Price books

A Price Book is a list of products and services along with their prices. You can create multiple price books depending on the currency, geography, buyer group, product lines, etc. When you create a deal document, you need to select a price book. Use the same Price Book for every document created within an opportunity; use the same Price Book to add products you can quote in deals. It has an intuitive rule-based form to add products and a spreadsheet-like display of the line items for easy viewing.

Mind Blowing Features

⚒️ Let’s break it down

Every Price Book has the following elements you need to know about before you start adding products.

1. Price Book details bar

2. Product Search

3. Add New Product to Price Book

4. Price Book Attributes

   List of Price Book Attributes

   4.1 Product Name
   4.2 Product SKU
   4.3 Product Code
   4.4 Product Configuration Type
   4.5 Charge Type
   4.6 Charge Frequency
   4.7 Billing Frequency
   4.8 Minimum Selling Term
   4.9 Selling Term UoM
   4.10 SKU UoM
   4.11 Effective Date
   4.12 Expiry Date
   4.13 Default Quantity
   4.14 Minimum Quantity
   4.15 Max Usage
   4.16 Usage UoM
   4.17 Remarks
   4.18 Pricing Options
   4.19 Quantity UoM
   4.20 Base Price

5. Deal Table Properties

6. Clause Association

7. Column Settings

8. Add New Column

1. Price Book details bar

This bar appears on top of every Price Book and displays its details such as status, date of creation, last edit date and owner’s name.

2. Product Search

The search bar searches for the matching text in every cell present in the Price Book. So, if you ever forget the name of a product but remember what it’s description was, just type it out and let the search do the work.

3. Add New Product to Price Book

You can add a new product by clicking the “Add New Product” button and entering product details in the pop-up wizard. The pop-up wizard has four parts. The form fields in the first two parts form the Price Book Attributes.

a. Product Selection and configuration details
Choose the product SKU you want to add. Select the Charge Type first as the other fields are depend on it. Enter details and click “Next”
b. Price Configuration
Define the pricing structure for your product by choosing a price method. Enter price as needed and click “Next”.
c. Deal Table Properties
Define the visibility and editability of some Price Book Attributes in the Deal Table. Use this feature to restrict the editability of fields like quantity and selling term by the sales rep.
d. Clause Association
Associate relevant clauses or text with products. These clauses or text will appear in the search only if it has been Saved as a Clause from a template.

4. Price Book Attributes

Attributes are characteristics that will help you configure a product. Each attribute appears as a column header, the values of which are entered in the pop up while adding a product. They appear as column headers as in a spreadsheet. The products appear as rows and each row is called a Product Line Item. Every Price Book has the following columns.

4.1 Product Name

The Product Name field displays the name of the product. Depending on the product you choose, the other details such as PRODUCT SKU, PRODUCT Code, and PRODUCT Configuration fields get populated with data from the Product Catalog.

4.2 Product SKU

The Product SKU field displays the SKU code of the product. Depending on the product you choose, the Product SKU field gets populated with the Product SKU data.

4.3 Product Code

The Product Code field displays the Product code of the product. Depending on the product you choose, the Product Code field gets populated with the Product Code data.

4.4 Product Configuration

The Product Code field displays the configuration of the product. Depending on the product you choose, the Product Configuration field gets populated with the Product Configuration data.

4.5 Charge Type

Charge Type is the way you will charge money to your customers for the product you are selling. It is the first field to be filled while adding a product as it regulates the other fields within the pop-up. You can choose one of the following five Charge Types.

Charge type as shown in list. You can select the charge type.

Select the charge type from the list

• Evergreen

Evergreen products are the ones that don’t expire and are perpetual in nature or for which the customers are charged only once. They have a one-time cost associated with them. They don’t have any validity associated with them and hence the Selling Term does not apply to them. Typically, setup, installation and implementation products are marked as Evergreen.

Example: Platform fee, engine price,

• One Time

One time products are the ones for which the customer will be charged money only once but have some validity or duration associated with them. They are similar to Evergreen products but have a Selling Term. Typically, Setup, Post Implementation and Implementation services that go on for a few weeks or months are marked as One-Time since. The customer will pay for it only once but the service will be charged on a periodic (say monthly) basis but for a fixed time.

• Recurring

Recurring Products, also called subscription products are the ones charged on a subscription basis. They have a recurring time interval or charge frequency at which they will be charged money for using the product. Typically software licenses or seats are charged on a recurring basis.

• Recurring Usage

Like Recurring products, products marked as Recurring Usage also have a periodic subscription charge but depends on how much or how many units has the customer used. These products are charged on a consumption basis but follow a subscription model.

• One-time Usage

These products are charged on a consumption basis but only have a one-time charge associated with them and no Selling Term.

4.6 Charge Frequency

Charge Frequency refers to the periodic frequency at which you will charge the products marked with the Charge Type, Recurring or Recurring Usage. The List Price for such products will be priced in this unit. For instance, if you have a license sold at $10 per user per month, then the charge frequency is ‘month’.

4.7 Billing Frequency

This is the frequency at which you will send an invoice to your customer for this product.

4.8 Minimum Selling Term

This is the minimum term (duration) for which, you want to sell the product. Entering a number here will ensure that the sales rep will not quote the product lesser than this duration. The Selling Term field in the Deal Table for such a product will be populated with this value. The Selling Term is measured in Selling Term UoM.

4.9 Selling Term UoM

It is the Unit of Measurement of the Selling Term and Minimum Selling Term. The Selling Term UoM time interval is always greater than or equal to the Charge Frequency.

4.10 SKU UoM and 4.20 Quantity UoM

Revv has the capability of addressing three price units of measurement for the same product. Your product can fall under one of the following three formats.

A. Price per [unit]
Eg. $10 per unit or $10 / seat
B. Price per [unit] per [charge frequency]
Eg. $10 per seat per month or $10 / seat / month
c. Price per [unit 1] per [unit 2] per [charge frequency]

Eg. $10 per seat per GB per month or $10 / seat / GB / month
SKU UoM is the unit in which you measure the SKU or product itself while Quantity UoM is the unit of measurement of the quantity. If your product has only one unit of measurement, it is the Quantity UoM while the SKU UoM should be set to “Pack” or simply “unit”. If you have two units of measurement, as in [c], one of them becomes the SKU UoM while the other becomes the Quantity UoM. SKU UoM and Quantity UoM have a corresponding column each in the Deal Table

4.11 Effective Date

The effective date is used to signify the date from when the product is effectively available for sale. You can add a product to the Price Book but set a later Effective & expiry Date and coincide with your product release or sell a promotional product.

4.12 Expiry Date

The expiry date is used to signify the validity of the product within that price book, i.e., until when the product will be available to sell. You can add a product to the Price Book but set a later Effective & expiry Date and coincide with your product release or sell a promotional product.

4.13 Default Quantity

The numerical value entered here will appear as the default in the Quantity column in the deal table. Use this to guide reps in entering values that make the best.

4.14 Minimum Quantity

This is the minimum quantity that the rep needs to enter in the Deal Table. The default quantity should always be equal to or greater than the minimum quantity.

4.15 Max Usage and 4.16 Max Usage UoM

For products that have Recurring Usage or One-time Usage as their Charge Type, you can enter the max usage limit and its unit of measurement to make invoicing easier during billing.

4.16 Remarks

You can enter remarks about the product that may help the sales rep price the product better or use it to convey any other business logic such as product compatibility.

4.17 Pricing Options

Revv lets you configure multiple types of pricing and fits the pricing needs for all your SaaS products and services.

Choose from any of the following pricing options to enter price details.

4.18 Base Price

This is the fundamental cost for the product that you’d like to charge your customers. You can use the base price to add a platform fee or a signup fee. This price will not be visible to your customers; instead becomes part of the list price.

5. Deal Table Properties

This is the fourth popup in the Popup wizard for adding a product in the price book. Here, you can choose the editability of certain columns in the Deal Table.

• Quantity Editable: Unchecking this field would lock the Quantity field in the Deal Table for that product. You can do this only for products for which you’ve chosen Flat Price. If you have entered a value in the Default Quantity and unchecked this field, the Quantity will be fixed to that value in the Deal Table and cannot be changed.
• Renewable: Check this field if you want the product to be auto-renewed.
• Selling Term Editable: Unchecking this field would lock the Selling Term field n the Deal Table for that product.
• SKU Quantity Editable: Unchecking this field would lock the Selling Term field n the Deal Table for that product. Uncheck this if you have only one price dimension besides the Charge Frequency; i.e., your product is priced like this $10 per unit per month.
• Billing Frequency Editable: Unchecking this field would lock the Selling Term field n the Deal Table for that product.
• Hide in Catalog Search: Checking this field would prevent the product from appearing in the Price Catalog in the Deal Table. Since the product won’t be visible, it cannot be added to the Deal Table.

6. Product-Clause Association

Associate clauses to the product so that they may get highlighted when creating a document. Clauses are stored in the clause library and multiple clauses can be added to a single product.

7. Column Settings

Because of its spreadsheet-like layout, it is very easy to customize the view columns. Use drag and drop on column headers to move columns around. Resize columns by dragging the column header border lengthwise. Each column has a Sort option which can be used by clicking the column header. Using the column sort, sort the products either alphabetically, or cataloged together by a common value. Right-click on any cell to open the column setting options. To update a product, click Edit Row. You can auto-size the columns or reset them to the default view.

8. Add New Column

You can create your own custom columns and define the value type as numeric, alphanumeric or picklist.