For a usage-based product, you can modify its price tiers mid billing cycle. Let us take a scenario, where a customer is billed at a per unit rate based on the volume consumed for a product ‘StarKit’. A flat rate is defined for each price tier as following:

• 1 to 10 units = $100
• 11 to 20 units = $200
• 21+ units = $500

The billing cycle for the product is from 1/1/2017 to 12/31/2107.

Now, let’s assume that on 5/1/2017 the price tiers were modified as

• 1 to 10 units = $150
• 11 to 20 units = $250
• 20+ units = $550

You will now need to bill the customer as per the new price tiers if the usage date is greater than 5/1/2017.

To modify the price tiers, use the asset manager and change the price tiers for the product ‘StarKit’ as mentioned above and change the start date to 5/1/2017.

The usage inputs are now processed with the modified price tier if the Usage Date is greater than 5/1/2017.

For example, if you specify Quantity as 5 and Usage Date as 4/1/2017, you will see the Rated Amount as $500 (5 * 100).

If you specify Quantity as 5 and Usage Date as 7/1/2017, you will see the Rated Amount as $750 (5*150).