Glossary & best practices
Terminology and best practices to nurture your sales process and operations.
Bundle
A bundle in handify refers to a curated collection of documents and information that can be easily shared via email with customers and prospects. Bundles allow sales teams to quickly gather and distribute all relevant product information, marketing collateral, and company documentation in one seamless package.
Bundles typically contain three main components:
1. Product-Specific Documents
These include product datasheets, technical specifications, certifications, pricing guides, and any other materials that provide details on the specific product(s) being presented. See product document type.
2. Company/Marketing Documents
Items like corporate brochures, quality/regulatory documents, processing guides, general statements, and more that highlight organizational capabilities and expertise. See general documents.
3. Quotes
Formal pricing quotes can be shared based on the products, quantities, and configurations being proposed to the customer.
3. Sample request
Sample request forms can be included to allow users to easily request product samples directly from the bundle, streamlining the sample fulfillment process.
By configuring customized bundles, sales teams avoid having to hunt down and compile documents manually for each sales opportunity. Bundles save time and ensure consistent, professional, and comprehensive information is being delivered to customers, while also streamlining sample request processes.
Key benefits of bundles include:
Showcasing full product and company credentials efficiently
Flexibility to customize bundles for different audiences/requirements
Ability to update/maintain documents centrally for all bundles
Professional packaging and digital distribution of collateral via email
Streamlined sample request and fulfillment process integration
Bundles streamline content sharing and give sales teams a simple way to deliver a wealth of informative, persuasive materials that demonstrate product fit and organizational competency, while facilitating seamless sample requests when needed.
Cost Type
The Cost Type setting determines which costing method is used to calculate gross margins and profitability for products and quotes in handify. Here are two examples of cost types:
Regular or Standard Cost
The Standard Cost represents the typical or expected cost for procurement of a product under normal circumstances. It is a pre-determined, fixed cost that allows for consistent gross margin calculations. Standard costs could be periodically updated to account for changes in supply, overhead, etc.
Advanced Cost Models
Advanced Cost Types allow you to define more sophisticated costing logic that factors in additional variables beyond a single fixed cost. This enables calculating realistic net profitability in scenarios such as:
Landed costs that include duties, tariffs, shipping
Quantity-based pricing tiers from suppliers
Costs that vary by sales region or customer
Allocations for overhead, labor, materials
Formulas with multiple cost component
Change of supplier of raw materials
Handify allows you to create and configure custom cost types to meet your organization's unique needs. You can add any type of cost to register or determine the total cost for gross margin purposes. This provides maximum flexibility to analyze profitability precisely.
While standard costing provides simplicity, advanced cost models give more accurate profitability analysis by closer reflecting the true costs incurred. This can better inform pricing strategies, identify margin opportunities, and more precisely track cost fluctuations over time.
Document Tags
Document tags are labels or categories that can be assigned to general documents uploaded to handify. Tags enhance searchability and allow for better organization and sharing of content.
When uploading general documents like brochures, whitepapers, presentations and other marketing assets, users can apply relevant tags. These could include:
Content type (e.g. brochure, case study, presentation)
Topic or theme
Product line or brand
Region, industry or market segment
Department or document owner
Language
Update or version number
Using document tags makes it easier to locate the right files when building document bundles or sharing content. Users can search and filter on tags, or browse tags to see all associated documents.
Tags also allow documentation to be logically grouped and permissioned for relevant teams to view. For example, applying a "Sales Collateral" tag allows the documents to be accessible to the sales team.
Additionally, when new product versions or document updates occur, using version number tags seamlessly surfaces the latest assets while archiving outdated materials.
Comprehensive tagging might, flexibility streamlines document management and ensures the most current and relevant information is delivered to sales reps and customers. Consistent tag conventions enhance content discoverability across handify.
Product Document Type
A Document Type refers to a specific category of technical documentation that provides critical information related to a product or material.
Common document types include:
Technical Data Sheet (TDS). Comprehensive specifications, properties, application details and other technical data for a product. The TDS is usually the core document used to evaluate fit for an application.
Safety Data Sheet (SDS). Information about hazards, safety precautions, handling, storage, and emergency response related to a chemical product or material. SDSs are required for regulatory compliance.
Example of a Certificate of Analysis (COA). A certifying document that details the test results and measurements of a product's chemical and physical properties against specified quality standards.
Product Certifications. Official certification documents demonstrating a product's compliance with applicable regulations, standards or initiatives (e.g. Kosher, USDA Organic, GRAS).
Application Guidelines. Comprehensive instructions and best practices for utilizing a product in a particular application, such as food processing, personal care formulations, etc.
By effectively categorizing documents by type, handify ensures the right technical documentation can be easily attached to products and shared accurately. Proper association of document types prevents safety sheets from being misapplied, outdated certifications from being shared, and avoids missing key technical info.
Document types give crucial product documentation an organized structure within handify for better management and distribution to customers.
General Documents
General documents refer to files and materials that provide information about the company, its operations, policies, and certifications rather than being specific to an individual product or material. Common examples of general documents include:
Quality Certifications. Certificates demonstrating the company's adherence to quality standards/systems like ISO 9001, GMP, SQF, etc.
Regulatory Compliance Documentation. Filings, certifications, statements of compliance regarding relevant regulations like FDA, USP, REACH, etc.
Sustainability/CSR Reports. Environmental policies, initiatives, and reporting on corporate social responsibility efforts.
Process Descriptions. Explanations of key manufacturing processes, supply chain operations, quality control procedures, etc.
Position Statements. The company's official stance on particular issues that impact the business or industry.
General documents help provide credibility, reinforce expertise, and give prospective customers a more comprehensive view of the organization beyond just its product portfolio. They can be attached to bundles or shared individually.
Within handify, general documents are categorized separately from product-specific ones, while still being readily accessible to include with sales deliverables as needed. Proper classification ensures the right supplemental materials are available.
Incoterms
Incoterms are internationally recognized trade terms published by the International Chamber of Commerce (ICC). They are used to clearly communicate the obligations, costs, and risks associated with the transportation and delivery of goods.
Incoterms precisely define:
Which party (seller or buyer) is responsible for paying transportation costs.
At what point the risk of loss/damage transfers from the seller to buyer.
Which party handles import/export clearance procedures.
Who is liable for insurance during shipping
By setting the appropriate Incoterm on sales quotes in handify, both suppliers and customers understand the specific logistics requirements and cost allocations for an order. Common Incoterms include:
EXW (Ex Works) - Buyer arranges pickup from seller's premises.
FCA (Free Carrier) - Seller delivers to buyer's carrier.
CPT (Carriage Paid To) - Seller pays freight to named destination.
DDP (Delivered Duty Paid) - Seller handles import duties and delivery to buyer
Using accurate Incoterms eliminates confusion over logistics obligations and shipping/customs expenses. It protects both parties by codifying a mutually-understood agreement.
Handify allows associating the applicable Incoterm by product or setting a default at the company level. This ensures quotes consistently reflect the proper sales, shipping and importation terms based on established business policies.
For more information you can visit: https://iccwbo.org/business-solutions/incoterms-rules/incoterms-2020/
Marketing Asset
Marketing assets are digital files and materials used to communicate, promote, showcase and generate interest in products, services and the overall organization. These can include both product-specific and general company marketing collateral such as:
Product Brochures/Sell Sheets. Digital brochures highlighting key features, benefits, values and applications for a specific product or product line.
Corporate Presentations. Slide decks providing an overview of the company's background, capabilities, differentiation and value proposition.
Videos. Promotional videos covering product demonstrations, facility/process overviews, corporate messaging, etc.
Testimonials/Case Studies. Written or video testimonials and case study documentation from customers about successful applications.
Within Handify, marketing assets can be uploaded, stored and attached to bundles or distributed individually. They provide sales teams with crucial tools for engaging prospects and representing product/company value propositions.
Proper tagging and organization of marketing assets allows them to be easily discovered, updated and packaged for delivery based on specific sales motions or audiences. This accessibility accelerates lead nurturing and sells cycles.
Packaging
The packaging setting defines the container, vessel or unit that a product is quoted and sold in. Proper specification of packaging is important for:
1. Accurate Pricing
The packaging determines the quantitative amount that pricing applies to (e.g. price per liter, per kilogram, etc.)
2. Shipping/Logistics
The type of packaging impacts space/weight calculations for transportation and materials handling.
3. Customer Needs
Ensuring packaging formats align with a customer's desired unit sizes for dispensing, storage, etc.
Common packaging options include:
Bottle (e.g. 1 l, 2 gal)
Drum (e.g. 180 kg, 55 gal)
Supersack/Tote (e.g. 1,000 kg)
Truckload (e.g. 10 mt)
Pail (e.g. 10 kg, 20 kg)
Individually wrapped units
Case/Carton
For liquid, powder and bulk products, packaging plays a crucial role in the quoting and fulfillment process. Handify allows defining standard packaging options per product to streamline quote generation.
Proper packaging settings ensure orders are scoped correctly for logistics and pricing purposes.
Product Attribute
Products in handify can have various attributes that provide detailed information and specifications. An attribute type defines the format and behavior of how that product attribute is presented and handled within the system. Handify supports the following attribute types:
Text
The Text attribute type allows for free-form text entry to describe a product attribute. This could include short descriptions, specifications, instructions, or any other details relevant to the product. This attribute is going to be present in filters option.
Single Select
The Single Select attribute type provides a dropdown list of pre-defined options for an attribute, allowing only one option to be selected. This is useful for product attributes that have a set number of possible values (e.g. presentation, brand or product line). This attribute is going to be present in filters option.
Yes/No
The Yes/No attribute type is a true/false flag that indicates whether a particular attribute applies to the product or not. Common examples include indicators like "Kosher Certified" or “Gluten-Free.” This attribute is going to be present in filters option.
Multi-Select
The Multi-Select attribute type is similar to Single Select, but allows the user to choose multiple options from the pre-defined list simultaneously. The selected values are displayed together, separated by commas. Multi-Select attributes are designed to provide additional product details on the product page, but they cannot be used for filtering purposes, but they will be visible on the product detail page. This attribute is not going to be present in filters option, just in product page details.
Handify's flexibility in handling different attribute types ensures you can comprehensively catalog, between sections, all relevant product information in the most logical and user-friendly way possible.
Quote
A quote is a formal pricing proposal that is generated and shared with prospective customers during the sales process. Quotes in handify contain all the critical commercial details to advance conversations and secure orders, including:
Products/Materials
The specific items being offered, including product descriptions and codes.
Pricing
The sale price(s) for the quoted products, taking into account costs, margins, discounts and any special pricing agreements.
Quantities
The amount of each product offering, associated with the respective pricing and packaging units.
Packaging
The containers, cases, drums or other vessels the products will be delivered in based on customer needs or organization's production standards.
Quote Validity
The time period the quoted prices are valid and must be accepted by.
Payment Terms
Any specific payment terms, deposits or requirements specified. Free to add previous to send any bundle.
Delivery/Shipping
Incoterms outlining logistics obligations and costs for each party. Free to add previous to send any bundle.
Notes/Comments
The ability to add any supplementary notes, special instructions or context for the quote. Free to add previous to send any bundle.
Using handify's quoting functionality, sales teams can quickly configure and generate professional quotes based on pre-approved pricing and commercial rules. This ensures pricing accuracy and consistency across the sales organization. Comprehensive quoting drives sales efficiency and velocity.
Quote Type
The quote type specifies the purpose and nature of the pricing being provided in a given quote document. Handify supports multiple quote types to accommodate different commercial scenarios, for example:
Standard Quote. This is a conventional quote for a potential one-time order. Standard quotes contain pricing based on current costs and defined expiration dates.
Contract Quote. A contract quote outlines pricing for a committed, long-term supply agreement between a supplier and customer. Contract terms like volume tiers and lengths are factored in.
Reference Quote. A reference quote provides pricing for informational purposes only - not intended for an immediate order. It allows customers to evaluate potential costs for budgeting or future projects.
Blanket Order Quote. This type of quote establishes pricing for orders against an overarching "blanket" purchase order issued by the customer. Releases are then made periodically against this blanket pricing.
Sample Request Quote. Sample request quotes generate pricing specifically for small sample quantities of products, often needed for testing or evaluation by prospective customers.
By specifying the appropriate quote type, handify ensures the sales team generates accurate, consistent pricing tailored to the specific sales motion and commercial context. It prevents applying incorrect pricing and streamlines negotiations.
Quote types, combined with other commercial rules like patented pricing and promotions, give sales teams a framework to quickly create on-point, defensible quotes tailored to each opportunity.
Section
Sections are organizational components within the product workspace that allow grouping related product attributes and information together. They provide a logical structure for categorizing and presenting different types of product details.
Some common examples of sections include:
General (basic information like name, code, description)
Technical Specifications
Regulatory/Compliance
Packaging/Logistics
Certifications
Sustainability
Application Information
Sections make it easier to navigate through all the product data by separating it into relevant buckets or categories. Product managers with admin privileges can create new sections or re-arrange existing ones to align with specific needs.
For example, products targeted at food & beverage may have an "Ingredient Statement" section, while ones for personal care could have a "Formulation Tips" section.
Within each section, users can configure which attributes are included, such as text fields, single/multi-select values or Yes/No attributes types. This allows comprehensive detailing of all pertinent information.
The ability to fully customize sections ensures the product workspace organizes data in the most logical way for a product line or industry. It provides visibility into the most relevant information for different roles like sales, marketing and R&D.
Overall, sections enhance usability of the product workspace and enable tailoring the user experience to meet organizational requirements.
Workspace
The workspace is the centralized environment within Handify for managing all product data, attributes, and associated information. It serves as the complete framework for cataloging products and creating a seamless experience for sales teams and customers.
The key components of the workspace include:
Sections
Logical groupings that organize related product attributes, specs, and content into categories (e.g. technical data, regulatory, packaging). See sections.
Product Attributes
Individual fields for capturing all details related to a product - from descriptions to technical specifications, certifications and more. See product attributes.
Template
Pre-built sections and attribute structures that can be applied to accelerate workspace setup.
With a fully customizable workspace, product managers can construct the ideal framework to comprehensively detail any product offering. Configurable sections and attribute types enable aligning the workspace to unique requirements across industries.
The workspace design streamlines product onboarding via bulk data uploads and imports. Once populated, it becomes a powerful product information library enabling smart filtering.
See more information about handify's template.
Filtering & Search
Quickly isolate products meeting precise criteria for customer inquiries.
The workspace's intelligent architecture and centralized data model allows seamlessly surfacing the right product content and tools to sales teams for each specific sales motion. This accelerates the entire sales cycle from education to quoting.
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