Blue Dart is an excellent courier service company. It has many facilities like courier tracking, fast delivery, client support etc. Due to this, it is growing at an exponential speed. It is super useful to companies that do not want to spend extra on the delivery of products to customers. As delivery can be a very taxing task. Because if your company is a national company you have to be ready to provide delivery services to any part of the country. Hence companies are partnering with courier service providers like Blue Dart. As they provide delivery services not only domestically but also internationally.
As Blue Dart delivers the products of the company to the customers themselves. Hence, they are responsible for collecting cash on delivery payments for the orders. As there are multiple locations and thousands of orders placed on the site. It might get difficult to check if payment is received correctly for every order delivered.
Hence, Cointab’s software can be used for verification of the amount collected from customers by Blue Dart. Therefore, the company does not have to worry about checking every single payment. As our software can do that for the company. The software reconciles the Order Management Report with the COD remittance report to verify the COD amount collected. After this, the software produces a result table. It shows which payments are received correctly or not.
Order management system report
Consists of the Order ID, payment type, and payment amount collected from orders delivered. This records details of orders placed on the company site.
COD remittance report
This consists of the order IDs and payment amounts of COD orders. It is a record of details of the COD-type orders.
The software reconciles the OMS report against the COD remittance report and produces the output given below.
Reconciled with COD partners:
Here the orders are found in both the OMS and COD remittance. This shows that since the amounts match in both reports it is said to be reconciled.
Less Payment Received from COD partners
Here for these orders, the amount collected by Blue Dart is lesser than the amount supposed to be collected. This is determined by the software as the amount in COD remittance shows lesser than the OMS report.
More Payment Received from COD partners
For these orders, the amount collected by Blue Dart is more than the amount supposed to be collected. The software determines this because the amount recorded in the COD remittance report is more than the OMS report.
No Payment Received from COD partners
These order payments are the ones not collected or the invoice is not generated by Blue Dart. The software shows the payments missing in the COD remittance report.
So, this way Cointab makes the amount verification simpler for the companies and saves time. As they do not have to individually check each payment. The verification results are also displayed by Cointab in tables that are easy to understand. So, the finance teams can then use the displayed information to keep track of the payments collected.