Engagements in Karbon are the cornerstone of your client service delivery. They act as a formal agreement that defines the scope of services, billing terms, and conditions for the work your firm performs for its clients. By centralizing these critical elements, Engagements provide clarity for both your firm and your clients, ensuring a consistent and professional experience.
Key Components of an Engagement
Each Engagement in Karbon is comprised of several integrated components designed to manage the entire client service lifecycle:
Services: Engagements draw directly from your Service Library, allowing you to quickly add predefined services with their associated default billing and work settings.
Billing: You can set specific Billing Frequencies (e.g., Monthly, Weekly) and define Fee Types (Fixed Fee or Time & Materials) for each service within an engagement, ensuring transparent and predictable invoicing.
Agreement Text: Include your firm's comprehensive terms and conditions, scope of work, and any disclaimers directly within the engagement document.
Acceptance Process: Karbon provides flexible options for client acceptance, allowing you to Send to client for acceptance for digital signatures or Accept on behalf if terms have been agreed upon externally. You can also specify multiple Signatories.
Work Linking: Engagements seamlessly link to your Work Items in Karbon. This ensures that the actual work performed, time tracking, and progress directly align with the services outlined in the client agreement.
Automated Invoicing: Once linked and active, Engagements power automated, recurring invoices based on the defined billing schedule, which appear in Billing Runs.
Benefits of Using Engagements in Karbon
Implementing Engagements in your Karbon workflow offers numerous advantages for your firm and clients:
Clarity and Transparency: Provide clients with a clear understanding of services, fees, and terms upfront, fostering trust and reducing misunderstandings.
Predictable Revenue: Automate recurring billing based on defined engagement terms, leading to more predictable cash flow.
Streamlined Operations: Connect services, work, and billing in one place, minimizing manual effort and reducing administrative burden.
Improved Workflow Efficiency: Ensure that work performed by your team directly corresponds to agreed-upon client services and billing arrangements.
Enhanced Client Experience: Offer a professional and consistent experience from engagement setup through to ongoing service delivery and invoicing.
Reduced Scope Creep: Clearly defined terms help manage client expectations and prevent unauthorized work.
Engagements is currently in Early Access. If you're interested in learning more, we encourage you to reach out to your Customer Success Manager.
Helpful Next Steps:
Create and Map Service Types in Karbon: Set up your foundational service categories, which are essential building blocks for engagements.
Building Your First Service in the Service Library: Learn to build individual services that you'll include in your engagements.
Configure Billing Frequency and Fee Types for Services: Understand specific billing configurations for services to ensure accurate invoicing within engagements.
Build and Send Your First Karbon Engagement: Get step-by-step instructions on how to create and send your initial engagement.
Frequently Asked Questions: Engagements in Karbon: Find answers to common questions and troubleshooting tips related to engagements.