About the Company
Hardtrac Computers Pvt Ltd is a leading telecom and IT infrastructure partner established by Bimal Jhaveri in 1993. As the preferred distributor for all major brands in the Maharashtrian region, their 20+ retail stores carry 45 celebrated eCommerce brands like Samsung, Lenovo, Eureka Forbes, Bajaj Usha, Unilever and Prestige. Through organic growth, Bimal and his team have established their credibility as quality distributors in the domestic market.
Auditing Marketplace and Inventory Data- The Challenge
Hardtrac’s digital journey began in 2013. Three years later, the company experienced an exponential growth in sales that rendered manual reconciliation of invoices both time-consuming and prone to oversights.
When order volume rose from 20 to 2000+ over the course of 7 months, so too did the auditing team’s efforts to cross examine the invoices and match payments, returned orders and deductions by marketplaces, date and product category. The late hours and errors made it abundantly clear that an automated return reconciliation software would be needed to manage , track and offset losses from orders sent back.
Hardtrac wanted an integration to be developed with their accounts to simplify bookkeeping while giving auditors accurate accounting data and analytics.
Automated Reconciliation- The Solution
EasyEcom’s technical development and support team went to work with a preliminary assessment of Hard Trac’s existing financial architecture. The answers supplied by the accounting team enabled EasyEcom to bridge the gap between eCommerce and return management accounting. Post going live, EasyEcom conducted several usage-centric training sessions virtually and onsite to onboard the team seamlessly onto the platform. In a few quick clicks, EasyEcom helped Hard Trac take the guesswork out of reconciliation, enabling them to reconcile > 50,000 returned orders.
EasyEcom’s unmatched reconciliation speed and capabilities gave the finance team complete visibility into marketplace order payments and returns by their recency and category, enabling them to improve bookkeeping accuracy.
The team could flag invoices by their payment status using the built-in traffic light system, thereby being able to track unpaid orders, excess taxes and deductions on commissions and closing fees. The fact-driven returns, replacement and pending returns reports equipped the team to make informed decisions on returned orders, such as restoring to shelf, issuing replacements and sending the item for repairs. These actions allowed Hard Track to successfully recoup nearly 75% of the losses previously absorbed. The benefits reaped by Hard Trac include being able to
- Detect nearly 98% of all payments and tracking deductions from marketplaces by invoice date and SKU .
- Streamline return management with real-time visibility into both confirmed and pending returns.
- Achieve a 100% system sync between Tally ERP and EasyEcom, thereby recording a 99% reconciliation accuracy for all orders by return date, warehouse and product category.
- Stay agile and adaptive to each marketplace’s reporting format.
- Understand the valuation and profitability percentage earned on a sale by the marketplace and product.
"The solution is great when it comes to automating our most tedious tasks. We download reports from the portal and sync them up on Tally ERP. Since eCommerce is a changing industry with marketplaces updating their reporting formats often, it's important for inventory management software to be up to speed, and that's what EasyEcom gets right. "
- Bimal Jhaveri, Owner & Founder, HardTrac