Savings
The Savings Summary in Ryan.com is where Ryan team members can enter real-time savings data for the clients to view. Savings are defined by four stages: potential, submitted, approved, or received savings. There can only be one Savings entry per date, and once saved only the last entry can be edited. Clients cannot enter or edit savings data.
The Savings Summary Overview page is a combination of savings data for all projects under the selected account, both for projects managed in Ryan.com and for projects that had been managed outside of Ryan.com. From this page, users can get a high-level overview of how much money, in various currencies, Ryan has saved on the account.
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Real Time Data
It is the goal of Ryan.com to give clients access to as close to real-time data as possible. This is especially important when it comes to Savings data. It is a best practice to update savings data for your projects within 24 hours of changes to ensure our clients have the most up-to-date information.
Savings Categories
As a Ryan user, you can create savings categories (the individual rows of your savings data) to match your specific project’s needs. Saving category names are completely customizable and can be placed in any order to make the savings data read easily for anyone who is trying to analyze it. A Ryan user can create as many savings categories as they wish, and categories can also be deleted. However, if a category that has prior savings amount in it is deleted, all savings amount in that category will be shown as “dropped”.
**ADD ATTACHING A FILE** Feature not developed yet but will be
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Savings Flow
When entering Savings Summary data, it is important to know how the money is supposed to be moved. Now that clients have visibility into this data, we want to be as detailed as possible so that they know exactly what happened with their savings amounts.
The four columns, or savings stages, we use in the Savings Summary are Potential, Submitted, Approved, and Received. Ideally, all savings for a project will start out in the Potential column and progress through each stage until the savings are realized by the client and moved to the Received column. Ryan users can add new savings to any stage, progress savings to other stages, and drop savings from each stage. When you move savings from one column to another, you can only move them to a column to the right of the current column. For example, a user can only move amounts from Submitted to Approved, not backwards from Approved to Submitted. When savings are “dropped”, the dropped amount will be removed from the column selected and it will be treated as though Ryan is no longer pursuing those savings for the client.
The different actions a Ryan user can do when it comes to entering savings include Adding, Dropping, and Moving Out/In savings amounts. When savings are first discovered, the user should “add” those savings to whichever column is most appropriate. When savings are no longer being pursued by Ryan, those amounts should be “dropped”. When savings amounts that were previously entered/tracked are submitted, approved, or received, they should be “moved” out from the current column to the appropriate column.
Ryan users will be able to enter Update Notes for each Savings entry to give their clients further insight into why savings amounts changed.
Baseline Premise **FAQ*
Since there will be ongoing projects when the Ryan.com Client Platform launches for each client, we have created the option of a “baseline” tag for the first Savings entry on each project. This tag should be used when savings amounts have already been tracked for a project prior to being in Ryan.com.
Ryan team members should use the baseline toggle to create a cumulative starting point to show the savings identified on your project before it was managed in the platform. On the Savings History page, the baseline entry will be denoted so the client knows that the savings in this entry do not necessarily relate to that single date, but is a combination of past savings amounts. After the baseline savings entry has been entered, all future savings entries should be entered as new savings information becomes available to the Ryan team. If a project has no savings prior to being managed in Ryan.com, there is no need to use the baseline tag.
**ADD PRE-DXP SAVINGS**TO BE UPDATED ONCE DEVELOPED
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Savings History
A quick glance at all your project’s savings entries. Ryan and Client users can view this page, you can look at changes over a customized time period and drilldown into the money movement from here.
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PropertyPoint – Savings
Savings information can be automatically fed to the platform for Property Tax teams using PropertyPoint to manage Client savings data. Various use cases have been reviewed and determinations made for how savings will be categorized in the platform. Automatically fed savings will use the Potential and Received stages in DXP. While there are multiple use cases, the most important to know is that estimated tax savings entered on any Open Appeal in PropertyPoint will feed the Potential category, while tax savings entered on a Closed Appeal will feed the Received category.
New functionality will be available in PropertyPoint allowing teams to turn on a ‘Ready to Sync with ryan.com’ toggle. Once this has been toggled on, baseline savings will be sent to DXP. For all companies that have started to sync with ryan.com, a summary of savings data will be fed from PropertyPoint to DXP each evening. All PropertyPoint savings data will appear as one category in the platform.
If a Ryan user currently adds savings data to the monthly Summary of Savings for a Client, they will need to confirm with the Client Principal if savings should continue to be entered manually in the platform as described above, or if they are able to transition to automatically fed savings from PropertyPoint.
*Ready to Sync with ryan.com checklist*