E-commerce major Snapdeal has announced that it has suspended the accounts of 23 sellers on its platform. The company had recently introduced new processes to its seller management systems. With the new update, these sellers were found to be indulging in unfair business practices.
The refreshed seller interface backed by integrated analytics allow concurrent screening for multiple financial transactions. “This process leads to an efficient settlement cycle enabling swift reconciliation of accounts and faster payouts to sellers,” said Snapdeal in a statement.
With the implementation of the new process, seller payments processing will be faster and any disputes- financial or product related- will get flagged sooner.
“Sellers are a crucial part of Snapdeal’s ecosystem and we believe that our sellers play a critical role in creating a great experience for our customers. We are continuously working towards creating an enabling environment for these entrepreneurs. We are implementing data driven financial tools, which will help us execute faster and accurate payments and reconciliation cycles,” said Anup Vikal, CFO, Snapdeal.
In the last 6 months, it has introduced several initiatives aimed at sellers, which includes improved user interface, Snapdeal Ads, SD Plus Service, SD Advisor and Capital Assist.
Snapdeal, which presently boasts of a seller base of 2.5 lakh, is aiming to bring 1 million sellers on its platform.
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Source – ET Retail