Today we’re pleased to introduce Yoni Mazor who through GETIDA, the company he helped found, wants to get you free money that you are owed from Amazon FBA Reimbursements. It should be your money, but often Amazon merchants aren’t automatically reimbursed by Amazon and it’s down to you to claim.
If you’re one of those willing to pore over invoices and spreadsheets then of course you can make the claims yourself. If not, then GETIDA can do the work for you. Even if you do claim as many FBA Reimbursements as you can find, GETIDA can still go back and sweep up any that you missed.
Best of all, Yoni tells us that it’s a no win no fee service so you’ll only pay when Amazon reimburses you – This really is one of the few services that can put real cash back in your bank account and increase your Amazon FBA business’s profitability with no effort on your part, so if you’re interested read on:
Who is GETIDA?
I’m Yoni Mazor, the co-founder and COO of GETIDA. I started selling online in 2010 mainly on eBay and then started selling on Amazon FBA in the USA in 2013 together with my co-founder Max Borin. We fairly quickly grew the Amazon FBA business from £0 to £15 Million in annual revenue.
We started developing GETIDA in 2015 as a reliable solution to our Amazon FBA retail business that was generating over £15 Million in annual FBA revenue. At that point, we were also a part of a larger group that altogether generated about £75 Million in annual FBA revenue. With so much data coming in daily from all the Amazon FBA transactions, there was a clear need to set up two main components that will enable a high-quality and constant flow of FBA auditing and reimbursements.
The first component was building an advanced technology that would sustain the constant auditing of a large amount of data. In other words, develop technology for mass data auditing in real-time. The second component was, to build a dedicated team that is highly trained, and will submit all the cases that get opened with Amazon, and manage all the back and forth process of getting a case to finally being reimbursed by Amazon.
Once the technology and the dedicated team were successfully set up, we shared news about the unique solution we had created with a handful of friends from the industry who were also selling on Amazon. After hearing about this extraordinary solution we had successfully built, some friends starting asking for their own Amazon accounts to be helped as well, so they could also maximize their Amazon FBA reimbursements on a constant basis. Our friends said that they are willing to pay for the service, thus becoming the genesis of creating a viable business for this innovative solution, and for the company that was eventually to be dubbed GETIDA.
What does GETIDA stand for?
The name GETIDA is actually an acronym that stands for GET Intelligent Data Analytics (IDA). The hidden message behind the name is that it stores more than is apparent at first. There is a need to break down the components of the name GETIDA in order to find its true value and meaning. Much like when conducting an effective audit and analyzing data. There is more hidden than visible at first, but an effective auditor usually applies methods of intelligent data analytics to dive deeper and find more meaning and value with data. This essentially embodies the spirit and mission of GETIDA as a global leader in Amazon FBA auditing and reimbursement.
In the first 3 years of GETIDA, it mainly grew organically from word of mouth via its satisfied users. And at that point we decided to cash out from our retailing business and fully dedicate ourselves to growing GETIDA and helping Amazon sellers worldwide. In the past two years, GETIDA has positioned itself as the largest organization in the world dedicated to Amazon FBA auditing with billions of dollars of auditing being managed daily.
How can GETIDA help Amazon FBA sellers?
GETIDA is a technology and services company that helps Amazon FBA sellers audit their Seller Central accounts and maximize the available FBA reimbursements. The FBA inventory of sellers can experience a myriad of discrepancies such as getting lost, damaged, destroyed, disappear and overcharged with FBA fees in Amazon’s warehouses. GETIDA is able to constantly track and discover the FBA discrepancies. Once a discrepancy is found, a GETIDA case manager opens a case on behalf of the seller and manages all the back and forth processes until the claim gets approved for an FBA reimbursement.
Most Amazon sellers are not even aware that they are eligible to receive FBA reimbursements and how much money they can potentially get back. There are savvy Amazon sellers that are already aware of the issue, and already have a set up to claim FBA reimbursements, but are not aware that there are even more FBA reimbursements available for them. Much more! This is where GETIDA gets an opportunity to help such sellers recover more.
Since GETIDA only gets paid a recovery fee for any new FBA reimbursements it secures, it is extremely delightful for the sellers to get access to more funds that were simply not available beforehand, and only pay a fee to GETIDA once it successfully gets done. No upfront payment needed, no subscription, and not commitments required.
Don’t Amazon automatically process FBA Reimbursements?
Amazon automatically reimburses Amazon FBA sellers for some of the FBA discrepancies that their system finds. They require 30 days to do so, after 30 days, it is the responsibility of the Amazon seller to audit Amazon and open cases for all remaining discrepancies. Eligibility for getting an FBA reimbursement eventually expires. This is when GETIDA comes in as a reliable solution for constant auditing and servicing of the account so no discrepancy is left unclaimed.
GETIDA can look back up to 18 months for most types of FBA discrepancies in order to get a reimbursement. A major discrepancy that is limited to only 6 months to file a case in the UK (9 months are available in the US), is an FBA inbound shipment discrepancy, in which the FBA center initially receives an FBA shipment from the seller and there are missing units.
A financial discrepancy that is limited to 90 days is FBA overcharges of pick and pack fees. Amazon’s data can sometimes be incorrect and the weight and dimensions of an ASIN might be more than it actually is. Therefore, the pick and pack fees will be more than it needs to be. GETIDA can assist in getting an FBA reimbursement for such overcharged fees as well.
When GETIDA first audits a seller, it can take up to 90 days to go back the audit of the past 18 months and file cases for all the FBA discrepancies that were left unclaimed. After the past 18 months are all cleaned up, then GETIDA makes sure to have the account audited and maintained on a monthly basis.
How much could I expect to get in FBA reimbursements?
GETIDA’s statistical data suggests that the Amazon FBA discrepancy rate can range from 1% to 3% of the annual FBA revenue of a seller. So if an Amazon seller generates £1 Million in annual FBA sales, the discrepancy range can be between £10,000 – £30,000. It is GETIDA’s mission to help the seller get the maximum amount that the seller is eligible for.
Every penny of recovered funds can greatly help an Amazon seller by reinvesting the influx of new funds to launching a new product, investing more in PPC and much more.
An Amazon FBA seller in a single year, generated around £13.4 Million in annual FBA revenue. There were about 300,000 units sold during that year, of which, approximately 9,000 units were affected with FBA discrepancies. The affected 9,000 units represented a discrepancy rate of 2.81%. GETIDA helped in recovering 1.5% of the available FBA reimbursements which equaled £112,000.
The recovered amount of £112,000 increased the profit margin of the seller by about 11%. Since the cost structure of the Amazon seller stayed the same, all the additional funds from the FBA reimbursements eventually streamed right into the profit lines of the seller and significantly impacted the profit margin in a positive way.
The added profit is also very helpful for example for an Amazon seller who is interested in selling the business. A potential buyer may pay a multiple of 3 times or more for the profits of the seller and so will also pay 3 times or more for every additional pound that is generated in FBA reimbursements. To illustrate this, the amount of £112,000 in this case, multiplied by 3 will add another £336,000 the business sale price when selling the Amazon account as an exit strategy. That is a great bonus for a hard working Amazon seller by any means.
What are GETIDA’s fees?
It is free for Amazon sellers to join GETIDA, there is no contract and the service can be cancelled at any time. GETIDA is based on a win-win model where there is only a fee charged on the FBA reimbursements that GETIDA generates. The recovery fee is 25%, so for example if GETIDA opened a case that got an FBA reimbursement of £100, the 25% recovery fee will be £25.
GETIDA is fully customizable which means that even if a seller already manages FBA reimbursements with an in-house team, or uses another solution provider, GETIDA can fit it and recover even more reimbursements on top of that. It makes a great addition because GETIDA only gets paid if they secure more FBA reimbursements. Therefore, all the additional reimbursements are pure profit for the Amazon seller.
Amazon sellers get the funds from the FBA reimbursements that GETIDA generates within a day or so directly into their seller central accounts. GETIDA in turn, only charges the 25% recovery fee once a month after the funds from the FBA reimbursements are well rested with the sellers.
What makes GETIDA better than competitor services?
What ultimately makes GETIDA stand out is its proven track record of getting the maximum FBA reimbursements for Amazon sellers. This in turns helps the seller keep more in their pockets compared to any other solutions. What sellers ultimately need is to get a reliable solution that will help them to keep more money in their pockets.
Other providers do offer really good solutions for Amazon sellers. But most of the solutions are partial fixes and might require an upfront payment or commitment. GETIDA is not a tool, nor a partial solution. It is rather a full scale solution that if needed, can be customized to any seller, of any size, and at any configuration, in order to ensure that the maximum FBA reimbursements are always being secured.
Thus, if you have never audited your FBA transactions, GETIDA can fully manage your FBA reimbursements, and if you are a seller that already has an in-house team that files for FBA reimbursements and you like the team, you can keep them. GETIDA can work alongside the existing team and act as a backup in case the team misses out on any opportunities. Sort of an insurance policy to make sure you always get the maximum you are eligible to get and let nothing go to waste. And only pay a fee for successful reimbursement that were effectively secured with no further commitments.
In addition, GETIDA is an authorised service provider on the Amazon Seller Central AppStore. It is recommended to use authorised service providers for your Amazon account as the authorized service provider has to keep a high-standards of Amazon’s terms of service and data protection policies.
GETIDA is a gold winner of the American Business Awards (ABA) for its dashboard technology. It is the only company of its kind to win such an award.
A large portion of GETIDA’s staff are ex-Amazon employees who worked in the FBA reimbursements department. Therefore, the team is highly trained and capable of managing all the back and forth of the claims and securing the highest levels of recoveries.
GETIDA is a global leader in FBA auditing and reimbursement simply for the fact that it can service globally based Amazon Seller Central accounts such as Amazon US, UK, DE, IT, ES, FR, CA and MX. So if you are a global Amazon FBA seller, GETIDA can provide full coverage for your global FBA reimbursement needs.
How do I get started?
Getting started with GETIDA is free and easy. You can simply visit our website GETIDA and click on the Signup button to begin the onboarding process. Within a few short minutes you will get access to the GETIDA dashboard, and get free FBA data regarding your Amazon account. Once GETIDA begins filing cases to get you money back, you will be able to track and monitor the process of the FBA reimbursements that are being generated on your account and look at historical data.
Get £400 in GETIDA offer for Tamebay Readers
We have prepared a £400 offer for TameBay readers. Use promo code: TB400 during signup, and the first £400 in FBA reimbursements will be free. This way you will be able to try out GETIDA. If you have a good experience you are welcomed to keep the service active.
And if you wish to leave after getting your free £400, that is ok as well. GETIDA is here to empower and help Amazon sellers as much as possible in a very open and flexible manner.
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