inventory Shrinkage on Your Business
Inventory shrinkage can hurt your online business in many ways. Not paying attention to inventory can cause heavy damage in terms of generating revenue and making a solid customer base. Here we will mention some of the crucial effects of inventory shrinkage.

Can Hamper Your Overall Revenue

Suppose you buy thousands of apparel to sell on various marketplaces from a manufacturer, and hundreds of them get damaged or disappear every month. What will happen next? Well, you are right it can hamper your overall monthly revenue. The motive of every business is to generate significant revenue, but if you fail in attaining that somewhere your motive of doing this business will also get hampered automatically.

Effects Customer Satisfaction

Customer satisfaction should be the ultimate goal of any business. It can not be done without fulfilling their orders on time. But how will you fulfill their requirements if the product is not available in your stock? At this time, customers have to face the out-of-stock situation, and they can buy the identical product from your competitors and may not return to you in the future. In the situation of inventory shrinkage, you won’t be able to track how many products are left in your stock. In another way, we can say that you are selling products blindly without knowing the exact number of your inventory.

It can Deteriorate Your Reputation

Here you need to think from a customer’s perspective; suppose if you are looking for a specific product and buying it from an authenticated seller, but it shows that the product is not available in stock, what will you do? You will find other sellers and purchase identical products from them. Similarly, if your customers face similar situations frequently, it can ruin your reputation in the marketplaces. Out of the stock, the situation can somehow get controlled and is understandable for customers to some extent. But suppose, if damaged or broken products get delivered to your customers due to the inventory shrinkage. In that case, it can drastically affect your business and can be the reason for your downfall. Good work always takes time to gain recognition, but one lousy work can spread like fire.

Tremendous Ways to Protect Stocks from Inventory Shrinkage

Every Product Variant must Have an SKU

SKU refers to the stock-keeping unit for every product, consisting of several letters and numbers. It helps provide unique identification to every product and helps keep an accurate stock record. If each of your products has an SKU, it allows all the human hands, from warehouse staff to you, to track inventories more effectively. In this way, it can become easier for you to keep track of each of your products and avoid the situation of inventory shrinkage.

Always Buy Items from a Reliable Source

Being an online seller, it is quite important for you to buy products from a reliable source only. If your vendors or manufacturers are not able to provide you with the stocks on time, then it can again put you in the situation of inventory shortage. If your products are already listed on various eCommerce platforms and are about to get out of stock, you will obviously rely on your suppliers. But if they won’t be able to fulfill your demands on time, then it will cause a considerable loss to you. So it is best to choose reputed and reliable manufacturers or suppliers. Apart from this, you also need to organize your purchase in terms of their real-time position. Suppose it is in transit, late, or gets delivered to you. In case of late or delayed orders, you need to take the follow-up from suppliers.

Take Help of an Inventory Management Software

It can be the best way to prevent the situation of inventory shrinkage. Today there are various inventory management software available in the market. They can help you in managing Inventory in an accurate manner. It can get integrated with your system and help you in managing your inventory across various eCommerce platforms. In this regard, you can take the help of eVanik OWS. It provides you inventory report as well to have clarity on your inventory.

Conclusion

Thus, in this way, you will be able to have control over inventory shrinkage.
No one can deny that the eCommerce industry is evolving every day. To survive in this industry for a more extended period of time, you have to minimize the risk of inventory shrinkage. It is not only harmful to your conversions but your customer relationship as well. An exceptional inventory management software leads to a well-organized warehouse, which also diminishes the chance of theft. The accuracy of data and insights can provide you with a clearer picture of the availability and unavailability of the product. All these facts ultimately lead you to generate revenue from your online eCommerce business.

Top Startups Overcoming Barriers of Early Stage Business!

Prominent Leading Startups Who Overcome the Obstacles of Early Stage Business!

Every Business has its own journey; if it is a startup, one can go through several engagements, conversion, and retention challenges. However, various companies have started their businesses as startups and now have become leading startups. If you see their pathway, you may find it much more resilient to accomplish your business goals. Specifically, in the eCommerce industry, every business model whether it is B2C, B2B, C2C, or D2C, faces daily challenges such as winning the trust of customers, stock management, accounting management, etc. These are several aspects of the eCommerce business that can put you in a difficult position.

However, these problems can be resolved with the help of an automated powerful eCommerce management software such as eVanik OWS. It can help you in resolving these fundamental obstacles of your eCommerce business. In this blog, you will learn about several prominent eCommerce ventures that have started their journey as a startup but have beautifully resolved all the obstacles coming their way and made their strong presence in the market. Here you will also get to know the challenges you may face as a startup company.

Major Challenges as an eCommerce Startup

Talking about the stats, there are more than 150 million startups in the world today. If we talk about India, on average, 10 to 15 new startups are emerging every day. However, it is not about the rising numbers, it is about the survival in this industry. So it doesn’t matter how you have started your business and how much you have invested in it; it can only survive when you have the capabilities to overcome the challenges and obstacles efficiently. Let’s quickly check out the challenges that may come your way to success.

Intense Competition

The eCommerce industry is quite fierce and competitive. You are not the only one trying to make your presence here. Some other giants are already there that have a solid customer base and credibility in the market. There are various options for customers already existing in the market; why would they make a purchase from a new business? They will not visit you until or unless you are not offering a promising product to them. So, in such a scenario, along with introducing a new, unique, robust product, you also need to study the strategies of your competitors closely.

The competitive environment of the eCommerce market keeps the startups on their toes, as there is no margin of error available. That is why startups need to play their game strategically. To gain the much-needed recognition, you may have to take the help of the best eCommerce management software such as eVanik OWS. It provides you with backend support that can make your operations effortless and saves your time so that you can focus more on your competitors and mark your own presence in the market.

Financial Management

Financial management is an essential aspect of any business. You must understand the fact that when a business expands, it becomes more critical to manage your finances accurately. If you don’t know the steps of your cash flow, you won’t be able to make enough revenue. Establishing a secure payment system, efficient bookkeeping, and integration with various marketplaces. In order to compete in this industry, you need to be cautious about managing your finances and should take the help of any robust accounting software for eCommerce such as eVanik OWS. It offers seamless accounting integrations with various accounting and financial ERPs such as Tally, Zoho Books, and others

Customer Satisfaction

Whether it is eCommerce or any other business customers mean everything, that is why it is imperative to provide them the best service. Always remember that “customer is the king” winning the trust of your customers is the essential part of any business. Customer satisfaction is the vital challenge that businesses in general and startups, in particular, are facing today.

If you want to make your online business successful, you have to make a robust customer base. Offer them excellent products and a delightful shopping experience. If you compromise on any of these aspects then you must be aware that the customers are smarter than you, and you should be prepared to lose the customer. Ignoring customer satisfaction is definitely a ‘NO’ to mark your recognition.

Some of the Most Astonishing Leading Startups

Myntra

Myntra has become a frequent shopping destination for customers all over India. It’s majorly known as the fashion eCommerce website. It was founded by Mukesh Bansal, Ashutosh Lawania, and Vineet Saxena in 2007. The head office of Myntra is situated in Bengaluru. With a vast customer base, it has become one of the prominent eCommerce websites for sellers to sell their products. Today, who doesn’t know about Myntra, but the success they have achieved doesn’t happen overnight. They have worked hard with an intelligent strategy and with the help of advanced software. Their journey is undoubtedly phenomenal.

But if we talk about their challenges, initially, sellers have faced many challenges in managing their inventory on this platform. Because they were new to this industry, they didn’t know much about stock management. For instance, any new startup can face this situation, but today as a startup, you have the option to use any powerful inventory management software available in the market. It can provide you with all the information regarding your stocks, whether how many products are in your stock and how many you need to refill.

The Body Shop

The compelling Journey of The Body Shop is such an inspiration for every new startup. Today it is one of the leading cosmetic brands in the world. It is a British cosmetics, skincare, and perfume company founded by Anita Roddick in 1976. The Body Shop took time to make its market presence, but it has achieved the customers’ trust and is known for its excellent products.

It is serviceable in approximately three thousand locations all over the world. They have slowly improved their conversion rates by analyzing customers’ behavior on the website. Apart from that, during the establishment period, this company faced significant challenges in creating its market presence among its biggest competitors, such as Loreal, Lush, Weleda, etc. So what they did was start producing chemical-free products and totally different from their competitors.

Chumbak

Chumbak is a prominent home decor and lifestyle brand in India. Vivek Prabhakar and Shubhra Chdda founded it in March 2010 to create fun and colorful Indian souvenirs. It has grown into a lifestyle brand with locations in Bengaluru, Mumbai, and Delhi. It has its flagship store in these locations as well. Customers can place an order from their website as well as from their stores. They always wanted to improve customer engagement as they scaled up their Business. They resolved their product discovery and conversion challenges and successfully increased their conversion by 14%.

But if we talk about their struggle, it has been really tough for them to attract customers towards their products in their initial period. They have launched entirely unique souvenir designs and slowly converted themselves into a lifestyle brand by offering footwear, bags, wallets, and other home decor products. It took time, but slowly they became successful in attracting customers with their designs and the bright colors they use for their products. Today this company sells approximately 38 categories of various products.

Conclusion

So these were some of the prominent leading startups that gradually evolved their Business on digital platforms. You can closely analyze their journey and then find some compelling strategies to apply to your Business. If you want to start your business on a smaller scale, you can mark your presence on several eCommerce websites as a seller and then slowly expand your Business to the next level.

This process requires a lot of focus, solid strategy, hard work, and automated eCommerce software to ease the several initial steps of your Business. If you want to start your journey as a seller, you can take advantage of some powerful eCommerce management tools such as eVanik OWS. It can help you with inventory, accounting, payments, returns, and shipping as well. It easily integrates with your system and automates these processes to minimize the various human errors.

Precise Guide for Online Sellers to Sell Their Products on Myntra!

Precise Guide for Online Sellers to Sell Their Products on Myntra!

Online shopping has become one of the pleasurable and integral parts of daily activities. Most eCommerce websites have launched apps that allow customers to surf their preferred channel and buy their desired products without any hassle. They can even choose their payment mode as per their convenience. With the emerging eCommerce industry, famous brands are also moving their physical stores to online channels.

The eCommerce jungle consists of many prominent platforms, and Myntra is one of them. It is generally famous for selling apparel, beauty products, footwear, and several electronic items. Most consumers use this platform to buy a variety of clothing. This preeminent platform has a solid customer base that provides a tremendous opportunity to sellers to sell their products and generate decent revenue. You must choose this platform if you plan to sell similar products as Myntra’s existing sellers are selling. If we talk about the consumer’s vote, it is India’s most popular online shopping store. This blog has covered every required step you need to know before selling your products on Myntra. So let’s dig in and find out what are those essential steps.

Check Your Eligibility to Become a Myntra Seller

Myntra is not just everyone’s cup of tea; it doesn’t allow individual sellers to sell their products. If you don’t have your own established business, you can not be allowed to become a Myntra seller. This platform allows only legally registered companies to access the Myntra seller app. This website allows only the below-mentioned sellers to sell their products on this platform.

  • Private Limited Companies
  • Partnership Firms
  • Limited Liability partnerships
  • Sole Proprietorship Firms

    Only these four types of sellers can take advantage of this ideal eCommerce platform. However, to make this selling journey more comfortable, you can take the help of the best eCommerce management software such as eVanik OWS. It provides you with all the essential features to manage your back-office operations in order to sell your products on Myntra.

Required Legal Documents to Become a Myntra Seller

First of all, you need to legally register your business under the badge of any of the entities mentioned above. After that, you may require a few essential documents to register yourself as a Myntra seller. This eCommerce website may ask you to submit the following documents to fulfill the registration process.

  • You have to attach the registration copy of your company.
  • GST registration copy of your company.
  • PAN card issued in the name of your business.
  • Bank account details registered with your company name.
  • Authorization letter from the owner or authorized dealer of the brand. It is required only if you want to sell branded products.
  • TAN or TIN of a legally registered company.

    To accelerate the process of registration, you must keep the scanned copies of these documents. These documents can be attached easily on Myntra’s seller registration page.

Essential Steps to Start Selling on Myntra

Once you collect all the vital documents for the registration, you can proceed with the Myntra registration process to become a part of this eCommerce venture. Here are the steps you need to follow to start selling on Myntra.

  • Open Myntra’s official website and click on the “register now” option.
  • The registration application form will open on your system.
  • You need to fill out the application form with adequate details and attach the required documents.
  • Once you fill out this form, you need to verify the captcha and click on the submit button.

    After submitting the registration form, you may have to wait for some days for a response from Myntra. If your application meets all the parameters, you will receive an email from Myntra regarding further processing. When you are ready to roll, you need to add extra features to your internal system. You may require an eCommerce order management system for a seamless ordering processing of Myntra orders. Now, if we talk about the charges of Myntra, it depends on the brand and product. However, this platform doesn’t charge you any seller fees, but it does charge a flat commission of 4 to 5%. This commission is not a constant price for various reasons. For example, its charges are higher for western and ethnic apparel.

Products You Can Sell on Myntra

This leading online eCommerce website allows you to sell the following products across India.

  • Men’s, Women’s, and Kids’ apparel.
  • Home & Living products.
  • Lamp and lighting products.
  • Makeup, skincare, and hair care products.
  • Grooming products for Men.

Jewelry, watches, and infant essentials.

You can choose products from any of the above categories to sell on this enormous website.

Marvelous Benefits of Selling on Myntra

  • You must be thinking about why you need to sell on Myntra. We have mentioned some great reasons to sell your products on this platform to clear your doubts. Let’s check them out.
  • Once you become an authorized Myntra seller, you can relish the complete authority over their merchandise. You can handle orders, catalogs, inventories, and the quality of the products.
  • Unlike other big eCommerce giants, Myntra can ask for your Aadhar and PAN to keep illegal vendors out of the platform.
  • As a Myntra seller, you don’t have to spend on its online portal and other charges associated with running a retail store on this eCommerce channel.
  • You will get the opportunity to seek the assistance of fashionable innovators who can help you design your merchandise. It allows you to match your offerings according to current market trends.
  • This platform also handles social media promotion for the effective marketing of your products. As a seller, you only need to focus on managing the standards and sales of their products.
  • Last but not least, it has millions of customers all over India, which allows you to access its existing customers and expand your business.

Hence these benefits are more than enough to get associated with this most popular eCommerce platform in India.

Conclusion

Hope this ultimate guide can help you better to become a Myntra seller. Several onboard professionals on this platform work directly with sellers to introduce their brands to the online market as efficiently as possible. This authentic professional support lets you update your products and start receiving the customers’ orders. It can become much more convenient for you to deliver any product to a potential customer. However, you will be responsible for keeping up your products. Products will be picked up by Myntra’s delivery partners and get delivered to your customers’ doorstep. This platform supports cash flow and frequent payments that help flourish your business significantly and swiftly. This website processes your repayments within 1 to 2 working days. Thus, if you find it beneficial to sell your products on Myntra, you should follow all the steps regarding the registration on this website.

5 Ways to Delight Customers & Enhance Their Experience!

Five Quintessential Ways to Delight the Customers & Enhance Their Experience!

In eCommerce or any other industry, customer satisfaction is an essential aspect that should be taken care of without being disrupted. Since the eCommerce industry is growing immensely, competition is automatically higher than ever. As a seller, you have to think out of the box to satisfy your potential customers the most and run your business successfully. Customer satisfaction is the key to earning profits and establishing your online presence robustly.

Specifically, poor customer reviews can never let your business grow as per your expectations in the eCommerce business. On the other hand, a delightful customer experience can improve your sales and let your business flourish immensely. However, in this fast-paced eCommerce era, it is not an easy task to satisfy your customers in the first place. You have to make several changes and initiate some advanced technology to help you in the vital process. To fulfill the demands of your potential customers and meet their expectations, you can take the help of sales order management software such as eVanik. It can overall support your business in many terms and ultimately help in enhancing the customer experience. In this particular blog, we have mentioned some of the ultimate ways to delight your customers and enhance their shopping experience.

What are the Customer’s Expectations While Shopping Online

The dynamics of online shopping have changed since the pandemic. Nowadays, more customers rely on online shopping to buy specific items for themselves. There is nothing that they can not buy from an online store. From household products to electronics, everything is available online. The eCommerce industry is growing rapidly, and due to its powerful impact on customers, leading brands are also taking part in this race. Since every product and brand has its online presence, customers lookout for quality products and a more personalized shopping experience. According to a recent survey, more than 65% percent of customers want a customized or personalized online shopping experience. Let’s find ways that can help you in enhancing the customer experience.

Five Imperative Ways to Enhance Your Customer Experience

Adopt Real-Time Data

Believe it or not but accurate behavioral and transactional data is the infrastructure of any great eCommerce strategy. You can not understand your customers and their needs without timely and reliable insights. You need to offer them the products they most likely prefer to buy. It will help if you hit while the iron is hot by having your campaigns respond to customers’ behavior as they browse. You can change your products to feature items that customers may have viewed within that same session. It can help you be more targeted with what you show your customers and turn potential customers into valuable ones. To adopt real-time data, you can use any order management software available in the market.

Automate Your System

If you still believe in doing things manually, let me tell you that you won’t be able to delight your customers ever. In this techno-friendly world, every customer wants to get their orders quickly and without errors. Manual ways of processing an order involve human errors. These errors can lead you to upset your valuable customers, and errors can be related to invoices, shipping, payments, and inventory. Suppose a customer places an order not available in your stock, it will highly disappoint your customer. They can buy that product from any of your competitors and may not ever turn back to you again. That is why you need to automate your system. It will diminish the errors and fasten up the entire order fulfillment process. Multichannel order management software is the best option to automate your entire system.

Proceed with Personalization

As we have already mentioned above, customers want to have a personalized shopping experience these days. So it is vital to increase engagement with your customers to provide them with a more personalized experience. This element can impact overall customer satisfaction and works against the selling strategy of your competitors as well. To provide your customers with an extraordinary personalized experience, you can send them personal emails, and alerts and send them free items with their ordered products. Pampering them will not harm your business in any way but can help you grow your business. You should ensure that you create an intimate shopping journey for your customers so that they can remember you and may get back to you in the future.

Maintain Genuine Pricing

The price you choose for your product also plays an essential role in delighting your customers. It has always been an enduring topic among online shoppers. While shopping online, customers always compare the price of the same product with several eCommerce websites and sellers. They always want to purchase the products at a lower price. If the customer finds the same product at a lower price than yours, they will go for that. However, if you don’t want to change the prices of your products, you have to justify that in terms of quality and features. It is the only way to sell your products on your terms without dissatisfying them.

Fastest Shipping & Delivery

Shipping and delivery are crucial parts of eCommerce businesses. To delight your customers and enhance their shopping experience, you have to look forward to cutting down the shipping charges. It is a harsh reality that customers don’t want to spend a single penny apart from the cost of the product. However, customers want to get their products delivered to their doorstep as soon as possible. It can be the most challenging factor for you to be an eCommerce seller. To resolve this issue, you can tie up with the fastest delivery service, in this way you will be able to satisfy your customers. If you sell your products on Amazon, you can take the FBA service to accelerate the shipping and delivery.

Conclusion

There are so many critical elements that can affect customer satisfaction in the eCommerce industry. To delight your customers and earn targeted profits, you must prioritize your business to provide your valued customer with the best shopping experience ever. Always remember that a happy customer is a key to generating revenue. However, sometimes you may not be able to fulfill all the demands of your customers. To tackle that scenario, you can subscribe to several eCommerce management software that can help you with providing the best customer satisfaction. It can help you manage your orders and inventories and provide you with the features of payment reconciliation, shipping reconciliation, and returns. Returns are also an essential part of the business that can help you enhance your customer satisfaction. So what are you waiting for? Go ahead and do the needful to enhance your customers’ experience.

Importance of Marketplace Integration for Multichannel Sellers!

Importance of Marketplace Integration for Multichannel Sellers!

The eCommerce industry is growing at its full velocity. It is essential to grasp all the various technologies and services available to boost your online business. In this manner, marketplace integration is the way that can add value to your business. Believe it or not but if you are not using it then you are far away from utilizing the full power of eCommerce. Believe me or not, surviving in this vast industry is more skill than luck. To attain that armory, one needs to get in touch with the best eCommerce solutions providers.

There are several API-based software that helps in the process of the marketplace integration process. The vital process promotes the sales of various eCommerce platforms by combining their precise steps, such as managing the inventory and transferring all the data from multiple platforms to a single panel based in real-time. It offers you to organize your product lists from different online marketplaces such as Amazon, Flipkart, Myntra, Meesho, etc. There are uncountable benefits of Marketplace integration that you can incorporate into your online business and generate a humongous revenue. You can manage all your day-to-day activities with the help of this feature. It can help you manage inventory, order reconciliation, payment reconciliation, shipping, and so on. In this blog, You will get informed about the efficient features and benefits of Marketplace integration.

How Does Marketplace Integration Work?

First thing first, it is important to understand how marketplace integration operates. Essentially a marketplace integration works with the help of eCommerce management software. This software helps integrate various marketplaces processes such as accounts, inventory, returns, and shipping. It gathers the data of every individual process from various eCommerce marketplace and then provides you with all the essential updates. This software for marketplace integration handles all the movement related to the selling process on various platforms. Here are a few steps which will give you more clarity on how this process works.

Step 1.

First of all, marketplace integration implies developing an API connection between the seller’s system and various eCommerce platforms such as Amazon, Myntra, Flipkart, Meesho, eBay, etc. Once the API connection gets established and starts running, you will be able to recover, synchronize and delete eCommerce data related to your products, inventory, orders, and shipments.

Step 2.

Once the link between the application programming interface (API) gets deep-rooted with the eCommerce platforms. It transfers the data taken from sellers related to the product, including its price, description, amount, and images, to the eCommerce platforms. This is a fully automated process that saves your precious time and effort. It is a crucial step in marketplace integration.

Step 3.

In this third step, eCommerce management software for marketplace integration provides real-time data on all the placed orders, inventory, shipping, and order fulfillment. It assures a smooth flow of data between the seller’s system and the eCommerce platform and vice versa. It fetches the data on time and provides you with accurate information regarding your ongoing sales process.

Step 4.

Marketplace integration works along with the eCommerce management software. It provides a centralized panel where you can manage all the necessary steps related to order fulfillment. Inventory management, order details, packaging, shipping, and returns, every major and minor detail will be there on your panel.

Spectacular Features of Marketplace Integration Process

The eCommerce industry is snowballing, and the competition is high. To sustain in this competitive market, sellers need to get along with the latest technologies. The marketplace integration is one of the processes that is completely packed with the latest feature that can help you add more value to your business. Let’s find out some of the remarkable features of this process.

Centralized Panel

The intuitive centralized dashboard enables you to analyze your online sales performance smartly across various eCommerce platforms. You can view the order summary of various products and the payment, inventory, shipping, and return reconciliation. eCommerce management software for marketplace integration fetches the data from various platforms and provides you with all the details in one single panel. Now you don’t need to go to different platforms and review the happenings manually. It provides complete visibility of all the sales activities under one panel. In this way, it can become easier for you to take the necessary actions regarding order fulfillment.

Real-Time Update of Order Processing

Order processing and fulfillment are the most crucial part of the eCommerce industry. It can become easier for you to manage the inventory through marketplace integration. You can quickly figure out the exact number of products in your stock. This is an imperative feature that can eliminate the possibilities of overstocking and out-of-stock situations. These are the prevalent issues that disrupt the seller’s overall online business. Apart from that, with the help of eCommerce management software for marketplace integration, you will be able to manage the shipping process automatically and even resolve the returns. All these benefits you in hassle-free order processing.

Various Account Support

The marketplace integration enables effortless management of various eCommerce accounts in one panel. Being a seller, you don’t need to visit the various platforms to collect vital information regarding your orders. Now you can manage your multiple accounts simultaneously. It saves your time and minimizes human errors. This feature allows you to sell the same product using various accounts from one single location.

These are the detailed features of Marketplace integration. It can also automate the shipping process and make it easier for you to keep track of each order. The eCommerce management software for marketplace integration also has the efficient feature of accounting integration which is also a part of this process. It provides a clear picture of your finances.

Conclusion

Hence, this is how marketplace integration works and helps your business grow immensely. This latest technology helps sellers diminish the several errors related to accounts and order fulfillment. This is an essential process, especially for multi-channel sellers, because they can not handle all the online activities alone. That is why sellers must go for the marketplace integration service via any advanced eCommerce management software.

eCommerce Integrated Software and Impact On Warehouse Management

Warehouse Management

A business has a lot of steps to follow when it comes to booking maintenance. Every seller prioritizes the data handling of their company very efficiently. That appeals to a need for centralized control of data transparently and accurately.

There was a time when businesses used to carry out all the finance-related activities manually. It is proven that manual work can not guarantee accuracy. In addition, the manual working process takes a lot of time and effort. It even gets worse when high cost also gets involved in it. Because of this, modernization has given a fast solution to it. Nowadays, businesses choose to keep their record through integrated accounting software. As finance is the backbone of every business, an owner must be sure about the new technique used in the current scenario. But then, how can these activities be performed at a rapid speed with minimum or no number of errors?

The challenges a company comes across for its accounting have given rise to a new technique that grants sellers a better experience and effective results. To grow big and focus on objectives, one must gets enough time and concentration from the rest of the business activities. And now that the invention of “Integrated Accounting Software” has come with its excellent quality for all the companies working in the market, it is quite easy.

eVanik, a new era smart software that understands the problems of companies and has all the solutions, is a leading integrated software that is helping out numerous companies in India with amazing performance.

But before we jump on the advantages of Integrated Accounting Software, let us know what exactly it means.

Importance of Integrated Software on eCommerce Warehouse Mnagement

Integrated accounting software is a solution to all the traditional financial and accounting problems of businesses. In this, a single application can take over all the responsibilities right from reconciliation in payments, tally integration system stock management, inventory management, omnichannel order process, tracking product performance, auto pricing, and so on. In a rapid culture, everything needs to be as quick and accurate as it could be. This eventually has emerged to the existence of software that can provide you with instant calculations on a real-time basis. Companies that deal with issues like inaccurate reconciliation, unsatisfied tally integration, and the number of accounting books need to switch from traditional methods to a modern package.

For a better understanding, an integrated accounting software gives you a wholesome report of reconciliation accounting system, tally integration system, order processing, paid or unpaid data, market trends and competitions, fee charges, return rates, and a lot more in just one click. Isn’t that amazing? But do you know how eVanik makes itself the best business management software offering some exclusive and over-the-top services for all the sellers working in an eCommerce store?

eVanik has a single cloud-based space that allows the seller to have a combined report of its accounting and financial ERPs. Keeping a record of the daily transactions of a business is not fun, but with eVanik many sellers have experienced a full proof data handling experience at their fingertip.

How Does An Integrated Accounting Software Works?

Let us consider all the accounting activities which are required to be taken into account like reconciliation integration solution, tally integrated system, order processing, and management, tracking inventory, inventory management, return rates, profitability calculating, tracking product’s performance, and so on. All these need a lot of time and patience to calculate. But eVanik integration accounting software has a solo center from where all these activities are performed and tracked on a real-time basis emphasizing to make these data errorless and remarkable. Integrating all the finance and accounting-related information is difficult. But technology has a solution to everything.

Say Yes To Smart Work

While everything and anything is changing frequently with time, business patterns have also been changed. With integrated accounting software, it becomes easy to find each required detail of your finance and accounting management. Manual working is now obsolete. Digital businesses handle things with ease. Any business should focus on fewer investments and grabbing more profit from the same. For this, a cloud-based single platform architecture will enhance the growth of profit as you will be concentrating more on your base activities. Hence, a seller should follow the trend of not only working hard but working smart as well.

Centralized Control Of Warehouse

When there is a mechanism to manage your godowns, enlisting your products and selling information, nothing can be more exciting than this. As eVanik has a single platform that looks after how many products are being brought in the warehouse and how much of it would be released at that given time. Also, it ensures tracking the products available in the warehouse and their related issues as well. There can be choices a marketer would make, but the best deals come when you are ready to improve.

Clear Picture of Business Performance

With integrated accounting software, a seller can have a clear idea of where his|her company is positioned in the eCommerce wide market space. Many dealers do not understand and evaluate the proper mechanism of their business because of which they end up losing great opportunities to grow. Therefore, having a smart assistant who could handle your stress on your behalf is not a bad idea. This would not only give aggregative and detailed information about your finance and accounts but also helps you in tasks like profitability calculating system, inventory management, omnichannel order management, etc.

Consistent and Regular flow of Stock Management System

Warehouse management has to be easy enough to make order processing easy. When a seller would know an accurate stock management system and solutions, they can’t focus on a better end product to serve their customers. Here, integrated software helps a company to have consistent and regular updates of stock bought and sold to the customers. Daily, it creates a better situation for the company to process its mechanism.

There is no doubt about investing in integrated accounting software for your company because not one but much daily-based business management would be performed easily. But anything you adapt to new takes a little time for learning. In Conclusion, it would be the best choice for any scale (small, medium, large) companies must subscribe to effective solutions for their eCommerce problems and one such assistance is eVanik.

Importance of Inventory Management

Importance of Inventory Management

Importance of Inventory Management

Inventory Management

Inventory Management is crucial to prevent an “out-of-stock” situation that can lead to lost sales for ecommerce sellers and disappointment for customers. Inventory management controls the entire flow of goods from manufacturers to warehouses and from there to point of sale. It entails management of orders, returns, logistics, returns etc.

It is necessary to streamline the inventory management system as a mismanaged inventory can lead to retailers witnessing huge losses.

Why do you need Inventory Management?

It is imperative for ecommerce retailers to be aware of its inventory in order to achieve efficient as well as fast operations, at an affordable cost.

An efficient management of inventory results in reducing costs that further helps to keep accounts and finances of retailers in check.

It also helps in offering better customer service through fast delivery of goods and low shipping charges, thereby meeting customers’ expectations.

Benefits of Inventory Management: There are a plethora of benefits in having inventory management.

Keeps track of one’s inventory and provides a centralized view of stock.

Controls the costs of ecommerce sellers by creating stock reports in order to analyse the inventory.

Enhances delivery by proper management of stock-outs and meeting the expectations of customers.

Assists in planning and forecasting by properly analyzing the data trends.

Reduces the time taken for managing the inventory by keeping one’s records in place.

eVanik OneWorld Suite: eVanik OneWorld Suite from the trusted eVanik Networks, which is the most awarded ecommerce solution provider in India, helps in effective inventory management. Over 12 thousand ecommerce sellers rely on eVanik OneWorld Suite to automate their back-office marketplace operations and skyrocket their online business on the best online seller sites in India.

eVanik OWS’s inventory management software is a centralized and synchronized inventory management software for multi-store, multi-channel businesses selling online and offline. This inventory management software manages common inventory for several channels and automatically reprice it to stay on “Buy Button” always thereby helping ecommerce retailers to keep growing their sales. It also helps to manage the order lifecycle. From procurement to warehousing, from order processing to shipping to returns, eVanik OneWorld Suite helps in the entire order lifecycle management. The software also provides Live/Out of Stock and Price Tracker. For brands selling through partners, dealers etc, one can get real time visibility on Live/ Out of Stock products and price change alerts with email notifications. eVanik OneWorld Suite from the trusted eVanik Networks also provides ecommerce reconciliation, with 99.6% accurate reconciliation of payments, returns, commissions and inventory in real time, with no cumbersome excel uploads or downloads.

Benefits of eVanik OneWorld Suite: Inventory management and Business profitability are interrelated and the biggest reason for the success or failure of a business is the way the inventory was managed. In the e-commerce marketplace scenario, inventory management becomes all the more important and hence it is imperative to have a seamless and centralized ecommerce inventory management software like the eVanik OneWorld Suite.
1. eVanik’s inventory management software tool helps an ecommerce seller a great deal by automating the online sales and inventory management system.

2. eVanik OWS is connected with all major e-commerce marketplace channels for inventory management. All one needs to do is set up the virtual common inventory once and the system will manage it across all marketplace channels for all products.

3. eVanik OWS Inventory Management Software is a boon for ecommerce sellers as it helps to manage their inventory across Amazon, Flipkart, Snapdeal, ClubFactory among others.

4. eVanik’s inventory management software helps sellers to save valuable time so they can focus on growing their retail business while eVanik OWS Inventory Management Software improves visibility into their supply chain.

5. It manages their online inventory by easily tracking and syncing product quantities across all online sales platforms in real-time. Every time a retailer receives an order from an online channel, eVanik OWS’s inventory management software apart from fetching that order, also automatically refreshes stock data to all online channels where the product is listed.

6. Does not require any software to install

eVanik OWS Inventory is a fully web-based solution that is hosted in the cloud. As a result, retailers never need to install software, upgrade updates, or archive their data.

7. Integration of multiple selling platforms

eVanik OWS Inventory has over twenty integrations with many selling platforms including Flipkart and Amazon, and will mitigate the headaches due to overselling. eVanik OWS automatically updates the selling channels in real-time with updated stock levels.

8. Support High Transaction Volumes

eVanik OWS Inventory supports higher volumes of transactions so sellers do not face any problem.

9. Free training and support

eVanik OWS provides a free training session from the start, and on procuring the software, ecommerce retailers are assigned a dedicated customer relationship manager to handle all their queries.

Key Features of eVanik OWS’s inventory management software: Following are the chief features of the eVanik OneWorld Suite from the trusted eVanik Networks, which is the most awarded ecommerce solution provider in India.

1. Composite SKU’s (bundles/kits) One can now combine SKUs to create composite SKUs that will depict the inventory of the underlying SKUs. Managing inventory with bundles will help to enhance your catalog by creating new offerings from your existing products with attractive pricing for higher-order values.

2. Advanced Order Routing

The software further offers Advanced Order Routing based on geolocation, warehouse priority, and stock availability. You can now combine SKUs to create composite SKUs that will depict the inventory of the underlying SKUs.

3. Custom Alerts
Ecommerce sellers can now set custom alerts for low inventory levels and create purchase orders.

4. Product SKU Mapping
With our unique inventory mapping system, sellers can track their products with different identifiers.

5. Multichannel Tracking
One can track product quantities and sales across boundless integrations. For retailers that have inventory in multiple warehouses, eVanik can allocate inventories and designate orders based on predefined rules, such as region, shipping method, or other special designation of inventory.

6. Sell better, faster with eVanik OWS
With the best inventory software, you can turn inventory faster, maintain higher margins, and reduce manual inventory-related tasks, helping you focus on what you do best: sell.

7. Centralize your inventory
Visibility across multiple sales channels, stock locations, and stages of the product life cycle within one simple inventory app.

8. Sell flexibly
Take advantage of merchandising techniques like bundling and pre-orders.

9. Low Stock alerts
Avoid overselling and stockouts with low-stock alerts, and automatic stock adjustments as sales orders are processed and purchase orders are received. Low inventory alerts make it simple and convenient to place a reorder from the appropriate supplier directly from eVanik´s.

10. Automate purchase orders
eVanik´s powerful capabilities automate and simplify your inventory management. eVanik automatically adjusts inventory through purchasing or vendor feeds. Product availability amounts are automatically updated across all marketplaces.
11. Transfer and track inventory
eVanik´s end-to-end platform will automatically reserve availability when an order is first created and decrease it from physical inventory upon shipping.

12. Cloud-based inventory management software
Modern Inventory software without the excruciating updates; available regardless of where a client or group is based.

13. Integration with accounting software
Build and study Sales and Inventory Reports

eVanik OWS Inventory Management software thus is an efficient and affordable software that gives retailers a robust product that has a plethora of advantages that helps ecommerce retailers catapult their business and take it to greater heights.

Benefits of e-commerce for small businesses

Benefits of e-commerce for small businesses

Benefits of e-commerce

If you are an entrepreneur and have not started selling your products online, this is your time to stand up and go e-commerce friendly. Electronic commerce, basically known as e-commerce is a medium to process buying and selling of products and services online. 
The benefits of e-commerce not only includes introducing your product globally but also helps you in saving your time, money and other resources. 
So before we move ahead and talk about its benefits let’s go through the journey of the term.

Let’s travel to past

The term e-commerce was officially announced in the year 1991 as the internet was open for commercial use, the process at that time only supported the execution of commercial transitions electronically, that is the transition was only done between business organizations in order to send commercial documents electronically. 

The process of transition back then was done with the help of some leading technologies for electronic data interchange.
In the time span of 3 years the acceptance of the internet among the population of America. The general public turned towards a handy use of the internet and that was when the idea of e-commerce for buying and selling of goods evolved.

As it is rightly said, “Rome was not built in a day”, so even with the idea and a complete picture of plan the process took another 4 years. These years were invested in creating a security protocol like HTTP.
Finally, in the year 2000, many US companies represented e-commerce, especially by creating a web page on the world wide web.  
And since then the process is improving, being accepted and growing globally. E-commerce has been providing many benefits to growing businesses, just learn and earn them.

Benefits of e-commerce

In all these years e-commerce has been accepted and trusted by many organizations. Reports by India brand equity foundation (IBEF) depict that the Indian e-commerce market is expected to grow and reach up to US $ 200 billion by 2026. 
Therefore the foremost benefit of using e-commerce for your business is sustaining the market competitions and boosting your chances of success.  
E-commerce has evidently shown cases of many success stories but today we will only talk about the benefits of e-commerce for small businesses. 

  • Marketing

Marketing of a product has always been an important aspect of its acceptance in every domain. The process of e-commerce promises to make your work convenient. You can easily market your product on an online platform. 

With e-commerce, you can make your customers aware of your product, new launch and its features via online medium and attract a large mass in a short time.

More than this you can also attract your customers by providing a visual tour and with leverage content in different social media like websites, Facebook, Instagram, etc.

  • Provide datasheet

E-commerce not only markets your product but additionally, it helps in providing a detailed outline of your product to customers. 

You can now help your customers to go for the most appropriate choice as per their needs. The datasheet helps customers to get the right insight into your product at any time of the day and at any place. Customers now need not travel to the store just to see if this is the product that they are looking for.

For your customers, it is very important to get the right information in a convenient manner about the product and of course, this is another way for you to win their trust.

  • Retarget your customers

E-commerce helps you to keep an eye on your customers and their interests. You can now target and retarget your customers easily.

Retargeting your customers will market your product and boost the buying behavior of your customers. 

E-commerce helps the sellers to understand the buying behavior of customers and thereafter work accordingly. For example, if your customers select a pair of shoes and mark it as wish, so you will have data to retarget your customers accordingly. You can mail them with some discount offers or you can reach them again when you find that there is some attractive offer that your customers may like. 

On the other hand in traditional commerce, it was very hard for retailers to remember about the interests of all of their customers and then provide them the experience they are looking for.

  • Business never stops

Every shopper is different from their interests, buying patterns, shopping styles. Some shoppers shop for specific things others may shop because the product attracted. Some shoppers do shopping as a leisure activity while others may find it a hard task. Something that every shopper has in common is they shop according to their suitable time. 

And so e-commerce provides every business with a platform to work 24/7 for all 365 days. Now you can grow and expand your business with an unstoppable working culture.
Even if you are not physically available your channel will work for you. 

  • Reduces recurring cost

We all understand starting a business is really challenging, there are many challenges that cross the path of entrepreneurs. Out of all those challenges, one of the biggest challenges comes from finance. 

Since e-commerce is supporting your business in so many ways, how could it not help you here?

E-commerce helps a business by reducing the rent or lease cost of the store, maintenance of the store, personnel cost, store design, and personnel hiring and training cost. 
With e-commerce, you can work on an online platform making a virtual store. 

  • Offer details to your customer

Just looking at an advertising poster and buying it up! 

The buyers of today are smarter than this, they need details retailed to brand and product they are planning to buy and that where e-commerce comes in the picture, it helps retailers to not only to provide details to customers regarding products or services but it works in providing a detailed outline of the company.

There are times when customers want to know everything about the product including the brand and company and in retail stores, it is quite hard to give customers a detailed outline or answer to every question that a customer is looking for.

Therefore, e-commerce can help you there. All it demands is making a good profile of the company by making attractive and user-friendly websites.

So start giving your customers a little more.

  • Know review of your product

Nowadays every buyer follows the ratings by other buyers on the product before purchase and then accordingly initiates their step.

By the way, do you know how amazing your product is?

If you are saying “NO” then read what your customer says. Yes! With e-commerce, you get a chance to know the feedback of your customers and can also see and compare the ratings. 

It gives you a chance to work on your product according to customers’ needs and also make other buyers aware of your product features.

Now, this is clear that we need to use e-commerce portals for growth and success but how to avail them is still a question. Right!

Don’t worry, we have an answer for that too.

Is e-commerce just perfect?

No doubt, e-commerce comes with lots of benefits for your business and it has so much to offer you, but every offer comes with a cause. So here are some of the points to reconsider about e-commerce.

  • Reconciliation- being a part of commerce be it traditional or electronic you need to look upon the internal financial records and compare it with monthly statements of banks or other financial institutions. It is an important step to do, as it avoids fraud transitions, credit drafts, and many other similar issues. 

If you are an online seller and you sell your product on different platforms together, your task becomes more stressful, as now you have to download reports, look and compare, you may also have to recheck it.

Doing all these on your own is a real hectic task!

  • Accounting/ Return filing- The story of work pressure doesn’t end here, you need to send your excel sheets to CAs or do manual entries. 

The problem that most of the small and medium enterprises face is a lack of knowledge about GST that may end up with the loss of the company rather than generating profit.

  • Inventory management- It is amazing that you have registered your business in all the online channels to sell your product, but is it convenient to handle?

No, right. 

Registering to many portals is easy, even investing money in all of them becomes an easy task, but something that is not at all is managing them together. 

Switching between one channel to another and keeping an eye on all of them is not at all easy and even if you do that, the accuracy rate shivers. 

  • Return management- Did you give a thought of how you will manage the return of your products.

Things are easy when they go in favor but turns to be harsh when they do not move as planned. So yes, return management needs a lot of attention and you have to manage all those records and update in real-time. 

So the warning most of the time is about managing all the things together that make it hard for small and medium enterprises. 

  • TDS & TCS Compliance- The journey that you have to go through using e-commerce will also involve certain compliance issues. 

For every sale, the e-commerce operator will charge commission along with the other fee that includes handling, shipping, etc. The fee comes under Tax Deducted at Source (TDS) provision, which depicts that it is liable to deduct some percentage of your income tax (Income tax act, 1961). 

If the TDS does not get deducted and paid on these expenses, the online retailer will have to pay income tax along with TCS (Tax Collected at Source) for these expenses too.

So it is very important for an online retailer to manage monthly compliance of TDS records and keep a regular track on return filing and assessment of GST.  
And since this article has talked about and solved so many problems, here is a solution to this problem too. 

You can subscribe to eVanik and solve all these issues at once. You will have a complete suite to work at your convenience.

Conclusion

The benefits of e-commerce can go way beyond this. These are some of the glimpses of benefits that you can avail of moving to e-commerce. Since everyone in the world is looking for a place where they can shop with their convenience, without investing time on going to places and choosing among thousands of options. So this is your time to give your customers what they are looking for.

However, e-commerce needs high management and looks after but moving ahead with the right plan will always give a profitable result. 

Make e-commerce your choice with your existing retail store, don’t let boundaries stop you and give your customers more than what they ask for.

Because a happy customer is all you need to grow!

Best accounting software for e-commerce sellers in india

Best accounting software for e-commerce sellers in india

Best accounting software

Finding out the most appropriate accounting software for your online business on marketplaces could be a really difficult task to choose from.

When you are considering to buy accounting software for your eCommerce business and especially if you are selling through marketplace platforms such as Amazon, Flipkart, PayTM, etc, it’s important to consider several factors. Moreover, if you buy the wrong one, it wouldn’t be easy to make a switch to another one in the middle of the year.

Here’s what all you must consider before you go ahead and buy your accounting ERP

Integration
  1. Your accounting software should be able to automatically integrate with marketplaces and fetch all data points like sales orders, returns, payments, commissions & marketplace fee and TCS
  2. These integrations should be real-time primarily because marketplace transactions are dynamic in nature. If you are thinking of downloading files from your seller accounts and then uploading it back to your accounting software, it may not be a good idea, simply because what you have downloaded today may get updated or modified by the marketplace tomorrow. This will become an infuriating struggle to identify the changes and re-updating your accounts
  3. Most accounting software does not have a direct integration with eCommerce marketplace channels. Therefore, it’s important to look for a middle layer solution that talks with your marketplaces and your accounting software simultaneously and seamlessly. eVanik OneWorld Suite is one such option that has direct integration with all major eCommerce channels and major accounting ERP providers.
Features & Functionalities
  1. The nature of accounting transactions in the eCommerce marketplace business vs. a regular trading business is largely different. The following table illustrates some of the key differences between both.
Nature of TransactionEcommerce MarketplaceOffline / Trading Business
Sales Orders & FulfilmentMultiple Statuses (Changing dynamically)
Party ledger of Marketplace instead of the end customer
Invoicing done by Marketplace (FBA Model)		Simple direct invoicing to end customers.
PaymentsReceived in bulk for multiple orders/invoices after multiple deductions.
Payments received against one bank account or GSTIN location even if transactions have happened in multiple locations		Direct full payment against an invoice from the end customer.
Commissions / FeeMultiple charges linked against order/product/fulfillment model etc
Charges are dynamic and ever-changing
Charges to be adjusted at every order-level / item-level and warehouse-level		Mostly unlinked to sales invoice with exceptions like Shipping Fee
Sales ReturnsReturns initiated by the marketplace vs. returns received by the seller – when should it be recorded
Recording accounting vouchers for replacement orders		Simple Return Voucher or Credit Note
Refunds & ReimbursementsClaims vs settled reimbursements
Refunded orders but not settled to seller		No impact
InventoryStock transfer from the main warehouse to channel warehouse
Recalls from channel warehouse to the main warehouse
Inter warehouse movement done directly by marketplace channel
Damaged and unsellable stocks accounting treatment		No impact
TCSTCS is implemented only for marketplace eCommerce business
Accounting entries of TCS
TCS on return orders
Reconciling TCS with GSTIN portal		No TCS impact
  • accounting software may not have such large data handling capability. This may cause a threat of loss of valuable data, incorrect reports and delay in filing your returns.
  • Reporting your online business comprehensively in the way you would like to see it.
  • Ease of Use / Accessibility 
    1. Simplicity is the key to good accounting software. Ensure that you take a detailed product demo and list down all your queries at the time of the demo. 
    2. Most software will provide you a limited free trial period. Make maximum use of this trial with your actual data and see if this is working for you or not.
  • Cost
    1. Acquisition cost – Initial cost and annual maintenance / AMC charges
    2. Operational cost – Server cost
    3. Support cost 
  • Support and Implementation
    1. While most accounting software comes with standard support channels, it’s important to scope out your implementation requirements and support requirements with definitive timelines.
    2. Check the ratings and reviews to see how the software company fares on customer support and implementation.
    3. Customization will be required especially when you are into this complex business of eCommerce marketplaces. 
Tally .ERP 9

Tally .ERP9 is undoubtedly the leader in Accounting software in India. 

It is a windows-based enterprise resource planning software. The software handles accounting, inventory management, order management, tax management, payroll, banking and many such requirements of the business. It supports all day-to-day processes from recording invoices to generating various MIS reports.

Tally boasts of 6 million overall customer base out of which 2 million are with an official Tally license. 

Tally does not have any direct integration with any eCommerce companies in India and hence the commonly used workaround is the import and export of spreadsheets which may not be a good practice.

eVanik OWS is the only tool that has an automated chrome extension based integration with Tally ERP9. This means that there is no need for you to manually upload or download vouchers. No 3rd party module (TDL) needs to be installed into your Tally license. All ledgers, SKUs get mapped or created automatically through eVanik. And the GST reports generated on your Tally will be 100% accurate and error-free.

The biggest limitations of using Tally are:

  1. Limitation on data. Experience says that after posting 50-70k vouchers, the software tends to slow down. Generating GST and other reports take a long time.
  2. Tally is a single company / single branch software. Branch accounting is not available
  3. Its an offline and desktop-based software and cannot be accessed from a remote location
  4. The multi-user version of Tally can run only if all the users are on the same network.
QuickBooks Online

QuickBooks Online provides direct integration with very limited marketplace channels. In the Indian eCommerce context, this is even more restricted. However, if you have the technical expertise, you can do an API integration of a few of your marketplaces (that provide API) directly with QuickBooks Online.

QuickBooks offers on-premises accounting applications and cloud-based versions with features like expense tracking, tracking bills and due dates, and reporting

Currently priced at Rs. 4,800/- per year, QuickBooks comes with a 30-Day Free Trial. The “Simple” edition of QuickBooks Online limits to 1 Billable User, 250 Charts of Accounts, lack of custom reports and no multiple branch accounting options.

Alignbooks

Alignbooks leads the house when it comes to eCommerce accounting in India. Alignbooks is a Delhi based company focused on SMBs. Alignbooks recorded 1000 new customers within the first year of its launch.

The biggest advantage of this software is that it is completely automated and integrated with eVanik OneWorld Suite. Server-based APIs between Alignbooks and eVanik ensure real-time and automated transaction posting without any manual intervention. Reports are highly customized and the support is available 24×7 from the company. It’s Multi all the way: Multi-User, Multi-Company, Multi-Location, Multi-Branch and unlimited transactions.

Best accounting software2

Zoho Books

Zoho Books is one of the most sought after cloud-based accounting software in India and now globally. Zoho Books provides end to end accounting and also has a very simple and useful mobile application in Android and iOS.

  • The pricing of Zoho Books is very attractive for small businesses The standard edition comes at just Rs. 2,499/- per year with a restriction of 5,000 invoices annually and the premium edition comes at Rs. 19,999/- per year with 25,000 invoices. The pricing steeps up with more number of invoices.

    Ecommerce integrations are limited to sales orders and returns. Payments from marketplaces can be managed through their bank feed integrations. Cons – Single Branch, restriction on the number of transactions, limited users, etc.

Best accounting software3

NetSuite
  • NetSuite is one of the leading solution providers of cloud-based business management software. NetSuite helps companies manage core business processes with a single, fully integrated system covering ERP/financials, CRM, eCommerce, inventory and more. NetSuite is focused on strong compliance management and designed for large enterprises. If you have a global and large enterprise business with multiple verticals, NetSuite is worth checking out.
  • Pricing of NetSuite may be one major constraint if your business is into early or growth stages. NetSuite’s cost depends on several factors including the selected product configuration, add-on modules required, total user count and contract duration. NetSuite’s base license pricing begins at $999 per month with general user access listed at $99 per month.

NetSuite comes with a basic integration with eVanik OneWorld Suite.

Xero

Xero is another popular online accounting software. Right from the Xero login page, the overall experience of the web and mobile version is fantastic.

Xero comes with integration with over 800 third party apps and a very hands-on expense management module. Xero boasts of over 2 million subscribers. The UI of Xero is one of the most beautiful in this segment.

Xero also claims to provide a reconciliation of Amazon FBA transactions and the Amazon Seller Central can get integrated with Xero. Besides Amazon, integrations with Alibaba, Etsy, and eBay are also available.