DSYH solves the biggest pain point in e-Commerce Seller Ecosystem of “Reconciliation” across multiple marketplaces from a single window cloud based secured SaaS. Any seller who sells on multiple portals (Flipkart, Snapdeal, Amazon, Paytm, etc.) processes orders and gets payments as per marketplace policies, where marketplaces deduct their charges, commission, weight handling and lots of other heads and finally pays to the seller. A solution to this problem is the platform, Don’t Scratch Your Head and BW Disrupt got into an exclusive conversation with the Sumit Karanji, Co-Founder, DSYH to know all about their platform:
Q- Tell us more about Don’t Scratch Your Head?A- For a seller dealing in multiple marketplaces, it becomes impossible to reconcile accounts, payments, returned orders, promotional amounts, etc. all under a single window. DSYH solves their reconciliation problems and gives them MIS of their profitability, collectible and exact picture of their accounting with marketplaces. Since the launch of its operations, DSYH has reconciled more than 500,000 orders with GMV of $7 Million through its platform, identifying between 3% – 10% of GMV as avoidable reclaimable charges per user.
Q- You recently got seed funding from Venture Catalysts. How are the funds being used?A- The funds of $250,000 will be primarily used in shoring up technology infrastructure, technology & customer support team.
Q- What are your key focus areas?A- We are pioneers in setting up Reconciliation-As-A-Service, first time wherein our key focus is on reconciliations of various types like payments, promotional amounts, Unsellable Re-imbursements, etc. in the e-Commerce seller ecosystem. We have also initiated reconciliations for marketplaces & SME Websites where we do third party vendor reconciliation [for example logistics, payments]. In the next 6 months we will be rolling out Big Data Analytics, which could be very helpful for a Credit Rating Score for banking and NBFC's to ease out their lending process to businesses in e-commerce.
Simultaneously we are preparing a white label solution for Chartered Accounts. Long term focus is to be a one point contact from listing, cataloguing, order processing, inventory and marketplace management while having reconciliations at every process point starting from India and expanding globally through alliances.
Q- What are the technologies that are being used?A- We are migrating towards using the best of technologies in JAVA, HIBERNATE, MONGODB and Big Data using NOSQL as the storage boxes and managed services with scalable code and cloud.
Q- What is your competitive advantage and how did you find it?A- The journey started off 15 years back when one of my partner Suraj ran a mobile retail store, and there was no apt accounting software that could solve the pains of a mobile retailer. Suraj then started selling on Ebay.Com, when Snapdeal was just a coupons site. Later expanded to selling on multiple marketplaces along with building our own marketplace "maniacstore.com." The pains of managing retail store, marketplaces and own marketplace from a single window finally triggered us to start building the solutions ourselves and that's when Harshad Vagdoda (aka Hari) joined Suraj in the journey as a CTO.
Hari had been a core member team at TravelGuru.Com and has more than 18 years of experience in technology. Suraj & Hari started building a software that could enable anyone to conduct offline store business, order processing and inventory management of marketplaces while also be able to run a marketplace all from the same window. As the software continued to be built, the team realized that they were not earning much or either not receiving correct payments. That's when the idea came to start with reconciliations and we started reconciling records and bills of logistics partners who billed us, payment gateways who billed us and also started reconciling each and every order being fulfilled on multiple portals. The software started becoming so big and complex catering to each and every need of e-Commerce Sellers is when Sumit Karanji joined us as a co-founder in November 2015. Sumit, a mechanical engineer and management graduate, has worked with Maruti Suzuki, Bajaj Allianz and also has 2 startups under his belt in automotive and healthcare. Sumit, Suraj and Hari then plugged out the part which was the biggest pain for e-Commerce and that is reconciliations and hence DSYH was born.
E-Commerce business is such that when a seller joins, he is under an assumption of receiving a payment after all deductions from marketplace. When the payment comes in, the story is completely different and there is a huge gap. Our solution detected that there is a big revenue leakage in the promised payments and received payments across various marketplaces. This revenue leakage is between 3% to a staggering 10% of the revenue done by a seller on ecommerce. For an average seller doing 200 orders a day with decent selling price, he can save around 15 lacs per year using DSYH. More than 60,000 hours of learning makes us the first mover in this space.
Q- Customer satisfaction is the key- How are the customer queries handled?A- We believe that our investors are not the venture capitalists or angels, but our real investors are our customers. That's how important they are for us. We work very closely with our early customers to the level that inspite of being a cloud based SaaS, apart from support tickets, we have formed exclusive Skype Groups with our customers wherein we rope in team members from technology and business and customers and solve their issues real time. We always remain in close contact with them and our core business philosophy is that DSYH is created by the seller, for the seller.
Q- You are a central pillar for the reconciliation between marketplaces, logistics, payment gateways and sellers. How is all of this managed?
A- For sellers on e-Commerce, our smart ruleboxes and algorithms calculate supposed to be deductible charges even before customer places an order showing pre-shipping profitability. Once the payment comes in, our system gives out a smart reconciliation report showing whether sellers has been paid less, more or if there are wrong deductions exactly under what head. We are also the only company providing past reconciliations. For any third party reconciliation like payment gateways, logistics, DSYH reconciles data records as per pre-fed terms and conditions and shows out perfect receivables and payables for SME's and marketplaces.
Q- Is the app particularly helping people just save money or there is more to it?A- DSYH helps sellers in reconciliation primarily. Apart from this, we have a in built POS module helping our customers to handle their retail business from the same window. We also help sellers to manage their omni channel daily order processing and inventory management. To the NBFC's we can provide smart data analytics helping them to underwrite loans to sellers by being a credit rating tool for them.
Q- Which platforms are you integrated with and which all are in pipeline?A- We support marketplaces like Snapdeal, Flipkart, Amazon, PayTM. We also support Fedex, Aramex, Bluedart for sellers who are in self-shipment mode. We will very soon integrate Shopclues, Myntra, Voonik in near future.
