You might be surprised to learn just how much money Amazon sellers are leaving on the table every single day due to missed claims and reimbursements. Many sellers don’t even realize it’s happening. On average, you could be losing between 1-3% of your annual revenue—money that could have been reinvested into your business or added to your profits
In this post, we’re going to explore three common scenarios that might be costing you money and offer practical steps to prevent these losses. After all, it’s your hard-earned cash, and even small adjustments can make a significant difference to your business’s future.
Are You Ignoring Claims? The Cost of Inaction
If you’re not keeping track of reimbursements or haven’t brought an auditor on board, you might be in a precarious position without realizing it. Amazon has specific time limits for filing claims related to lost or damaged inventory, incorrect customer returns, fulfillment errors, and more. Once those windows close, any recoverable funds are gone for good.
The Financial Impact of Inaction
Let’s break it down:
- 1% to 3% Loss: Many sellers who skip auditing typically lose this percentage of their annual revenue. That might seem small at first glance, but let’s check out the math.
- Real Numbers: If your business generates $1 million in sales a year, you could be missing out on anywhere from $10,000 to $30,000 annually. Think about what you could do with that money—hire new team members, launch new products, or take home additional profit.
And remember, Amazon could owe you piles of money for missed claims and reimbursements that you may not even be aware of!
Long-Term Consequences
These missed opportunities can snowball. A $10,000 loss this year could mean fewer resources next year, affecting your growth potential. It’s not just about today; it’s about where your business could be down the line.
Why This Is Urgent
Time is of the essence when it comes to claims. Every day that goes by without an audit means you’re missing out on potential reimbursements. The faster you act, the more you can save.
Time-Sensitive Nature of Claims
The clock is ticking on Amazon's claims process. If you wait too long to file a claim for lost inventory or fulfillment errors, you risk losing out on what could have been a straightforward reimbursement. Acting quickly ensures you don’t miss out on recoverable funds.
What You Can Do
- Start Auditing: It’s time to get proactive. You can try auditing it yourself using self-service tools or bring in an experienced auditor. The sooner you get started, the better your chances of reclaiming FBA refunds and reimbursements.
- Consider TrueOps: With their cutting-edge reimbursement services, TrueOps is dedicated to maximizing your profits and helping you reclaim any money Amazon may owe you. Their advanced technology ensures you never miss a reimbursement opportunity, uncovering every dollar Amazon owes you!
Is Your Auditor Cutting Corners?
Hiring an auditor is a smart move, but it’s crucial to ensure they’re doing a thorough job. The quality of auditing can vary significantly between firms, and lapses can result in missed reimbursements.
Why Auditor Quality Matters
- Basic Checks Only: Some auditors may only look for basic claim types or neglect to verify if Amazon has successfully processed your claims. This oversight can lead to money slipping through your fingers.
- Outsourcing Issues: If your auditor is outsourcing to teams overseas, they may struggle with quality control. When claims aren’t managed properly, you could miss out on critical reimbursements.
The Risk of Inconsistent Auditing
Internal changes or acquisitions can also disrupt auditing quality. These transitions often lead to lapses in oversight, making it easier for claims to be overlooked or mishandled.
How to Ensure Your Auditor Is Doing Their Job
- Get Another Audit: It’s extremely difficult to assess how your auditor is doing without your own auditing technology. Instead, try getting an audit from a leading provider to see what gaps they can find. It’s more accurate and it saves you the hassle.
- Speed Meets Efficiency: Get started in just 3 minutes! Unlike other providers that can take days or weeks, TrueOps ensures a fast onboarding experience. This streamlined process makes it easy to dive right in and start recovering what’s rightfully yours.
DIY Reimbursement: A Costly Mistake?
Many Amazon sellers try to handle reimbursements internally, thinking they’re saving money. However, this approach often leads to significant losses.
The Complexity of Amazon Claims
Reimbursement claims can be intricate. They require careful tracking and validation, which can be a daunting task. If you’re not fully versed in Amazon’s policies and don’t have extensive experience on how to fight Amazon’s frequent rejections, you might miss out on reimbursements.
- Multiple Layers of Tracking: Lost inventory, incorrect refunds, and overcharges involve various steps and details. Even your best employees might not check every claim type, confirm every reimbursement, and catch every case before it expires, leading to missed opportunities.
Real-World Examples of Losses
Take the case of a seller who relied on self-service tools and internal audits. Over the years, they ended up missing nearly $200,000 in reimbursements. It wasn’t until they brought in an external auditor that they realized just how much money had slipped away.
Ways To Prevent Losses
- Perform External Audits: Even if you trust your internal processes, it’s vital to conduct an external audit. This fresh perspective can uncover overlooked claims and recovery opportunities. Even if you want to continue doing it in-house, it pays to have a reliable audit provider as a backup for anything your team might miss.
- Choose TrueOps: In just 3 minutes, you can unlock hidden profits through their user-friendly platform. Plus, if you ever need support, their dedicated support team is available to assist via chat where you’ll be connected to a live auditor. Forget about submitting requests! They automatically issue credits when Amazon reverses a prior reimbursement, making the recovery process seamless.
Why You Can’t Afford to Overlook Reimbursements
Chances are, you’re leaving money on the table. Missed claims are a common issue for Amazon sellers, but they’re entirely preventable. By taking a hard look at your current processes—whether that involves hiring a new auditor or evaluating your existing one—you can recover lost funds and protect your revenue.
The Importance of Regular Reviews
Make it a point to review your claims process and auditor performance regularly. This should be a part of your routine, allowing you to catch potential losses early and act before it’s too late.
Take Action to Recover Lost Revenue
It’s easy to underestimate how much money is slipping through the cracks due to missed claims. When you consider that up to 3% of your annual revenue could be at risk, it’s clear that this deserves your attention.
- Regular Audits: Make sure you’re conducting regular audits and closely evaluating your auditor’s performance.
- Bring in External Expertise: If your internal processes aren’t cutting it, don’t hesitate to seek external help.
The Path Forward
TrueOps offers powerful solutions that ensure every potential reimbursement is captured, optimizing your Amazon reimbursement process. Their commitment to top-tier customer service means every decision they make is driven by providing exceptional support to their clients. Why accept a 25% cut in successful reimbursements? At TrueOps, you pay only 10%, ensuring your bottom line benefits from every successful claim.
Have 3 Minutes? Let’s improve your profits. Sign up for a free audit with TrueOps and see how quickly you can recover lost revenue. Your first $1,000 in reimbursements are on us—use code JOIN1K to get started!
Taking action today can unearth hidden profits and set your business on a path to success. Don’t let missed claims hold you back—TrueOps is ready to help you reclaim what’s yours.
