Connecting to third-party marketplaces
The opportunities made available through Amazon, eBay, Rakuten and others are hard to dismiss, but manually processing orders on several marketplaces can be a time- and resource-consuming process. And the same goes for synchronizing inventory levels and pricing updates. On top of that, inventory levels must be coordinated all the while trying to avoid high levels of order cancellations for out-of-stock goods.
Missing the mark on any of the items above will increase the chance of having orders rejected for lack of inventory. In addition to only paying merchants when new orders are accepted, every marketplace will penalize a merchant for cancellations – detriment to a business’s ranking as a marketplace merchant.
The simple solution, therefore, is automating the entire process with BalanceMaxx, a marketplace plug-in developed at NetSphere Strategies. From processing new orders to maintaining inventory, it removes the administrative burden of keeping up with sales and inventory balances that change by the minute.
BalanceMaxx works as a cloud-based monthly SaaS subscription that downloads new marketplace orders, uploads and acknowledges order status information, and synchronizes inventory levels and pricing updates from the merchant’s system of record (SOR) to each marketplace it sells on. It also maps each SKU length from each marketplace so the merchant’s inventory management solution ensures transactions are properly recorded. Essentially, BalanceMaxx acts as an automated gateway service between the marketplace and the SOR, providing an ROI in just a few short months.
- Retrieves new orders from a marketplace and upload those orders to the merchant's SOR
- Acknowledges orders back to the originating marketplace to include a tracking number
- Synchronize inventory levels from a merchant's SOR to each marketplace the merchant sells on
- Prevent overselling situations whereby purchases are made for out-of-stock goods
- Record bookkeeping transactions once new downloaded orders are submitted to the SOR
- No extra hardware or software costs required – just an Internet connection and a browser
- Manage orders, inventory and pricing so you can spend more time building your business
- Profitable channel to sell excess inventory, outdated inventory or manufacturing defects