Bluevine’s Payable Solution, Amazon’s Fulfillment Centers and More News
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It’s the first Friday of the month, and we couldn’t be more excited. August is finally here, and we’re ready for even more sunny days and jaw-dropping eCommerce news. This week, there’s more good information than bad, which is even better. So, take a break, kick back for the next six minutes, and enjoy the latest scoops in our Friday News Digest (and don’t forget to check out what happened last week too).
Today’s news is 1454 words and takes 6 minutes to read.
Bluevine’s Payable Solution
Bluevine, a leading innovator in small business banking solutions, has unveiled a sophisticated accounts payable (AP) platform. The new system, embedded within Bluevine Business Checking accounts, centralizes and automates the manifold complexities of business payments management.
Bluevine has crafted financial services specifically to cater to the nuanced needs of small businesses. The company first ventured into the sphere of business payments around 10 years ago. And in 2022, it introduced its initial bill pay offering. This year, Bluevine expanded its repertoire to include international payment capabilities. This move further boosts their service offerings.
Their latest venture, the AP solution, is a comprehensive tool. It comprises a centralized unpaid bills dashboard, the ability to grant access based on specific roles within a company, an automatic reconciliation feature with QuickBooks Online and many more.
Charles Amadon, SVP and GM of Banking at Bluevine, emphasizes the company’s commitment to alleviating the operational challenges faced by small businesses. Each feature is meticulously designed to enable seamless growth for their customers. Testimonials from clients, like Cayden Young, founder of Tech Leaf, underline the platform’s effectiveness. He reports an equivalent of a full working day’s savings each month. This highlights the exceptional convenience and efficiency offered by Bluevine’s AP features.
What does it mean for eCommerce sellers?
Bluevine’s sophisticated accounts payable platform brings a substantial change for eCommerce sellers. It offers a simplified, streamlined process for managing business payments. The platform’s features provide sellers a clear overview of finances and improved task delegation. They are saving valuable time and resources.
The automatic reconciliation with QuickBooks Online ensures accurate record-keeping and easier financial analysis. This seamless integration empowers sellers to make better-informed financial decisions. It enhances control and promotes business growth. In essence, Bluevine’s new offering sets a new benchmark for business payment management.
And while we’re on the subject of payments, did you know that you can find business calculators on our website? Whether you’re selling on eBay, Amazon or anywhere else, you will need to calculate all the costs regarding orders and shipping. So give our business calculators a try today.
Big Retailer News
Amazon’s Fulfillment Centers
Amazon’s restructured approach to its fulfillment centers is proving to be a major success. The company has reported delivering its largest selection of products to US Prime members at unprecedented speeds.
The novel approach, as outlined by CEO Andy Jassy in his annual letter to shareholders, involves splitting Amazon’s national fulfillment network into eight self-sufficient regions. The company made this strategic move to reduce costs and make delivery times faster.
According to recent statistics shared by an Amazon spokesperson:
- In Q2, over half of Prime member orders arrived the same or next day in the top 60 largest US metro areas.
- Amazon has so far delivered more than 1.8 billion units to US Prime members the same or next day in this year alone. That’s almost quadruple the delivery speed compared to the same timeframe in 2019.
- The company shipped more units with Same-Day Delivery during Prime Day this year than any other two-day period in its history.
Doug Herrington, the CEO of Amazon Stores, confirmed that 300 million items are currently available with free Prime shipping. Additionally, tens of millions of the most sought-after items are available with free Same-Day or One-Day Delivery.
Regarding the regionalization of its US operations network, Herrington explained that dividing the country into smaller regions has made reaching customers faster, less expensive, and environmentally friendlier. Currently, over 76% of fulfilled orders get dispatched from within the customer’s region. This is minimizing both delivery times and emissions.
Check out our recent article on the 7 best international shipping companies in 2023.
Etsy Seller Boycotts?
Etsy is facing significant backlash over its reserve system, which freezes up to 75% of sellers’ earnings for up to 45 days. This policy has left many sellers cash-strapped, sparking a call for a platform-wide boycott. The action is causing sellers to explore alternative platforms to maintain their cash flow.
Various social media groups like the Etsy Reserve Strike Group have emerged. They are voicing their frustrations and raising concerns with the UK’s Office of the Small Business Commissioner (OSBC).
A seller named Pietra highlighted the severity of the situation. She reported over £15,000 held by Etsy, leaving her unable to afford basic necessities. Sellers argue that Etsy’s protective measure unfairly penalizes them by withholding funds for extended periods without apparent reason.
Accusations that Etsy manipulates sales visibility for those who complain have been vehemently denied by the platform. If estimates are correct, the reserve holding could affect nearly 9% of sellers worldwide. That’s equating to around 90,000 UK sellers.
The controversy has fueled outrage and increased sign-ups on competitor sites. The British Craft House reported a surge in new users, promising not to withhold sellers’ money. Discussions about a broader boycott, including putting Etsy accounts on “holiday” or “vacation mode,” are ongoing.
The situation has spotlighted the need for greater transparency in Etsy’s rules and procedures. The platform advises sellers to follow certain steps to avoid their funds getting placed in reserve, promising continued improvements to their programs.
And what are your thoughts on these accusations? Feel free to leave a comment at the end of this article.
Also in the News
- AI autonomous agents. Medium.
- B2B technology boosts sales. Digital Commerce 360.
International Retailer News
Intel’s New Chinese Chip Innovation Center
In a strategic move, Intel is boosting its Chinese relations by launching a new innovation hub in Shenzhen. This aims to foster domestic start-ups despite increased US governmental pressure on semiconductor firms to dial back trade with China. Partnering with the Nanshan district government, the hub will specialize in AI, chip applications, and edge computing.
The collaboration with Intel forms part of the district government’s aspirations to morph into a global “innovation highland.” It hinges on a blend of industrial policy, Intel’s product and technology ecosystem, and innovation from local allies. Despite escalating chip export restrictions due to the US-China tech war, Intel strives to sustain business operations in the world’s second-largest economy.
To further bolster its commitment, Intel has teamed up with six local tech firms. They will form joint labs focusing on areas such as low-carbon, energy-saving IT solutions, and smart transportation. In a recent event, Intel also announced a new processor designed to train AI systems. This move fulfills US export requirements and offers a solution to Chinese clients in need for advanced AI chips due to US restrictions.
What does it mean for sellers?
The joint labs and new processor by Intel could stimulate production of innovative, low-carbon, energy-saving IT solutions. These developments might create fresh product categories for sellers to tap into.
However, given the tense US-China trade environment, sellers need to stay informed about regulatory changes which could impact trade and supply chains. The progress of this Intel initiative could also intensify competition, urging sellers to invest in product differentiation and innovative strategies.
Shopee Live Selling
As an influential feature of the Shopee app, Shopee Live has reshaped the e-commerce landscape for Filipino sellers and content creators. Its interactive tools boost online visibility and enhance customer engagement. By transforming the shopping experience into a dynamic journey, Shopee Live not only expands a business’s reach but also deepens the seller-buyer connection.
How does it help sellers?
Leveraging Shopee Live’s potential, Rina, founder of Naguia Essentials, has revolutionized her business approach. Her active participation in Shopee Live campaigns has skyrocketed her sales while promoting effective skincare and haircare practices. Utilizing interactive features such as Shopee Coins and Hammer Games, Rina has successfully grown her customer base and cultivated a loyal fan community.
Shopee Live also offers content creators like Edmar, a Shopee Idol, a platform to grow their online presence. Edmar’s interactive live streams, complete with polls and games, have earned him a substantial following and an additional income source. Thus, Shopee Live, with its powerful and SEO-friendly features, provides a robust platform for businesses and content creators, fostering growth and community building in the digital marketplace.
Also in the News
- Consumers tackling environmental issues. Orange Magazine.
- EMS tracking. Tech Bullion.
Webinars
For everyone
Various dates: Amazon advertising’s global webinar program continues with 20+ webinars scheduled, covering Prime Day Preparation, Sponsored Products, Sponsored Brands, reporting, optimization, and other tips. Amazon.
For US sellers
August 10: Let’s talk TikTok. Tinuiti.
For UK sellers
Various dates: Amazon advertising’s global webinar program continues with 20+ webinars scheduled, covering Prime Day Preparation, Sponsored Products, Sponsored Brands, reporting, optimization, and other tips. Amazon.
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