FBA Reimbursement for Amazon Mistakes It Hasn’t Refunded
If you are an Amazon FBA (Fulfillment by Amazon) seller, chances are you are owed FBA reimbursement for Amazon mistakes in handling your inventory. It’s not really a surprise that Amazon makes mistakes; as the largest global online retailer handling over 350 million products, you can’t expect it not to make mistakes. What you might expect is that when it makes mistakes, Amazon automatically refunds you for its mistakes.
Except, it doesn’t. In most cases, Amazon sellers have to track these mistakes and then file claims for FBA reimbursement. And if they don’t, failure to report and claim FBA reimbursement can affect profitability. Indeed, owed FBA reimbursements can amount to as much as 3% of your annual revenues. If your sales total about a million dollars annually, that’s $30,000 left unclaimed. Even if you are making less, whatever the amount is, it’s money that rightfully belongs to you as FBA reimbursement.
So how can you avoid taking this kind of hit, particularly if you don’t have the time and resources to constantly track your inventory for damages, overcharge fees, or incorrect refunds?
Fortunately, there’s a relatively easy and inexpensive service to get you the FBA reimbursements you are owed. Let’s take a look at:
- The types of Amazon FBA reimbursement
- GETIDA for FBA reimbursement
- What makes GETIDA different and why you can trust them
- How to get started with GETIDA
Types of Amazon FBA Reimbursements
The five main reasons for Amazon FBA reimbursement are:
- Lost Inventory. Inventory can get lost in the course of shipping, warehouse misplacement in another FBA seller’s inventory, incorrect barcoding.
- Damaged Inventory. Amazon is responsible for damaging your Amazon inventory, and while it should automatically reimburse you, the only way to be sure is to continually review your Damaged Inventory Report in Seller Central.
- Returned Inventory. Sometimes customer returns are improperly credited and/or not returned to inventory. Again, Amazon is supposed to reimburse you, but doesn’t always; unreported errors for returns represent a significant proportion of FBA reimbursement discrepancies.
- Destroyed and Disposed Inventory. Amazon can do this without your permission, but does need to provide FBA reimbursement.
- Amazon FBA Fee Overcharges. Incorrect product measurements can result in higher storage fees; it is your responsibility to determine if you are overcharged and provide proof in a claim filed with Amazon.
Note that claims for any of these errors must be filed within 18 months of its occurrence.
You probably don’t have the time to constantly audit Amazon for possible discrepancies and/or inadequate Amazon FBA reimbursement. You could hire someone to do this, but that adds salary overhead to what are likely thin margins. Plus, additional drawbacks are that whether you hire someone directly or a virtual assistant, you have to train them (assuming you yourself know what to look for) and trust them with access to your Amazon seller account.
The best solution to get your FBA reimbursement without committing to upfront expense is GETIDA.
Let’s take a look at what GETIDA is and how they get you the FBA reimbursements you are owed.
Founded in 2015 by veteran Amazon FBA sellers Max Borin and Yoni Mazor, GETIDA (the acronym stands for GET Intelligent Data Analytics) stemmed from their own frustrations in dealing with an overwhelming flood of data as their Amazon business scaled from zero to $100 million in yearly sales.
The question they faced was how to accurately check and cross-check their high volume of transactions, especially to ensure they were receiving owed FBA reimbursements Amazon frequently overlooked. They developed a technology that collected all their fulfillment data and cross-referenced it with multiple other data types. Then they put together a dedicated team to file claims for Amazon FBA reimbursement with Amazon based on discrepancies uncovered by the software.
In fact, they discovered a discrepancy rate that ranged between 1-3%. If you’re making $100 million in sales, 1% adds up to a lot of money ($1 million).
The potential to help other Amazon sellers recover FBA reimbursement resulted in selling their retail business and establishing GETIDA as the leading global solution provider in this specialized niche.
GETIDA is an end-to-end solution, meaning unlike other services that just analyze the data leaving you to file and follow-up on claims, GETIDA does both. GETIDA auditing software keeps track of your Amazon FBA inventory transactions, refunds, seller data analytics, and FBA reimbursements easily and clearly. You get a dedicated Amazon FBA experienced account team that follows up on your claims for as long as it takes to get you the money you are owed.
It’s also customizable. GETIDA can be your primary auditor or secondary source to double check your own work or that of another provider. You can also take advantage of real-time visibility with an on-line dashboard that displays all open cases, case status, and received reimbursements, as well as FBA inventory transactions, refunds, and seller data analytics. If that weren’t enough, you also receive detailed monthly reports.
GETIDA is also constantly learning and building on what it learns. A unique new discrepancy on one customer account becomes something to scan for on all other customer accounts.
GETIDA is an advocate for the Amazon seller community. It sponsors a wide range of seller education programs as well as seller events; most are free or discounted for GETIDA customers. GETIDA also offers complementary consulting services on how to grow your business. Also check out the GETIDA podcast Prime Talk, which shares seller success stories and tips on improving your business.
GETIDA is a member of Amazon’s Service Provider Network and the Amazon Marketplace Appstore. GETIDA is also the 2020 winner of the Gold Stevie Award in the SaaS Enablement as a Service category from the American Business Awards.
Moreover, GETIDA is the largest provider dedicated to Amazon FBA auditing and reimbursement, analyzing literally billions of dollars of transactions daily.
GETIDA for FBA Reimbursement
So, what’s the catch? This must be expensive, right? Or do they want some ownership stake in the business?
No to both questions. In fact, GETIDA is as risk-free as it gets. There’s no charge to sign up. And there’s no charge for GETIDA to find discrepancies in your inventory. What GETIDA does charge is a reasonable percentage of a successfully filed claim. Considering the money you don’t even know about that you could be losing out on in unclaimed FBA reimbursements, it’s a small price to pay.
To sign up for free at GETIDA, go to the website and click the “Free Sign up” button. Provide the following information:
- Your contact details
- API credentials to contact to your Amazon data
- Billing information (which, again, is only for successful FBA reimbursement claims)
- A user seller account with limited permissions
GETIDA then reviews the previous 18 months of data to find discrepancies where FBA reimbursement may apply, and generates a report estimating the potential amount owed. Depending on the quantity data, you’ll have an answer in a few hours to a few days.
There’s no obligation to proceed. Most sellers do, as the potential FBA reimbursement is usually considerable. And there’s nothing for you to do. GETIDA handles the entire claim process on your behalf. And to reiterate, only charges when a claim gets the FBA reimbursement you are owed.
If that weren’t enough, you can get $400 in free FBA Reimbursements to try them out with zero risk.
It’s your money just waiting to get claimed. GETIDA can get it done.