Budget Approval

| 5 minutes

Marketing Dept. often requires payments to be made for outsourcing, various tools, Ads and software. Any extra cost or payment that needs to be made to a third-party provider must be approved by Marketing Dept. Manager and Managing Director.

Payments to a third-party providers include the following:

  1. Promotional Materials:
    • Promotional Materials for Orders: If the cost of selected Promotional Materials exceeds the standard Promo Budget calculated from Order profit, Marketing Specialist can apply for expanded Budget Approval. Refer to SOP for requesting budget increase for the promotional materials budget of a specific order:

      • Refer to this SOP: Requesting Budget Increase and Getting Prices

    • Generic Promotional Materials for Stock: This is in reference to promotional materials with only AdvaCare Pharma logo (without the logo of the Distributor). Refer to the SOP for how to handle adding generic promotional materials from stock:

      • Refer to this SOP: Budget for Reordering Generic Promotional Materials

  2. Advertising Expenditures:
    • Marketing Campaigns:
      • Google Ads: Adjusting budget after analysis/reporting of a campaign or if Marketing Specialist or SEO Specialist proposes to run an extra Google Ads campaign for a specific reason.
      • Social Media: Running paid ads or other content.
    • Software: Any extra software that is needed for Advertising or other marketing activity.
    • Event: An exposition, trip or other event that requires additional advertising budget.
    • Other: Any other cost related to advertising.
  3. Outsourcing Partner:

    4. Costs for outsourcing content creation, design (i.e., 3D models, graphics, video effects, website animations, etc.) or other outsourced services.

  4. Performance Tools:

    5. Any SEO tool for keywords research, website performance, etc. or any other software needed for marketing activities.

IMPORTANT:

Any member of the Marketing Dept. can suggest improvements of the basic process or tools that enhance efficiency or performance, which might require additional costs. In this case, Marketing Specialist must follow the process described in this SOP to get the budget approved.

Budget Approval Process

  1. When the Marketing Specialist has a suggestion or request that will incur an extra cost, the Marketing Specialist must first send a message in relevant task to the Marketing Dept. Manager to explain all the details of the request, and inform of the cost.
  2. Marketing Dept. Manager must review and filter the request and determine whether the extra cost is necessary. If Marketing Dept. Manager agrees with the necessity of the request and considers the cost acceptable, Marketing Dept. Manager must first check whether the third-party provider, who will receive the payment, is added and updated in the ERP Contacts module.
    1. If the contact is not added to Contacts module, Marketing Dept. Manager must create the contact according to the SOP Updating Vendor Contacts .
    2. If the contact is already added, make sure the contact is updated, with all fields filled and up-to-date, according to the SOP Updating Vendor Contacts .
  3. Marketing Dept. Manager sends a task to Managing Director for budget approval in the project “MARKETING DEPT.”, in the task “Marketing Dept: Budget Approval”:

    4. Marketing Dept. Manager sends a task with the following template filled:

    1. Purpose of payment: [short explanation of what payment is for]
    2. Stakeholders involved: [who is payment being made to]
    3. Amount:
    4. Method of payment: [by what means will the payment be made]
    5. Contact in ERP (link):
  4. If the format of the task is not followed, the budget will not be approved and payment will not be made. Ensure steps 1-3 are completed above before sending task for approval.
  5. If the Managing Director approves the extra budget, move forward to arrange for payment. Request Accounting Dept. to proceed with the payment via task, providing any necessary information of the recipient of the payment (bank account, link to online payment, etc.).
  6. Once payment has been made, Marketing Dept. Manager must inform the Marketing Specialist who requested the budget approval in the relevant task. Instructions must be provided to Marketing Specialist for how to move forward.
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