At its simplest implementation, a product can use a single Prices record, marked as the Default, which will apply to all customers. However, most products will have multiple prices, depending on the characteristics of the person or company ordering it.
Multiple Prices records create a Pricing Matrix. When a product is added to an order, Aptify automatically identifies the best price from the matrix for the customer based on the order's characteristics (such as customer type, quantity ordered, and date of order).
An organization can associate an unlimited number of prices with each product. By creating a pricing matrix, the Products service conveniently handles complex pricing structures without having to create multiple Products records for the same product for different pricing situations. A pricing matrix utilizing only the parameters listed on the Prices record allows an organization the ability to:
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In addition, one of the benefits of using a pricing matrix is that it simplifies price changes. If the same percentages are to apply at all times, only the base price listed in the matrix needs updating. Likewise, in a derived foreign currency matrix, only the record containing the base price needs to be changed as the other prices are derived automatically.
See Adding a Price to a Product for information on how to create the individual Prices records. The remainder of this section provides examples of how to set up a basic pricing matrix for a number of scenarios: <add child display macro>
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- Creating a Customer Type Pricing Matrix
- Creating a Time Period Pricing Matrix
- Creating a Currency Type Pricing Matrix
- Creating a Derived Foreign Currency Pricing Matrix
Anchor Creating a Customer Type Pricing Matrix Creating a Customer Type Pricing Matrix
Creating a Customer Type Pricing Matrix
| Creating a Customer Type Pricing Matrix | |
| Creating a Customer Type Pricing Matrix |
To create a product pricing matrix that allows only members of an organization to receive discounted rates on a product, the product needs to have at least two Prices records. The following table represents the data for two Prices records that sell a product to a member for $50.00 and the same product to a non-member for 20% more. In this scenario, the member's price record is defined as the base type and the non-member's price record is based on 120% of the base. The non-member price is specified as the default.
Name | Price | Description | Member Type | Type | % of Base | Default |
Member | $50.00 | Member Price | Member | Base | N/A | No |
Non-Mem-ber | N/A | Non-Mem-ber Price | Non-Member | % of Base | 120% | Yes |
When a change in the base price is deemed necessary but the same percentages are to remain, only a change to the Price field in the base record is required. The other records that calculate their prices based on the base price continue to use the same percentage.
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A pricing matrix that varies the Start Date and End Date fields allows prices to fluctuate during specific time periods. For instance, to offer a price at a 25% discount during a specific month, create two Prices records. The first price record is for the regular price during the product's existence. The second price is for the time period during which the discount is offered. When creating a pricing matrix to control prices during specific time periods, the date fields determine which price to use when ordering the product.
Name | Price | Description | Member Type | Start Date | End Date | Type | % of Base | Default |
Regular Member Price | 50.00 | Regular Member Price | Member | 1/1/2008 | 12/31/2008 | Base | n/a | No |
Discount Member Price | 0.00 | Discounted Price | Member | 10/1/2008 | 10/30/2008 | % of Base | 75% | No |
Non -Member Price | 0.00 | Non-Member Price | Non-Member |
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| % of Base | 125% | Yes |
In the above matrix, the discounted price is during the month of October. The results of this structure allow the product to be sold to members during the month of October at a 25% discount. Even though the dates overlap, the Aptify Order Entry system finds the best price from the matrix during the overlap period for the specified member type based on the order's Order Date.
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To create a product pricing matrix that allows different prices to be selected based on the currency type of the order, the product needs to have at least two Prices records. The following table represents the data for two Prices records that sell a product in the US with a value of $100. The same product sold in euros is valued at €85.
Name | Price | Description | Member Type | Type | Currency Type | Default |
US Dollar | 100 | US Dollar Price | Member | Regular | US Dollar | Yes |
Euro | 85 | Euro Price | Member | Regular | Euro | Yes |
When the product is selected in the order, the Currency Type of the order is compared to the Currency Type in the Prices record. The matching record is selected, and the corresponding price is displayed.
Note that if the matrix has a single price for a foreign currency, you may want to set that price as the currency's default to ensure that any customer who place an order in that foreign currency receives that price for the product. (Each currency can have its own Default price in the pricing matrix.) Note:
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The matrix supports one base price per currency type. Therefore, in the scenario above, the Euro price cannot be a percentage of the US Dollar base price, and vice versa. To derive a price in one currency based its price in another currency, use |
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the Derived From Currency |
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field on the Prices record' |
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s Currency |
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tab. See Creating a Derived Currency Price or Creating a Derived Foreign Currency Pricing Matrix |
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for details. |
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Creating a Derived Foreign Currency Pricing Matrix Creating a Derived Foreign Currency Pricing Matrix
Creating a Derived Foreign Currency Pricing Matrix
| Creating a Derived Foreign Currency Pricing Matrix | |
| Creating a Derived Foreign Currency Pricing Matrix |
Another way to configure products that can be taken and paid for in a foreign currency is to derive the foreign currency price from a price in the functional currency. For instance, if your organization records transactions in US dollars, to determine the price of Widget A in Japanese Yen at the time of the purchase, the flexibility exists to derive the Japanese Yen price by converting the US Dollar price to Japanese Yen at the time the order is taken and paid using the most current currency spot rate. The following matrix demonstrates the data required to derive a Japanese Yen price or a Canadian Dollar price when only a US Dollar price is defined.
Name | Price | Description | Member Type | Type | Currency Type | Derived Currency From | Default |
US Dollar Price | 100 | US Dollar Price | Member | Regular | US Dollar |
| Yes |
Japanese Yen Price | 0 | Derived Japanese Price | Member | Regular | Japanese Yen | US Dollar | Yes |
Canadian Dollar | 0 | Derived Canadian Dollar | Member | Regular | Canadian Dollar | US Dollar | Yes |
This matrix assumes that spot rates for the Yen to US Dollar and Canadian Dollar to US Dollar exist in the system. If not or if the system is unable to derive the price using a cross rate, the system will display zero as the price.
Note that if the matrix has a single price for a foreign currency, you may want to set that price as the currency's default to ensure that any customer who place an order in that foreign currency receives that price for the product. (Each currency can have its own Default price in the pricing matrix.)