Products & product items
Setting up your products with product items.
A product is an entity that is sold by a business. It can be a physical item, such as a piece of hardware, or a service, such as cloud software or support. Products can be sold individually or as part of a plan that includes multiple products.
Product items
Product items are individual components that make up a product. For example, a cloud software product might have different product items for different components. A product can include one or more product items, these items can not be sold individually they will always be sold together and end up on the customer's invoice.
Products
When creating an offer for a prospect, a sales representative typically includes individual products in the plan, rather than product categories. This allows the representative to clearly specify the products and services that are being offered and makes it easy for the prospect to understand what they are getting.
Edit Product Information
You can edit Product level information and also create versions of a product
Product status validations
As discussed in the Statuses article, products are one of the resources that have statuses. To make sure historical data is preserved and can be checked in, say, an audit later, statuses have validations that enable or disable a user to perform certain actions.
| Product status | Impact |
|---|---|
| Draft | - Can be deleted - Not available in Insights - Cannot be added to a Pricing Plan, but the plan must be in draft status and cannot be set to active |
| Active | - Can be added to a pricing plan version, which can be set to active - Available in Insights |
| Deprecated | - Cannot be added to a new pricing plan version - New product items cannot be connected |
| Archived | - Cannot be viewed in Solvimon Desk - Cannot be added to a new pricing plan version - Will not be show in Insights |
Revenue items
Revenue items are product items are the lowest in the Product Catalog hierarchy and are the resources that are eventually connected in the Pricing Plan to a certain pricing structure.
When a product is sold, the product items are the level at which invoice lines are created and therefore require the most attention in setting up your account.
Charge types
Product items can be of several charge types, including usage based, recurring, per-seat, and one-off:
Usage based
Product items are invoiced based on usage of the product, such as per card authorization or per support ticket. The quantity for these product items is calculated using methods such as SUM, MAX, or MIN. Read more about calculation methods here.
Recurring
Product items are invoiced to customers on a periodic basis, such as monthly or yearly.
Per-seat
Product items are invoiced to customers on a periodic basis with seats or accounts as units.
One-off
Are invoiced only once, such as an onboarding or administration fee.
It is important to carefully consider the type of product items you offer and how they will be invoiced to customers in order to accurately reflect the cost of your products.
Deduction items
Deduction items are a specific type of usage-based product items which are used in payment or transaction companies that already deduct or withhold some costs off of the charges that have been made.
For example: a payment service provider manages transactions of their customers and when processing a transaction movement, a certain percentage of the transaction is already withheld from payout.
This means the costs are already paid for and will not be added to the 'Amount due' on the invoice.
Product (item) examples
Below are some examples of how the products and product items are incorporated into the invoice. Please note that the product category is not necessarily presented on the invoice, this is an optional field.
| Product | Product item | Charge type | Unit type |
|---|---|---|---|
| Platform | Monthly subscription | Per-seat | Seats |
| KYC | Individuals | Usage based | Per check |
| KYC | Business | Usage based | Per check |
| Onboarding | White glove treatment | One-off | One-off fee |
| Support | Gold support Subscription | Recurring | Monthly fee |
| Support | Gold support Usage | Usage based | Per ticket |
Ordering product and product items
Ordering product and product items can be done via Desk as shown in the snippet below. You can click on the three dots and select change ordering in order to update the ordering of the products and product items
Ordering and defaults
On an invoice, the default ordering of line items is determined as follows:
- Pricing Plan Version: The display order is first taken from the pricing plan version. If the order is configured there, it will be reflected on the invoice.
- Product Catalogue: If the pricing plan version does not specify an order, the system defaults to the ordering in the product catalogue. This order can be modified for active products, offering flexibility to influence the display order of line items even in active pricing plan versions, where direct modification of pricing isn't possible.
This ensures control over how items are presented on the invoice.
Updated 9 months ago