Despite advancements in eCommerce technology, businesses that operate in digital commerce, particularly those with multiple storefronts, still lack a complete and unified multi-platform overview of their finances, says Samir El-Sabini, CEO and co-founder at Juni.
It’s a gap that the Swedish FinTech firm is aiming to close with a new Amazon storefront integration, alongside an existing one with Shopify, for sellers operating on the eCommerce platform, El-Sabini told PYMNTS in an interview.
“At Juni, our vision has always been to become the vertical financial platform for digital commerce, and one part of it is to be able to integrate with the tools that our customers use in the right way in order to reduce all kinds of financial complexities and operational flow,” he said.
According to El-Sabini, the latest solution will not only simplify sellers’ financial oversight, but give them a complete overview of their stores, multicurrency bank accounts and ad networks all in one place.
“If you have one store, we are able to then combine all your financial data from your Amazon setup into Juni, which means that you can see and get the right financial oversight in the same place as you have your rest of your financial data,” he explained.
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He added that the game-changing tool will also enable sellers to make informed financial decisions, whether it’s related to product, for research purposes, or when handling store requests, all while having greater oversight and control over their finances.
For those with multiple Amazon stores, they can now combine data from different stores, once spread out across different logins, all in one place on the Juni platform, he said. “We now enable them to use one platform to integrate with the multiple stores and therefore be able to view all their data together, which is game changing both in efficiency and in data visualization.”
El-Sabini said the “next game changer” will be to use the data they are gathering to automate action “so that if we see certain trends, we highlight it for you, but also propose action.”
This includes helping merchants better manage liquidity, make informed credit decisions, determine which products to sell more or less of and decide on ways in which they can improve their financial situation.
Finally, when it comes to platform integration, specifically for eCommerce sellers, it all boils down to determining growth indicators as early as possible, he noted, which in turn requires that various data sets are centralized in one place and are as easily accessible as possible for easy viewing.
Without that, succeeding in a data-driven digital world can be challenging.
“With our customers, we see clearly that when it’s not in one place, when it’s dispersed, or when they have to deal with different payment gateways and multiple storefronts, they [miss out],” El-Sabini said, “so we’ve tried to put it all together to help them draw the right conclusions. And by doing that, we can also provide them with [actionable] solutions.”
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