For most businesses, the change we’re about to introduce to Link2quotes will not make a difference. We understand that the majority of people quoting their products and services do so in one currency, but those who work with customers in multiple countries will enjoy this new feature.

We’re excited to announce that we will introduce multi-currency support in Link2quotes in the first week of April for those people. This will allow users to quote in one currency, even when their costs are in another.

In the past, we’ve adopted the “upcharge” feature to calculate a foreign exchange fee for our Canadian customers who are buying Act! products purchased in USD. This has worked for us for years, but described as “clunky” by those users looking to quote with accurate line item pricing.

To that end, we’ll be introducing new enhanced features to the product database that will allow users to apply the default exchange rate (see illustration to below to the right) or a custom one they choose on the fly (left image below). The prospect getting the quote will only see the line items priced in their currency, with no other “upcharges” in the quote that might require explaining.

* Please note, Link2quotes does NOT pull exchange rate data from external sources, so these will have to set and updated manually.

• if a product currency is not set, it will assume the price is in quote currency, no FX conversion will be applied
• if a product has multiple currencies, it will try to load pricing from the quote's matching currency
• if no matching currency is found, it will use the base currency and apply FX conversion from the quote currency

As you can see from the illustration below, the product selected has a base currency of USD and a price of $360. The quote currency is set to CAD, so when the product is added to the quote, the price is automatically converted to CAD based on the foreign exchange rate in the settings. This FX rate can be changed manually within the quote, and the pricing will be updated instantly to reflect the new rate.

And this is how it will appear in your quotes:

Batch Editing
Another bit of good news is implementing this new feature on your existing product list is a snap. Simply look up the product section, select all the products that need to have their base currency updated, and then select "Batch Edit" at the bottom. You'll be presented with a screen that allows you to apply a number of changes to the selected products, including the base currency. So for us, we simply looked up the product type "Act! Products" and in one mouse clicked converted the base currency of all of them to USD. 

Now, when those products are added to a CAD quote, the converted amount will automatically be calculated. What's more, when the foreign exchange rate changes, you can select all the quotes that need to be updated from your list, click "Batch Edit" again, and update them all at once to the new FX rate.

It's that simple. Watch the 20-minute webinar we recorded on March 29th below.

In the coming weeks, the following features to be added:

• Multi-currency reporting
• Importing that supports multi-currency

No exact timeline for these additional multi-currency features has been set, but they are ordered by priority. 

If you're lucky enough to be an Act! user and have not signed up for Link2quotes yet, please click HERE to start your two-week free trial.