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In Revenium, Products are bundles of Assets that are sold as a package to customers. Products have associated subscription terms and fees, overage rates, quotas, SLAs, and more attached to them.
- 1.Search for the 'Products' link in the navigation menu.
- 2.After clicking on the Products link, the Products dashboard appears (Figure 1).
Figure 1. Products dashboard
- 1.Click on the Products create button, located in the upper right corner (Figure 3).
- 2.After clicking on the Products create button, the Products form appears (Figure 4a, Figure 4b, Figure 4c).
- 3.Fill in the required inputs on each page and click on Save to create a new Product. Below is an explanation of the fields available during product creation.
- Product Name: used by front-end commerce portals to display the name of your product to end users
- Product Version: allows you to keep a history of product changes by versioning new products as they are created. In order to properly synchronize products in Revenium with third party gateways, product versions must use the following format: x.x.x (i.e. 1.1.0, 1.0.0, 1.2.3)
- The Product Quota field defines a limit on the number of transactions to be enforced. Depending on the payment model chosen, the behavior of this field differs (either to absolutely block traffic once the quota is reached or to begin rating transactions at the overage rate once the quota is reached)
- Default Quota Notification Threshold allows you to set a percentage of the maximum transactions when a notification will be sent to the configured e-mail addresses chosen in the Provider Notification Addresses field on page 2 of the product creation process. Note that end user notifications can be configured for each Product License that is created for a product.
- For products using volume-based pricing, a notification will be sent when this percentage is reached for each tier in the plan. For example, if a volume-based plan had a 50% notification threshold set, and included tiers with prices that changed at volumes of 200, 500, and 1000 transactions, a notification would be sent at 100 calls, 250 calls, and 500 calls (50% of each volume tier limit).
- Recurring Subscription Fee: Defines the amount (if any) that will be charged at the beginning of each settlement period.
- Allow immediate cancelations and pro-rated invoices? :
- By default, product licenses that are deactivated will remain valid until the end of their existing settlement period. This means that customers with a monthly settlement period cancels a product license in the middle of the month, they will continue to have access to their products through the end of the settlement period and pay for the entire period.
- However, if you select the 'allow immediate cancelations' option, as soon as an associated product license for this product is canceled, it will take effect immediately, and a pro-rated invoice will be created to charge only for the time of the subscription prior to cancelation.
- Include Free Trial? If this option is selected, all product licenses created for this product will default to include a free trial period of the duration specified. Free trials automatically convert to the paid version of the product after the trial period expires if they are not canceled during the trial period.
- Notify customer before end of trial? If this option selected, the owner of the product license will receive a notification 24-hours before the end of the trial period reminding them that their trial will automatically convert to paid if not canceled. If this option is not selected, the user will receive no notification before the product license converts to the paid version of the product.
- Settlement period determines how often an invoice is generated for the Product. Note that the settlement period for a product cannot be changed after the product is created. Lastly, there are two options included for product testing that may not be completely intuitive, so they are explained further below:
- 5 Minutes (no synthetic transactions) - for one hour, this will open and close a settlement period every 5 minutes for every active Product License under this product. This will generate customer notifications and invoices each five minutes so that you can test that everything is working as expected without waiting for actual settlement periods to close.
- 5 Minutes (randomized synthetic transactions) - this option behaves identically to the previous option, but in addition, a randomized number of transactions will be simulated for assets included in the products throughout the one-hour period so you can check how charges are applied to randomized usage scenarios and ensure your product's payment model is configured as you intended.
The configurations in the expandable section below are only necessary if you are publishing products in a linked commerce portal. If this is not your use case, unlinked gateway products should be created (which is the default), you can ignore all of the optional configurations in this list.
- Product Code: This field is used to map revenue from this product to integrated ERP systems. Enter your internal identifier here that is used to associate revenue appropriately within your financial system.
- Assets: choose the assets that are bundled into this product. If you created a linked gateway product above, this list will automatically filter the correct assets from your gateway environment that are available for product bundling. If not, you can manually choose from any configured Assets in Revenium.
- Note that when changing the assets included in a product linked to a gateway, you must also upgrade the version of the product to the next major version (i.e. from 1.3.2 to 2.x.x). This same product version will be applied in the gateway to avoid conflicts with previous versions.
- Product Rate Limiting: This option is currently available in MuleSoft linked gateways only. This section allows you to define a traffic throughput limit as a part of the Revenium product.
- Rate Limit Name: a name for the rate limiting policy that will be visible to end users during the checkout process. i.e. "Gold Policy"
- Max # of Requests Per # of units of time (define as needed)
- Example Configuration: 100 requests per 10 minutes
- Rate Limit Description: This description is for internal purposes only to further describe this rate limiting policy.
- Provider Notification Address: The addresses configured here will receive all notifications related to the product (i.e. when new product licenses are issued, when invoices are issued, and when customer quotas are reached). This field is meant for API product owners or other API provider employees, not for end users. Note that end user notifications can be configured for each Product License that is created for a product.
- Send Invoices from Revenium to Product License owners: By default, this option is selected. In general, only unselect this box if you are set up to provide your own invoicing based on usage data exported from Revenium.
- Tags: define tags as are useful for your own use case.
- This page is dedicated to information that will be exposed in a linked Commerce Portal to end users who are considering purchasing your offering.
- The various terms & conditions options on this page allow you to expose multiple required acceptance boxes when checking out to purchase a product (i.e. privacy agreement, contract terms, etc.)
- The short and long descriptions are shown in different places in linked commerce portals so that end users can see a brief summary in a catalog listing and full product details once they navigate to a specific product.
- After clicking on the Save button, the changes will be saved.
Figure 3. Create New Product
Figure 4a. Product create form (Step 1)
Figure 4b. Product create form (Step 2)
Figure 4c. Product create form (Step 3)
- One Time Charge: The amount entered in the Fixed One-Time Cost field will be charged on purchase.
- Transactional: Allows a rate to be charged per transaction. This rate is defined in the Rate charged per Transaction field and the total fees are charged at the end of each Settlement period.
- Subscription: Allows the amount configured in the Recurring Subscription Fee to be charged per Settlement Period. This amount is charged at the end of each Settlement period.
- Subscription + Overage: Allows a fixed amount to be charged per Settlement Period with an optional number of transactions included in the plan under the costs of the fixed charge. Transactions exceeding included transaction amount will be charged at a rate defined in the Overage rate per Transaction field. Both the fixed amount and any overage fees are charged at the end of each Settlement period.
- Volume-Based Pricing: This is the most flexible pricing model and allows all of the pricing options possible in Subscription + Overage products, plus the ability to charge for your product in volume-based tiers. (i.e. transactions 0-100 cost .10 / call, transactions 101-200 cost .05 / call, etc.)
Clicking on the eye, pencil, or trash can icons located in each row of the Product listing will allow you to view, edit, or delete existing Assets respectively.
Please note that Products with active product licenses cannot be deleted.
The top search bar in Figure 11 shows where a user can search products by the product name or settlement period.
Additionally, as an admin user, the option to filter the list of Products by owners is available. Search the owner's name in the Owner search bar (Figure 16) and the table will be updated with the Products owned by that user. Admin users will see an option to view all Products assigned to the current organization.
Lastly, use the toggle next to the owner filter to view all products, or only those products published to third party commerce portals.
Figure 11. Product search and filters