Configure Product Catalog

You can configure your products in REVLOCK to match your product catalog in your CRM. If you REVLOCK site is connected directly to CRM such as Sales Force or HubSpot, REVLOCK will automatically download the product catalog. Otherwise you can create you product catalog in REVLOCK directly. There are two types of products in REVLOCK

1. Product

A product is a good or service that is sold as part of contract. Usually it would have a non-zero price attached to it. When creating a primary product in REVLOCK you will need to provide following information.

(a) General

ID
Unique identifier for the product

Product Name
Display name for the product

Product Code
Code used in CRM to identify this product.

Product Family
Family of the product, can be used to report on a group based.

Product Type
Type of the product

Is Recurring
Is this product a recurring charge that will be renewed at the end of the term.

(b) List Price

The price at which the service provider or manufacturer recommends to sell the product.

Price
The actual amount for which the product is sold.

Period
Billing period for which the list price is provided.

Period Units
Unit of the billing period, /months, /years or /quarters

Currency
Currency in which this product will be sold.

(c) Delivery

Rule for service delivery dates for this product.

Start Date
Dereferenced start date for the service. User can reference "Order Date" or any other date type custom fields which are at sales order or product level.

Term
Term in month for which the service will be provided. If term is provided delivery end date is not required.

End Date
Dereferenced end date of the service. User can reference "Order Date" or any other date type custom fields which are at sales order or product level.

2. Additional Performance Obligation

For each primary product, user can configured 1 or more additional performance obligation (PO). These POs will be automatically added to the contract each time the base product is sold. When creating a PO, you will need to provide following information

(a) General

See section "General" in Primary Product above.

(b) Delivery

See section "Delivery" in Primary Product above.

You don't need to provide List Price information for POs because when they are added to the contract, their sale price will always be zero as they are never sold. Revenue is allocated to these items based on Standalone Selling Price rules that are configured to these POs.

Updated on: 27/08/2021