How Purplle achieved 7x faster payments reconciliation

Company Overview

Purplle is an e-commerce platform that lists 1000+ beauty brands and 60,000+ personal care products. With 13 warehouses and exclusive stores in tier-2 and tier-3 cities, Purplle offers a mix of online and offline presence to consumers.

HQ

Mumbai, India

Founded

2011

Industry

E-commerce (beauty/personal care)

Use Cases

Accounts Receivables, Continuous Close

The Challenge

Settling Cash-on-delivery remittances from multiple logistics partners took 3-5 days post delivery
Manually reconciling sales, inventory, bank and payment gateway statements was effort intensive and delayed book closure by 10-15 days
Inventory mismatches due to 20-30% return rate complicated stock adjustments
Team of 30+ involved in validations, reconciliations

The Solution

Automated, continuous data ingestion from payment gateways, banks, ERPs, and logistic partners
COD settlements auto-matched against orders and bank credits
Payment gateway settlements reconciled daily instead of at month-end
Inventory movements reconciled systematically between WMS and GL
Standardized and automated journal entries enabled continuous close

The Outcome

5x faster visibility into COD cash position
7x faster payments reconciliation
50% faster month-end close
70% faster inventory reconciliation
80% reduction in manual journal entries
10x faster MIS reporting