Managing Proposal Information

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A Proposal is a plan a firm intends to bid on to bring over a new business for an Opportunity. The Proposals Details screen tracks general information attributed to a proposal that can be converted to a plan if the Proposal is won.

 

Add-On Availability: SalesPitch

Security Right Required: Access SalesPitch

 

The Proposal screen is divided into the General, Services, Investments, Fees, People, To-Dos, Files, Interactions, and Notes menus. Below is a description for each of these menus and the information that can be found in each.

 

Article Contents

 

 

 

General

 

The General Information grid displays general information about a proposal. 

 

Add/Edit/Delete: 

Proposals can be added multiple ways in PensionPro.

    1. If an Opportunity has already been created, click the Add icon on the Proposals menu located within the Opportunity.
    2. Complete all required fields as noted at the bottom of the slider and click Save. 
  • Create a Proposal from the Data Menu:
    1. Click Add Data > Proposal.
    2. When the Add Proposal pop-up appears, begin typing a current Opportunity name in the Opportunity field and select it from the dropdown that appears.
    3. Enter a Proposal Name, select a Status and select a Plan Type.
    4. Enter any other supporting information for the Proposal using the fields available.
    5. Click Save.
  • Create a Proposal from the Opportunity:
    1. From the Opportunity > Proposals menu, click the Add icon located in the upper right corner of the grid.
    2. Enter a Proposal Name, select a Status and select a Plan Type.
    3. Enter any other supporting information for the Proposal using the fields available.
    4. Click Save.

 

To Edit a Proposal, hover over the Proposal from the Proposals menu of the Opportunity and click the Edit icon or single click the Proposal > click the More icon > and click Edit. Update the information and click Save. 

 

To Delete a Proposal, hover over the Proposal from the Proposals menu of the Opportunity and click the Delete icon or single click the Proposal > click the More icon > and click Delete. Confirm the request to delete the Proposal by clicking Yes.

 

To open a Proposal, simply double-click the Proposal from the Proposals grid.

 

Fields Displayed:

  • Name: This is a required text field used to distinguish this proposal from all others. Enter the name of the proposal here.
  • Status: This is a dropdown list that pulls from the Proposal Status List Value. Select the status of the proposal to identify the progress of the proposal from creation through closing.
  • Date Proposed: This is a date field used to track the preparation of the proposal. 
  • Service Authorization Sent On: This is a date field used for tracking and follow-ups. The date the proposal was sent to the Prospect or their referral should be entered here.
  • Reason Won\Lost: This is a dropdown list being pulled from the Proposal Result Reason List Value. Enter the reason that the proposal was won or lost in order to identify the reason why new business was won or lost.
  • Probability of Closing: This is a numeric field used to enter the probability of closing the proposal. The system will pre-populate this based on the Proposal status list value if available. This field is also used to calculate the probable revenue on the scoreboard based on the potential revenue provided.
  • Assigned To: This field is a dropdown list being pulled from the Employee List. Select the employee that the proposal is assigned to.
  • Closed On: This is a date field used to show the data that the proposal was closed on. When a date is entered in this field, the proposal will no longer be viewable on the scoreboard. Closed Proposals can still be located by using the Search feature in PensionPro. Include closed Proposals during your search to return closed proposals.

 

 

Services

 

The Proposal > Services menu shows what services are proposed in the Proposal.

 

Add/Edit/Delete:

To Add a service, click the Add icon in the upper right corner of the grid. Enter the required information as referenced in the pop-up and click Save.

 

To Edit an existing service, hover over the service in the grid and click the Edit icon or single click the Service > click the More icon > and click Edit. Modify the record and click Save.  

 

To Delete a service, hover over the service in the grid and click the Delete icon or single click the Service > click the More icon > and click Delete. Confirm deletion by clicking Yes.

 

Fields Displayed:

  • Service: This is a dropdown list being pulled from the Proposal Services Proposed List Value. Enter the service that is provided regarding the proposal. This field can be used to identify what specific services are included in the proposal.
  • Description: This is a text field used to describe the services proposed. Enter a description to better describe the services that are provided to the proposal.

 

 

Investments

 

The Proposal > Investments menu provides the investment(s) selected in this Proposal. 

 

Add\Edit\Delete:

To Add an Investment Provider, click the Add icon in the upper right corner of the grid. Enter the required information as referenced in the Add Investment Provider pop-up and click Save.

 

To Edit an existing Investment Provider, hover over the Investment Provider in the grid and click the Edit icon or single click the Provider > click the More icon > and click Edit. Modify the record and click Save.

 

To Delete an Investment Provider, hover over it in the grid and click the Delete icon or single click the Provider > click the More icon > and click Delete. Confirm deletion by clicking Yes.

 

Fields Displayed:

  • Provider: This required field is a dropdown list being pulled from the Plan Provider List Value. Select the name of the investment provider which is used to identify the name of the investment provider for this proposal. This is the investment firm where assets will be held for the plan. This information will populate the Investment Provider information on the Plan Level when the case is closed and converted.
  • Investment Model: This field is a dropdown list being pulled from the Investment Type List Value. Choose the type of investment which is used to identify the type of investments that will be used for the proposal. This information will populate the Investment information on the Plan Level when the case is closed and converted.
  • Custodian: This field is a dropdown list being pulled from the Investment Custodian List Value. Choose the custodian of the investment which is used to identify the custodian of assets that will be used for the proposal.
  • Direction: This field is a dropdown list being pulled from the Investment Direction List Value. Choose the direction of the investment which is used to identify the investment direction for the assets that will be used for the proposal. This information will populate the Investment information on the Plan Level when the case is closed and converted.
  • Current Assets: This numeric field is where the current assets for the investment will be entered. This field is used to identify the total assets transferring to the new investments for fee and recordkeeping.
    Annual Flo: This numeric field is where the annual flow of the investment is entered. This field is used to identify the estimated net annual additions to the proposal.
  • Basis Points: This numeric field is where the amount basis points for the investment that will be received in fees reimbursements or charged for asset management are entered. This field is used to estimate potential revenue earned on the assets.
  • Participant: This numeric field is where the participant count for the proposal is entered. This field is used to estimate potential revenue based on participants.

 

 

Fees

 

The Proposal > Fees menu provides general information on fee schedules associated with this proposal. 

 

Add\Edit\Delete: 

To Add a Fee Schedule, click the Add icon in the upper right corner of the grid. Select the Fee Schedule Template from the dropdown and save. 

 

To Edit a Fee Schedule, hover over the Fee Schedule and click the Edit icon or single click the Fee > click the More icon > and click Edit. Update the information and click Save. 

 

To Delete, hover over the Fee Schedule and click the Delete icon or single click the Fee > click the More icon > and click Delete. Confirm the request to delete the Fee Schedule by clicking Yes.

 

Fields Displayed:

  • Name: This field is a dropdown list being pulled from the available Fee Schedule Templates. Enter any applicable fee schedules for this plan.
  • Description: This text field further describes the fee schedule or notations concerning it. 

 

 

People

 

The Proposal > People menu provides the names of contacts associated with this Proposal.

 

Add\Edit\Delete:

To Add an association of an existing Contact record to the Proposal, click the Add icon in the upper right corner of the grid. Enter the Contact's Name and select it when it displays to populate the field. Then select a Sales Contact Role from the Role dropdown for the Contact and enter a description further defining their relationship to the Proposal, if applicable. Click Save.

 

To Edit an existing Contact's association, hover over the contact's name and click the Edit icon or single click the Contact > click the More icon > and click Edit. Modify the record and click Save. Double-clicking the contact opens the contact record where edits can also be made.

 

To Delete a Contact’s association with this Proposal, hover over the contact's name and click the Delete icon or single click the Contact > click the More icon > and click Delete. Click Yes to confirm deletion.

 

Fields Displayed:

  • Name: This field is a text field that pulls from the list of active Contacts. Enter the first few letters of the Contact's name and a selectable list of Contact Names will appear to choose the correct Contact. This field reflects the full name of the Contact that fulfills a contact role for the Proposal.
  • Role: This field is a dropdown list that pulls from the Proposal Sales Contact Role List Value. Select the Role of the Contact for the Proposal to represent the Sales Contact Role for the Contact. It is selected when the Contact was associated with the Proposal.
  • Main Contact: This checkbox indicates if the Proposal Contact Role is the Main Contact for the Proposal. Check the box if the contact is the Main Contact for the Proposal.

 

 

To-Dos

 

The Proposal > To-Dos menu provides general information about all To-Dos associated with this Proposal. To-Dos are not included in the Track Tier.

 

To find more information on To-Dos and to view a training video on To-Dos, please review the Using To-Dos article.

 

 

Files

 

The Proposal > Files menu displays the files associated with a Proposal.

 

  • To add a File, click the Add icon in the upper right corner of the Files grid. Complete all required fields as noted at the bottom of the slider and click Save. 
  • To edit, hover over the File from the Files grid of the Prospect and click the Edit icon or single click the File > click the More icon > and click Edit. Update the information and click Save.
  • To delete, hover over the File from the Files grid of the Prospect and click the Delete icon or single click the File > click the More icon > and click Delete. Confirm your request to delete the File.
  • To archive, hover over the file and click the Edit icon. At the bottom of the pop-up, check the Archived checkbox. The File will move the Archived Files Grid. Another way to archive the file is to single click the File > click the More icon > and click Archive.

 

Users can access archived files by clicking the More icon > Show Archived. Users can edit an archived file and change the archived status to bring the file back to the regular grid to view.

  • Users can download files from the grid by double-clicking the file or by hovering over the file and clicking the More icon > Download.

 

Fields Displayed:

  • Type: This dropdown list pulls from Proposal File Type List Value. Here, the file type can be selected and used to describe the Type of file added.
  • Title: This text field is used to enter the title of the file.
  • Description: This field is used to add an additional description of the file for reference.
  • Created On: This date field pulls from the date the user added the file.

 

 

Interactions

 

The Proposal > Interaction menu provides general information about all Interactions associated with this Proposal. Interactions are not included in the Track Tier.

 

To find more information on Interactions, please review the Using Interactions article.

 

 

Notes

 

The Proposal > Notes menu provides general information about all notes associated with this Proposal.

 

For more information on Notes, please refer to the Using and Maintaining Notes article.

 

 

Frequently Asked Questions

 

  • Can closed Proposals be reopened?
    Closed Proposals can be reopened. Start by including closed proposals in your search results. Search for the Proposal. Double-click the Proposal from the Search results. On the General Information screen, click the Edit icon. Remove the Closed On date and click Save.