World-class in high-tech: Digital River enhances global e-commerce platform
E-commerce platform provider Digital River now offers what it considers to be the first in comprehensive, automated regulatory fee management tools that enable consumer electronics (CE) manufacturers selling products online in Europe and North America to administer, collect, and remit fees in compliance with complicated copyright, electronic equipment end-of-life recycling (WEEE) and battery recycling regulations.
Companies failing to meet these regulations, which vary by country, can be subject to fines and prosecution, and prohibited from selling online.
“With this new regulatory tool, we are breaking down barriers for consumer electronics companies entering online channels. We are helping them manage financial risk and operational complexity to speed time-to-market,” says Digital River CEO Joel Ronning. “In fact, some of our clients have said they would not be selling online in Europe without this tool and Digital River’s expertise in this area. Based on the early positive feedback we have received from our clients, we believe this tool has the potential to set a new standard for world-class e-commerce services in the high-tech market.”
The fee management tool is an integrated part Digital River’s command console, a self-service, Web-based remote control tool set for managing the daily operations of a Digital River e-commerce solution. These capabilities and components are offered:
• A central database with the regulatory fees and their product- or country-specific mandates;
• An administration tool for easily attaching fees to products and displaying them on required Web pages in the appropriate markets;
• Integration with accounting and tax systems to streamline fee accounting and reconciliation;
• Tracking capabilities for sales and collected fees by local compliance scheme to help merchants manage the complex requirements related to reporting and fee remittance.
“There is heightened market awareness and increasing risk today in dealing with the recycling and environmental regulations that surround the online sale of electronics products,” says Ronning. “By drawing upon our global e-commerce expertise, we can help consumer electronics manufacturers meet the green standards for their industry.”