Overview

Pricing Rules in iVendNext are a powerful tool that allows businesses to customize discounts, promotions, and special pricing based on specific conditions. Whether you want to offer bulk discounts, seasonal promotions, or special prices for specific customer groups, Pricing Rules provide the flexibility to automate and manage these pricing strategies effectively. This article will guide you through the concept of Pricing Rules, how to create and manage them, and practical examples of their application.

What are Pricing Rules?

Pricing Rules in iVendNext are predefined rules that automatically apply discounts or special pricing to items based on specific conditions. These conditions can include factors such as quantity, customer groups, item groups, or even the total amount of a transaction. Pricing Rules help businesses streamline their pricing strategies, ensuring that discounts and special prices are applied consistently and accurately.

For example, you can create a Pricing Rule that offers a 20% discount on an item if a customer purchases more than 10 units. Alternatively, you can set a special price for a specific customer group or apply a discount based on the total transaction amount.

How to Create Pricing Rules

Creating Pricing Rules in iVendNext is a straightforward process. Here’s a step-by-step guide:

1. Accessing the Pricing Rules Section

Navigate to Home > Accounting > Pricing Rule to access the Pricing Rules section.

2. Creating a New Pricing Rule

1. Click on the New button to open the Pricing Rule creation screen.

2. Set a Title: Enter a title for the Pricing Rule (e.g., "Bulk Discount on Item A").

3. Select What to Apply On: Choose whether the rule applies to an Item Code, Item Group, Brand, or Transaction.

4. Select Discount Type: Choose between Price Discount or Product Discount.

• Price Discount: Apply a discount on the item’s price (e.g., 10% off).

• Product Discount: Offer free products (e.g., "Buy 2, Get 1 Free").

5. Set the Discount or Price: Enter the discount percentage, fixed discount amount, or special price.

6. Save: Click the Save button to save the Pricing Rule.

Applying Pricing Rules Based on Conditions

Pricing Rules can be applied based on various conditions, such as quantity, customer groups, or item groups. Here’s how you can set up these conditions:

1. Quantity-Based Pricing Rules

You can create Pricing Rules that apply discounts or special prices based on the quantity of items purchased. For example:

• Bulk Discount: Offer a 20% discount if a customer purchases more than 10 units of an item.

• Tiered Pricing: Set different prices for different quantity tiers (e.g., $10 per unit for 1-10 units, $8 per unit for 11-20 units).

2. Customer Group-Based Pricing Rules

If you want to offer special prices or discounts to specific customer groups, you can create Pricing Rules that apply only to those groups. For example:

• Loyalty Discount: Offer a 15% discount to customers in the "Loyalty Program" group.

• Corporate Pricing: Set a special price for customers in the "Corporate Clients" group.

3. Item Group-Based Pricing Rules

You can also create Pricing Rules that apply to specific item groups. For example:

• Seasonal Promotion: Offer a 10% discount on all items in the "Winter Collection" group.

• Clearance Sale: Set a special price for all items in the "Clearance" group.

4. Transaction-Based Pricing Rules

Pricing Rules can also be applied based on the total amount of a transaction. For example:

• Spend More, Save More: Offer a 5% discount on the total transaction amount if the customer spends more than $500.

• Free Shipping: Offer free shipping if the total transaction amount exceeds $100.

Advanced Features of Pricing Rules

iVendNext offers several advanced features for Pricing Rules, allowing businesses to fine-tune their pricing strategies:

1. Mixed Conditions

You can create Pricing Rules that apply based on mixed conditions. For example:

• Combined Quantity and Customer Group: Offer a 10% discount if a customer in the "Loyalty Program" group purchases more than 5 units of an item.

2. Cumulative Discounts

You can enable cumulative discounts, where the discount is applied based on the total quantity or amount purchased over multiple transactions. For example:

• Cumulative Quantity: Offer a 15% discount if a customer purchases a total of 50 units of an item over multiple transactions.

• Cumulative Amount: Offer a 10% discount if a customer spends a total of $1,000 over multiple transactions.

3. Validity Dates

You can set validity dates for Pricing Rules, ensuring that discounts or special prices are only applied within a specific time frame. For example:

• Seasonal Promotion: Offer a 20% discount on winter items from November 1 to January 31.

Practical Examples of Using Pricing Rules

Some Pricing Rule examples are summarized below: 

Example 1: Bulk Discount

Imagine you want to encourage bulk purchases of an item (e.g., WB-1001). You can create a Pricing Rule that offers a 20% discount if a customer purchases more than 10 units. During a sales transaction, the system will automatically apply the discount if the condition is met.

Example 2: Loyalty Program Discount

If you have a loyalty program for your customers, you can create a Pricing Rule that offers a 15% discount to customers in the "Loyalty Program" group. During a sales transaction, the system will automatically apply the discount for customers in this group.

Example 3: Seasonal Promotion

If you’re running a seasonal promotion on winter items, you can create a Pricing Rule that offers a 10% discount on all items in the "Winter Collection" group. The discount will automatically be applied to all eligible items during the promotion period.

Important Points to Remember

• Priority: If multiple Pricing Rules apply to the same item or transaction, the rule with the highest priority will be applied first.

• Validation: You can validate Pricing Rules to ensure that the correct discounts or prices are applied during transactions.

• Disabling Rules: If a Pricing Rule is no longer needed, you can disable it by unchecking the "Enabled" checkbox. Disabled rules will not be applied during transactions.

Conclusion

Pricing Rules in iVendNext are a powerful tool for customizing discounts, promotions, and special pricing. By understanding how to create and manage Pricing Rules, businesses can automate their pricing strategies, ensuring that discounts and special prices are applied consistently and accurately. Whether you’re offering bulk discounts, loyalty program benefits, or seasonal promotions, Pricing Rules provide the flexibility and control you need to manage your pricing strategy effectively.