Key financial data (benefits and costs) and payback period should be entered in the financial sub-section.
When a Site is configured to use VDTs, this field is generated by the VDT built for the idea. Users cannot capture an idea’s annualized value. The annualized value is calculated by subtracting the baseline from the target figures.
Benefit Start Date:
This field dictates when the idea should start producing benefit, and is the date when the ‘Benefits Tracking’ function of the idea will be activated. If no start date is captured, this idea will not produce any benefits and will not reflect on the benefit reports.
If checked, benefits calculated by the idea VDT are treated as the benefits over a 12 month period (meaning if the benefits period is 2 years then the total benefit will be twice what the VDT calculates). If unchecked and benefit start and end dates have been set, benefits calculated by the idea VDT are treated as the benefits over the whole benefit period. Note that even if unchecked, if no benefit end date has been set then benefits calculated by the idea VDT will be treated as benefits over a 12 month period.
Idea Investments and Benefits:
We have added the ability to include once off benefits and investments to ideas. These values will be included in the new report type (Cash Benefits) added to the Cumulative Benefit Report. This report is tracked against benefit targets which is a new screen we have added under the Pipeline menu.
On the Idea Form, under the Investments section, you are able to add one or more Benefits or Investments to each section.
The following fields are available for adding an investment/benefit:
- Category: A dropdown list of the categories configured in the Investment Categories admin screen. This field is required.
- Target Date: The target date of the investment/benefit.
- Target Value: The target amount of the investment/benefit.
- Actual Date: The actual date of the investment/benefit.
- Actual Value: The actual value of the investment/benefit.
- Comments: This field allows you to enter a comment describing the item.
The system will display these amounts in the new Cash Benefits report type described in the Cumulative Benefits report section.
Once off cost vs. Investments:
Once off costs are only used to determine the payback period. The Investments values are included in the Cash Benefits report Under Cumulative Benefits Report.