When you accept a quote, the application generates an order. When you activate the order, it creates new assets. Assets are the products or services that a customer has bought. Asset-based ordering (ABO) manages the products and services of customers throughout their life cycles. ABO enables businesses who sell and manage subscriptions, recurring licenses, support contracts, or modular solutions to manage these transactions more efficiently after the initial purchase. Furthermore, it improves opportunities to manage renewals, upsells, and cross-sells.

Prerequisites for Asset Actions

To identify the asset products on the Product Catalog page, the application displays the installed product () icon on the asset product card.

Renewing an Asset

Renewal is the most common and efficient method of retaining current customers while driving growth and revenue for your company. By extending an agreement, asset renewals reduce the scope of pricing problems. When you renew an asset, you are essentially regenerating the asset life cycle for a new duration.

You can renew a standalone, standalone-with-attributes, or bundle-with-configurations asset from the Product Catalog page.

To renew an asset

  1. Go to the asset product.
  2. Click the Renew action on the product card.
  3. Adjust the renewal end date or use the existing term to renew the product.
  4. Click Renew. The product is added to the cart. 
  5. Go to the cart and make any necessary modifications to the asset.
  6. Follow the quote and order flow.

When the order is activated, renewal assets are generated. The overall status for the line item is shown as RENEWED on the Cart, Quote, and Order details page.

The Renew action is only available for products/assets with Price Type set to Recurring/Usage. If the asset's status isn't activated or if it's already in the cart for another action based on assets, then the Renew action will be disabled.

Terminating an Asset

Using the Terminate action, you can cancel a standalone, standalone-with-attributes, or bundle-with-configurations asset from the Product Catalog page. This means you can end an asset's term before it is completed, giving you flexibility even if you are in the middle of your selling period.

The Terminate action is only available for products/assets with Price Type set to Recurring/Usage. If the asset's status isn't activated or if it's already in the cart for another action based on assets, then the Terminate action will be disabled.

To terminate an asset

  1. Go to the asset product.
  2. Click the action dropdown button and select the Termination action on the product card.
  3. Review the product name, selling frequency & term, start & end date, quantity, net unit price, net price, and charge type.
  4. Select the termination date. 
  5. Click Terminate. The product is added to the cart. 
  6. Go to the cart and follow the quote and order flow.

The overall status for the bundle with configurations or standalone product (with attribute) is shown as CANCELLED on the Cart, Quote, and Order details page. You can only delete Cancelled assets from the cart details and mini cart.

Buy More Assets

Using the Buy More action, you can buy more standalone, standalone-with-attributes, or bundle-with-configurations assets from the Product Catalog page. 

The Buy More action will be disabled If the asset's status isn't activated or if it's already in the cart for another action based on assets.

To buy more an asset

  1. Go to the asset product.
  2. Click the action dropdown button and select the Buy More action on the product card.
  3. Review the product name, selling frequency & term, start & end date, quantity, net unit price, net price, and charge type.
  4. Select the start and end dates (for bundle products) and enter the extra quantity you wish to buy.
  5. Click Buy More. The product is added to the cart. 
  6. Go to the cart and make any necessary modifications to the asset.
  7. Follow the quote and order flow.

The overall status for the standalone product (with attribute) is shown as INCREMENTED on the Cart, Quote, and Order details page.

Changing the Configuration for an Existing Asset

You can change the configuration for an existing bundle subscription from the Product Catalog page when it's time for renewal or even in the middle of your subscription term. This applies to both Recurring Asset products (Bundles) and Usage Standalone Asset products. This enables you to tweak how your recurring bundle products or standalone usage assets work.

The Change Configuration action is only available for products/assets with Price Type set to Recurring/Usage and with an asset status other than cancelled.

To change configuration

  1. Go to the asset product.
  2. Click the action dropdown button and select the Change Configuration option on the product card.
  3. Review the product name, start & end date, quantity, and price.
  4. Click Change Configuration.
  5. The product is added to the cart and you are redirected to the product details page where you can change the configuration (change the quantity, add and remove bundles, options, option groups, etc.).
  6. Go to the cart and follow the quote and order flow.

When the order is activated, renewal assets are generated. Refer to the different line statuses while adding and removing bundle, option, and option group:

  • The overall status for the bundle with configurations or standalone product (with attribute) is Amended on the Cart, Quote, and Order details page.
  • You cannot change one-time options. The line's status is displayed as Existing for those options.
  • You can edit recurring options assets for: Switch Options, Select Additional Options, and Attributes.
  • When you change an option, the existing option's line status is displayed as Cancelled, and the newly selected option's line status is set to New. The cart displays both options with Line Status = Cancelled and New with the newly selected option within the option group.
  • When you select a new option without switching an existing option, the existing line's status is displayed as Existing, and the newly selected option's line status is set to New.
  • When you update the quantity of the existing option, the existing option Line Status = Amended.