Product Catalog Management and Pricing Management release notes
The ServiceNow® Sales and Order Management applications include the ServiceNow® Product Catalog Management and ServiceNow® Pricing Management features, which enable you to create and manage the product offerings, catalogs, pricing, and discounting strategies used in your organization. These foundational features were enhanced and updated in the Australia release.
Product Catalog Management and Pricing Management highlights for the Australia release
- Enable sales agents to create custom price and quantity ramps with segments of varied durations tailored to customer agreements.
- Provide visibility into how the final price for a derived product is determined using adjustment records.
- Set up pricing floor and ceiling controls for product offerings to keep pricing within acceptable ranges.
- Use standard predefined formulas (SUM, AVG, MIN, and MAX) in derived pricing calculations to capture adjustments at each pricing step.
- Enable agents and customers to view attribute-based pricing where the product offering price is based on a combination of attributes.
See Product Catalog Management and Pricing Management for more information.
Important information for upgrading Product Catalog Management and Pricing Management to Australia
Pricing Management v16.0.0 provides a default pricing plan that includes changes to support pricing strategies introduced in this release. If you've been using a custom pricing plan from an earlier release, after upgrading to Pricing Management v16.0.0, the default pricing plan is in a Retired state. Determine whether you want to publish the default pricing plan for use or customize it.
New in the Australia release
- Product Catalog Management features
- Product families
- Create product families to provide hierarchical classification similar to category trees. For example, you can use product families to roll up or aggregate measurable items, such as revenue forecasts for reporting or business insights.
- Pricing Management features
- Multi-attribute pricing rules
- Display attribute-based pricing on transaction lines, where the offer price is determined by the combination of attributes, by setting up attribute-based pricing for product offerings based on multiple, combined attributes using the Attribute Adjustment matrix.
- Blended pricing support for contract renewals
- Enable sales agents to apply automatically calculated blended unit prices for renewals, based on the existing product price and the renewal uplift required. Blended pricing is used in upsell and down-sell scenarios and in contract line consolidation.
Changed in this release
- Product Catalog Management changes
- Product catalog interface enhancement
- Quickly identify products with derived pricing through product tiles that display a message stating that the product price varies. Pricing is calculated and updated automatically based on selections made.
- Pricing Management changes
- Derived pricing enhancements
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- The Derived Pricing Matrix supports the following enhancements:
- Conditions defined on product offering fields for both source and target product offerings
- Predefined formulas for setting floor and ceiling price controls to maintain acceptable price ranges
- Visibility into how the final price for derived products is determined.
- Support for account-level scope, which uses both cart items and sold products when calculating derived prices.
- The Derived Pricing Matrix supports the following enhancements:
- Price and quantity ramp enhancements
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- Enable sales agents to create custom ramp type segments for quotes. Agents can view the cumulative price of product offers across all ramp segments.
- View ramps inside the CPQ Configurator.
- Enable sales agents to create ramps for quotes with amendments, contract renewals, and cancellations.
- Delta pricing enhancement
- Show the delta pricing view in the CPQ Configurator during modify and amend flows.
- Configurable pricing plan enhancement
- The Floor and Ceiling Calculation step in the default pricing plan applies the minimum and maximum prices for a product or service to help prevent pricing that isn't competitive or results in poor margins.
Activation information
The Product Catalog Management and Pricing Management features are included with Sales and Order Management store applications and don’t need activation. Depending on your entitlements, you can install the Product and Pricing Rules application for pricing and product eligibility matrices from the ServiceNow Store. Visit the ServiceNow Store to view all the available apps, and for information about submitting requests to the store. For cumulative release notes information for all released apps, see the ServiceNow Store version history release notes.