Vendor Compliance Guidelines: Fill & Download for Free

eCommerce drop shipping business can be boon to any online business looking for an easy & convenient logistics method. There are several best practices that can be followed when considering drop shipping.Product portfolio showcaseThe drop shippers may have the product in stock, but you should display the products with all the details clearly like images, description, shipping, delivery, payment options, & everything that a customer wants a peek before making purchases.Integrate drop shippers APIIntegrating your drop shipping vendors API directly to your website administrative panel makes it easier to manage them efficiently.Sign off compliance papersAll departments should contribute to, and sign off on your vendor compliance guidelines and vendor scorecard. Both should be revisited annually.Sales forecast communicationRoutinely communicate sales forecasts with the drop shippers, at least every quarter of the year, to reinforce a better communication & relationship with them.Evaluate inventory & stockFrequently check the inventory & stock to keep your customers informed about the availability of the products on a regular basis.Improve sales & profitsChallenge and involve your drop-ship vendors on how you can collectively improve sales and fulfillment and increase profits.Evaluate delivery timeStick to the estimated delivery date that you throw at your customers, make sure to evaluate your drop shippers scheduling to match with yours.Customer serviceAttend to the customers spontaneously & inform any issues directly to the drop shipping vendor & follow up to make sure they are fulfilled smoothly.All these best practices must be followed in order to have a smooth order fulfillment which ultimately results in happy customers & better business.

As per a Markets and Markets report Risk Analytics Market will be worth 30.18 Billion USD by 2021North America is expected to have the largest market share and dominate the market due to increasing adoption of risk analytics software and strict compliance guidelines. Europe and APAC also offer potential growth opportunities due to the rise in technology penetration.Major vendors include IBM , SAP , SAS, Oracle, Verisk. There are new innovators in the market such as Intellect SEEC and Social Intel.Detailed report can be accessed at http://www.marketsandmarkets.com/PressReleases/risk-analytics.asp

In today’s marketplace, there are quite a few payment gateway providers that service India-based vendors, and the “best” one for your business will depend almost entirely on factors such as:the features and functionality your business model requiresthe countries you wish to accept transactions fromand the currency or currencies you want to work withBecause there is no single payment gateway provider that services and meets the regulatory and compliance guidelines for every region of the world, the first thing you must do is to determine if you need to perform both authorizations and settlements in foreign currencies.If you already know you’ll be accepting transactions in foreign currencies, you’ll need to establish an “official presence” in each country whose currency you will accept. This can be accomplished by obtaining a merchant account in each country through an acquiring bank partnership.Alternatively, you could partner with payment processors willing to perform cross-border transactions and currency conversions (typically, for a fee in addition to the flat per-transaction fee you’ll already be paying).Conversely, if you only a need to conduct transactions in a single currency (e.g. the Indian Rupee), you can partner with any processor in India supporting that particular currency.If your business model only requires the most basic types of transaction functionalities (no split payments, etc.), partnering with Payvision, PAY.ON, or Paysafe might be a good option for you.However, if your needs are more complex, and you require a more customized solution, partnering with an open source payment gateway software provider such as UniPay Integrated Payment Gateway is an excellent choice. With a robust selection of fully customizable features, UniPay’s software can be seamlessly integrated and certified with acquiring banks in your desired regions.Unfortunately, no matter where you are located in the world, if you are a startup company you may encounter additional challenges in simply finding a payment gateway provider willing to partner with you. Startups are not particularly appealing due to the low numbers of transactions processed and their initial inability to generate enough profit to justify the financial and legal risks assumed.Summary:Because there is no payment gateway that services every country in the world while complying with all regulatory requirements, you'll first need to decide which countries and currencies you want to service and accept. The UniPay Payment Gateway platform offers a robust selection of fully customizable features and can be seamlessly integrated and certified with acquiring banks in your desired regions. If you are a startup, due to low transactional volume, you may find additional challenges in locating a payment provider willing to partner with you.You can learn more from these resources:Accepting Credit Card Payments in Different CurrenciesChallenges of Startup MerchantsOr review our video we recently released, to learn more about fundamentals of payment processing :