Proposal commercials
The proposal commercials tab manages the financial and legal aspects of the proposal.
Fees
The fees section provides a summary of the expenses, margin, adjustment and fees from the labour and non-labour expenses on the solution tab.
To make changes to these figures, update them in the solution tab.
Milestones
Milestones are used for fixed price engagements, when payment is tied to specific deliverables.
Use the +Add button to add a new milestone to a proposal or click on a milestone to update it.
Enter the details on the add milestone pop-up window.
Name
Give the milestone a meaningful name. This will be included in the client proposal document.
Value
Enter the value of the milestone. This amount will be invoiced when the milestone is completed on an engagement.
Due date
Enter the due date for the milestone.
Description
Enter a detailed description f the milestone.
Managing milestones on engagements
When a proposal is won and converted to an engagement, go to the engagement to manage the milestone:
- To link a deliverable to a milestone, go to the Plan tab of the engagement, open the deliverable and select the milestone from the dropdown.
- To mark the milestone status as complete, open the milestone and use the dropdown box to update the status to complete and select the completion date.
Automated Invoicing
- When a milestone status is updated to complete, advaise.app will seamlessly include it in the next invoice generated for the client or engagement.
- This automation streamlines your payment process and maintains financial organisation.
- The milestone status will automatically update when the invoice status is marked as "invoiced" or "paid."
- This ensures real-time tracking of payment progress.
With advaise.app, handling payment milestones becomes a breeze, allowing you to efficiently manage project finances while keeping a close eye on your payment milestones and invoicing status.
Rate card
It's important to have a well-defined rate card when creating client proposals. A rate card outlines the rate the client will be charged for roles on the proposal. advaise.app will populate the hourly cost rate for each role based on the information in the roles module.
Use the + Add button to add a new rate to a rate card or click on a role to update it.
Enter the details on the add rate pop-up window.
Role
Select a role from the dropdown. Only roles that have an approved status in the people module are available to add to the rate card. This ensures that the roles are standardised and consistent across all projects, making it easier to calculate costs and manage resources efficiently.
Margin
Assign a margin percentage to markup the role cost rate. Use a gross margin percentage that will result in a proposal that is both competitive and profitable. Leave this field blank to use the default margin percentage for your organization.
Fee notes
When creating a client proposal, it's important to include fee notes to provide transparency and clarity to your clients. Fee notes can help avoid confusion and misunderstandings and can also enhance your professional image.
Click the Edit button to update the fee notes.
Enter the details on the fee notes pop-up window
Currency
advaise.app will automatically populate the default currency of your organisation. Use the dropdown list if you have agreed to charge your client in a different currency. Currencies are managed in by your system administrator or organization owner in the organizations module, under the financials tab. A currency must be added to your organization and have an exchange rate against it to be able to select it for a proposal.
Taxes
Choose if your fee includes taxes applicable to your services.
Additional Information
Finally, you can also add additional information on the fees you are charging, such as payment terms, billing schedules, and any other details that your client should know. Including this information in your fee notes can help your client better understand the scope of your services and what they are paying for. These fee notes are included in the fees section of the client proposal.
Legal terms
When you're creating a proposal for a client, it's important to include legal terms. These terms help protect both you and your client, and ensure that everyone is on the same page about the scope of the project, the payment terms, and other important details.
You may use the download button to export an excel template that can be completed with your organization's standard terms. When the template is completed, use the upload button to import these standard terms into the proposal. Your organization will save substantial time by creating a standard legal terms excel file that can be imported for each client proposal.
Click the + Add button to manually enter legal terms.
Section Title
Provide a clear title for the section to help readers quickly identify what this section relates to.
Section Number
Enter a section number to clearly identify the terms. advaise.app will order sections based on this number. You can only enter whole numbers.
Proposed Terms
This is the legal term that will be included in the proposal
Originator
Enter the name of the organization proposing the term. This will either be your organization or the client. This is for your records and will only appear in advaise.app, it does not appear on the client proposal.
By taking the time to include these terms, you can avoid disputes, build trust with your client, and set the foundation for a successful project.
Updating Terms
There will inevitably be negotiation between the parties on the legal terms of the proposal. advaise.app enables you to amend the legal terms while keeping a record of the original proposed terms and the approval status of the proposed amendment.
Click on any legal term to open the update legal terms pop-up window.
It is better to keep the section number and section title unchanged if possible. Leave the proposed terms and originator unchanged as a record of the original proposed terms.
Update the legal terms
Amended terms
This section allows you to amend the terms in the client proposal document. Enter the updated legal term in the amended terms box. Update the status when the amendment is agreed or not agreed.
Comments
Use the comments box to summarize your discussion with the client. You can add any attachments for reference if required.
Status
The status of an amendment will default to "Under review". This can be updated to "Agreed" or "Not Agreed".
Note: Legal terms that have a status of Under Review will appear on the proposal document in Red. Please ensure these are reviewed and marked as Agreed or Not Agreed before sharing the proposal document with the client.
Attachments
You can add an attachment here if required. If an attachment already exists on this legal term, you can open the attachment from the list of legal terms, not from this screen. Attachments will not appear on the client proposal. This is an opportunity to provide evidence of the agreed amendments, for example an email from the client legal team.
Bulk updates
You can make bulk updates to legal terms by using the download button on the Legal Terms List to export your legal terms to an excel file. Use the Amended column in the file to record the requested amendment. This will maintaining a record of the original term. It enables reviewers to compare the proposed and amended term and record the status as "Under review", "Agreed" or "Not Agreed".
Now that the Commercials are completed, move on to the Response tab to review the client proposal document.