eCommerce specialist Volo Commerce (Volo) has announced enhancements to its Reporting & Analytics module – Volo Vision – including full cost calculations for profit and loss analysis.
The upgraded module will help improve profitability and decision-making by delivering accurate visibility of margin, while enhancing productivity and reducing risk by eliminating manual data entry.
Volo Profit & Loss Reporting is freely available for all customers using the Volo platform to sell across multiple online channels. The module improves profitability by presenting an accurate picture of the margin sellers make when they sell their items. The module enables granular recording and accounting for costs and analysis, down to the individual SKU level. Sellers can set the degree of detail required and introduce any costs outside of the Volo platform to deliver the most accurate profit or loss figure for a given item or order.
Volo Profit & Loss Reporting supports standard cost elements, including Channel fees, Shipping fees and Payment fees. There are also additional generic fee types that sellers can customise to suit their unique business such as foreign exchange, packaging, Amazon FBA or translation. Sellers only need to set up their fees once and these rules will be applied every time, saving time and reducing the risk of errors that arise from manual data entry.
A range of insightful reports is available 'out of the box'. The Margin Breakdown report provides analysis by supplier, channel, channel account, country and folder plus an extensive range of filtering options. SKU Margin is a detailed breakdown by SKU allowing sellers to see their most and least profitable products. The Order Margin report presents a breakdown at order level detailing the margin and margin percentage for each order. Margin Performance provides detail of margin and margin percentage over time, while a detailed Single Order report displays various aspects for the selected order. This includes a financial summary panel that enables the order fees to be calculated and displayed against the order.
Commenting on the release, Paul Watson, CEO of Volo Commerce, said, "We know from our experience that many merchants and retailers either spend a lot of time and effort analysing their profit and loss, or don't do enough of it. It also happens after the sale, and feels more like an audit than a way of actively doing business. We've brought the intelligence into our solution so that you can capture costs during the general course of your business and have the answers at your fingertips. In so doing, we want to free sellers, from having to extract data, import data into spreadsheets, build their own formulas – and do this repeatedly.
"We've enhanced the Volo platform to cut down on both the time and risk factors. We've also built flexibility into the upgraded module so that our sellers can even add in other costs that we don't see on the platform. By providing accurate, individually-focused information, our users can make much better purchasing, pricing, promotional and cross-border decisions, boosting profitability and driving growth."