Defining a Price Item or Price Item Bundle

Prerequisites

To define a price item or price item bundle, you should have:

  • Contract types, To Do types, and To Do roles defined in the application

  • To Do roles associated with the required To Do type

  • Value defined for the Default Contract Type option type in the C1_​PRICING feature configuration

Procedure

To define a price item or price item bundle:

  1. Click the Menu link in the Application toolbar.
    A list appears.
  2. From the Main menu, select Pricing Management and then click Price Item.
    A sub-menu appears.
  3. Click the Add option from the Price Item sub-menu.

    The Price Item screen appears. It contains the following sections:

    • Main - Used to specify basic details about the price item or price item bundle.

    • Parameters - Used to associate a parameter with the price item or price item bundle. These associated parameters are then used for aggregating transactions and/or for defining the price item pricing.

      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.

    • Divisions - Used to associate the price item or price item bundle with one or more divisions. In addition, it enables you to:

      • Associate the service quantity identifiers (SQIs) with the price item or price item bundle for a division

      • Define the accrual type criteria of the price item or price item bundle for a division

        Note: This step is not applicable for the health insurance business.

      • Associate the price item or price item bundle with a hierarchy entity in an entity hierarchy relationship of a division

        Note: This step is not applicable for the health insurance business.

      • Define the cost of the price item or price item bundle for a division

        Note: This step is not applicable for the health insurance business.

      • Define the average price floor and ceil limits of the price item or price item bundle for a division

        Note: This step is not applicable for the health insurance business.

      • Define the negotiability floor and ceil values of the price item or price item bundle for a division

        Note: This step is not applicable for the health insurance business.

      • Define the division-specific characteristics for the price item or price item bundle

    • Price Item Characteristics - Used to define characteristics (which are applicable across divisions) for the price item or price item bundle.

    The Main section contains the following fields:

    Field Name Field Description Mandatory (Yes or No)
    Price Item Used to specify the price item or price item bundle. Yes
    Description Used to specify the description for the price item or price item bundle. Yes
    Price Item Usage Used to indicate whether the price item or price item bundle is available for pricing or pricing and billing. The valid values are:

    • Pricing - Used when you want to define pricing for the price item or price item bundle, but no charges should be created against it in the system.

      Note: This option is not applicable for the health insurance business.

    • Pricing and Billing - Used when you want to define pricing and create charges for the price item or price item bundle in the system.

    Note: By default, the Pricing and Billing option is selected.
    		 Yes
    Price Item Type Used to indicate the type of the price item or price item bundle. The valid values are:

    • Rate - Used when you want to create a rate based price item or price item bundle. For example, savings, current, and loan interest services (i.e. price items) are rate based price items.

      Note: This option is not applicable for the health insurance business.

    • Fees - Used when you want to create a fee based price item or price item bundle. For example, debit credit service (i.e. price item) is a fee based price item.

    Note:

    This field appears when the Pricing option is selected from the Price Item Usage list.

    By default, the Fees option is selected.

    You cannot create a price item bundle when the Pricing option is selected from the Price Item Usage list and Rate option is selected from the Price Item Type list.

    The system automatically sets the price item type of those price items or price item bundles which are available for pricing and billing to Fees. Therefore, this field does not appear when the Pricing and Billing option is selected from the Price Item Usage list.

    		 Yes
    Bundle Used to indicate whether you want to create a price item bundle. The valid values are:

    • Yes

    • No

    Note:

    By default, the No option is selected.

    This field is not applicable for the health insurance business.

    		 Yes
    Bundle Type Used to indicate the type of the price item bundle. If thePricing and Billing option is selected from the Price Item Usage list, the valid values are:

    However, if the Pricing option is selected from the Price Item Usage list and the Fees option is selected from the Price Item Type list, you can only define a regular price item bundle. Therefore, by default, the value is set to Regular.

    Note:

    This field appears when the Yes option is selected from the Bundle list.

    This field is enabled when the Pricing and Billing option is selected from the Price Item Usage list and the Yes option is selected from the Bundle list.

    You cannot define a price item bundle when the Pricing option is selected from the Price Item Usage list and Rate option is selected from the Price Item Type list.

    This field is not applicable for the health insurance business.

    		 Yes (Conditional)
    Note: This field is required when you are creating a price item bundle.
    Global Price List Used to indicate whether the price item or price item bundle can be assigned to a global price list. The valid values are:

    • Yes

    • No

    Note: By default, the No option is selected.
    		 Yes
    Contract Type Used to indicate the contract type that you want to associate with the price item or price item bundle.
    Note:

    This field appears when the Pricing and Billing option is selected from the Price Item Usage list.

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

    		 Yes
    Price Item Manager To Do Type Used to indicate the To Do type using which a To Do should be created when the deal creator or approver requests the price item manager (i.e. clicks theSend Price Items for Approval button) to approve the average price for the price item or price item bundle offered in a deal.
    Note:

    The Search (The Search Icon) icon appears corresponding to the Price Item Manager To Do Type field. On clicking the Search icon, the To Do Type Search window appears.

    On specifying the To Do type, the description of the To Do type appears corresponding to the Price Item Manager To Do Type field.

    This field is not applicable for the health insurance business.

    		 No
    Price Item Manager To Do Role Used to indicate that users with the specified To Do role can approve the average price for the price item or price item bundle offered in a deal. Note that the price item manager can approve the average price when it is within the average price floor and ceil limits defined for the To Do role.
    Note:

    The list appears when the price item manager To Do type is selected from the respective field. It includes only those To Do roles which are associated with the price item manager To Do type.

    This field is not applicable for the health insurance business.

    		 Yes (Conditional)
    Note: This field is required when the price item manager To Do type is specified for the price item or price item bundle.
    Average Price Floor and Ceil Type Used to indicate the manner in which you want to define the average price floor and ceil limits for the price item or price item bundle. The valid value is:

    • Absolute Value Range - Used when you want to define the average price floor and ceil limits in the absolute values. For example, the average price for the price item or price item bundle should be between 10$ to 15$.

    • Spread Amount - Used when you want to define the average floor and ceil limits based on the spread amount.

    • Spread Percentage - Used when you want to define the average floor and ceil limits based on the spread percentage.

    Note:

    • Incase of Spread Amount and Spread Percentage options, the system calculates the average price of a price item and based on the average price and the spread amount or spread percentage, the average floor and ceil limits are derived.

    • This field is not applicable for the health insurance business.

    		 Yes (Conditional)
    Note: This field is required when you are defining the average price floor and ceil limits of the price item or price item bundle for a division.
    Sort Sequence Used to specify the sequence in which the price item should appear in the price item hierarchy of the deal pricing management module. No
    Variable Price Used to indicate whether the system inherits the pricing of the price item from the price list while orchestrating a deal in the deal pricing management module.
    Note:

    If the Variable Price option is selected, the pricing offered for a price item to an entity in the deal is overridden when the price list pricing is changed after orchestrating the deal in the system.

    However, if the Variable Price option is not selected, the pricing offered for a price item to an entity in the deal is not overridden when the price list pricing is changed in the system. This enables the relationship manager to create deals for an existing customers, accounts, and prospects where the pricing of the price items are fixed for a particular timeframe.

    		 No
    Tip: Alternatively, you can access the Price Item screen by clicking the Add button in the Page Title area of the Price Item screen.
  4. Enter the required details in the Main section.
  5. Associate the parameters with the price item or price item bundle, if required.
    Note: 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.
  6. Associate the price item or price item bundle with the required divisions.
  7. Associate the SQIs with the price item or price item bundle for the required divisions.
  8. Define the accrual type criteria of the price item or price item bundle for the required divisions.
    Note: This step is not applicable for the health insurance business.
  9. Associate the price item or price item bundle with a hierarchy entity in an entity hierarchy relationship of the required divisions.
    Note: This step is not applicable for the health insurance business.
  10. Define the cost of the price item or price item bundle for the required divisions.
    Note: This step is not applicable for the health insurance business.
  11. Define the average price floor and ceil limits of the price item or price item bundle for the required divisions.
    Note: This step is not applicable for the health insurance business.
  12. Define the negotiability floor and ceil values of the price item or price item bundle for the required divisions.
    Note: This step is not applicable for the health insurance business.
  13. Define the division-specific characteristics for the price item or price item bundle. if required.
  14. Define the characteristics for the price item or price item bundle, if required.
  15. Click Save.
    The price item is defined.
    Note: While creating a price item or price item bundle which is available for pricing, the contract type specified in the Default Contract Type option type of the C1_​PRICING feature configuration is automatically associated to the price item or price item bundle.

Related Topics

For more information on... See...
Price Item screen Price Item (Used for Searching)
How to associate a parameter with a price item or price item bundle Associating a Parameter with a Price Item or Price Item Bundle
How to associate a price item or price item bundle with a division Associating a Price Item or Price Item Bundle with a Division
How to associate an SQI with a price item or price item bundle for a division Associating an SQI with a Price Item or Price Item Bundle for a Division
How to define the accrual type criteria of a price item or price item bundle for a division Defining the Accrual Type Criteria of a Price Item or Price Item Bundle for a Division
How to associate a price item or price item bundle with a hierarchy entity in an entity hierarchy relationship of a division Associating a Price Item or Price Item Bundle with a Hierarchy Entity in an Entity Hierarchy Relationship of a Division
How to define the cost of a price item or price item bundle for a division Defining the Cost of a Price Item or Price Item Bundle for a Division
How to define the average price floor and ceil limits of a price item or price item bundle for a division Defining the Average Price Floor and Ceil Values of a Price Item or Price Item Bundle for a Division
How to define the rate negotiability floor and ceil values of a price item or price item bundle for a division Defining the Rate Negotiability Floor and Ceil Values of a Price Item or Price Item Bundle for a Division
How to define a division-specific characteristic for a price item or price item bundle Defining a Division-Specific Characteristic for a Price Item or Price Item Bundle
How to define a characteristic for a price item or price item bundle Defining a Characteristic for a Price Item or Price Item Bundle
How to set the C1_​PRICING feature configuration Setting the C1_​PRICING Feature Configuration