Uptick offers a few simple tools to help you apply price increases to your Billing Contracts.
We offer three simple options when it comes to scheduling a price increase to your individual Billing Contract; setting up an automatic, annual, percentage increase on individual contracts, allowing contracts to be increased (%) using the bulk update tool or choosing not to allow the contract to increase at all and therefore being exempt from all increase tools.
How to apply and use our CPI Increase tool
When creating or editing a billing contract in your system, you'll be greeted with a Schedule Price Increase section that allows you to specify how this contract should receive schedule price increases. Your options are as follows:
1. No price increases - this contract does not receive CPI or any other scheduled rate increases.
2. Automatically, each year, by a fixed percentage.
3. Manually, in bulk, via Billing Contract list.
No price increase
This is the default option that is selected when you set up a new billing contract. This will mean that the contract can never have a CPI increase applied to it - it will not undergo any automatic updates nor will it increase in value if someone was to apply a bulk price increase to it via the billing contract list. This contract can only be updated if someone was to edit the pricing individually.
Automatic, scheduled price increase
You'll have two further options pop up if you select this option - a begin date and a percent. Once saved, Uptick will then automatically apply this percentage to the overall contract value annually from the begin date set. If you wanted to only start the increases in two years time, then the begin date should reflect the day, month and year in which the first increase should occur, the day and month will then dictate the date of the annual increase after that.
If you wish for the contract to change the percent applied each year or you just wish to review this automatic, scheduled increase, we suggest inputting the date in which you'd like to review the contract in the Review Date field, setting up a favourite on the billing contract list (Billing > Billing Contracts) using the filter 'Review Date' = 'This Month' and then adding that favourite to your dashboard (dashboard can be found in the side navigation bar) so you can keep track on which contracts need to be reviewed.
Add to Dashboard:
Applying a percentage based price increase in bulk, manually.
The system will only allow you to apply a bulk price increase to contracts where the selected contracts have had 'Manually, in bulk, via Billing Contract list.' selected as its Scheduled Price Increase option of choice. If you were to accidentally include contracts that don't have this option selected as its Scheduled Price Increase of choice, the system will just skip over them.
To manually bulk apply a percent increase, simply do the following:
1. Go to Billing > Billing Contracts. NOTE: You will not be able to apply this increase unless you have access to this page.
2. Use the filters on this page to filter down your billing contracts until you get to a selection of billing contracts you wish to apply a percent increase to, for example, filtering for only contracts for a particular client, property, or contracts that haven't had a price increase in over x years.
3. Use the bulk edit tool to select all billing contracts filtered and then add the percent you wish to increase these filtered contracts by and select Apply Changes.
NOTE: This might take several minutes to apply to those filtered contracts, however, it will be done in the background so no need to wait around. If you were to apply an increase when an increase has already been initiated, then the system will stop you from doing so.
Extra hints and tips
Sending notifications to clients
Uptick does not have a tool that will bulk email clients about an upcoming price increase, however, we offer a solution for you to do this yourself externally.
Simply go to Billing > Billing Contracts and filter down your list until you have all the contracts that will receive a price increase soon. Next, download the CSV, this CSV will contain all the accounting recipients for these contracts which you can now copy and paste into the BCC of an external email and send yourself.
Use the 'Next Price Increase = This Month' filter to add a favourite which can then be applied to your dashboard so you can see when upcoming price increases may occur.
Bulk applying a price increase option to your existing contracts
Use our Importer Tool to bulk update contracts with another Schedule Price Increase option. Simply go to your billing contract list (Billing > Billing Contracts), filter down the data you want to update, download the csv and then use this help article to learn how to use our Importer to bulk update data.
Filters and column that may be useful
When on your Billing > Billing Contract page, we offer a range of filters that can help you determine when price increases should occur. The following are filters and columns that may help you:
- We have a Last and Next Price Increase column that will show you exactly that, plus the percent in which it will increase or did increase by.
- We have a filter that allows you to filter contracts on which Scheduled Price Increase option has been selected on the contract and date range filters to find contracts that have an automatic price increase in a particular month coming up.
- The CSV download will also allow you to download all this information.