How to Manage Price Records

How to Manage Price Records

In this tutorial we'll be exploring price records for previously approved Agreements in Pricefx.

When an agreement is approved, a price record is created for each product against the corresponding customers account.

These are stored in the Price Records section of our Agreements and Promotions module.


How To

Manage Price Records

All our how-to guides and video tutorials contain screenshots of our demo system and the information that you see will differ depending on your organizational configuration and the version of Pricefx software that you are running.


Today you'll be exploring price records for previously approved Agreements in Pricefx.

When an agreement is approved, a price record is created for each product against the corresponding customer's account.

These are stored in the Price Records section of the Agreements and Promotions module.

Navigate to Price Records

To locate these you'll head over to the menu, select Agreements and Promotions and then click on Price Records.

And now you're presented with a list of price records for each product along with some additional information.

You can see here are the records for Agreement Number C-194 and you can see when it was created, last updated as well as the product and customer grouping.

If you now wanted to see the specifics of this record, you could head back to the menu and click on Agreements and Promotions and then locate the agreement with an ID of C-194.

In Price Records, you can now scroll to the right and see what other information you have at your fingertips.

Remember that the information you will see might differ depending on your system configuration, and as this is our demo system some of the information may not appear correctly or may not be available at the time of recording this tutorial. The first group of columns I'm going to mention is standard and then there are up to 30 attribute columns that your organization will have customized to suit your own business environment.

Let's begin with the Source ID, as mentioned before, this is where you'll find the agreement details. However, if the agreement had been revised and allocated a new number then in the next column, Source ID w/o Revision, you would see the original agreement ID.

Next is the Line ID which is the source ID for this Price Record Line and is used as an identifier when exchanging information with different systems and is a useful unique id for troubleshooting pricing queries as it clearly identifies the exact record from which the price is derived.

The Created and Last Update columns provide time and date stamps and the Status indicates whether this is active, revoked, or invalidated. So here you can search for non-active price records too.

Product Name gives you information on the Condition Type that governs the calculation of this price record.

Customer ID is the ID of the customer for whom this line is valid. If this field appears blank, it is because the agreement covers the Customer Group.

 

Product ID or SKU along with the Product Group allow you to filter either to review pricing by product across your customer or product groups.

Priority – Can be used to solve problems with overlapping Price Records – i.e., when you have two promotion conditions for the same customer and product at the same time. You can update the priorities here. The lower the number the higher the priority.

Valid After shows The first date of the validity of this record. While Expiry Date shows the last date this price will be valid.

External Reference – This could be used, for example, to link the agreement to a specific Order ID in SAP. So when the Sales Reps create an agreement, they enter the Reference number and it is then passed via this field into the external system.

So that concludes the standard columns of information available. The remaining are configured internally and are determined by your organizational strategy, the data available in the system as well as the pricing modules that are installed. So the walk-through on the screen here will look different than the screen on your system. 

And finally, you can export the information to Excel for further analysis or to share with a customer.

That concludes our tutorial on how to validate the agreement price records. If you're interested in learning more about the power of Agreements and Promotions, you can watch some of our other tutorials in our knowledge base.