What problems our product will solve for e-commerce businesses
Many e-commerce sellers face issues with cash flow. Their expenses exceed their income for an extended period of time. There is not enough cash on hand and businesses are forced to close their doors.
Connex Inventory Planner will help businesses maintain positive cash flow by offering detailed, financial reports and forecasting. Many businesses create reports by hand. They export spreadsheets from their accounting tool and their selling channels. Using complex formulas and pivot tables, usually beyond their understanding, they try to create complex reports. The process is tedious and each time the data updates, the process repeats itself. The end result are reports that are out of date, missing crucial information and businesses owners realizing too late their expenses exceed their income.
To achieve our goal of positive cash flow, Connex Inventory Planner focuses on these areas:
- Providing up to date reports without spreadsheets
- Providing an easy way to share reports with stakeholders
- Forecasting product sales
Up to Date Reports
Many Amazon customers have razor-thin margins. Our Amazon dashboard will help sellers manage their expenses. Our Amazon dashboard will list total sales by product and their total expenses. This includes COGS, Amazon fees, and Amazon advertising fees.
Many business owners sell on channels that produce little or no revenue. Our orders dashboard will list total revenue by day, month and selling channel. Our dashboard will help business owners determine if a selling channel is performing well.
Many e-commerce sellers overstock or understock products. This causes them to miss out on sales, incur large storage fees, or sell products at a loss. Our product dashboard has reports on forecasting units sold seasonally and total revenue per product.
Many sellers are unsure when a financial event happens at their company. This includes a large dollar amount of refunds or meeting a sales goal. Connex can notify you that financial events occurred.
Many businesses are unable to share the reports with various members of the staff. Many companies use QuickBooks, a popular financial software, for their reports. QuickBooks Online has a five-user limit and QuickBooks Enterprise bills per user. The other problem with using QuickBooks for financial reports is that a user must give access to someone else. QuickBooks sometimes contains payroll information and personal information about a company’s customers. It becomes a security risk to share QuickBooks logins with users.
Our product will solve this problem by offering an affordable solution to sharing reports. Our solution is built to create the reports instantly for the user without any coding customization. Users will sign into our software, and everyone will see the same reports that auto update.
Spreadsheets require regular updating, and many businesses are too busy to perform manual data entry. The result is out of date information. One Connex customer said they accidentally purchased enough inventory to stock a low selling product 2 1/2 years.
Many companies have a large product list. Unfortunately, these businesses are unsure which products sell better than others. If the company had $1 million to buy inventory, these businesses are unsure which products to restock. Many businesses have a large product list, but only a small number of products represent 80% of the sales.
Our software will show users which products are selling well at times of the year. Our software will help businesses prioritize restocking best-selling products over others. Our software will give financial reports showing that some products you should be discontinued, or restocking should be a low priority.