What Is The Budget Feature?

The "Budget" tab inside of a Project is used for high-level budgeting purposes. The goal is to align the service provider and the client on budget before you start picking out products and identifying the look and feel.

How It Works:

There are many pre-defined spaces already loaded into FOLIO for each of the six vertical markets.

Each space has a pre-defined set of items - like a conference table and conference chairs inside a conference room space - that are priced with a good/better/best pricing model. The items are priced with broad averages across industries and manufacturers.

Once you add a space to a project, you have the ability to modify the good/better/best pricing on the items inside the space, add more items from our pre-defined item pool, and remove items from spaces if they don't apply.

Recent Enhancements and Advanced Use:

The budget is now split into two sections to make it easier to manage products and services separately.

Products and tangible things are in the "Spaces" section at the top of the budget. Services like installation, freight, design, and more are in their own section.

The budget can be exported to a formula-driven Excel file.

A Member or Admin is able to apply a bulk discount or bulk increase to the "spaces and items" on a project. This was added to help prepare for future price increases on long-lead-time-projects or projects in a vertical market with contract pricing.

To make consolidation of information easier, any user on a project can leave comments on an individual space in the budget.

If you have questions about this feature or wish to request an enhancement, please reach out to us at customercare@foliosi.com