Sell Globally with Multiple Currencies

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Multi-currency

Picture these real-time business scenarios,

  • A big company from Japan is ready to buy your products in bulk, but can pay only in Japanese Yen and not in your local currency.
  • Your supplier (say diamond or gold mining company) from South Africa insists you to raise the Purchase Order only in Rand.
  • You’ve a large sales organization spanning across several countries with head quarters in United States. And in each country you’ve agreed do business in the local currency while obtaining license from the government agencies.
  • You’re running a B2C e-commerce portal to sell designer women’s brands, jewellery and accessories not only to the US customers but to an international audience.
  • You’re in a highly competitive segment and all your competitors are selling products in different currencies to acquire the market share.

Whether Small, Medium or Large, your company will experience one or many of the above scenarios either due to Government regulations or by your business model. Hence your CRM and Accounting software must support the sales transactions & receivables/payable in multiple currencies. Keeping in mind the business needs of companies who deal with such scenarios, we at Zoho CRM offer complete support for multiple currencies to all users of Enterprise Edition.

Let’s quickly take a look at some of the key features of multi-currency support,

As an Administrator you can,

  • Choose the Home Currency for your company.
  • Activate a list of currencies for your sales reps.
  • Update currency conversion rates periodically.

As a Sales rep you can,

  • Use the desired currency while entering amount field in potential or other modules.
  • Generate quotes, sales orders, invoices and purchase orders in different currencies.
  • View sales pipeline report in your home currency.

For detailed description, refer our online help. To make the multi-currency roll-out easier for your company, we’ve also published implementation guide and compiled a few FAQ.

Eating your own dog food: Multi-currency at Zoho Corp.

Zoho Corporation has offices in United States, India, Japan, China, and Singapore selling both on-premise and online software to tens of thousands customers in more than 150 countries. Even though our fiscal currency is USD, customers from India, Japan, China and Singapore, buy products only in Indian Rupee (INR), Japanese Yen (JPY), Chinese Yuan (CNY) or Singapore Dollar (SGD) respectively. As our Sales team across regions use a single Zoho CRM account to track sales activities, implementing multi-currency became very important.

As soon as this feature was ready for the Beta testing, we activated it in our company’s CRM account. Previously, our regional sales managers were manually converting the quoted amount to USD whereas the Finance team were raising invoices in local currency. Now, all of them are directly entering the amount only in the local currency. We also track the consolidated sales pipeline in home currency at the organization-level.

We hope that you’ll find this new feature very useful to go global & grow your business. Please give it a try and let us know your business scenarios, suggestions, and experiences in the Comments box. We will be happy to improve this feature further based on your feedback.

Happy Selling!
Gopal

Zoho Projects in Your Pocket : Our Native App for iPhone

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A mobile phone is the first thing you pick up in the morning, and the last thing you put away while you’re going to sleep. You browse with it, connect with your family, friends and interact with those that matter most on it. But that’s not all, it stays with you and keeps up with you where ever you are.

On this front, we recently made an announcement of Zoho Projects Native App for iPhone at our Zoholics event. With this update, we’re making it easier than ever to connect from anywhere and get your work done faster so your productivity never skips a beat – even if you’re in an airplane.

For Example, you can quickly get to know who is working on what in a project, check off your tasks when they’re done and manage timesheets from anywhere. Need to share an important detail? No worries, just pick your mobile, tap and share it with the team and voilà… your update is posted even when you are away on a travel.


Here is a list of all the cool things you can do with your iPhone :

  • Create, assign and close tasks effortlessly right from within your mobile
  • Keep in touch more easily with latest project activities on the fly
  • Access your timesheets to log time in a few easy taps…it’s all at your fingertips
  • Knock off your tasks and task list when you’re done even outside your office
  • Use iPhone to record voice as task notes without breaking your train of thoughts

You’re just a few steps away from activating the iPhone Mobile App for Zoho Projects. Click to Activate iPhone Mobile App and learn more about this at iPhone User Guide.

In addition, visit the iTunes or App Store and download the Zoho Projects Native App for your mobile and start accessing Zoho Projects right away. Mobile edition is available for all paid plans and starts at $3 per user/month or $30 per user/year.

A quick note: When you install Zoho Projects on your iPhone, 15 days free trial is automatically enabled for your portal.

We’d love to hear a lot from you as comments below or share your views with our Zoho Mobile team at support@zohomobile.com

Zoho Books Gets Even Easier to Use With Automatic Bank Feeds

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We’re always looking for ways to simplify life for our customers. We are thrilled to announce a major update to our accounting software, Zoho Books: You are now able to connect your bank and credit card accounts securely and automatically download transactions right into Zoho Books.

Reduce manual data entry
Let me illustrate with this with a simple example. You’ve bought a flight ticket using your credit card. To keep track of this in your accounting system, you’d need to manually classify this as a Travel Expense and enter multiple information including the amount, date, reference number, the airline from whom the ticket was purchased etc. This is tedious and can lead to mistakes. Even after going through this you are still not done – you still need to reconcile this with your bank statement. This is just one transaction. Imagine doing this for hundreds of transactions and the time wasted quickly adds up. We all have got better things to do!
But when you opt to receive automatic bank feeds, Zoho Books pulls in transactions from your bank accounts and all you’ll need to do is classify this as ‘TravelExpense’.

Auto-classification of Transactions with bank rules
Furthermore, Zoho Books allows you to specify how you want to classify the bank and credit card transactions, taking this closer to zero data entry. Continuing with the same example, you can tell Zoho Books to classify all purchases that in the description have ‘Southwest Airlines’ as “Travel Expense”. Voila! Absolutely nothing to enter and completely error free again.

We Support THOUSANDS of Banks 
Currently we support several thousands of banks that we are able to receive feeds via Yodlee. However, these do not include banks that require multi factor authentication. We will include these banks in our upcoming product upgrades. Yodlee is the world’s leading provider of online banking solutions and banks world over use Yodlee to automate aggregation of account data.
So what if your bank is not there in the list of automatic feeds? Don’t worry, we also allow you to import a CSV file bank statement. You still can gain massively from auto-categorization and avoid data entry. You just need to upload the statement yourself instead of Zoho Books doing it for you.

To learn more about this, visit our tour page.

This has been a top-requested feature from you, our customers. We can’t wait to have you try it out and let us know what you think.

Introducing Mobile Apps for CRM, Projects & Docs

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At the Zoholics event today in San Francisco, we introduced three new native mobile applications.

Zoho CRM on Android
Zoho Projects on iPhone
Zoho Docs on Android

Zoho CRM on Android is the most requested mobile app. We launched the application today in Google Play (Market) and is available for free for users with CRM Mobile edition enabled. The application offers offline access to your CRM data from a broad range of modules – Leads, Accounts, Contacts, Potentials, Tasks, Events, Calls & Cases. You can view, edit and delete data from your mobile.

With this release, Zoho CRM is now available on iPhone, Android & Blackberry along with our mobile web app.

Zoho Projects for iPhone is also announced at the Zoholics event today. This app brings three key modules to the iPhone – Activities, Tasks & Timesheet. You can now create edit and close your project tasks on the go. With the in-build timer, you can start/stop timers for multiple tasks to record work hours on the go that can subsequently be logged into the project Time Sheet for billing.

The app also allows you to record text and voice notes for tasks and for quick capture of events and status on the move. No matter what you do, all your data is always in sync with Zoho Projects.

The application will be available on AppStore very soon for users with Mobile Edition enabled in Zoho Projects. (UPDATE: It’s available now)

Zoho Docs for Android is also introduced at the Zoholics event today. It offers the same set of features we have on our iPhone and iPad apps. You can now view your private and shared documents, spreadsheets, presentations and more on the go, on your phone.

Apart form these three apps, we are also previewing few other mobile apps exclusively for Zoholics attendees. We will talk about those in this blog at a later date.

Experience faster and smoother Remote Support

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With the highly improved quality and connection speed of Zoho Assist, you can now connect and control your customer’s computer much easier and faster, regardless of their Operating System ( Windows / Mac / Linux ). Default viewing experience and remote control access in cross-platform support is made better and faster.

Better quality for remote Mac OS support
As you know well, Zoho Assist supports all flavors of Mac OS. Now, we have specially increased the support quality and connection speed for the Mac OS, suiting its higher resolution and enhanced graphics, to provide better screen sharing experience.

Connect Faster. Support your customers easily. Smoother keyboard synchronization
Typing and working with remote keyboard is breeze with the refinements made in keyboard synchronization. Whether you are in your customer’s computer or remoting into another Server in your customer’s LAN, or working on the remote browser / desktop, you will have smooth and consistent remote support experience, just like working in your own PC.

Multiple monitor support and reduced color quality featureEasy switch between monitors
Does your customer has multiple monitors and you want to assist them remotely? No worries. Now switching between monitors is much faster with Zoho Assist (Currently, multiple monitor is supported in Windows OS only).

Quick access with Reduced Color Quality
Even if your customers are in slow network connection, you can still connect with them easily by reducing the Color Quality from your toolbar and get quick access to their Desktop.

Hope you find these enhancements useful. We will continue to provide you with a better and more comfortable remote support experience. Try Zoho Assist and share your experience with us.

Zoholics Event Next Week

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Our first Zoholics event in US is less than a week away. If you still didn’t register for the event, you might want to get your ticket right away as we only have a handful of tickets left.

We have great line up of speakers including Paul Greenberg, Gene Marks, Doug Sleeter and our own Sridhar Vembu. We have attendees from 19 states and 7 countries attending the event and frankly, we are surprised by the interest we have seen for the event.

If you are flying in to San Francisco, you can take the free shuttle form the airport to Hilton. If you are interested in the event, but couldn’t make it, we will keep you updated through our Twitter account. All sessions will be recorded and posted on Zoholics site after the event. The hashtag for the event is #zoholics.

We are looking forward to seeing you at the event.

 

Fresh updates on exchange rate in Zoho Invoice and Zoho Books

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When running your own business, it’s mighty difficult to keep track of everything. Your memory cells will plead for mercy if asked to remember the exchange rate entered for every currency ever used.

Keeping that in mind, in Zoho Invoice and Zoho Books, you can:

  • View last set exchange rate: Exchange rate set for a customer’s currency is now saved in settings. When creating a new invoice for the same customer, system reminds you of the last set rate. You can choose the existing rate or set a new rate or set a new rate just for the invoice. There’s more flexibility as you can modify them whenever you want. New rate does not affect your old invoices. If you want to view the rate set by you on a given date, just go over to the exchange rate history page in settings.

Exchange Rate

  

  • Recalculate Item Price : Another thing to take note of, are the item prices which you would probably have stored as per your currency. You can’t run around looking for a calculator everytime you want to recalculate the item price. Just select your customer’s currency in Zoho Invoice and have the price recalculated for all the items in the invoice.

  • Import and export exchange rate: Why type when you can just import it all in quick and easy steps. Get the data from one of the currency conversion sites as a CSV or TSV file and pull it in Zoho Invoice smoothly.

Learn more about setting the exchange rate for a currency in our help section. ​We hope you like the additions and it comes in handy when tackling the ever fluctuating rates. You can add your suggestions below or even share  how you manage the rise and fall of the exchange rate for your business.