Addressing Challenges in Quote Management for Risk Mitigation

addressing-challenges-in-quote-management-for-risk-mitigation
Discover the importance of quote management in business success. Learn the creation, handling, and tracking of quotes, facing common challenges, and embracing innovations in quote management.
 

Contents

1. Understanding Quote Management
2. Probable Challenges in Quote Management
3. The Next Frontier in Quote Management

1. Understanding Quote Management

Quote management is a nuanced and systematic process that involves the creation, handling, and tracking of quotes or estimates offered to clients. In business, especially within sectors like sales, services, and manufacturing, quote management and estimate management is a critical aspect that bridges customer interest and actual sales.

Quote management, also known as quotation management, is a strategic function that governs the development and issuance of quotes to customers. This process includes compiling service or product costs, terms and conditions, and detailed descriptions informing potential buyers about what they're purchasing and at what price.

Indeed, it encompasses understanding market trends, customer behaviour, cost optimization, and risk management.

Quote management entails a deliberate approach to fostering client relationships. The quotes' promptness, accuracy, and quality reflect a company's professionalism and willingness to meet customer needs. Sales teams, guided by quote management principles, tend to structure quotes that reflect a deep understanding of customer requirements, leading to increased chances of conversion. They also incorporate upselling and cross-selling techniques into the quote whenever appropriate. Below is the guide to quotation management for businesses, both budding and established businesses to solve the cost estimation problems through strategic solutions.

2. Addressing Probable Challenges in Quote Management


2.1. Inaccurate Data Entry

Maintaining data integrity is paramount, but human error can lead to inaccuracies that affect the efficiency and reliability of processes such as generating accurate quotes. Typically, manual data entry practices contribute to these errors because they rely heavily on human attention to detail, which can waver due to fatigue, high workloads, or simply inadvertence.

Quotation management and implementing techniques like using automated data capture tools and deploying robust validation checks can solve this. Here is how the solution unfolds:

Leverage Automated Data Capture Tools
  • OCR Technology: Utilize optical character recognition (OCR) technology to convert different types of documents, such as scanned paper documents or images, into editable and searchable data.
  • Barcode Scanners: Implement barcode scanning for quick data entry of product information, reducing manual input.
  • Electronic Forms: Use e-forms with predefined formats to ensure that all necessary data fields are captured accurately.
  • Voice-to-Text Solutions: Employ voice recognition software for hands-free data entry, particularly useful in logistically challenging environments.
Offer validation checks like cross-database validation data entries against other databases to validate accuracy and highlight inconsistencies.

Support business objectives with data management rather than undermining them with inaccuracies.
 

2.2. Complex Pricing Structures

Tired of grappling with the intricacies of product's complex pricing? Calculating accurate quotes should not be a puzzle, nor should it drain the valuable time and resources.

Differentiation in customer segments, purchase volumes, geographical areas, and promotional offers can create a tangled web of pricing combinations.

Features That Make a Difference
  • Rule-Based Calculations: Set complex rules based on any combination of factors—product combinations, market conditions, and customer categories. The software does the arithmetic instantaneously.
  • Real-Time Updates: Market changes? No problem, update rules or promotions globally in real-time, reflecting immediately in every quote.
  • Detailed Analytics: Gain insights into how different pricing strategies perform, identify patterns, and make data-driven decisions to optimize profits.
  • Error Reduction: Eliminate undercharging or overcharging, and safeguard businesses from costly pricing errors.
  • Faster Quote Turnaround: Rapid, accurate calculations significantly reduce the time from quote to cash.
Adapt, compete, and win with pricing software that's as dynamic as the market itself.
 

2.3. Customization Demands

Today, personalization is the name of the game. Customers yearn for products or services catering to their needs and preferences. This growing demand for customization does present a challenge for businesses aiming to maintain standardization while still satisfying their clients' unique requirements. An effective strategy to address these obstacles in quotation management is the development of a flexible quote management system.

Customization can often lead to complex pricing models, longer sales cycles, and a greater potential for errors in quoting. A dynamic quote management system, or an estimation management system can streamline this process and ensure accurate pricing, irrespective of product or service personalization level. It must include:

  • Dynamic Pricing Engine
Allows for real-time pricing calculations based on the custom specifications requested by the client.
Can accommodate discounts, promotions, and other variables that might affect pricing.

  • Product Configuration Tools
Provides a user-friendly interface for customizing the product or service features.
Automatically update the quote with any changes made to the configuration.

  • Approval Workflows
Establishes a clear approval process for custom quotes that may fall outside standard pricing guidelines.
Ensures quotes are reviewed by the necessary personnel for pricing integrity.

  • Integrations with CRM and ERP Systems
Ensures all customer data is up-to-date and relevant discounts or terms are applied.
Facilitates a seamless flow of information across different business systems.

  • Audit Trails
Keeps a record of all changes made to a quote for transparency and accountability.
Facilitates compliance and enables businesses to review past quotes for improvements.
The software segment held the largest share of the global risk management market by component in 2022, and this trend is anticipated to continue in the coming years. Given that the demand for a greater level of customization is a significant factor driving companies to increase their investment in the gamble executives market.

Customization is not only desired but expected by clients!
 

2.4. Long Turnaround Times

Businesses cannot afford to have prolonged turnaround times when generating quotes for their clients. The time it takes from customer inquiry to quote delivery is critical, and efficiency here could be the deciding factor in winning or losing a deal.
 
Configure Price and Quote (CPQ) Software Market Size is projected to reach multimillion USD by 2031, In comparison to 2024, at unexpected CAGR during the forecast period 2024-2031.

To address this issue, companies should opt for implementing CPQ (Configure, Price, Quote) software to streamline and expedite the quote generation process. The benefits it provides are:
  • Accelerated Quote Generation: CPQ software dramatically reduces the time it takes to generate quotes, often from days to hours or even minutes, ensuring prompt customer responses.
  • Error Reduction: By automating configurations and pricing, CPQ software minimizes errors with manual quote processes, ensuring quotes are accurate and professional.
  • Dynamic Pricing Structures: CPQ allows for easy customization of quotes, considering various customer needs including volume discounts, customizations, and promotions, automatically applying the best pricing rules and discounts based on customer engagement.
  • Scalability: Whether dealing with a handful of complex quotes or thousands of simpler ones, CPQ software scales to the business volume without compromising speed or quality.
  • Integration: CPQ solutions can integrate with other enterprise systems, such as CRM and ERP, providing a seamless flow of information across the business.
  • Workflow Optimization: Approval processes can often slow down quote generation, but with CPQ software, workflows can be customized and automated for each unique product or customer.
Invest in CPQ software to keep pace with the demands of modern commerce.
 

2.5. Integration with Other Systems

To address the challenge integration, it's crucial to choose quote management software that is designed for compatibility and seamless integration with businesses' current systems. Features to look for in quote management software integration include:
  • API Accessibility to ensure the quote management software provides robust application programming interfaces (APIs) that facilitate easy data exchange between systems.
  • Pre-built Connectors to drastically reduce the time and effort required for integration.
  • Customizable Workflow to adapt to businesses' existing workflows and help maintain consistency across different systems.
  • Real-time Data Sync to ensure that any change in the quote management system is automatically updated across all integrated platforms.
  • Data Mapping and Migration Tools for a smooth transition of data from existing systems to the new quotation management software.
  • Security Protocols, since they involve data transfer, require high-level security features that are non-negotiable to protect sensitive information.
  • Support and Training for comprehensive support to troubleshoot quote management issues like integration issues.
  • Flexible Customization to meet specific business needs without compromising the integration with other systems.
Be well on the way to harnessing the full potential of the business technology stack.
 

2.6. Globalization Challenges

Businesses often face the intricate task of dealing with multiple currencies and languages. This complicates various aspects of operations, particularly in managing quotes and financial transactions. Issues may arise from currency conversion rates, which fluctuate and can impact profitability, to language barriers that impede clear communication and documentation consistency.

To effectively overcome these globalization hurdles, companies should implement software solutions equipped with multi-currency and multi-language capabilities, providing:
  • Real-Time Currency Conversion
  • Currency Display Customization
  • Multi-Currency Reporting
  • Localized Interfaces
  • Translation Tools
  • Language-Specific Documentation
 

2.7. Lack of Visibility

Sales teams often face the challenge of having insufficient visibility into the status of quotes and approvals, causing delays and inefficiencies in presenting propositions to clients. Without a clear view of where each quote stands in the process, sales reps might struggle to provide timely updates to clients, potentially harming the customer experience and impacting the closing of deals.

To combat this, the implementation of comprehensive dashboards and tracking features is essential. These tools provide sales teams with:
  • Real-time visibility into every stage of the quoting process, allowing for more effective management and communication.
  • They also offer instant overview and data-driven decisions.
  • By equipping sales teams with these enhanced visibility tools, companies can expect to see improved coordination, faster response times, and, ultimately, a more streamlined path from quote to sale.
  • The increased transparency will empower sales teams and contribute to a more positive and trustworthy relationship with their clients.
In an interview with Machintel Media (previously Media7), Olivia (Ross) Taylor, Director of CRO rightfully said that, “One thing to consider is backing up your clients with data. If you are offering some sort of platform that will save me time on the implementation of a process, then tell me how much time I’m going to save. If you say, ‘Cut down your execution time by 90% with our platform’, that’s a unique value proposition.”
 

2.8. Maintaining Profit Margins

Maintaining profitable margins while offering competitive pricing is one of the common B2B quoting challenges faced by businesses across various industries. Achieving this balance requires strategic planning, thorough market understanding, and diligent cost control. By understanding the impact of different pricing strategies on margins, businesses can make informed decisions to optimize their financial outcomes, through the following steps:
  • Collect Data
Gather detailed historical sales data, production costs, marketing expenses, and any other relevant financial information. This data provides the foundation for margin analysis.
  • Analyze Cost Structure
Break down costs into fixed and variable categories. Understand how each cost contributes to the overall price of the product or service, and identify opportunities for reduction or efficiencies.
  • Monitor Competitor Pricing
Maintain a current understanding of competitor pricing strategies through market research. This information is vital in setting prices that are attractive to customers yet sustainable for the business.
  • Pricing Strategy Development
Use analytics to simulate how different pricing models affect margins of businesses. Consider implementing pricing strategies such as value-based pricing, tiered pricing, or dynamic pricing where appropriate.
  • Implement Reporting Tools
Deploy reporting tools that provide real-time visibility into sales performance and margin health. Dashboards should be user-friendly and present key metrics succinctly.

90% of pricing and demand forecasting still depends on spreadsheets, excel and gut-feeling decisions. This comes with challenges as these methods are not flawless and could potentially hurt pricing strategy, resulting in leaving money on the table.
 

2.9. Identifying Risks

Identifying probable risks in any project or operation is crucial for preventive planning and managing unforeseen sales quoting challenges. To counter this, regular and thorough risk assessments are essential, coupled with horizon scanning to stay ahead of the common quoting process issues.

Risk assessment is a critical process in project management that involves the identification, analysis, and mitigation of risks that could potentially affect a project's objectives. Conducting regular risk assessments allows project managers and their teams to:
  • Prepare for and reduce the impact of risks
  • Allocate resources more efficiently
  • Increase likelihood of successful project completion
  • Build confidence among stakeholders
  • Strategies for identifying hidden risks
  • Conduct regular risk assessment sessions
  • Engage in horizon scanning
  • Utilize risk assessment tools and frameworks
  • Involve a diverse team in the risk assessment process
  • Encourage open communication and reporting
  • Consider historical data and lessons learned
  • Carry out 'what-if' scenarios
 
The global risk management market size is projected to reach Multimillion USD by 2028, in comparison to 2021, at an unexpected CAGR during 2022-28.
 

2.10. Resource Allocation

Effective risk mitigation is a critical component of managing any project or operation. However, organizations often need more resources, which can impede their ability to implement strategies to address potential risks. This underscores the importance of allocating a portion of the budget toward purchasing or subscribing to a comprehensive quote management system. It is necessary for automating repetitive tasks, reducing human error, and speeding up the quoting process.

Factors to be considered include:

Financial Resources
  • Ensure QMS integrates seamlessly with customer relationship management (CRM) system for streamlined operations.
  • Consider cloud-based platforms for real-time quote updates and accessibility from anywhere, enhancing collaboration among sales teams.

Human Resources
  • Conduct workshops that highlight best practices for creating and managing quotes.
  • Develop certification programs for teams to become experts in using the quoting tools at their disposal.
Optimal selection for resources and their management is required to provide:

Improve Data Analytics
  • Regularly track and analyse conversion rates, average sales cycles, and quote-to-close ratios.
  • Use predictive analytics to forecast future quoting trends and prepare the inventory and resources accordingly.

Optimize Human Capital
  • Create specialized roles for quote analysis, negotiation, revision to quotation process streamlining and improving response times.
  • Establish cross-functional teams that work together to address complex quoting scenarios for large deals or strategic accounts.

Marketing-Sales Alignment
  • Marketing campaigns should be aligned with sales goals to generate qualified leads that require quotes.
  • Marketing should develop customizable templates and content that sales teams can easily incorporate into their quotes.

3. The Next Frontier in Quote Management

The efficiency of quote management processes can distinguish between winning and losing valuable opportunities. Quote management is crucial for businesses that rely on accurate and timely quotes to close deals. However, many challenges can complicate the B2B sales quoting process, impacting a company's profitability and customer satisfaction. Innovations in quote management include intelligent solutions and data analytics that can predict and shape complex pricing strategies while minimizing errors. Advanced software facilitates global scalability while maintaining compliance with varying tax laws. To improve visibility and control, quote management systems now offer real-time dashboards and reporting tools that provide insights into performance, margins, and quote status.

Optimizing resource allocation is made simpler through predictive analytics and workflow automation, ensuring that the right people and tools are dedicated to each step of the process. As businesses continue to evolve, so must quote management systems. By adopting advanced solutions for quotation management and quoting processes’ best practices, companies can pave the way for more profitable, efficient, and customer-centric operations. The future of quote management is about agility, precision, and integration, attributes that must be embraced to stay competitive in the modern marketplace.

Spotlight

Add3

Add3 is a digital agency that delivers integrated digital marketing campaigns across paid search, SEO, social & display advertising, helping our clients reach their marketing goals. Our mission is to take an integrated, performance-driven approach to connect brands with their customers across digital channels to reach their marketing goals. We exist to create a place where the best people in digital marketing want to work and that brands want to work with. We are high-speed, low-drag, digital marketing geeks that live for results. Add3 is located in Seattle, WA. We serve a broad range of clients throughout the U.S., ranging from Global 500 organizations to earlier-stage technology companies.

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Next-gen Sales: Power of Advanced Quote Management Providers

Article | February 22, 2024

Optimizing the sales funnel with advanced quote management systems enhances pricing accuracy and customer satisfaction. Learn about the top QMS software providers that promise high profit and sales. Contents 1. Introduction to QMS 2. Quote-to-Cash: Optimizing the Sales Funnel 2.1. Mapping the Customer Journey 2.2. Streamlining the Quote-to-Cash Process 2.3. Measuring and Managing Sales Performance 3. How Advanced Tools and Technologies Shape Quote Management 4. Best Quote Management Software Providers 4.1. Zilliant 4.2. Tacton 4.3. Paddle 4.4. Peak 4.5. Impact Analytics 4.6. Upstream 4.7. Proposify 4.8. Loopio 4.9. Simpleview 4.10. Configura 5. Final Thoughts 1. Introduction to QMS Quote management systems (QMS) are integral to optimizing the quote-to-cash (Q2C) process within the sales funnel. The incorporation of advanced intelligent technologies such as artificial intelligence, machine learning, predictive analytics, and data visualization, contemporary QMS enhance the efficiency and accuracy of quote generation for a streamlined user experience. These systems allow for precise pricing strategies tailored to real-time market conditions and customer-specific variables, thereby improving customer satisfaction. Consequently, businesses can adapt swiftly to market dynamics and customer needs, maximizing revenue and operational efficiency. The system further streamlines workflows by automating routine tasks, reducing manual errors, and accelerating the quote management process. Quote-to-Cash: Optimizing the Sales Funnel The sales funnel optimization is crucial for maximizing revenue and enhancing customer satisfaction. A key component of this optimization is the quote-to-cash (Q2C) process, which encompasses the end-to-end activities, from quoting a product or service to realizing revenue. Advanced tools and technologies have significantly transformed quote management, facilitating precise, efficient operations for businesses. Leveraging intelligence technologies like AI, ML, predictive analytics, and data analytics for data visualization, modern quote management systems can analyze historical data and customer behavior to generate highly accurate and personalized quotes. This capability accelerates the quoting process and enhances the accuracy of pricing strategies, ensuring that quotes reflect real-time market conditions and customer-specific factors. Additionally, these technologies enable dynamic pricing models, allowing businesses to adjust prices based on demand fluctuations, competitor pricing, and other relevant variables, thereby augmenting revenue. Furthermore, the integration of cloud-based platforms and advanced analytics has revolutionized the accessibility and scalability of quote management for professionals. Cloud technology ensures that the quote data is centralized, secure, and easily accessible from any location, supporting remote work environments and improving collaboration across different departments. Similarly, advanced analytics tools provide deep insights into quote performance, customer preferences, and sales acceleration trends, empowering businesses to make data-driven decisions. These insights can lead to more strategic pricing, improved customer satisfaction, and enhanced performance in the market. 1.1 Mapping the Customer Journey The first step in optimizing the quote-to-cash process within the sales funnel is mapping the customer journey. This involves understanding every touchpoint where customers interact with the business, from initial interest to final purchase and beyond. Mapping these touchpoints allows companies to identify critical moments where targeted interventions can increase conversion rates and enhance customer satisfaction. Effective customer journey mapping within the Q2C process includes: Capturing interest through marketing efforts and initial inquiries Tailoring quotes based on customer needs and specifications Refining quotes and terms to meet customer expectations and company capabilities Final agreement on the quote and terms Fulfilling the order as agreed Ensuring accurate and timely billing and collection 1.2 Streamlining the Quote-to-Cash Process Streamlining the Q2C process requires the integration of technology, strategic processes, and organizational alignment. Automation plays a pivotal role here, reducing manual errors and increasing efficiency. For instance, CPQ software can automate the quote generation process, ensuring that sales teams produce accurate and optimized quotes quickly. Other aspects of streamlining include: Using customer relationship management systems to maintain detailed records of customer interactions, preferences, and history and supporting personalized and consistent communication Speeding up contract signings and approvals with digital tools, reducing the time from quote approval to cash collection Connecting the Q2C process with enterprise resource planning systems to ensure seamless data flow and improve visibility across finance, sales, and operations 1.3 Measuring and Managing Sales Performance Optimizing the sales funnel also involves continuous measurement and management of sales performance. In this regard, the key performance indicators (KPIs) for the Q2C process might include: Quote Conversion Rate: The percentage of quotes that successfully convert into sales Customer Acquisition Cost: The cost related to the acquisition of a new customer through the sales funnel Customer Satisfaction and Retention Rates: Measures of how satisfied customers are with the purchasing process and their likelihood to return 2. How Advanced Tools and Technologies Shape Quote Management Incorporating advanced quote management software has made generating and managing quotes easier. The next-gen solutions, such as AI-driven algorithms and machine learning models, facilitate the analysis of extensive datasets, enabling businesses to generate highly customized and competitive quotes in real time. These technologies further allow for the automation of complex pricing strategies, considering many factors such as market trends, competitor pricing, customer purchasing history, and real-time demand fluctuations. By leveraging predictive analytics, businesses can anticipate customer needs more accurately, improving the conversion rates and ensuring optimized profitability. 3. Best Quote Management Software Providers Some of the top quote management software companies that help businesses optimize their sales funnel include: 3.1 Zilliant Zilliant is a prominent leader in cloud-native pricing, CPQ, and revenue optimization software, focused on transforming business pricing processes. With decades of experience addressing complex B2B pricing and sales challenges, the company leverages advanced AI and data science to enhance price management and optimization, revenue intelligence, and e-Commerce. Zilliant is renowned for its high ROI solutions, demonstrated through powerful customer endorsements from various industry leaders. Looking to the future, Zilliant continues to drive innovation in pricing science and customer engagement strategies, providing a comprehensive suite of services to optimize pricing and sales efficiency for manufacturing and distribution sectors. Its commitment to partnership and customer success is evident in its collaborative approach and continuous support in adoption strategies. 3.2 Tacton Tacton is a leading SaaS provider specializing in CPQ solutions specifically designed for industrial manufacturers. With over 25 years of manufacturing expertise, Tacton's state-of-the-art configuration engine rapidly streamlines complex product configurations into accurate quotes, enhancing operational efficiency and increasing sales volume. Recognized as a leader in the CPQ space by Gartner and G2, Tacton supports easy integration with existing digital landscapes, including PLM, CAD, PIM, and ERP systems. The platform simplifies the selling process through guided selling and needs-based configuration. It further provides powerful visualization and augmented reality features that allow customers to see real-time configurations. 3.3 Paddle Paddle is a comprehensive SaaS-based payment infrastructure provider that specializes in streamlining billing operations for software businesses. As a merchant of record, Paddle manages to complete the payment stack and take on the responsibilities of relationship maintenance with payment providers, global sales tax handling, and revenue reconciliation across different billing and payment methods. Its suite of products includes Billing, which offers an all-in-one solution for digital product payments and subscription management; ProfitWell Metrics for precise, free revenue reporting; Price Intelligently for a data-driven pricing strategy; and Retain, which automatically recovers failed payments to enhance customer retention. 3.4 Peak Peak is an advanced AI platform provider designed to significantly enhance business growth, profitability, and operational efficiency by optimizing essential functions such as inventory management and product pricing. Tailored for businesses of all sizes, from million to billion-dollar enterprises, Peak ensures optimal stock levels and competitive pricing, backed by an AI performance guarantee that consistently meets service levels. Recent innovations include the launch of Co:Driver, a generative AI product and the introduction of a performance guarantee that bolsters business confidence in AI adoption. Peak's comprehensive support structure and its ability to interconnect decisions across business functions further empower companies to harness AI effectively, inducing substantial improvements in decision-making and business performance. 3.5 Impact Analytics Impact Analytics is a pioneering provider of AI-powered SaaS solutions designed to optimize decision-making across the retail, grocery, CPG, and supply chain sectors. The company transforms vast amounts of data into actionable insights with its advanced AI platform, significantly enhancing various aspects of business operations such as demand planning, supply chain management, merchandising, and pricing & promotions. The platform includes specialized solutions like PriceSmart for unified life cycle pricing, TradeSmart for trade promotion planning, and AuditSmart, an advanced RPA bot for high-quality audits. Trusted by leading global retailers, Impact Analytics has demonstrated substantial business impacts, including an 8% lift in gross margins, 99% product availability on shelves, and significant reductions in work hours, clearance inventory, and wastage, culminating in annual savings of $1 billion for its clients. The company prides itself on its configurable solutions, resolute commitment to innovation, and ability to deliver tangible results within weeks, serving as a leader in retail AI solutions. 3.6 Upstream Upstream is a leading global provider of mobile marketing automation solutions, specializing in driving digital growth with innovative customer acquisition through attractive quotes and engagement strategies across all mobile channels. The company boasts a substantial global reach with a consumer reach of over 1.2 billion and 3.1 billion monthly interactions, supported by a robust network of 370+ advertisers and the execution of 4000 ad experiences. Upstream's Grow platform, recognized for its robust lead optimization and interaction capabilities, leverages proprietary predictive technology and expert marketing strategies to deliver unparalleled results, including a 12x ROI for e-commerce platforms. Dedicated to enhancing mobile operator efficiencies and increasing e-commerce sales, Upstream employs cutting-edge MarTech tools for event-driven campaigns, identity resolution, and ad fraud security to ensure high performance and minimal errors. 3.7 Proposify Proposify is a leading proposal software provider designed to streamline and enhance the sales document process for B2B services globally. Proposify addresses common issues associated with traditional document creation tools like Word and PowerPoint, such as high error rates, lack of brand consistency, and poor visibility into proposal engagement. The software provider simplifies the creation of proposals through a centralized content library that includes templates, snippets, and a design editor, enabling sales teams to quickly produce error-free, professional-looking documents. Proposify also offers advanced features such as interactive pricing, e-signatures, and a metrics dashboard that provides detailed insights into proposal views and engagement, helping businesses close deals more effectively. Its integration capabilities with CRMs and other tools ensure that sales processes are seamlessly connected and efficient. With a strong focus on customer success, Proposify offers personalized onboarding services to help businesses optimize their proposal workflows and achieve significant time savings. 3.8 Loopio Loopio is a leading RFP response management software company that transforms the response process for RFPs, RFIs, DDQs, and security questionnaires by enhancing collaboration, streamlining operations, and ultimately helping businesses secure more deals. Recognized for its user-friendly interface and robust functionality, Loopio garnered multiple G2 awards in 2024, including Best Results and Easiest to Use in the Enterprise category. Loopio’s integration with platforms enhance workflow efficiency, making vital information accessible within existing CRM systems. This integration, along with expert-vetted content and automatic updates, ensures that responses are quick, accurate, and compliant with current standards and practices. Its AI-driven content library centralizes knowledge, enabling fast, accurate responses and significantly reducing response times, which has led to measurable increase in efficiency and win rates among users. 3.9 Simpleview Simpleview is a prominent provider of digital marketing and site management solutions for quote management and is tailored for destination marketing organizations (DMOs). With products like Simpleview CMS and CRM, the company offers a fully integrated platform that enhances the online presence and operational efficiency of tourism entities from small towns to large countries. Simpleview's services include website design, branding, SEO, and paid media strategies, all created to attract visitors and win bids for events and conventions. Additionally, the company's Online Booking & Referral Engine and Email Marketing & Automation tools help DMOs increase engagement and revenue through direct bookings and effective communication. Simpleview also incorporates user-generated content and advanced data analytics to foster community engagement and provide actionable insights. 3.10 Configura Configura is a leading provider of innovative space planning and product configuration software, serving commercial interiors, material handling, and kitchen and bath industries. The company’s flagship software, CET, offers an all-in-one solution for accurate space planning and configuration and isrecognized for its impact on streamlining operations and boosting profitability. This recognition is underscored by Configura's recent accolade, the Best IT Innovation Award at MODEX 2024. Additionally, Configura fosters a collaborative environment with its Partner Portal, encouraging innovation and success through strategic partnerships. The company also emphasizes education and support through its academy, offering training and webinars to enhance user proficiency with CET. With a global presence and a commitment to innovation, Configura continuously updates its offerings, as demonstrated by recent expansions in its commercial interior product suite. 4. Final Thoughts Advanced quote management systems are crucial for businesses seeking to optimize their sales funnel and enhance customer satisfaction. As technology evolves, companies must adopt these tools to stay competitive and drive strategic decision-making. Significantly, the future of QMS lies in the continuous advancement of intelligence systems and NLP, along with predictive analytics and data visualization, providing deeper insights into customer behavior and market trends. The incorporation of blockchain technology will further continue to enhance data security and transparency. Likewise, companies must increasingly leverage IoT and real-time data analytics to enable more dynamic and responsive quote management, further optimizing revenue and operational efficiency.

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Top CRM Tools for Customer Engagement and Maximizing ROI

Article | February 14, 2024

Read this article for an in-depth analysis of top CRM tools that empower businesses to enhance customer engagement, boost ROI, better understand customer needs, and drive significant growth. Contents 1. Introduction 2. Understanding Customer Engagement 2.1 Key Perspectives on Metrics to Improve ROI through CRM 2.2 Role of Engagement in Customer Retention: An Expert Analysis 3. Top CRM Tools for Managing Customer Engagement 3.1 Pipedrive 3.2 ClickUp 3.3 Copper 3.4 Nutshell 3.5 Nimble CRM 3.6 Close 3.7 Insightly CRM 3.8 Sugar Sell 3.9 Workbooks CRM 3.10 Maximizer 4. Final Thoughts 1. Introduction In the growing digital age of intelligence and innovation, leveraging customer relationship management (CRM) tools has become indispensable for businesses aiming to enhance customer engagement and maximize return on investment. These top tools in CRM help streamline interactions and provide invaluable insights into customer behavior, preferences, and needs. This article explores the top CRM tools that can help businesses implement CRM to forge stronger customer relationships, enhance their marketing strategies, and foster companies to drive growth and innovation. 2. Understanding Customer Engagement Customer engagement transcends basic interactions between a company and its customers. It encompasses the emotional, psychological, and behavioral responses that customers exhibit toward a brand over time. This complex construct is significant as it connotes a proactive relationship where customers choose to interact with the brand beyond contractual obligations. 2.1. Key Perspectives on Metrics to Improve ROI through CRM Advanced metrics to measure customer engagement go beyond traditional indicators to provide deeper insights into customer behaviors and preferences. These metrics include: Customer Lifetime Value: An estimation of the total value a customer is expected to generate during their relationship with a brand. This CLV metric helps businesses understand how much they should invest in maintaining or expanding relationships with individual customers. Social Listening: The process of monitoring digital conversations to understand what customers are saying about a brand online. This metric is crucial for gauging sentiment and engagement in real-time, allowing companies to quickly respond to customer needs or market shifts. Heatmaps: Visual tools that show how users interact with a website, including what they click on, how far they scroll, and what areas they spend the most time viewing. Heatmaps are essential for understanding engagement at a granular level, enabling optimizations that enhance user experience and retention. Event-Triggered Analytics: This involves tracking and analyzing actions taken by users in response to specific events or campaigns. It helps in understanding how particular activities influence engagement and can guide more personalized customer interactions. Customer Health Score: A metric that combines various indicators of customer retention, engagement and satisfaction, such as product usage frequency, support ticket incidents, and feedback scores, to predict future engagement levels and potential churn. 2.2. Role of Engagement in Customer Retention: An Expert Analysis Deeply engaged customers represent a significant asset to any company. Their ongoing interactions with a brand reinforce and deepen their loyalty, making them less likely to switch to competitors. From a business perspective, enhancing customer engagement leads to various strategic benefits: By analyzing engagement patterns, companies can predict future buying behaviors and preferences, allowing for better inventory management, personalized marketing, and more accurate sales forecasts. Highly engaged customers often become brand advocates. They share positive experiences and recommendations with peers, effectively acting as a powerful marketing channel. This word-of-mouth marketing can significantly reduce acquisition costs and increase market penetration. Engaged customers typically require less support and are more familiar with the brand's processes and products. This familiarity reduces the cost and effort needed for customer service and leads to smoother transactions and interactions. Engaged customers provide continuous feedback, whether through formal surveys or informal comments across communication channels. This feedback is invaluable for continuous product and service improvement. 3. Top CRM Tools for Managing Customer Engagement CRM plays a crucial role in almost all businesses and ventures. A strong hold on CRM entails a good sales and marketing strategy. Below are some of the top CRM providers to choose from according to varying needs of businesses. 3.1 Pipedrive Pipedrive is a renowned sales CRM platform designed to optimize customer relationship management processes, enabling businesses to streamline interactions, enhance data management, and improve customer experiences across various stages of the customer lifecycle. Its features include: Lead and pipeline management, workflow and marketing automation, and comprehensive reporting, Pipedrive provides businesses with the tools necessary to manage leads effectively. It automates key sales activities and gains valuable insights into customer behaviors and sales performance. As a cloud-based solution, Pipedrive offers flexibility and accessibility, allowing teams to work from anywhere and ensuring that all employees operate from the most current data. 3.2 ClickUp ClickUp is among the best CRM tools and revolutionary all-in-one productivity platforms that streamlines business operations by integrating essential tools such as AI, project management, document collaboration, and more into a unified system. The platform provides: Enhancement of the entire customer lifecycle, from lead tracking to customer onboarding, through its advanced CRM capabilities, which include customizable workflow visualizations, automation of sales processes, and comprehensive data management tools. ClickUp supports robust collaboration features that allow seamless integration across departments, ensuring that every team member is aligned and productive. With its ability to replace disparate workplace tools and create efficiencies, ClickUp helps organizations save significant time each week, fostering a more productive work environment. 3.3 Copper Copper is a distinguished CRM platform designed to integrate seamlessly with Google Workspace, enhancing the efficiency of relationship management for businesses. As the only CRM recommended by Google, Copper optimizes workflows by enabling users to manage leads, track communications, and access files without leaving their Google apps. Key Features: Real-time updates and contextual information across Gmail, Google Calendar, and Google Drive, ensuring that all customer interactions are streamlined and more productive. Copper empowers businesses to enhance customer relationships and drive revenue with features like direct contact addition from Gmail and Calendar, automatic file synchronization, and comprehensive visibility into communication histories. 3.4 Nutshell Nutshell, one of the top CRM tools, is a comprehensive platform that simplifies and enhances B2B operations in CRM and email marketing. It is designed especially for teams that prefer to avoid juggling multiple sales and marketing tools. Important Characteristics: Nutshell integrates seamlessly with prominent business tools, offering functionalities such as automated sales processes and advanced contact management, all accessible through its native mobile apps. The platform also features Nutshell Marketing, launched in 2021, which allows users to create, send, and measure the impact of marketing emails and automated drip sequences directly within the CRM. The integration ensures that marketing efforts are closely aligned with sales activities. 3.5 Nimble CRM Nimble is a streamlined and intuitive CRM platform for small businesses and solopreneurs utilizing Microsoft 365 or Google Workspace. Nimble combines CRM functionalities with contact management, social media insights, sales intelligence, and marketing automation into a cohesive relationship management tool. Distinctive Advantages: The platform enhances productivity by providing comprehensive company and contact insights directly within users’ email inboxes and across multiple workspaces, including Gmail and Outlook. Designed to cultivate and nurture relationships rather than manage sales, Nimble facilitates the organization of contacts, calendars, and communications in one accessible location. Its capability to integrate with over 100 apps enhances its utility, providing users with powerful tools for lead capture, pipeline management, and generating actionable insights through customizable reporting features. 3.6 Close Close, one of the best CRM software, is a dynamic CRM platform that caters to small business teams and solopreneurs, particularly those embedded within the Microsoft 365 or Google Workspace ecosystems. Distinguished Features: Seamless integration of CRM functionalities with advanced communication tools, sales intelligence, and marketing automation, all designed to enhance user productivity without the complexity of manual data entry or an intricate UI. It is highly acclaimed for its user-friendliness and cost-effectiveness and is consistently recognized as a leader in CRM solutions. Close supports a range of essential business tools directly within the user's existing workspace, including email, calendar sync, and task management. 3.7 Insightly CRM Insightly is a cutting-edge top CRM tool designed for modern businesses of all sizes, aiming to enhance customer relationships and accelerate growth. Insightly has quickly become a leading platform in the CRM sector, backed by significant venture capital investments totaling $38 million. Peculiar Features: Known for its user-friendly interface and quick setup, Insightly offers extensive customization options tailored to various industry needs, ensuring a swift return on investment at a competitive cost. The platform integrates seamlessly with popular tools such as Google Workspace and Microsoft 365, enhancing productivity without the need for constant switching between applications. With features like opportunity tracking, workflow automation, project management, and advanced email marketing, Insightly provides comprehensive tools to support marketing and sales teams in fostering deeper customer engagement, streamlining communication, and driving sales efficiency. 3.8 Sugar Sell SugarCRM’s Sugar Sell stands out as a sophisticated CRM solution that liberates businesses from the inefficiencies of traditional CRMs by providing a high-definition customer experience without the typical hassles. Unlike conventional platforms that often involve tedious manual entry and limited functionality, SugarCRM eliminates blind spots, busy work, and roadblocks, enhancing overall business efficiency. The platform offers: Unparalleled customizability and control, particularly with its on-premises deployment option, Sugar Enterprise, which allows for deep customization to be tailored to specific business needs. SugarCRM is designed to increase the understanding of customer needs, thereby improving conversion rates, revenue, customer satisfaction, and retention. It includes powerful tools like SugarBPM for process automation and real-time alerts for dynamic account management, ensuring that every customer interaction is maximized for engagement and efficiency. 3.9 Workbooks Workbooks is a versatile top CRM software platform tailored for growing companies seeking to streamline business operations and enhance customer engagement. It provides an extensive suite of services that encompasses not only the traditional realms of sales, marketing, and customer service but also integrates advanced functionalities such as marketing automation, event management, order management, invoicing, and supplier management. Its prime features: It is available at a cost significantly lower than that of major competitors, typically ranging from 50-70% less. Workbooks are designed to cater to various industries, including media and publishing, business services, manufacturing, technology, transport and logistics, and accounting, making it a flexible and affordable solution for businesses aiming to optimize their comme.rcial operations and customer interactions. 3.10 Maximizer Maximizer, a global leader in customer relationship management solutions, offers comprehensive CRM tools to optimize sales, marketing, and customer service operations. Key Characteristics: The platform stands out for its user-centric design that integrates seamlessly with essential applications like Outlook and offers extensive customization options to fit various sales processes. With a strong emphasis on actionable insights, Maximizer enables sales leaders to effectively monitor, guide, and enhance team performance, ensuring accountability and achieving revenue targets. Its robust suite of features includes advanced analytics, pipeline management, and automated workflows to boost productivity and foster authentic customer relationships. 4. Final Thoughts Selecting the right CRM tools can significantly enhance customer engagement and maximize ROI by automating workflows and providing detailed analytics to guide decision-making. The future of CRM tools is likely to be shaped by the following trends: AI can analyze data more deeply to provide insights, predict customer behavior, and personalize customer interactions. Ensuring seamless customer experiences across all channels, whether online, in-app, or in-person, will be crucial. With increasing concerns over data privacy, CRM tools that prioritize secure data handling will be more in demand. These technologies could be used to enhance customer experiences, especially in fields like retail and real estate. As businesses continue to grow and prosper, CRM tools will play a pivotal role in shaping successful customer engagement strategies. By deploying emerging technologies and focusing on customer-centric approaches, companies can ensure sustainable growth and a strong competitive edge.

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Advertiser Platforms

Google’s and Facebook’s Grip on Digital Advertising Markets

Article | March 12, 2024

Since July 2019, the UK’s Competition and Markets Authority has been conducting an extensive investigation of the digital advertising market. In its preliminary report on the investigation, the CMA expresses concerns that Google and Facebook have grown so “large and have such extensive access to data that potential rivals can no longer compete on equal terms.” 2019 marked the year in which digital advertising finally took the crown from TV and other legacy media both in the US and worldwide. Estimates point out that digital ads now account for 51 percent of the almost $600 billion spent globally on advertising, a percentage that should only rise with time.

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Which Online Advertising Strategy Is Right For Your Business?

Article | February 10, 2020

Part of running a business in this era of technology is establishing an online presence. This does not only mean having a well-put-together website and being active on social media, which are both a big part of what online marketing means. In order to reach audiences and turn them into customers, you also need to invest in online advertising. Sometimes, finding the best-suited advertising strategy for your business can be quite daunting, especially given the fact that you have so many options to choose from in the sea of digital marketing. The accessible costs of digital advertising, especially when compared to traditional advertising, may make it tempting for you to what to invest in as many types of ad campaigns as you can find, but keep in mind that they may not all work for your business.

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Spotlight

Add3

Add3 is a digital agency that delivers integrated digital marketing campaigns across paid search, SEO, social & display advertising, helping our clients reach their marketing goals. Our mission is to take an integrated, performance-driven approach to connect brands with their customers across digital channels to reach their marketing goals. We exist to create a place where the best people in digital marketing want to work and that brands want to work with. We are high-speed, low-drag, digital marketing geeks that live for results. Add3 is located in Seattle, WA. We serve a broad range of clients throughout the U.S., ranging from Global 500 organizations to earlier-stage technology companies.

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Brand Marketing, Advertiser Platforms

Gupshup brings Vertex AI-powered AI chatbots into RCS conversations

PR Newswire | February 26, 2024

Gupshup, the world's leading Conversation Cloud platform today announced that brands on its platform can now offer AI chatbots for RCS conversations, opening up a whole new advanced and interactive experience for their users. Gupshup's Conversational AI product suite, spanning Auto Bot Builder and ACE LLM, are now using Google Cloud's Vertex AI platform to bring the benefits of Google's large language models (LLMs) to Gupshup's customers globally. The integration will enable businesses to deliver more precise and human-like interactions with speed and scale and offer a more personalized and responsive experience. Further, AI assistants on RCS will be able to intelligently respond to unstructured queries, assisting customers across various stages–from product discovery, lead generation to troubleshooting and customer support. "Generative AI is transforming the RCS industry, and we're thrilled that Gupshup is utilizing our latest LLMs on Vertex AI to further personalize and enhance how businesses engage with customers through AI-driven conversations," said Warren Barkley, Senior Director of Product Management, Vertex AI at Google Cloud. "Vertex AI provides partners like Gupshup with a unified AI platform to leverage state-of-the-art foundational models, and we look forward to seeing the ways Gupshup continues to innovate with this technology." "We've always leveraged the latest cutting-edge AI technologies to offer a superior customer engagement platform to our brands. With our Auto Bot Builder and domain-specific ACE LLM now leveraging Google's LLMs, business messages on RCS are set to get a massive facelift, leading to better ROI for enterprises. We are excited to work with Google Cloud to help our brands bring intelligent conversations on RCS that will redefine customer engagement," said Beerud Sheth, Founder and CEO, Gupshup. Gupshup is a pioneer in leveraging domain-specific, fine-tuned large language models (LLMs) to automate the creation of enterprise-grade chatbots with appropriate guardrails. In January 2023, it launched Auto Bot Builder, a tool that leverages LLMs to automatically and effortlessly build advanced chatbots for enterprises. Gupshup's Conversational AI solutions are already live with several clients in India and abroad. The advanced chatbot for Dubai Electricity and Water Authority (DEWA) - Dubai's largest utility, is powered by Gupshup. In India, several brands such as Tata Capital and Chaayos are using it for brand engagement, product discovery, employee training, and consultative selling.

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Ad Tech and Martech, Advertiser Platforms

Jasper Expands by Acquiring Image Platform Clipdrop from Stability AI

PR Newswire | February 23, 2024

Jasper, one of the world's biggest generative AI app companies, has announced that it has reached an agreement to acquire Clipdrop, an AI image creation and editing platform, from Stability AI. This acquisition signifies a significant step forward in Jasper's capacity to deliver the most comprehensive, multimodal copilot for enterprise marketing teams. Clipdrop is an image creation and editing platform used by millions of creative designers and brands worldwide. Founded in 2020 by Google alumni Cyril Diagne, Damien Henry, and Jonathan Blanchet, Clipdrop enables users to edit existing images, create new ones, and develop an expansive number of variations in size, detail, and style. For marketers and brand leaders, this technology can be a catalyst for accelerating their ad strategies and developing on-brand creative. "Marketing is visual," said Timothy Young, CEO of Jasper. "The addition of Clipdrop to Jasper will advance our vision to be the most comprehensive end-to-end marketing copilot in the industry, powering all the formats, channels, and functions enterprise marketing teams need. A copilot this robust will enable the enterprises we serve to go beyond simple AI prompts to achieve more personalized marketing, better informed automation, and improved optimization across their entire strategy." The Clipdrop team will join Jasper effective immediately and continue to lead research and innovation on multimodality in Jasper from their headquarters in Paris, which has become a hub of AI innovation in Europe. With this acquisition, Jasper expands its footprint to Europe and plans to continue to invest there from both a talent and customer acquisition standpoint. The company is eager to contribute to Paris's vibrant AI community. "Jasper has been a valued partner, leveraging Stability AI models for many years," said Emad Mostaque, CEO of Stability AI. "We're thrilled to see Clipdrop expand their offering by joining forces with Jasper. We will continue to partner with Clipdrop on research and deliver our cutting-edge models to their platform." "We are excited about what Clipdrop technology can do inside Jasper's copilot for marketing teams," said Damien Henry, Clipdrop co-founder. "There are natural synergies between the two companies and a clear focus on creating the best multimodal platform for marketers. We can't wait to get started." In addition to leading further development of AI-assisted image creation and editing, Damien Henry will play a larger leadership role in research and innovation for the entire Jasper product. The acquisition of Clipdrop closed on February 20, 2024. Business customers will be able to access it through the Jasper API immediately, over time the functionality will be more deeply integrated into the copilot. Individuals can still purchase Clipdrop as a standalone product via Clipdrop.co

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Display Advertising, Social Media Advertising

MyTradeZone.com Joins Certified Trade Mission to Hong Kong to Explore Business Expansion Opportunities in Asia

MyTradeZone | November 28, 2023

MyTradeZone.com, a trade and Social Networking for businesses, is pleased to announce its upcoming visit to Hong Kong from December 4th to 8th, 2023. Bachir Kassir, founder of MyTradeZone, will join a delegation of American companies to Hong Kong as part of a U.S. Department of Commerce Certified Trade Mission organized by IBS Global Consulting with the support of the Hong Kong Trade Development Council and the U.S. Commercial Service. The delegation, comprising a diverse group of American companies, aims to foster cross-border partnerships, explore export opportunities, and deepen economic ties between the United States and Hong Kong. The visit to Hong Kong presents an exciting opportunity for MyTradeZone.com to expand its global reach, tap into new markets, and establish key connections with Hong Kong's dynamic business community and trade associations. With Hong Kong's strategic location as a gateway to the Asia-Pacific region, robust financial services sector, and reputation as a major international trade hub, this visit holds immense promise for American enterprises looking to navigate the Asian market. Led by Tonya McNeal-Weary, Managing Director at IBS Global Consulting, the delegation will engage in a series of high-level meetings, networking events, and industry-specific forums during the five-day visit. These activities are designed to facilitate mutually beneficial partnerships between U.S. and Hong Kong businesses across various sectors. [MyTradeZone.com] is a disruptive business networking platform, and is like an always open trade show: • Businesses: Add company profile page. Showcase products & services. Network locally and around the world • Event Organizers, Trade Associations, & Networking Groups: Provide value-added offering to members & sponsors in a public or private setting • Creators & Group owners: Monetize your creations via peer-to-peer payment enablement • Advertisers and Marketers: MyTradeZone's B2B search engine offers highly targeted and cost-effective advertisements to both buyers and sellers • Business Professionals: Grow your professional network, chat, connect, follow, takes notes, share and collaborate As an official member of the delegation, MyTradeZone will have the opportunity to gain firsthand insights into Hong Kong's business landscape, explore regulatory frameworks, exchange best practices, and forge lasting relationships with key stakeholders. Additionally, the itinerary includes tailored site visits to cutting-edge facilities and industrial parks, showcasing Hong Kong's commitment to innovation and entrepreneurship. The visit to Hong Kong aims to enhance trade cooperation and seeks to highlight the enduring friendship between the United States and Hong Kong. As both economies continue to recover from the challenges posed by the global pandemic, this visit becomes even more crucial in reinvigorating trade ties and promoting long-term economic growth. About MyTradeZone.com MyTradeZone is a social networking platform for businesses. We are working on the next thing to disrupt business networking. MyTradeZone is a forward-thinking B2B media technology company reshaping how businesses connect and network. MyTradeZone's B2B search engine offers highly targeted and cost-effective advertisements to both buyers and sellers. MyTradeZone is also a perfect companion offering to trade show organizers and networking groups offering value added benefits to both members and sponsors.

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Brand Marketing, Advertiser Platforms

Gupshup brings Vertex AI-powered AI chatbots into RCS conversations

PR Newswire | February 26, 2024

Gupshup, the world's leading Conversation Cloud platform today announced that brands on its platform can now offer AI chatbots for RCS conversations, opening up a whole new advanced and interactive experience for their users. Gupshup's Conversational AI product suite, spanning Auto Bot Builder and ACE LLM, are now using Google Cloud's Vertex AI platform to bring the benefits of Google's large language models (LLMs) to Gupshup's customers globally. The integration will enable businesses to deliver more precise and human-like interactions with speed and scale and offer a more personalized and responsive experience. Further, AI assistants on RCS will be able to intelligently respond to unstructured queries, assisting customers across various stages–from product discovery, lead generation to troubleshooting and customer support. "Generative AI is transforming the RCS industry, and we're thrilled that Gupshup is utilizing our latest LLMs on Vertex AI to further personalize and enhance how businesses engage with customers through AI-driven conversations," said Warren Barkley, Senior Director of Product Management, Vertex AI at Google Cloud. "Vertex AI provides partners like Gupshup with a unified AI platform to leverage state-of-the-art foundational models, and we look forward to seeing the ways Gupshup continues to innovate with this technology." "We've always leveraged the latest cutting-edge AI technologies to offer a superior customer engagement platform to our brands. With our Auto Bot Builder and domain-specific ACE LLM now leveraging Google's LLMs, business messages on RCS are set to get a massive facelift, leading to better ROI for enterprises. We are excited to work with Google Cloud to help our brands bring intelligent conversations on RCS that will redefine customer engagement," said Beerud Sheth, Founder and CEO, Gupshup. Gupshup is a pioneer in leveraging domain-specific, fine-tuned large language models (LLMs) to automate the creation of enterprise-grade chatbots with appropriate guardrails. In January 2023, it launched Auto Bot Builder, a tool that leverages LLMs to automatically and effortlessly build advanced chatbots for enterprises. Gupshup's Conversational AI solutions are already live with several clients in India and abroad. The advanced chatbot for Dubai Electricity and Water Authority (DEWA) - Dubai's largest utility, is powered by Gupshup. In India, several brands such as Tata Capital and Chaayos are using it for brand engagement, product discovery, employee training, and consultative selling.

Read More

Ad Tech and Martech, Advertiser Platforms

Jasper Expands by Acquiring Image Platform Clipdrop from Stability AI

PR Newswire | February 23, 2024

Jasper, one of the world's biggest generative AI app companies, has announced that it has reached an agreement to acquire Clipdrop, an AI image creation and editing platform, from Stability AI. This acquisition signifies a significant step forward in Jasper's capacity to deliver the most comprehensive, multimodal copilot for enterprise marketing teams. Clipdrop is an image creation and editing platform used by millions of creative designers and brands worldwide. Founded in 2020 by Google alumni Cyril Diagne, Damien Henry, and Jonathan Blanchet, Clipdrop enables users to edit existing images, create new ones, and develop an expansive number of variations in size, detail, and style. For marketers and brand leaders, this technology can be a catalyst for accelerating their ad strategies and developing on-brand creative. "Marketing is visual," said Timothy Young, CEO of Jasper. "The addition of Clipdrop to Jasper will advance our vision to be the most comprehensive end-to-end marketing copilot in the industry, powering all the formats, channels, and functions enterprise marketing teams need. A copilot this robust will enable the enterprises we serve to go beyond simple AI prompts to achieve more personalized marketing, better informed automation, and improved optimization across their entire strategy." The Clipdrop team will join Jasper effective immediately and continue to lead research and innovation on multimodality in Jasper from their headquarters in Paris, which has become a hub of AI innovation in Europe. With this acquisition, Jasper expands its footprint to Europe and plans to continue to invest there from both a talent and customer acquisition standpoint. The company is eager to contribute to Paris's vibrant AI community. "Jasper has been a valued partner, leveraging Stability AI models for many years," said Emad Mostaque, CEO of Stability AI. "We're thrilled to see Clipdrop expand their offering by joining forces with Jasper. We will continue to partner with Clipdrop on research and deliver our cutting-edge models to their platform." "We are excited about what Clipdrop technology can do inside Jasper's copilot for marketing teams," said Damien Henry, Clipdrop co-founder. "There are natural synergies between the two companies and a clear focus on creating the best multimodal platform for marketers. We can't wait to get started." In addition to leading further development of AI-assisted image creation and editing, Damien Henry will play a larger leadership role in research and innovation for the entire Jasper product. The acquisition of Clipdrop closed on February 20, 2024. Business customers will be able to access it through the Jasper API immediately, over time the functionality will be more deeply integrated into the copilot. Individuals can still purchase Clipdrop as a standalone product via Clipdrop.co

Read More

Display Advertising, Social Media Advertising

MyTradeZone.com Joins Certified Trade Mission to Hong Kong to Explore Business Expansion Opportunities in Asia

MyTradeZone | November 28, 2023

MyTradeZone.com, a trade and Social Networking for businesses, is pleased to announce its upcoming visit to Hong Kong from December 4th to 8th, 2023. Bachir Kassir, founder of MyTradeZone, will join a delegation of American companies to Hong Kong as part of a U.S. Department of Commerce Certified Trade Mission organized by IBS Global Consulting with the support of the Hong Kong Trade Development Council and the U.S. Commercial Service. The delegation, comprising a diverse group of American companies, aims to foster cross-border partnerships, explore export opportunities, and deepen economic ties between the United States and Hong Kong. The visit to Hong Kong presents an exciting opportunity for MyTradeZone.com to expand its global reach, tap into new markets, and establish key connections with Hong Kong's dynamic business community and trade associations. With Hong Kong's strategic location as a gateway to the Asia-Pacific region, robust financial services sector, and reputation as a major international trade hub, this visit holds immense promise for American enterprises looking to navigate the Asian market. Led by Tonya McNeal-Weary, Managing Director at IBS Global Consulting, the delegation will engage in a series of high-level meetings, networking events, and industry-specific forums during the five-day visit. These activities are designed to facilitate mutually beneficial partnerships between U.S. and Hong Kong businesses across various sectors. [MyTradeZone.com] is a disruptive business networking platform, and is like an always open trade show: • Businesses: Add company profile page. Showcase products & services. Network locally and around the world • Event Organizers, Trade Associations, & Networking Groups: Provide value-added offering to members & sponsors in a public or private setting • Creators & Group owners: Monetize your creations via peer-to-peer payment enablement • Advertisers and Marketers: MyTradeZone's B2B search engine offers highly targeted and cost-effective advertisements to both buyers and sellers • Business Professionals: Grow your professional network, chat, connect, follow, takes notes, share and collaborate As an official member of the delegation, MyTradeZone will have the opportunity to gain firsthand insights into Hong Kong's business landscape, explore regulatory frameworks, exchange best practices, and forge lasting relationships with key stakeholders. Additionally, the itinerary includes tailored site visits to cutting-edge facilities and industrial parks, showcasing Hong Kong's commitment to innovation and entrepreneurship. The visit to Hong Kong aims to enhance trade cooperation and seeks to highlight the enduring friendship between the United States and Hong Kong. As both economies continue to recover from the challenges posed by the global pandemic, this visit becomes even more crucial in reinvigorating trade ties and promoting long-term economic growth. About MyTradeZone.com MyTradeZone is a social networking platform for businesses. We are working on the next thing to disrupt business networking. MyTradeZone is a forward-thinking B2B media technology company reshaping how businesses connect and network. MyTradeZone's B2B search engine offers highly targeted and cost-effective advertisements to both buyers and sellers. MyTradeZone is also a perfect companion offering to trade show organizers and networking groups offering value added benefits to both members and sponsors.

Read More

Events