Price List Items contain detailed pricing information about a product.
A product can be set up with one or more price list items. Each price list item includes the list price for the product including details of charges such as per unit, flat price, one time, recurring, and more. All the fields on a price list item are price related and impact the final price on the shopping cart. Each price list item represents different ways, a customer is charged for a product. For example: License fee, Implementation fee, and more. Price list items are categorized into price lists.
To create a price list item
- Navigate to the CPQ Console tab.
- On App Menu, click Apttus CPQ Admin and then click the CPQ Admin tab. The new admin console is launched.
- On the Pricing menu, click Manage Price Lists. A list of existing price lists is displayed.
- Select a price list and click the PRICELIST ITEMS tab.
- From the Products pane, drag and drop the required product to the right side.
Enter details in one or more of the following fields:
The following fields are not available in the Admin UI:
- Min Price/Net Adj %
- Max Price/Net Adj %
- Min/Max Price Applies To
You must use CPQ Console to configure these fields.
- Navigate to the CPQ Console tab.
- Click Manage Price Lists and select an existing price list.
- Scroll down to the Items related list, and click New Item.
Option Description Charge TypeSelect a charge type. These are a separate, identifiable element of charges that can be used for pricing. For example: Standard Price, Maintenance Fee, Installation Fee, and more.
This is a way to capture multiple types of fees for a product or line item. For instance, a product has a product fee but can also have a separate fee for installation. In such a case, you will create two price list item entries for the same product and specify the charge type for each one of the two entries. The charge type will be automatically added to the cart when you add the product so that all charges associated with the product are included in the pricing.
Apttus does not recommend setting up the bundle and its option to have different frequencies with the same charge type.
List Price Type a list price for a product in the price list item. If the price list item has matrices or may be overridden, enter 0 as the list price. Price Type Select One Time, Recurring, or Usage. Selecting Recurring or Usage enables the Frequency field. For instance, if you add a subscription product, you will choose type as recurring and then specify the frequency as monthly, yearly, and so on.
Example: You charge 1$ per month for a term of 1year, the price is calculated accordingly.
Frequency This is based on your selection from the Price Type field. Select an option to indicate how often the product will be charged. Price Method
Select one of the following:
- Per Unit: Multiplies the price with the quantity.
- Flat Price: Applies a flat price.
- Percentage: Enables the Percent, Percent Applies To, Related Price List Item fields.
- Related Price: Used when the price is calculated as a function of the price of other lines in the same shopping cart.
Tiered Rate: Default price method for Usage Price Type.
If you select Usage in the Price Type field, you must ideally select Tiered Rate in the Price Method field. This is the right combination for the Price Type and Price Method fields. CPQ does not prevent you from creating other combinations, but you might not get appropriate results.
Active To make the price list item active, select this check box. Charge Type Criteria
This is used for conditional charge types that are included only if a certain criteria is met and as part of adding the main product to the cart. Setting this criteria either by Line Item or Attribute field will only apply this price list item under those conditions. For example, this may be a charge type based on workstations; whereas the product may have a charge type based on users.
A product should have at least one Price List Item without any charge type criteria, only then the pricing happens to the product in the Cart.
If you are using the Charge Type Criteria setting, you must set a criteria for all PLIs. Also, the criteria must be mutually exclusive so that no two PLIs are applicable in pricing at any point.
Percent, Percent Applies To, Related Price List Item These allow you to set price dependencies such that one price is a percentage of the unit or extended price of another product. Refer Configuring Related Pricing for more information. Description Type a brief description to specify the purpose of the price list item. Price ListDisplays the price list. Moving the cursor on the link enables you to view or edit the price list. Cost
Type a cost of a product.
You can set the cost in the price list currency. If the quote price list is in a different currency, the sales user will see the cost with the correct conversion rate applied. The subsequent fields of cost such as base cost, base extended cost, and extended cost are calculated after the currency conversion. If the Disable Based On Currency Adjustment setting is enabled on the price list, the currency conversion is not applied.
Price Uom (Unit of measure) Select an option to specify the unit price you are charging is for an hour, day, year, and so on. This helps the end user while pricing products in the cart. You can modify this in the price list item object. Min Price/Net Adj %
Enter the minimum price or minimum net adjustment percentage. If the adjustment is a discount, use a negative number (for example, -5)
When you select an option from the Min/Max Price Applies To drop-down, the pricing engine considers the value you enter in this field as the minimum price of the product.
When Min/Max Price Applies To = None, the pricing engine considers the value you enter in this field as the minimum net adjustment percentage.
The minimum limit is not applicable to manual adjustments.
Max Price/Net Adj %
Enter the maximum price or maximum net adjustment percentage.
When you select an option from the Min/Max Price Applies To drop-down, the pricing engine considers the value you enter in this field as the maximum price of the product.
When Min/Max Price Applies To = None, the pricing engine considers the value you enter in this field as the maximum net adjustment percentage.
The maximum limit is not applicable to manual adjustments.
Min/Max Price Applies ToSelect one of the following:
- Base Price - This is the derived price for a product when you add it to the cart. This can be same as the list price or different from the list price, if you have defined a price matrix or a price rule that dynamically arrives at the price of the product based on other factors.
- Base Extended Price - This is derived by Base Price * Quantity * Term.
When you select an option from the Min/Max Price Applies To drop-down, the pricing engine considers the value you enter in the Min Price/Net Adj % or Max Price/Net Adj % field as minimum or maximum price of the product.
When Min/Max Price Applies To = None, the pricing engine considers the value you enter in the Min Price/Net Adj % or Max Price/Net Adj % field as a minimum or maximum net adjustment percentage.
Effective Date Enter an effective date for the price list item. Expiration Date Enter an expiry date for the price list item.
Apttus Pricing Engine does not support custom values for Price Type, Frequency and Price Method at the Price List Item level or in the Pricing Callback classes. Using custom values may cause unexpected system behavior.
Click Save. A price list item is created for a product or option. The price list items created display the products and options to the end user in the pricing cart page.
Apttus CPQ uses charge types as the consolidation factor for grouping. Such grouping can be at the bundle level, Summary Group level, or Sub-total level.
In this way, we ensure that the line items with the same Charge Type and Frequency calculate the following fields on the Cart appropriately:
• Selling Term
• Adjustments applied on a bundle line or a Summary group line
- Adjusting Options Pricing for a Bundle Manually
The Options tab display the option product and associated price for a bundle. You can control how the options price rollup to the bundle price. You can also control the display of options adjustments on the pricing cart page.
- Applying Price Matrices from the Matrices Tab
If the product has a matrix based price, click the Matrices tab.
- Applying the Default Pricing to Products
You can apply default pricing to a product from the Defaults tab.
- Defining Tax and Billing for Products
You can define the way your product should be billed and taxed from the Tax & Billing tab.
- Applying Miscellaneous Pricing to Products
You can apply miscellaneous pricing to a product from the Miscellaneous tab.
- Configuring Charge Type Frequency as Weekly
Products can now be configured to have recurring charges with a pricing frequency set as weekly. The customer would then be charged based on the number of weeks between the start and end dates of the product.