Product Catalog Management and Pricing Management release notes
Summarize
Summary of Product Catalog Management and Pricing Management release notes
The Australia release of ServiceNow® Sales CRM enhances the Product Catalog Management and Pricing Management features, enabling organizations to better create, manage, and price product offerings and catalogs. These improvements support sophisticated pricing strategies, multilingual product catalogs, and enhanced pricing APIs, helping sales teams maintain competitive and accurate pricing throughout the sales cycle.
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Key Features
- Support for Custom External IDs in Pricing API: Pricing requests can reference product offerings, price lists, and units of measure using external IDs or codes instead of ServiceNow sysids, facilitating integration with external systems.
- Renewal Pricing with Price and Quantity Ramps: Calculates renewal pricing for products with varying price and quantity ramps using multiple uplift methods.
- Derived Pricing Enhancements: Improved control and visibility over pricing of derived products, including use of adjustment records, predefined formulas (SUM, AVG, MIN, MAX), and pricing floor and ceiling controls to maintain acceptable price ranges.
- Attribute-Based Pricing: Enables pricing based on combinations of product attributes, allowing agents and customers to view prices that reflect multiple attribute adjustments.
- Multilingual Product Catalog Support: Key product catalog fields support multiple languages, improving usability for global teams.
- Product Families: Create hierarchical classifications to aggregate items like revenue forecasts for better reporting and business insights.
- Manual Pricing Adjustments: External systems can pass manual pricing adjustments directly in API requests for more flexible pricing calculations.
- Blended Pricing for Renewals: Automatically calculate blended unit prices for contract renewals, supporting upsell, down-sell, and contract consolidation scenarios.
- Pricing Interface Enhancements: Product tiles now indicate when pricing is derived and dynamically updated, improving clarity for sales agents.
Important Upgrade Information
With Pricing Management v16.0.0 in this release, a default pricing plan supports new pricing strategies. Custom pricing plans from earlier releases are retired after upgrade; customers should decide whether to publish or customize the default plan post-upgrade.
Activation and Related Applications
Product Catalog Management and Pricing Management are included with the Sales Customer Relationship Management store applications and require no separate activation. Additional pricing and eligibility matrix features are available via the Product and Pricing Rules application from the ServiceNow Store.
Related applications such as CPQ Configurator, Quote Management, and Sales Agreement Management complement these features by streamlining configuration, quoting, and agreement processes.
The ServiceNow® Sales CRM 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
- In the Sales CRM Pricing API, support pricing requests using custom external IDs or codes for objects such as product offerings, price lists, and unit of measure instead of ServiceNow sys_ids.
- Support pricing calculations for renewals of products with price and quantity ramps.
- 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
- Support manual pricing adjustments in the Sales CRM Pricing API
- Pass manual pricing adjustments as part of a pricing request payload using the Pricing API. External systems can include adjustment values directly in a pricing run, rather than fetch manual adjustments from the pricing database when running pricing calculations.
- Support external IDs in the Sales CRM Pricing API
- Submit pricing requests that use custom external IDs or codes to reference objects from external systems, such as product offerings, price lists, and cost books. Set a request-level flag that indicates external IDs are to be used for these objects rather than sys_ids. For additional information, see External ID support in Sales CRM Pricing API.
- Renewal pricing for products with price and quantity ramps
- Calculate renewal pricing for products with price and quantity ramps, using per year, per term, and price only uplift calculation methods.
- Derived pricing support for sold products
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- Use the
DerivedProductPriceExtensionPointextension to determine whether a source line for a quote or sold product and a target line are pairs. - Use the
getAccountLevelDerivedPricedProductsLookupData(pricingEngineContext)method to control the records scanned by the pricing engine to determine account-level derived prices for sold products. - The pricing engine does the following:
- Displays a message indicating when a change to a source product affects the price of a derived product.
- Checks product offerings and excludes product offerings with child offerings from derived pricing.
- Use the
- 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 specifying prices for target product offerings and using 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 avoid pricing that isn't competitive or results in poor margins.
Activation information
The Product Catalog Management and Pricing Management features are included with Sales Customer Relationship 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 matrixes 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.