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LEARN MORE: Check out the latest release on Agreements and Promotions, here. |
Utility of Agreements & Promotions
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Companies may offer different promotions for several reasons, for example, to keep the loyalty of existing customers, to attract new customers to the business, to move old products out of inventory, for special marketing campaigns, among others.
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Pricefx offers the right functionality to create, maintain and track your promotions and discounts and their impact on your pricing, revenue, and margin.
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Pricefx
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Help with
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Promotions
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Management
Agreement The Agreements & Promotions functionality offers the following capability offers a range of features to support your business:
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, including the management of discounts at different customer/product levels
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, the setting and rollout of price promotions and campaigns
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, and the calculation of net prices in connection with
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ERP backend system
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structures. Additionally, it enables the calculation and setup of various special price conditions
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, the establishment of a transparent and manageable discount system
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for
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sales activities on local and global levels
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, and access to analytics on discount impacts and margin leakages
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. There are two common ways of setting up agreements & promotions: Framework and Individual approaches.
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Typical Business Scenarios
The Agreements & Promotions functionality can be used for the following scenarios:
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a variety of scenarios. This includes providing regional and seasonal discounts for different
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customer segments, offering standard discounts for a
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specific product group that should always be
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added for
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volume
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purchases above
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a certain number of units
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, ensuring that the subsidiaries of our umbrella customer
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automatically receive the
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negotiated discounts, and limiting the use of discounts that impact margins and profitability.
Promotions Key Functionality
The scope of the Agreements & Promotions functionality scope available:includes the ability to manage condition term types using logic with predefined elements/parameters, create and maintain agreements, perform agreement calculations, execute approval workflows, manage and track discount records, and utilize agreement and promotion insights in other Pricefx functionalities. Here’s a faster view of the key capabilities.
Manage condition term types using logic with predefined elements/parameters
Create and maintain agreements
Perform agreement calculations
Execute approval workflows
Manage and track discount records
Use agreement and promotion insights in other Pricefx functionalities
Condition
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Types
There are different ways of calculating your discounts in the agreements, they are represented as Conditions Types in Pricefx. Each discount type will have associated a pricing logic to perform the correct calculation.
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Agreement
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Creation
The first step in the Promotions process is the creation of the Agreement, which will be linked on the condition type previously defined. You can have as many agreements as your business requires.
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Price
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Records
When your discounts are approved, a price record is created for each promotion agreement. They are displayed in the Price Records section:
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Mass
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Updates
The Using Agreements & Promotions functionality allows:
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enables default discount calculations to update agreement promotions with new changes
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, automatic discount input updates
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, mass submission of promotion agreements
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, promotion updates selection by user-defined generic filters (draft/approved)
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, and background job scheduling for mass processing via Calculation Flow.
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Where to
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Start with Promotions
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Pricefx offers predefined algorithm logic to perform any type of promotion agreement calculations. You just need to provide the following information:
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