This guide describes the Annuity enhancements included in Kimble Release Summer 18. We have also attached a .pdf version for your convenience.
In Kimble’s Summer 18 Release, Kimble has introduced two enhancements to Annuities functionality.
- Annuities can now be templated onto a Product, saving time and effort where you frequently sell annuities with particular attributes.
- The Proposal Modeller has also been enhanced, enabling you to add and amend Annuites through the Configure Element window. This makes it easier to accurately model an annuity during the pre-sales process.
Annuities are used to model recurring Revenues and/or recurring Costs on an Element where a continuous service is to be provided. The existing Kimble Annuities interface organizes all Cost and Revenue Periods on an Engagement into a single visual Gantt screen.
A Product Domain defines the characteristics of the Products based on it - revenue, cost, invoicing rules, and approval rules.
You will only be able to model Annuities on Elements that are based on Products with specific Revenue Generation models; these Revenue Generation models are determined by the Product Domain.
- Fixed Amount Per Period (Period Generated) – Annuity with fixed Revenue and Cost Rate
- Fixed Amount Per Unit Per Period (Period and Unit Generated) – Annuity with fixed Revenue and Cost Rate per Unit.
A Product determines the behavior of any Elements based on it – this can include templates that determine Milestones, Assignments, or Annuities that get automatically created when one of those Elements is created.
Templating an Annuity on a Product
In Kimble’s Summer 18 Release it is now possible to template an Annuity onto an Annuity-based Product, much as you have been able to template Activity Assignments or Milestones onto Products.
Once the Annuity Template is set up on a Product, the Annuity is automatically created whenever you create an Element based on that Product.
|Only Forward Annuities, which generate Periods from the Start Date can be templated onto a Product.|
The Annuity Template Behaviour Rule of a Product determines whether templated Annuities will be created on new Change Orders, or when changing the Product on an Element.
- If left null, the template will be automatically applied to all Elements.
- If set to Never apply templates, the template will not be applied to Elements created from a Change Order, or when changing the Product of an existing Element.
To Template an Annuity onto a Product:
1. Navigate to an Annuity-based Product.
2. Click Annuity Templates.
3. Click New Annuity Template.
4. Enter the Annuity details.
5. Click .
The Annuity Template is set. Click Edit to amends, or Del to delete.
Creating Annuities in Proposal Modeller
In Summer 18 Annuities can now be created and amended in the Proposal Modeler, making it simple for an accurate Annuity to be modeled during the pre-sales period.
To model an Annuity on the Proposal Modeler:
1. Navigate to the Proposal Scope
2. Open the Element Burger Menu.
3. Click Configure Element.
If you are configuring an Annuity-based Element, the Edit Delivery Element window displays only one tab – Annuities.
4. Click AddAnnuity.
5. Enter the Annuity details.
6. Click .
The Annuity has been created. Follow the same steps to edit the Annuity, or to add additional Annuities. Click to delete a modelled Annuity.