Products & Pricing

Products consist of Data Sources that are sold as a package to customers. Products have associated subscription terms and fees, overage rates, quotas, SLAs, and more attached to them.

Overview

Products are used to apply pricing and billing rules to usage created via data Sources. Once a product is built, you can assign one or more Subscribers to the product by creating a Subscription.

When configuring a product, the default options allow you to define a recurring charge, determine the invoicing periods (i.e. how often invoices are generated), define pricing for different volumes of usage, whether you wish to invoice in advance or arrears, and how Subscribers will pay for the product.

The product configuration form also includes a number of optional configurations that can be added by checking the appropriate box in the creation form.

Pricing for Products

Basic pricing rules are established by creating pricing tiers as shown below. In this example, subscribers to this product will pay a Recurring Charge of 100 per invoice period, and usage charges will vary depending on the number of transactions. In addition, you can choose whether each transaction is charged based on the tier it falls in or whether a Subscriber receives the price of the highest tier for all transactions once a higher tier is reached.

If you wish to create a price model without price tiers, you could also create just one tier. In this model, each transaction would be charged a flat fee regardless of volume.

This is the most basic pricing structure supported by Revenium. Many additional complex pricing configuration options are explained below.

Required Product Attributes

Metering Elements for Complex Pricing Plans

Metering Elements must be created prior to adding them to a product.

Metering Elements allow you to modify the amount charged based on key value pairs received in the transactions sent to Revenium (i.e. to enable usage-based charges that scale based on metrics other than transaction counts).

When adding Metering Element charges to a product, you can choose from the following charge models.

Element Charge Models

Optional Product Attributes

Optional Attributes
  • Default Notification Recipients: This field is typically used to send copies of customer notifications to an internal product owner or distribution list. If configured, recipients here will receive copies of notifications that are sent to all subscribers to this product (such as quota notifications, invoice notifications, and others)

  • 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 average rate once the quota is reached). Note that quota enforcement is dependent on the type of Revenium Connector type chosen. Please contact us for questions on how to enable quotas for a specific connector.

  • 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 subscriber notifications can be configured for each Subscription 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 Charge Per Invoicing Periods: Defines the amount (if any) that will be charged in each invoicing periods.

  • Invoice Timing: This field allows you to choose whether recurring charges are invoiced at the beginning or end of each invoicing period. (note that if you choose to have clients pre-pay recurring charges then any setup fees must also be pre-paid)

  • Include free trial? If this option is selected, all Subscriptions 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 Subscription 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 subscriber will receive no notification before the Subscription converts to the paid version of the product.

  • One-time setup fee: If you enter an amount in this field, new subscribers will be charged a setup fee according to the options set below.

    • Charge setup fee per Subscription - If this option is chosen, every new Subscription that is created will charge the setup fee. If the same client subscribes more than once to a product, they will pay a setup fee each time.

    • Charge setup fee per Client - If this option is chosen, every new client that signs up for the product will pay the setup fee. If the same customer subscribes more than once to a product, they will only pay the setup one time.

  • Custom Pricing Rules allow you to select a previously configured Pricing Rule that will apply for Subscriptions issued under this product.

Configuration for Products Sync'd with API Gateways

API Gateway Synchronization

Revenium supports synchronizing products that are created to API Gateways. This allows you to publish products that are created in Revenium to supported gateways and API storefronts for purchase by end subscribers.

  • APIM Provider: (note that the choice made here cannot be changed once the product is saved)

    • Create a linked gateway product: Select from a previously configured APIM provider. Using a linked gateway will allow API product owners to choose from Sources that have been synchronized from that gateway and allow for the automatic creation of products in a supported gateway once saved in Revenium.

    • Create an unlinked gateway product (default): in this case, the API product is manually created in a supported gateway and optionally linked using the "External ID" field that is explained below.

  • Gateway Environment: If you selected the linked gateway product above, then this field will allow you to choose which environment you wish to deploy your product (i.e. Staging vs. Production) after saving it in Revenium. (this cannot be changed once saved)

  • External ID: this field allows you to manually link this product to an external gateway so that it can be dynamically displayed in a supported commerce portal like Anypoint Community manager from MuleSoft. More information available here.

  • External Display Name: This field configures how a single instance of your product will be displayed to subscribers in a commerce portal (i.e. if you have a hosted version of your product both in Europe & in the USA, you would define each here so that end subscribers know which to select when purchasing & using your API products). This cannot be changed once saved.

  • 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.

  • Sources: choose the data sources that are bundled into this product. If you created a linked gateway product above, this list will automatically filter the correct Sources from your gateway environment that are available for product bundling. If not, you can manually choose from any configured Sources in Revenium.

  • Product Rate Limiting: This option is currently available only in MuleSoft linked gateways. 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 subscribers 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.

  • SLA Definition: Allows you to choose a previously created SLA to associate with this product.

  • Provider Notification Address: The addresses configured here will receive all notifications related to the product (i.e. when new Subscriptions 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 subscribers. Note that end subscribers notifications can be configured for each Subscription that is created for a product.

  • Tags: define tags as are useful for your own use case.

Configuration for Products Linked to Digital Storefronts

The configurations in thi ssection are only necessary if you are publishing products to a linked Storefront (i.e. a developer portal with embedded monetization capabilities).

Creating Free Products

It is also possible to create products with no associated pricing. This is sometimes useful in scenarios like this:

  • for internal reporting purposes

  • to generate the additional analytics that come from products versus from API Sources alone.

  • to limit usage of a Product in a free tier by enforcing quotas without costs

To create a free product, you simply do not enter pricing for usage and configure all other options as you normally would. Depending on your use case, you may wish to disable the option to "Send Invoices to Subscription Owners" for free products.

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