Boost Your Bottom Line with FBA Reimbursements by Getida
Has your business been negatively affected by the Corona Virus? Are you looking for ways to increase your turnover and profit?
FBA reimbursements may be the light at the end of the tunnel.
FBA reimbursements offers Amazon sellers a practical way to draw more money into the business.
Taking advantage of FBA refunds could help you to overcome the current financial crisis and improve your cashflow.
So how do FBA fee reimbursements work??…
How FBA Reimbursements Work
If you’re an Amazon FBA seller you have an 18-month window in which to audit all the transactions that have gone through your FBA transaction account.
If you find any inconsistencies that qualify for a reimbursement you may open a case under Amazon Seller Support. This is in accordance with the Amazon reimbursement policy.
This is an exercise well worth the effort, as Amazon has heaps of discrepancies both logistical and financial for which you may well qualify.
Discrepancy Rates
Technology company GETIDA estimates that the discrepancy rate of products processed through Amazon FBA is between… 1% and 3%.
So, for every 100 products that you send through the process between 1 and 3 of them will have a discrepancy.
Despite the vast numbers of orders that Amazon fills for third party sellers the company manages their inventory with an accuracy rate of between… 97% and 99%.
That’s impressive.
Almost any retail business would be happy to boast such a high level of inventory accuracy.
From your own point of view, as an FBA seller, if you’re not auditing your discrepancies, you may be losing large amounts of money unnecessarily. As an example, if your turnover is a million dollars every year, the 1% to 3% discrepancy could cost you as much as $30,000.
It is, therefore, in the best interest of your business to do everything you can to ensure that you get all reimbursements due to you under the FBA reimbursement policy.
Types of Problems
Amazon handles a lot of stock and, as in any warehouse environment, goods can get lost, damaged or destroyed. It is also not uncommon for discrepancies to happen in the goods receiving area.
From a financial viewpoint,…
Amazon quite often overcharges on the pick and pack costs, so a regular audit can ensure that you request credits for overcharges. The reason for the pick and pack discrepancies is generally caused by weight and dimensional errors on the Amazon database.
In the case of financial queries, it is vital that you check regularly or you’re bound to lose out. Amazon allows just 90 days for the reimbursement of such over-invoicing.
Maximizing Profits by Claiming Your Due
It makes good business sense to claim every FBA fee reimbursement to which you are entitled according to Amazon’s terms and conditions. Because of the way that Amazon works if you fail to claim your FBA refunds you are losing twice over.
The first loss is the loss of the stock at the price that you paid for it. The second loss is on profit because Amazon pays the selling price for the inventory. This means that the FBA refunds you claim include the profit on the sale of the product.
So, if you succeed in your claim for FBA fee reimbursement, you will receive an amount that covers both the cost of inventory and the profit, turning your loss into a tidy profit.
Time to Take Action
If you’re relying on Amazon to reimburse your funds automatically, you may be losing thousands of dollars. Even if you already audit your Amazon account,
how sure are you that your business is receiving the full entitlement when it comes to Amazon reimbursement?
It is in your best interest to sign up with an Amazon FBA auditing firm like GETIDA to ensure that you aren’t leaving money on the table.
GETIDA charges only on the recovery of funds from Amazon FBA reimbursement, so you don’t pay for the FBA audit unless you’re owed money. This means that every dollar reimbursed adds value to your business – a deal no seller should turn down.
It only takes a few minutes to >>>sign up for the GETIDA service.
As soon as you’ve completed the registration, you’ll get access to the GETIDA dashboard, completely free of charge. Use the dashboard to examine your Amazon FBA data analytics and find out how much you could receive in FBA reimbursements.
If you enable the Amazon FBA recovery service, GETIDA will do an FBA audit and ensure that you receive what is rightfully yours.
In Closing
Selling online has always been competitive. Covid-19 has raised the stakes as more businesses try to stay afloat in an increasingly difficult environment.
We hope that our advice will help you to take advantage of the benefits of FBA reimbursements that are due to you, helping you to improve your cash flow and profits.
