For online sellers, the management of sales orders and their payments is very important. According to the Global State of Cross-Border Commerce, an industry study commissioned by Rapyd, increasing the number of payment methods offered is among the top five priorities of ecommerce companies, as is expanding cross-border sales initiatives. At the top of the list of stated objectives is increasing market presence.
This, however, whilst promising greater profits, also implies managing a much higher volume of sales. In particular, payments reconciliation (i.e. the business management activity of checking that bank accounts and bookkeeping correspond) is one of the most sensitive issues in cross-border ecommerce. A lot of day-to-day transactions are made that require matching the right tax documents, taking into account the buyer’s country and currency.
Invoice reconciliation is today a process that, even with customer order calculation and management programmes, is still mainly done manually, with the risk of errors. For this reason, Go Global Ecommerce, has decided to develop Reconcile, a reconciliation software for ecommerce that allows for better financial control.
An innovative technology for sales orders management and the automation of financial management control, which allows a large number of online transactions to be managed with ease. The programme also allows the issuing of electronic invoices and electronic credit notes.
This order management solution is designed to adapt to any business configuration and platform from Shopify, to Prestashop, and from WooCommerce to Kooomo, but also Amazon, Ebay, Zalando and any other marketplace. It can be customised and easily integrated to manage revenue, organising the complexity of payment and credit card reconciliations, returns and more.
“Matching tax documents to the respective financial transactions is a very important task, but it can be difficult. You have to take into account credit card fees, returns, currency conversions, bugs or errors” explains Simone de Ruosi, CEO of Go Global Ecommerce. “Reconcile automates this process and relieves us of the burden of having to manually match all individual transactions, which is very tiring in the case of large sales volumes and becomes even more complex in the case of cross-border ecommerce. Reconcile, on the other hand, allows for easier and more accurate reconciliation, saving money, time and optimising data management“.
By automating these processes, it is possible to have a complete overview and better financial management control, for a more efficient allocation of resources, overcoming the difficulties linked to the complications of reconciliation, sales order management and electronic invoicing, regardless of the sales volume or their complexity, and, above all, returns.
Another aspect not to be underestimated in relation to order management solutions is the certainty of being compliant with the accounting standards of the various countries in which you sell, which may have different taxes and rates.
This order management software has two licenses/plans, a Basic plan (1 user, up to 20,000 items) and a Pro plan (3 users, 20,000 to 100,000 items), to suit the needs of any business. You can request a free demo.
A technologically advanced solution, able to facilitate and speed up the management of the (accounting) part of online purchases, minimising the risk of errors. This is an important tool for cross-border ecommerce companies, which allows them to increase their market presence and user base, without fearing the difficulties associated with bank reconciliation and commissions or currency exchanges management.
Do you want to know more about Reconcile? Click here: Reconcile, The Top-Notch Reconciliation Software for Ecommerce