trueRATE 2.0: Overview

• Ensures accurate billing calculations for your extended workforce.
• Automates rate calculations based on predefined markups and rate components.
• Accurate rate calculation helps your organization Adhere to legislative, Supplier-driven and Client-specific rate requirements.
• Simplifies setting up rate calculations.
• Manually set up formula component values and/or import formula component values.
• Eliminates the need to manage bill rates outside Enterprise using spreadsheets or other inconvenient methods.
• Enhances Beeline’s Pay to Bill and Bill to Pay models.
• Gain transparency and complete visibility into every variable that makes up a bill rate, so you’ll never wonder how the system calculated the final numbers on your invoices.
• Configure and restrict negotiated component values by role and threshold.
• Gather analytics on rates and rate variables applied to invoices processed through Enterprise.
• Get visibility into the rate calculation details with reports.

Includes an easy-to-use formula builder, with an experience similar to Report Builder, the delivers efficient, intuitive rate calculations for individual formula components and the overall trueRATE formula.

Set up formula component values against multiple drivers including:

A minimum of one driver is required; however, a combination of drivers can be associated.

Formula components with a value type support up to four decimal places. Formula components with a percentage type support two decimal places.

For example, a formula component of 0.0522% is equivalent to a 0.000522 decimal value. That value is rounded up to 4 decimal places which produces 0.0005. That decimal value displays as 0.05% in the UI.

Rate requirements vary by country and locale, and some regulations necessitate that contingent worker rates be adjusted based on the elapsed time of an assignment. Here are some examples of when you might need to adjust rates based on the elapsed time of an assignment.

• Your organization might have contingent workers on assignments who are protected by the rights and benefits of their union contracts. You might need to adjust the pay rate and/or Supplier markup based on the number of days, weeks, or months a contingent worker has completed on an assignment.
• You might have contracts that require you to reduce the Supplier markup on an assignment after a contingent worker has been on an assignment for a specific period outlined in the contract. For example, you might have a contract that requires you to reduce the Supplier markup by 15% after a contingent worker completes 6 weeks on an assignment.
• Or you could have collective bargaining agreements (CBAs) driven by the Federation of German Trade Unions (Deutscher Gewerkschaftsbund—GDB) that regulate the terms and conditions of employees in their workplace, their duties and the duties of the employer. You need to adjust rates and ensure that contingent workers are paid the correct rates driven by the CBA conditions.

If your organization does business in multiple international locations, you can set up trueRATE to ensure rates are adjusted and correctly calculated. Budget amounts with dual rates are also correctly estimated and calculated in Enterprise.

In some scenarios, ensuring that maximum and/or minimum compensation thresholds are not exceeded is required by your business processes or by regulations of the country in which you do business. You can set up trueRATE with minimum and maximum threshold values for any rate component driver.

Plus, ensure the threshold only applies to specified drivers by associating an Apply Threshold flag to the driver.

Using the minimum and maximum thresholds ensures that varying drivers on a rate component are validated and that calculated rates that exceed the maximum thresholds for compound rates are excluded. When a calculated rate exceeds the maximum threshold for a driver, the calculated rate defaults to the maximum value set up for the driver.

For example, rates for contingent workers in Singapore include several components with minimum and/or maximum compensation thresholds and vary based on several criteria. Rates for workers who are Singaporeans or permanent residents in Singapore are different from rates for foreign workers.

If your organization is doing business in Singapore, you must include these components along with the worker’s pay rate:

• Central Provident Fund (CPF), which is a compulsory comprehensive savings plan, paid for Singaporeans and permanent residents. CPF percentages contributed to a worker vary based on the worker’s age and total monthly wage. The CPF contributed to a worker has minimum and maximum compensation values determined by the worker’s age and total monthly wage.
• Foreign Worker Levy (FWL), which is a pricing mechanism to regulate the number of foreign workers in Singapore. A monthly levy is paid for foreign workers in lieu of CPF.
• Skills Development Levy (SDL), which is a compulsory levy for all your workers employed in Singapore, paid in addition to CPF or FWL. The SDL contributed to a worker varies based on the worker’s total monthly wage. The SDL contributed to a worker has minimum and maximum compensation values determined by the worker’s total monthly wage.

You can set up component drivers with minimum and maximum thresholds to ensure rates are correctly calculated for workers in Singapore.

In some scenarios, ensuring that maximum and/or minimum rate thresholds are not exceeded is required by your business processes or by regulations of the country in which you do business. Using minimum and maximum thresholds ensures that the calculated rate component for a specific driver cannot fall below the minimum nor exceed the maximum.

You can set up trueRATE with minimum and maximum threshold values for each rate component and specify by driver whether the threshold applies. You can specify whether a threshold applies to all drivers or to specific drivers only.

Control which drivers are included or excluded from minimum and maximum thresholds when pay and bill rates are calculated using the Apply Threshold flag. Select the Apply Threshold flag to apply a threshold to a drive or leave the flag unticked to exclude the driver from a threshold. When a calculated rate falls below the minimum threshold or exceeds the maximum threshold, the component value defaults to the threshold value ensuring bill rates are accurate.

For example, assume you’ve defined a minimum threshold value of $3.00 and maximum threshold value of $15.00 for a Supplier’s markup. However, those minimum and maximum thresholds do not apply to the Information Technology Job Class nor to New York City as the Physical Work Location.

Job Class and Physical Work Location are drivers connected to a rate component. You can control per driver whether the driver is included or excluded from a threshold when a rate is calculated.

If you’re providing your COM with a file to import drivers, a new Apply Threshold column is included in the import template. If you want to apply rate component thresholds to a specific driver, enter YES in the Apply Threshold column. If you want to exclude a specific driver from a rate component threshold, enter NO in the Apply Threshold column.

Expire existing trueRATE drivers values to support any legislative or client driven rate component changes. To expire existing driver values, populate these fields in the Calculation Component Value Import, and then subsequently import new values into Enterprise.

• Start Date
• Expiry Date
• Driver ID
• Value
• Drivers

The preceding data is used to determine if a set of driver values already exists. When an expiry date is included and the current value doesn’t have an expiry date, the expiry date on the current driver value is automatically updated with the date provided.

Your organization might always negotiate the Supplier fee, but you never pay less than or more than specific monetary values determined by your business processes or by regulations of the country in which you do business. You can set minimum and maximum values used to validate the component rates entered in trueRATE, and restrict values by role and by thresholds.

A message displays to the user when the rate they are negotiating falls below the minimum value set up in Enterprise. An additional message displays to the user when the rate they are negotiating exceeds the maximum value set up in Enterprise.

Rate card markup can be used as a data element with configured formula components.

When rates are calculated, trueRATE determines whether the markup is a percentage or monetary value. When the markup is a percentage, the markup percentage is multiplied by the rate to produce a fixed value in the formula. So that markup is treated as a fixed value, whether the rate card markup is percentage or monetary based.

Rate calculation details are visible to all users (Hiring Managers, MSPs, Program Office users and Suppliers) from the Request and Assignment Rate Card pages. Details include: the trueRATE formula, the values associated with the formula, calculated values, and driver values for all formula components.

Plus, rate calculation details are available from these reports: Request, Assignment and Financial Definitions.