2. Background:
In addition to building new search firms, Prospect City offers unbundled products and services to
senior level executive search firms of all sizes, including
Velvet™ Database In‐house Leverage System Template Design Template Design
VelvetPLUS™ Database Exchange Hub Matchmaking Bookkeeping Mailings
(independent Researchers)
VoIP PBX‐Style Telephone Payroll Processing Proposals/Presentations
Systems Management (Projects using
Invoicing and Collection Correspondence
multiple Independents)
Website Design & Hosting
Payables Management Phone Reception
Resource/Subscription
Client/Candidate Worksites
Discount Programs Online Systems Available Process Improvement
Email Hosting
Research Intranet Design & No Check Writing or Employee and Policy
Hosting
Private IM Hosting Signature Authority Needed Manuals
So What’s New?
4. Velvet Base System VelvetPLUS System
• Resides on a server with other customers • Resides on a dedicated server
• Separate Data Drives • Dedicated processor resources
• Shared Processors • Multiple RAID drives
• Low setup fee • Mid‐level setup fee
• Limitation on customization • Unlimited customization
• Few limitations, but based on • Because it resides on its own server
processor usage and its impact on there are no limits to customization.
other customers.
• Base system includes these features
• Base system does not include • Function Codes
• Function Codes • Education Module
• Education Module • Compensation Module
• Compensation Module • Accounting/PNB Module
• Accounting/PNB Module • Off‐limits Feature
• Off‐limits Feature • Parent/Subsidiary Function
• Parent/Subsidiary Function • Time Management
• Time Management • Expense Reports
• Expense Reports • Memo Type Codes
• Memo Type Codes • Referral Mapping
• Referral Mapping
• Lower monthly user fees
• Higher monthly user fees
5. What are the most important differences between Velvet Base and VelvetPLUS?
• Dedicated server
• Unlimited customization allowed
• Shares a server with other customers
• Comes with many advanced features
• Limited customization allowed
• Can be hosted and supported off‐site or
within your offices.
• Does not come with advanced features
8. What are the differences in the features and functions of Velvet Base and VelvetPLUS?
Search Project Entry Screens
Same as BD/PNB
Same as BusDev
but with Accounting
except for “Type”
Tab.
Relevant Accounting
data automatically
delivered to
bookkeeper.
Bookkeeper can
update billing &
Using time management module and collection status.
bookkeeping input, can track and analyze
“cost‐of‐search” to improve profitability. Track “credit”
for new business
and execution.
11. What are the differences in the features and functions of Velvet Base and VelvetPLUS?
Expense Reports
Integrated Expense Report Module is Not Available in the
Base Velvet System
Expense Report
Submission/Approval Process
1) Complete entry, review. Can be
reviewed by author (admin) and
Receipt Indicator
“authored for” (recruiter)
simultaneously. Type Codes that
match your Chart
2) Submit for Approval. The ER now
of Accounts
appears on the approver’s screen
for review/approval. An email is
Categorization
also sent to the approver with a
(practice, office,
link to the file.
etc.)
3) Approver can open, review, change,
approve or deny. Approved Expense
Reports are delivered to the Bookkeeper
electronically. Denied Expense Reports are
returned to the author and “authored for” Line item detail includes client‐ Automatic Splits
user screens for correction and resubmission. billable, corporate charges and Calculation
descriptions for invoices
12. What are the differences in the features and functions of Velvet Base and VelvetPLUS?
Time Management
Time Management Module is Not Available in the Base Velvet
System
About Time Management
Concept: Track select users’ (leverage, researchers, etc.) time How it works:
spent on search projects, BusDev and other categories in order
Acctg. Assigns a dollar‐value for user’s time (hourly rate).
to determine and analyze the profitability of each search.
System automatically sends selected users new timesheets
Feature allows firm Owners to best analyze beyond business
each day.
development and search execution success in order to
produce more accurate bonus assessments and resource Owners can mandate time sheet entry to varying degrees,
allocation. based on the firm’s policy.
Hours and time dollar‐values are computed and combined with
specified vendor costs (research subscriptions for example) to
+ = COST‐OF‐SEARCH produce a cost of search figure, displayed in the search project
file, accounting section. As an added option, the system will
(PROFITABILITY)
also calculate recruiter costs when the search surpasses the
People Time Vendor/Resource retainer billing period, resulting in a true cost‐of‐search
Value Cost measurement.
13. Learn from others who’ve switched
• Since Jan 2007 Velvet has replaced 14 existing databases at search firms of all sizes, including:
Why Switch?
Velvet is the last system our clients will ever need. It’s customizable to the smallest degree
and scalable to meet the needs of the largest of clients (one client has 80,000 users). We
have never lost a Velvet client.
It’s proprietary because our clients design it. In fact, with our licensing option clients can even
own it, access the underlying code and hire anyone to make changes in the future.
It’s protected. Not only can the system be hosted offsite or in our client’s offices, it is
developed using the #1 security‐focused operating system and code designed with security
over functionality. That’s rare.
It’s accessible. Because it’s web‐based, the system can be accessed by users from any
computer, blackberry or terminal regardless of their location. No need to lug your laptop
everywhere you go.