Associating a Parameter with a Price Item or Price Item Bundle

You can define multi parameter based pricing for a price item or price item bundle when the parameters using which you want to define the price item pricing are associated with the respective price item or price item bundle during the pricing date range. Let us understand this with the help of an example from the financial institution domain.

The following table illustrates how a financial institution can offer different price for a price item based on the return codes:
Service Price Item Parameter Parameter Value Price
SEPA Direct Debit Return SEPADDR Return Code (RTURNCD) AC01 0.1$
AC04 0.2$
AC06 0.3$
AG01 0.10$

In such case, you need to first define a predefined parameter named Return Code where the parameter usage is set to Price Item). In the Return Code parameter, you must specify the above listed return codes (i.e. AC01, AC04, AC06, and AG01) as the predefined values. Then, in order to define multi parameter based pricing for the SEPADDR price item using the Return Code parameter, you must associate the Return Code parameter with the SEPADDR price item using the following specifications:

Parameter Display Order Mandatory (Yes or No) Optional Priority
Return Code 10 Yes -

Let us understand this with the help of another example from the health insurance domain.

The following table illustrates how a self-funded customer can be charged different admin fee for the services based on health coverage class and network type:
Service Price Item Health Coverage Class Network Type Fees
Claim Based Fees CLBDFS Medical In $100
Medical Out $150
Dental In $50
Dental Out $75

In such case, you need to first define two predefined parameters named Health Coverage Class and Network Type where the parameter usage is set to Price Item). In the Health Coverage Class parameter, you must specify the above listed values (i.e. Medical and Dental)) as the predefined values. And, in the Network Type parameter, you must specify the above listed values (i.e. In and Out)) as the predefined values. Then, in order to define parameter based pricing for the CLBDFS price item using the Health Coverage Class and Network Type parameters, you must associate these parameters with the CLBDFS price item using the following specifications:

Parameter Display Order Mandatory (Yes or No) Optional Priority
Health Coverage Class 10 Yes -
Network Type 20 Yes -

Prerequisites

To associate a parameter with a price item or price item bundle, you should have:

  • Parameters defined in the application (where the parameter usage is set to Price Item)

Procedure

To associate a parameter with a price item or price item bundle:

  1. Click the Parameters or Show All link in the Section pane when you are defining, editing, or copying a price item or price item bundle.

    The Parameters section appears. It contains the following fields in a grid:

    Field Name Field Description Mandatory (Yes or No)
    Effective Start Date Used to specify the date from when the parameter is associated with the price item or price item bundle. Yes
    Effective End Date Used to specify the date till when the parameter is associated with the price item or price item bundle. No
    Parameter Used to indicate the parameter that you want to associate with the price item or price item bundle.
    Note:

    The Search (The Search Icon) icon appears corresponding to the Parameter field. On clicking the Search icon, the Parameter Search window appears.

    In the Parameter Search window, the system allows you to search only those parameters where the parameter usage is set to Price Item.

    If you select a predefined parameter, the Add (The Add Icon icon appears corresponding to the Parameter field. On clicking the Add icon, a grid appears where you can specify a list of predefined parameter values which are valid for the price item or price item bundle while defining its pricing. If you do not list any predefined parameter value in this grid, the system enables you to specify any predefined value of the parameter while defining the pricing for the price item or price item bundle.

    		 Yes
    Business Label Used to specify a business label for the parameter. If you specify the business label for a parameter, the business label appears throughout the application instead of the parameter name. No
    Display Order Used to indicate the order in which the parameter and its value should appear in the pricing parameter information string across the application. Yes
    Parameter Usage Used to indicate whether you want to use the parameter for aggregation and/or for defining the price item pricing. The valid values are:

    • Aggregation - Used when you want to use the parameter for aggregating transactions.

    • Pricing - Used when you want to use the parameter for aggregating transactions as well as for defining the price item pricing.

    		 Yes
    Mandatory Used to indicate whether the parameter is mandatory while defining the price item pricing. No
    Priority Used to indicate the priority in which optional parameters should be considered while determining best fit price for the price item or price item bundle.
    Note: This field is disabled when the Mandatory option is selected.
    		 Yes (Conditional)
    Note: This field is required when the Mandatory option is not selected.
    Note:

    The Parameters section appears in the Price Item screen when the Multi Price Parameter option type of the C1_​PPARM_​FLG feature configuration is set to True.

    You cannot associate parameters to the ratio and phantom price item bundles. Therefore, while defining a ratio or phantom price item bundle, the Parameters section does not appear in the Price Item screen.

  2. Enter the required details in the Parameters section.
  3. If you want to associate more than one parameter with the price item or price item bundle, click the Add (The Add Icon) icon and then repeat step 2.
    Note:

    However, if you want to remove a parameter from the price item or price item bundle, click the Delete (The Delete Icon) icon corresponding to the parameter. You can edit the parameter details and remove a parameter from the price item or price item bundle when the parameter or any other parameter from the same date range is not yet used for aggregation or for defining the price item pricing.

    You can add a parameter which is used for aggregation, whenever required. However, you can add a parameter which is used for pricing when any other parameter from the same date range is not yet used for aggregation or for defining the price item pricing.

  4. For each predefined parameter which is associated with the price item or price item bundle, you can define a set of valid predefined parameter values for the price item or price item bundle, if required.
  5. Click Save.
    The parameters are associated with the price item or price item bundle.
    Note: By default, the priority of all parameters which are mandatory is set to 0.

Related Topics

For more information on... See...
How to define a price item or price item bundle Defining a Price Item or Price Item Bundle
How to edit a price item or price item bundle Editing a Price Item or Price Item Bundle
How to copy a price item or price item bundle Copying a Price Item or Price Item Bundle
How to define the valid predefined parameter values for a price item or price item bundle Defining the Valid Predefined Parameter Values for a Price Item or Price Item Bundle