More product options in TRACT

TRACT

Billing and revenue management platform for XaaS and IoT

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More product options in TRACT

Video Transcript

Speakers in this video: Jimmy (GetApp) and Dan (TRACT)

Dan: If we hop into a service that is created, Coffee Club Membership. Here we're on the product page. Really a product page only needs to be accessed once or once in a while essentially when your product folks are setting up the product within Tract. Here we see a number of parameters, a number of attributes about this specific subscription. If I just hover over action, I want to hit the Edit screen just so you can see some of these are set up.

So here we have a field where you can enter in the name as well as a short description for that and a type of long description as well. It should be noted that any of these fields, Tract will support any length which is well. Again, setting the product categories. We also have very flexible introduction and sales discontinuation dates. These can be set in the future or past as well. Or if you want to create a specific time window maybe a product is only available on a specific time window. Is a product unique or not? Is an agreement mandatory when it is sold? That's an option. As well as rule override option that I have a box checked as well for essentially any type of rule associated with this product depending on my role, maybe I'm allowed to overrride that, something like a price or some other factors about this product that I can override.

We also support tapered as well as tiered type of pricing. Tapered being more difficult to pull off as well. That's a nice differentiator for Tract as well. Also, we can set trial periods and you can have a default period of days for that trial. Again, we can have the option to override that at the time of order. One other thing we see here is service identifier category. This is particularly useful if any of your products are being charged or monetized based on usage such as this coffee membership is that we'll get into. Essentially, you want to assign each one of your accounts a specific type of number or identifier so that you can track the usage, so that Tract can rate and process that usage as well.

So, if you think of your cellphone service that you have with Verizon or AT&T or one of those other carriers, essentially your phone number is your service identifier and that is how your identifier track your phone usage. So think of it on those terms. So if we scroll down, we see some standard prices. For our purposes here today, I just have one standard price here, recurring monthly charge of $10. That's for the base membership here for the Coffee membership. We can add as many different types of recurring charges as we want. If you remember from the slide earlier saying each product can maintain multiple different recurring periods and currencies as well.

So, if we go ahead and actually click on this recurring charge, we see a number of information about this as well. The from and thru date is recurring charges applicable. Do I have the ability to override the price at the time of order? As well as the currencies. So, again if I go to Edit screen just to show you some of these options and how it's setup. Again, we support a vast number of currencies. These are the ones that I have activated or enabled for this demo. But we have a number of options as well. Do I want to have the ability to prorate on this on the order or prorate on cancelled, the ability to override price, multiple recurrence as well.

So we can have daily, weekly, every two weeks, twice a month, monthly, quarterly, twice a year, annually, every two years, three years, four years, five years so all these different options for recurrence period as well as bill cycle. So what type of bill cycle is the customer on and their recurrence period will coincide with that as well. So you have all these differene options as well as pay on purchase, auto payment being required as well scheduled charges. If you have some sort of milestone billing in place or you have some sort of agreement in place with a specific customer where they pay X dollar amount upfront, X percentage upfront and then you can sporadically spread out the other amounts that they pay.

Now, this being a usage based product, we also have some activity charge rules. Again going into that allowancea and coverage type situations, so I pay a monthly fee of $10 for this base service and with that, I have an allowance. So I get 30 counts or in this case, 30 cups of coffee. After those 30 cups I can go into overage situation. And we see the ability to set this up, there are multiple ways you can setup these rules where match all events - so any event that Tract receives based on specific amount of measure is going to rate it as however you have it set or if you have a formula. Essentially, when Tract receives a usage file, there are a number of fiels that it would be looking for reading these ones that I have in the dropdown. So, you can have that functional Text to 1 equals something , you're going to charge it or Text to 1 is greater than or equal to some sort of lookup.

So you have a lot of flexibility on how you want to rate as well as global rules. So we have various complex rules that can be configured as well. Those with very specific use cases depending on what your usage and how you bill for those are. Essentially I could say, I'm going to charge 10 cents per minute and I can have that recurring for 10 minutes and then I can create another layer where I can say, "Okay, maybe for the following 10 minutes I can do it at 8 cents." Or something like that. Or you can just have recurring based on the recurrence of this product, in this case monthly, so every month they get 10 cents per minute for 10 minutes or just one time or you can have it unlimited. So the entire month, it's 10 cents per minute. And then, you can have some rule over options as well and again, the prorate options as well as, valid from and thru dates for this specific charge rules. Again, maybe you're a type of company that has peak times of years, maybe you're a technology company that sells software and hardware so maybe you're thinking about Black Friday and Cyber Monday sales so you have particular rates during specific types of times of the year and so forth. As you could see here there are a lot of flexibilities on how you want to use this.