How do I create a Rate Card and/or add Individual Timekeepers in a Rate Review Pro proposal?

PERSUIT's Rate Review Pro allows you to build specific Rate Cards through dedicated functionality in your proposals.

You'll find the Rates section in the drafting screen within your proposal.

In this section, you'll see a few things:

• Instructions and Assumptions from the Client
  1. Location & Currencies Instructions and Assumptions
  2. Practice Area Instructions and Assumptions
• Rate Cards Tab
  1. Filters
  2. Timekeeper Table
  3. Assumptions and Description Text Box
• Individual Timekeepers Tab
• + Add Rate Card

Instructions and Assumptions from the Client

This section holds the instructions, asks and requirements laid out by the client for the Locations & Currencies and Practice Area fields regarding the timekeepers they wish to collect rates for. Each part has a down arrow for you to expand and find the instructions related to their fields. 

Rate Cards Tab

After the Instructions from the Client, you'll find the Rate Cards tab. You can build multiple rate cards within one proposal. Each rate card you build will have three main sections to be filled out. 

1. Filters - There are four main filters that are mandatory for you to fill out with each rate card. These filters help you specify where these timekeepers can perform services and which services they provide. You can view this article for a full list of practice areas within the Practice Area filter.

• • • Country 
    • State or City
    • Currency
    • Practice Area

Filter Note #1: If you would like to submit a rate card on behalf of one whole country, you first would need to select the chosen country within the Country dropdown, and then you would need to select the "All of (Country)" option within the State/City dropdown. 

Filter Note #2: Depending on what the client has enabled, you may or may not be able to add your own additional practice areas to the rate card. The client may choose to limit the practice area selection to their own definitions. 

2. Timekeeper Table - The Timekeeper table is where you can list the relevant rates for the timekeepers you have available for the specific rate card you're building. You'll find seven columns within this table.

1. Timekeeper Title - The timekeepers the client is requesting rates for. 
2. Last Year's Hours (Optional) - If last year's hours are applicable, then collecting those hours provides the ability to calculate ‘Weighted Average Change’ and ‘Spend Impact’.
3. Current Rate (Optional) - The current rate represents the rate that is currently agreed between you and the client. This is optional because there may be no prior agreed rate between the client and your firm.
4. New Standard Rate - This is the ‘market rate’ / ‘rack rate’ that you use for the relevant term of the specific Rate Negotiation. 
5. Proposed Rate - The proposed rate is the rate the firm is offering to the client. Ultimately, this is the rate that will come into effect when the rates are agreed upon. 
6. Discount from Standard - An automated calculation of the discount between the proposed rates from the new standard rates.
7. Change from Last Year - An automated calculation of the change from last year's current rates from the proposed rates. 

In the Timekeeper Title column, you can opt out of proposing rates for a requested timekeeper title by using the toggle to the left of their title. You'll know it's been toggled off successfully when the toggle is gray and the relevant text boxes in the following columns are also gray and inaccessible.

If you find that Current Rate and Last Year's Hours are not applicable for this situation, you can turn each option off by checking the box found directly above the Timekeeper table.

3. Assumptions and Description Text Box - This text box is where you can detail any assumptions you might have related to this specific rate card.

Individual Timekeepers Tab

The Individual Timekeepers tab can be found next to the Rates tab near the top of the Rates section of your proposal. 

Note: Firms will only be able to find the Individual Timekeepers tab if the client has enabled this option. 

You’ll find the additional Timekeeper ID instructions underneath the tab title using the down arrow to expand the information. This is where you can list the specific timekeepers that will work on this account. 

Note: Firms can copy their timekeeper entries from spreadsheets and paste them directly in the Individual Timekeepers table which can speed up their submission process. Copy & Paste is not currently available for the blended timekeeper table found in the Rates tab of the Rates section.

+ Add Rate Card

This button allows you to add multiple rate cards within your proposal. There is currently no limit to the amount of rates cards you can create in your proposal.

You can also easily duplicate any rate card you have already created to save time in adding a rate card that may use the same rates. This can be done by first clicking the three dots on the right side of a rate card to expand the available options, then clicking the Duplicate button.

The duplicated rate card will immediately appear underneath the original rate card. 

For more information on how to begin the process and create a full proposal for a Rate Review Pro request, please view this article here.