This tutorial walks through how the Price Records relate to quotes, what type of information is available and how Price Records are used.
When a quote 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 Quoting module.
How To
Understand 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 quotes in Pricefx.
When a quote 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 Quoting module.
Locating Price Records
To locate these you'll head over to the menu, select Quoting 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 top 4 records for Quote Number P-294 and you can see when it was created, last updated as well as the Customer ID.
If you now wanted to see the specifics of this quote, you could head back to the menu and click on Quotes and then locate the quote with an ID of P-294.
If you filter for the quote you can now enter it and then see all the original quote information such as who created it, what Items were contained within it, and see the workflow approval.
Price Record Information
If you head back to the Price Records, you can now scroll to the right and see what other information you have at your fingertips.
Standard Information
The first group of columns 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 Quote details. However, if you look at the products down you can see P-317-V2.1. This indicates that this item has been revised and in the next column Source ID w/o Revision you can see the original Quote ID, so if you were to search in the Quote section again you'd see both versions appear when you search for P-317, and if you click on V2.1 you can see in the Status area the version details.
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.
Customer ID is the ID of the customer for whom this line is valid.
Customer Group helps you easily filter if you need to isolate records at a higher level
Product ID or SKU along with the Product group allows 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 Quote Expiry Date shows the last date this price will be valid.
External Reference – This could be used, for example, to link the Quote to a specific Order ID in SAP. So when the Sales Reps create a Quote, they enter the Reference number and it is then passed via this field into the external system.
Organizational Attributes
The remaining columns are configured by your organization internally and are determined by your organizational strategy, the data available in the system as well as the pricing modules that are installed.
You’ll walk through what's on the screen here, but your screen will be configured differently and this screen is indicative of what's possible.
If you continue scrolling you can see information from your price lists, such as the List Price, then from the quote itself you can see any discounts applied:
If you have Rebates installed you can see any off-invoice costs, you have the Case Discount, Net Price, and Costs, along with the Margin in the currency as well as Percentage, information such as the quantity quoted on, the revenue as a result, and then from the Agreements and Promotions module you can access information such as any Volume Discounts, Sales Channel Discount, Promotion Discount or Competitor Discount.
This is all fantastic information that you can also see if you head over to Analytics, where you can create a Waterfall Chart for this product and customer for 2020 and see all the different elements that make up the price using the data presented for the various module elements in Pricefx.
Additional Options
Within the Price Records section, you still have a few additional actions that you can undertake if required.
Mass Edits
Firstly you may want to change the discount on a specific product, so you filter to find the product and then select them all or only those records pertaining to a specific customer and then click on Mass Edit.
On the filter screen, you can now select the field or attribute that you want to change, such as the Cash Discount, and then select the change and input the value and determine if you want to enable rounding.
You can make changes to multiple attributes here, and when you're ready you simply click edit and it will update.
If you refresh you'll see the changes applied.
Deleting Price Records
Additionally, you can delete a record here too, however, it's advisable that if you need to make changes to a lot of Price records you might want to consider revoking the approved quote instead.
Export to Excel
Lastly, you can export the information to Excel for further analysis or to share with a customer.
