Price Record - Handbook
Business Use Case
When the Sales Rep finishes the negotiation with a customer, and the offer is approved and becomes a deal, the Sales Manager needs the negotiated conditions to be stored in an ERP/CRM system, so that they can proceed with ordering, invoicing, packaging, shipping, etc.
The Sales Manager wants to analyze the negotiated deals - for example to make a Compliance analysis.
Concept
Solution for the Business Use Case
To export the Quotes to an external system, it’s handy to convert them first to a Price Record, because:
It has a simpler data structure than Quote Line Item.
Usually you do not need to export all the information from the Quote Line Item, which was needed for negotiation. For export, you need only a fraction of the information.
For Compliance analysis, you will likely need to bring the Quote Line Item data to Analytics to a Data Source table. As the system creates the Price Records automatically for Quotes converted to a Deal, it will be easier to copy Price Records to a Data Source.
What is Price Record
Price Record is a data entity which represents prices or other conditions negotiated with a customer. It is used in Quoting and Agreements & Promotions modules.
It’s used for export of the Data into external systems and also for processing/analysis inside of Pricefx.
Creation of a Price Record in Quote Lifecycle
When a Quote is approved in Pricefx, it turns into status “Offer”. In this phase the Sales Rep exports the Quote to PDF and sends the PDF to customer for approval.
Once the customer confirms that it’s ok, the Sales Rep converts the Quote to “Deal”, which means that the Quote is mutually approved by both parties.
Because such approved Quote should be also in the ERP system, we need to export it to ERP. But since the Quote is a complex document and the amount of data fields being exported is usually very small, the Quote lines are converted into Price Record (PR) rows. The conversion is done automatically, but the default conversion includes only the out-of-the-box fields and does not include your own calculated results of the Quote line items or inputs. That’s what you have to set up.
Such PR rows are then exported by Integration Manager to the external system.
Content of a Price Record
So, for a Quote, the Price Records are created automatically after a Quote is approved by the customer and document state changes to "Deal".
The content of a Price Record comes from several sources:
From Quote header:
Default fields like UniqueName (i.e., ID), Effective and Expire dates, and CustomerId.
From Quote line items:
Default fields like sku, label.
Values of input fields (the inputs were created by the logic, and values entered by user).
Values of output/result fields (the values were calculated by logic, and then stored on the line item).
Data Model
Each Quote Line Item is mapped to one Price Record.
The fields attribute1..30 are used to store values of inputs and outputs of the line items.
Configuration
The only thing you need to configure is the mapping from the Quote Line Item’s inputs and outputs to the Price Record’s attribute columns.
The mapping is set up by matching the name of an input/output of a line item to a name of the attribute field of the Price Record.
Quote Line Item input/output names
To find those names, either examine the data in the QLI table, or you can review the logic, which was used to create/calculate the Quote Line Items.
Price Record field names
You need to change the name (NOT the label) of the field, by using the "Rename and Customize Column".
References
Documentation
Knowledge Base
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