According to export.gov, Malaysia is considered to have a high rate of eCommerce usage. Almost 50% of Malaysia’s population which means there are around 16.53 million online shoppers in Malaysia. Moreover, the increase in users in electronic devices which lead to people can easily purchase through online wherever they are and at any time. Not only that, our government encourages people to start-up e-commerce businesses. Hence, there are more and more online sellers appearing.
What are the challenges that eCommerce business owners will be facing?
1) Customer service issueDuring online shopping, customers tend to emphasize customer service, online seller needs to patiently answer every question they ask.
2) Product returns and refunds
Sometimes, the product is damaged during the transporting, when the customer receives the product, they will return the product and refund. Hence online sellers need to bear the risk.
3) Maintain customer loyalty
The competition in online shopping is too intense, it is very difficult to maintain the loyalty of your customers.
4) Financial report issues
When you sell your product on multiple platforms, this will increase the difficulty for bookkeeping. You need to spend more time tracking your orders, inventories, bookkeeping and managing invoices.
5) Accounting problems
Some business owners do not have accounting basics so it is hard for them; but there are others that do not have time for it. So they tend to spend a lot on hiring accountants, but it is costly for some e-commerce business owners to hire an accountant. Besides, taxes also might be an issue for business owners as when the bookkeeping isn’t accurate or incorrect declaration tax, this will lead to fines and also an audit request from LHDN. This might result in jail time.
Integration with Biztory
We have good news!! Biztory is integrated with SiteGiant. Now, Biztory users can directly sync the data from SiteGiant. Once Biztory users link their SiteGiant account in Biztory and activate Auto Sync function, the Sales and Payment received will automatically be recorded in Biztory account. This will help Biztory users save their time and focus more on sales and revenues. In addition, through this integration between Biztory and SiteGiant, Biztory users can speed up their bookkeeping process while they are busying on their online business. Furthermore, Biztory does provide Auto Track Inventory function which allows users to easily view and access their inventory stock level and items in a glance.
Besides, one of the useful features is Profit and Best Seller Analysis, we will provide product sales reports and have alerts when your stock level is low, so that our user can always have sufficient levels of inventory to avoid back order to customers.
Moreover, Biztory does provide you with a Tax Estimator that allows you to estimate total payable taxes. So that business owners can always ready for tax submission as all transactions will automatically sync into our accounting system for tax filing purposes.
About Biztory
Biztory is a cloud accounting software that allows you easily access your company’s progress and cash flow wherever you are, through any device that has an internet connection. Moreover, you can get on hand easily with the help of Biztory as everything in Biztory is designed to be user-friendly and also Biztory provides a solutions page with tutorials to help customers to familiarize themselves with Biztory software. Even if you are not an expert on accounting or tech-savvy, you still can easily manage your business through Biztory.
The idea of Biztory is to provide help to people especially in SMEs to run and maintain their business successfully. We believe that if the business owners of SMEs do not take care of their cash flow and expenses of their business, this might lead to business problems or even worse the business might need to close down. With Biztory, business owners can have no worries as they can note down their invoices, purchases, expenses and also do their monthly bank reconciliations.
Why does your online business need Biztory?
Biztory does provide you with comprehensive help such as managing Quotation and Invoice. For example, when you are outside, but you need to send/draft out the quotation or invoice urgently, you can get it done within a few clicks on any device around you with an internet connection such as a smartphone.
Not only that, you can have a better understanding of your business performance as Biztory allows you to have an overview of your Cash Flow. Through Biztory, you are able to track your sales, expenses and also your overdue business accounts.
Besides, Biztory does provide you with an Inventory Management function which allows you to manage your inventory such as analyse which products are your best selling products and you can restock more of the product, and for slow-moving inventory, you can reduce the orders to avoid excess inventory.
Most importantly, Biztory has a Cloud Storage function which lets you store all your important data safely on the cloud so that you can avoid losing data that is caused by hardware malfunction or stolen.
When SiteGiant users link their account in Biztory, they just need a few clicks then they can sync all of the orders to Biztory, and manage all orders, customers data, inventory. This can help them reduce their workload. At the same time, they can enjoy tons of benefits such as automated bookkeeping, monitoring product performance etc.
Hence, don’t hesitate to enquire about Biztory. Come and get your 30 days free trial NOW!!
