Milestones split a savings initiative into smaller periods, each with its own baseline spend and projected savings, so you can track and realise savings over time. You'll find them on the Milestones tab of any savings record.
Before you start
How milestones work
Every savings initiative has at least one milestone. The amounts you see on the savings record, such as Total Baseline Spend and Total Projected Savings, are the totals of its milestones, and the saving's start and due dates come from its first and last milestones.
A milestone's savings stay projected until you mark it as complete. Then its realised cost reduction and avoidance count as realised savings.
Create milestones
You build milestones on the Milestone Builder step when you create a savings initiative. Choose one of two builders:
Builder | How it works |
Automated Milestone Builder | Enter Savings Start Date, Frequency of Milestone (Monthly, Quarterly, Bi-Annually or Annually), Number of Milestones (1 to 60), Total Baseline Spend, Projected Cost Reduction (across all milestones) and Projected Cost Avoidance (across all milestones). oboloo names them Milestone 1, Milestone 2 and so on, starts each one a period after the last, and splits the amounts evenly. You can change any of them on the next step. |
Custom Milestone Builder | Choose the Number of Milestones, then enter each milestone's name, dates, baseline spend and projected cost reduction and avoidance yourself. Use this for irregular periods or uneven amounts. |
To add a milestone to an existing saving, open its Milestones tab and click Add Milestone (Savings Plus). See Adding a New Savings Initiative for the full creation steps.
What's on the Milestones tab
The table shows Milestone Name, Start Date, Due Date, Baseline Spend, Total Projected Savings, Total Realised Savings, Status and Action. Use Edit Columns to add others, such as the cost reduction and avoidance columns, Approved By and Approved Date.
A milestone's Status is In Progress, Pending Approval, Rejected or Completed.
What you can do from here
To… | Do this | Guide |
Change a milestone's dates or amounts | Action menu (⋮) > Edit, then Update Milestone | |
Realise a milestone's savings | Action menu > Mark as Complete, then Confirm Milestone Completion | |
Correct realised savings on a completed milestone | Action menu > Edit Realised Savings | |
Have a milestone checked before it's realised | Turn on Does this milestone need to be approved? when you mark it as complete | |
Change a milestone's exchange rate | Action menu > Edit, then Exchange Rate Against Base Currency | |
Report on milestones across all savings | Go to Savings Management > Milestone Reporting |
Milestone approvals
When you mark a milestone as complete, you can choose an approver. The milestone shows Pending Approval until the approver uses Approve/Reject in the Action menu. Until it's approved, its savings stay projected. For the full process, see Approving Savings Milestones.
Common questions
I see Upgrade to Savings Plus when I choose more than one milestone
Multiple milestones need the Savings Plus plan. See What's Included on the Free Plan and Plus Plans.
Why don't my automated milestones add up exactly?
The builder divides each amount by the number of milestones and rounds to two decimal places, so the total can differ slightly from what you entered. Edit a milestone to adjust it.
Where do completed milestones show on the dashboard?
Completed milestones count towards Total Realised Savings. Milestones that aren't complete, including those pending approval or rejected, count towards Remaining Projected Savings. See Understanding the Savings Dashboard.
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