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
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.
Unique identifier for the product
Display name for the product
Code used in CRM to identify this product.
Family of the product, can be used to report on a group based.
Type of the product
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.
The actual amount for which the product is sold.
Billing period for which the list price is provided.
Unit of the billing period, /months, /years or /quarters
Currency in which this product will be sold.
Rule for service delivery dates for this product.
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 in month for which the service will be provided. If term is provided delivery end date is not required.
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
See section "General" in Primary Product above.
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