DimeTyd Launches Cash Application and Reconciliation Consultancy for Amazon Vendors
DimeTyd, the advanced logic-based online engine that offers Amazon vendors seamless recuperation of profit leakage and end-to-end FinOps AR solution, announces the availability of Cash Application and Reconciliation Consultancy. An extension of DimeTyd’s platform, the new feature incorporates automation and Machine Learning (ML) to help online product vendors maneuver through Amazon’s Marketplace, audit invoices, and ensure remittances are appropriately applied to each ledger/ sub-ledger on a timely basis to ensure correct AR positions with Amazon.
“Keeping track of money transfers, correctly invoicing, and meeting stringent Amazon regulations are challenges online product vendors often struggle with,” said Rohan Thambrahalli, president and founder of DimeTyd. “Cash Application and Reconciliation Consultancy helps Amazon vendors ensure all funds are allocated, and the Amazon account is timely reconciled with no leakages which can lead to misrepresentation of Financials.
Through the new Cash Application and Reconciliation tool, vendors can track remittances by date, seeing what invoices were paid and how those payments should be applied. Vendors can upload the data into their ERP, complete the transactional process, and successfully meet Amazon’s demands and required processes.
Cash Application and Reconciliation leverages advanced Robotic Process Automation (RPA), which culls data from 20 pages of line items, then compiles and indexes the data for a streamlined review of accounting activities. ML categorizes multiple transactions into sub-ledgers and then exports as needed. As the Cash Application and Reconciliation platform learns, it gets faster, more efficient, and streamlines the entire process—the time it takes to complete a full financial transaction is reduced from many hours, even days, to on average less than one hour.
“Amazon vendors face an ocean of complexities doing business on the marketplace. DimeTyd’s Cash Application and Reconciliation helped us simplify online business finances and save countless manhours,” said Jennifer Greune, director of e-commerce at EarthLite. “DimeTyd’s Cash Application and Reconciliation found problems we did not know existed; they saved us money and are now part of our permanent billing processes.”
DimeTyd’s Cash Application and Reconciliation Consultancy feature is available to vendors on a monthly subscription basis.
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