Stay up-to-date with the latest stories on accounting trends, news and pro insights.
Cut Client RMA Time and Keep Better Inventory
The holiday season is the busiest time of year for the most retailers–and that’s as true of returns as it is of sales. Most of your clients are prepared to deal with the influx of customers buying goods, but far fewer excel at managing returns effectively. Obviously, an angry customer is the worst case scenario, but business owners also have to consider how returns affect inventory and their financials. A comprehensive, automated (RMA) return merchandise authorization system saves retailers time, increases customers satisfaction, and gives business owners information that leads to better decisions.
RMA in brief
In essence, every business deals with two types of returned merchandise. The first is merchandise that is returned because it is defective, broken, or otherwise tampered with. The second is product that simply was not what the customer expected. Every company varies when it comes to the nature of their return policy—Nordstrom is generally accepting while Lululemon is notoriously strict—but they can all benefit from automation by implementing a return merchandise authorization system.
RMA offers businesses a structured system to process returns and a centralized location to store and analyze return information. It ensures that no matter which channel a return comes from, it is handled the same way. Keeping all that information in an up-to-the-minute database without spending hours doing manual entry is crucial for businesses no matter the season, but doubly so when volume is at its highest and every second counts. The faster a company can accept returns and offer refunds, store credit, or a replacement, the more likely they are to retain a customer.
RMA and inventory
Automated RMA is also essential for exceptional inventory management. Just as surely as you need to track the inventory coming in from vendors and out to customers, you need to monitor those goods coming back from customers. Once a customer sends back a product, you need to know what to do with it. This operation, which is part of reverse logistics, can quickly allow you to sell a perfectly good item that has been returned to the next willing customer. If you have a client that sells limited or exclusive products, facilitating these types of transactions is a huge benefit to them.
Similarly, RMA alerts you that an item returned as defected is neither sold nor in your inventory. When you take a step back and monitor trends, you might realize that a specific product has been returned a disproportionate number of times. If you notice that, you can inform your client about the pattern, allowing them to investigate if an entire box, palate, or shipment was faulty.
How AccountingSuite can help
AccountingSuite Professional With Ecommerce comes with robust RMA as part of its best-in-class inventory management system. In an environment where most businesses sell their wares through multiple channels, returns can come from anywhere at anytime. Swiftly and accurately dealing with those returns could be the difference between a one- and five-star review.
You want to provide your clients with five-star service as surely as they do their customers. If you’re not giving them actionable RMA data that allows them to make the best decisions when it matters most, you’re missing out on a major opportunity. Head to our pricing page to learn more how AccountingSuite can give you all the tools to truly make this season the most wonderful time of the year for your clients.
- Accounting Software
- Blockchain 101
- Bookkeeping apps
- Business Software
- Checkout Abandonment
- Client Success Story
- Client Write-Up Software
- Cloud Software
- eCommerce Accounting
- Inventory Management
- Project Management
- Projected Budget
- Tax Brackets
- Tax Tips
Recent related posts
- 5 E-commerce Terms Every Business Owner Should Know November 12, 2019
- Why Inventory Management Matters More Than Ever October 31, 2019
- The Top 3 Reasons Why Small Business Owners Need Accounting Software October 16, 2019