Online market place Snapdeal is investing in IT and analytics to improve its seller management systems.
The SoftBank funded Snapdeal has more than 250,000 sellers across India. The company is on track to achieve its target of 1 million online entrepreneurs.
The new processes introduced in its recently upgraded seller app assisted the e-commerce major to bring efficiency to its seller management systems. The company said refreshed seller interface backed by integrated analytics ensures concurrent screening for multiple financial transactions. This process leads to an efficient settlement cycle enabling swift reconciliation of accounts and faster payouts to sellers.
The new processes have enabled Snapdeal to detect and suspend the accounts of 23 sellers, who were found to be indulging in irregular business practices.
Snapdeal said seller payments processing will be faster and any disputes relating to financial and or product parameters will get flagged and per well-defined parameters.
Anup Vikal, CFO of Snapdeal said, “We are using technology to improve the experience for sellers. SD Advisors work with their assigned sellers to assist them in conducting their business efficiently on our platform. We are implementing data driven financial tools, which will help us execute faster and accurate payments and reconciliation cycles.”
In the last 6 months, Snapdeal has come up with a host of seller enablement initiatives, including improved user interface, Snapdeal Ads, SD Plus Service, SD Advisor and Capital Assist. All these initiatives are focused on helping sellers become more successful on its platform.