Unicommerce, an e-commerce enablement software-as-a-service (SaaS) platform, has launched UniReco, designed to help brands and retailers automate their payments and returns reconciliation across multiple marketplaces. It handles return payments by accounting for return logistics costs and any other expenses agreed upon between the seller and the marketplace.
As businesses expand their presence on multiple platforms, managing and reconciling payment for every order can become challenging. UniReco uses an algorithm to match orders, prices, and returns across various marketplaces and provides businesses with a real-time view of their reconciliation status so they can identify and resolve any discrepancies.
Additionally, UniReco offers updated and detailed reports of real-time costs and earnings, an essential planning prerequisite for sellers as it enables them to manage their working capital efficiently.
E-commerce sales are no longer about listing, servicing orders and receiving payments after the deduction of marketplace commission. Modern e-commerce has multiple factors like discount offers, discounts of extra units purchased, buybacks, bundled offers, shipping costs, third-party logistics fees, and buy now pay later, all of which increase the complexity around the final amounts that sellers are to receive and the timelines when various payments become due.
Payments of return orders further complicate the process for the sellers' finance team. UniReco has features, including pre-calculation of channel fees, automatic payment reminders, tracking order-wise settlement, and providing transactional reports at multiple levels.
UniReco allows brands and retailers to get a summary of each transaction, ensuring clear visibility of charges, disputed payments, and expected revenue. This feature ensures that they have order-wise revenue visibility, which helps them contest any erroneous or incorrect charges and also get a better sense of unit profitability by understanding how different products are contributing to company revenue.
At the launch of the product, Kapil Makhija, CEO of Unicommerce said, "Working with thousands of brands allows us to understand the challenges that businesses face in reconciling payments across various marketplaces, and UniReco addresses this specific need."
UniReco seamlessly integrates with various online marketplaces, consolidating order and return data from different channels into a centralised platform. It assists sellers in detecting potential payment discrepancies and pinpointing any additional deductions related to return orders, empowering sellers to enhance their revenue streams.
The product automates the reconciliation process, minimizing errors and discrepancies in payment data. This ensures accuracy and transparency in financial records. UniReco provides real-time updates on payment statuses, refunds, and returns, enabling businesses to stay informed and make data-driven decisions promptly.
Users can generate customisable reports to gain insights into their reconciliation processes, helping them identify trends, analyze performance, and optimise operations. UniReco provides consistent efficiency as brands expand their presence on new marketplaces to accommodate increased order volumes.
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 with the Securities and Exchange Board of India. IIFL Securities Limited and CLSA India are the book-running lead managers for this public listing.
