Smart Process Automation (SPA) is essentially the next version or step in innovation of RPA (Robotic Process Automation), sometimes also referred to as RPA 2.0. Current SPA capabilities enable the automation of repetitive tasks with greater complexity and reasoning required to process, thus those which also require a more cognitive answer or result (unlike RPA). This technology employs 1) Business Logic (or RPA), 2) the so-called “human in the loop” and 3) Machine Learning (ML). The RPA serves as the foundation of SPA, the human element addresses exceptions which arise from more complex processing of unstructured data and the ML learns to predict correct answers from those human responses. SPA yields great value in handling unstructured data. ML can prove particularly valuable in the repetitive and time-consumer task of categorizing data, which also requires some cognitive ability.
AB Testing (or Split Testing) is an experiment to test different variants against each other.
See MoreAI Guided Selling describes a sales process optimized through the use of artificial intelligence (AI) and machine learning (ML).
See MoreAccount Intelligence is the technology-supported analysis of a potential customer on the market and the subsequent provision of the collected data.
See MoreWith account intelligence tools, sales organizations can search for potential customers and specific information about them (e.g. company data, contact details or buying signals) in a targeted and efficient manner.
See MoreADR's are sales specialists focusing on generating new Leads/ Prospects.
See MoreAn Account Executive (AE) is a sales specialist who is responsible for existing customers.
See MoreAccount-based marketing is a Go-to-Market Strategy that focuses on a specific customer segment.
See MoreAccount-based Selling is a primarily B2B Sales Strategy that focuses on a specific customer segment.
See MoreActionable Insights are meaningful findings that result from analyzing data. They make it clear which actions need to be taken or how one should approach finding a solution to an issue.
See MoreActionable metrics refer to sales metrics which are easy to identify and act on, giving you the ability to influence and make clear decisions around them.
See MoreActivity Metrics refer to data points that represent the performance and behavior of your sales team.
See MoreProduct Adoption is the process whereby users become aware of a product, understand its value, and begin to use it.
See MoreAnnual Recurring Revenue (ARR) is the amount of contracted monthly revenue calculated on the basis of a calendar year.
See MoreApplication Program Interface (API) is a technical interface for the exchange of data.
See MoreArtificial Intelligence (AI) uses data from computers, machines and software to simulate the processes of human intelligence.
See MoreBASHO is a highly personalized sales email, mostly targeted at c-level executives.
See MoreBDR's or SDR's are sales specialists focusing on generating new Leads/ Prospects.
See MoreThe buying center consists of people who are involved in a specific purchasing decision.
See MoreA Buying Signal is a verbal or nonverbal indication of a prospect to make a purchase.
See MoreCustomer Relationship Management (CRM) is the management of interactions with potential and existing clients.
See MoreCall for Proposal is the process by which a company asks a vendor to offer them something.
See MoreThe churn rate is the percentage of customers who leave or terminate a license agreement.
See MoreA Closed Lost opportunity is when a deal is closed without converting the lead/prospect into a customer.
See More"Closed Opportunity" is a general term that describes both won and lost opportunities.
See MoreA Closed Won opportunity means a deal that has been successfully closed with the lead/prospect who is now considered as a customer.
See MoreA cold call is an attempt to address a potential customer by calling him personally, without letting him know the sales person or having had any previous contact with him.
See MoreA Cold Mail is an attempt to address a potential customer by e-mail without having had any previous contact with the prospect before.
See MoreCommission is a performance-related, variable component of a sales representative's salary.
See MoreCross-selling is when a customer purchases a further product/service from the same supplier in addition to the product/service initially purchased.
See MoreCustomer Acquisition Cost (CAC) is the amount a company has to spend to acquire a new paying customer for a product or service.
See MoreCustomer Relationship Management (CRM) is the management of interactions with potential and existing clients.
See MoreCustomer Success is a department/strategy that is often used in B2B sales to optimize customer relationships.
See MoreThis is a description for the situation a prospect has become unresponsive to calls, mails, invitations and so on.
See MoreDays to Term Sheet is the time from the first contact to a signed contract.
See MoreA Deal means a closed won opportunity that has been successfully signed with the lead/prospect who is now considered as a customer.
See MoreA deal at risk determined by the AI Guided Selling software is characterized by such a high-risk level that its probability of closing is greatly reduced.
See MoreDealcode is the leading training and guidance software to boost productivity and drive efficiency in B2B sales.
See MoreDeals to watch are the most important deals in the sales pipeline that salespeople should focus on.
See MoreA decision maker is someone who has the authority to finalize purchasing decisions on their own.
See MoreDiagnostic Analytics is the process of using data to explain why a particular event happens. It is the logical next step in data analysis following using descriptive analytics to identify trends.
See MoreDigital First as an approach or methodology offers a framework for how modern organizations need to adapt their operations with flexible, innovative technology in response to profound transformations across the digital landscape.
See MoreDigital Self-Service or self-service is broad term covering a variety of customer service tactics aimed at enabling users to independently resolves issues or answer questions through digital channels.
See MoreDigital selling is the ongoing process of leveraging digital channels to find, engage and connect with prospective buyers.
See MoreGhosting is the situation where a prospect has become unresponsive to calls, mails, invitations and so on.
See MoreHubSpot is a cloud-based CRM (Customer Relationship Management System). The goal of using HubSpot CRM in sales is to simplify the management of the sales pipeline and sell more efficiently.
See MoreIneffective deals refer to deals that take an above-average amount of time to close.
See MoreKey-Performance Indicators (KPIs) are critical (key) measure of progress towards an intended outcome or result.
See MoreMachine learning (ML) is a sub-field of artificial intelligence. It includes IT systems that use algorithms to analyse data and learn from it. The goal is to imitate human behaviour.
See MoreNatural Language Processing (NLP) refers to a branch of artificial intelligence (or AI) geared towards giving computers the ability to understand text and spoken words in much the same way as humans can.
See MorePipedrive is a cloud-based CRM (Customer Relationship Management System) from the SaaS company "Pipedrive". Pipedrive supports the entire sales process.
See MorePipeline health describes the aggregate status of all individual sales prospects in the sales pipeline determined through analysis of four key metrics.
See MorePredictive analytics (also predictive analysis) describes a method of analysis that uses new and historical machine learning data to predict future events and their probability of occurrence.
See MorePredictive analytics (also predictive analysis) describes a method of analysis that uses new and historical machine learning data to predict future events and their probability of occurrence.
See MorePrescriptive Analytics assist businesses in identifying the best course of action required to achieve organizational goals (e.g. cost reduction, profitability, increase in sales).
See MoreThe procurement department supports the entire company, as central main buyer of goods and services.
See MoreProduct Adoption is the process whereby users become aware of a product, understand its value, and begin to use it.
See MoreThe purchase department supports the entire company, as central main buyer of goods and services.
See MoreRemote selling, otherwise known as virutal selling, is the collection of processes and technologies by which salespeople engage with customer remotely with both synchronous and asynchronous communications.
See MoreRequest for Proposal is the process by which a company asks a vendor to offer them something.
See MoreResults Metrics refer to sales metrics or KPIs that focus on the output of your sales activities.
See MoreRevenue is the money generated from the sales of goods or services in normal business operations for a particular period, calculated as the average sales prices times the number of units sold.
See MoreThe risk level of a deal is a key figure calculated by the AI Guided Selling software that indicates the degree to which the closing of a deal is at risk.
See MoreSales is the process of selling a product/service for something in return, for instance money.
See MoreSales 4.0 refers to digitalised, automated and accelerated sales processes through intelligent technologies such as AI.
See MoreSales activity tracking refers to the process of monitoring and analyzing the different stages within your sales process with the aim of measuring the success of your current selling efforts as well as identifying areas in need of improvement.
See MoreThe Sales Cycle is the time from the first contact to a signed contract.
See MoreSDR's or BDR's are sales specialists focusing on generating new Leads/ Prospects.
See MoreA Sales Funnel, also called a “Purchase Funnel”, is used to describe the visual representation of the customer journey, depicting the sales process from awareness to action. It is a sales tool used to convert potential customers throughout various stages within the sales process. The funnel illustrates the idea that a sales process begins with a large number of potential customers and ends with a much smaller number of people who actually purchase the product.
See MoreSales Funnel Leakage refers to leads which “leak” or prospect drop out from your sales/marketing funnel or sales pipeline. In order to fix these “leaks” or reduce drop-off rates, business must take action to identify the root causes of Sales Funnel Leakage through Funnel Analysis.
See MoreTechnology that finds, analyzes and evaluates data on potential customers.
See MoreThe Sales Pipeline is a methodical approach to visualize revenues in the sales process.
See MoreA Sales Process is a step-by-step plan that details how salespeople convert leads into customers. It outlines each action sales reps should take and the order in which steps should follow.
See MoreA Sales Rep is someone whose job is to sell products/ services.
See MoreSmart Process Automation (SPA) is the logical next step in evolution of RPA (Robotic Process Automation) and employs cognitive bots which use AI and ML to perform increasingly complex cognitive tasks. SPA is particularly well suited for processing unstructured data.
See MoreSocial selling is the deliberate use of social networks as potential sales channels.
See MoreUI is short for user interface and describes the user interface of a product or service. The user interface includes all functions, operating elements and their appearance that are visible to the user.
See MoreUX is short for user experience and describes the user experience that results from interacting with a product, application or service.
See MoreUpselling is a selling technique where a seller tries to place an upgrade (e.g. new user) of an existing product/service to increase the average order value of a specific client.
See MoreVirtual selling, otherwise known as remote selling, is the collection of processes and technologies by which salespeople engage with customer remotely with both synchronous and asynchronous communications.
See MoreA Warm Call is a call to a potential customer who already has initial information about the product and/or the service offered through previous contacts
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