Overview

Pricing Rules in iVendNext are a powerful feature that allows businesses to automate and manage discounts, special rates, and promotional schemes efficiently. These rules help businesses attract customers, reward loyalty, and streamline pricing strategies. This article provides a step-by-step guide to understanding and configuring Pricing Rules in iVendNext.

1. Introduction to Pricing Rules

Pricing Rules are automated conditions that determine how discounts or special rates are applied to items, item groups, or transactions. They are often linked to Promotional Schemes, which are temporary discounts designed to boost sales. Pricing Rules can be customized based on various factors such as quantity, amount, customer groups, and validity periods.

Key Benefits of Pricing Rules

• Automate discounts and special pricing.

• Apply rules to specific items, groups, or transactions.

• Reward customers with cumulative or conditional discounts.

• Set validity periods for time-bound promotions.

2. Prerequisites for Creating Pricing Rules

Before creating Pricing Rules, ensure the following are set up in iVendNext:

1. Items: Products or services to which the rule will apply.

2. Item Groups: Categories or collections of items for bulk pricing rules.

3. Customers/Customer Groups: Target audiences for the pricing rules.

4. Suppliers/Supplier Groups: Applicable for buying-side pricing rules.

Note: Pricing Rules are often created automatically when you set up a Promotional Scheme.

3. How to Create a Pricing Rule

Pricing Rules can be created directly or via Promotional Schemes. Here’s a step-by-step guide:

3.1 Accessing the Pricing Rule Section

1. Navigate to: Home > Selling > Items and Pricing > Pricing Rules.

2. Click on New to create a new rule.

3.2 Configuring the Rule

1. Title: Enter a descriptive name for the rule.

2. Apply On: Select the scope (Item Code, Item Group, Brand, or Transaction).

• For example, selecting Transaction applies the rule to the total invoice amount.

3. Party Information: Specify whether the rule is for Selling, Buying, or both.

• Link the rule to specific customers, territories, or suppliers.

3.3 Setting Discounts or Rates

In the Price Discount Slabs table, configure the following:

• Quantity/Amount: Set minimum/maximum thresholds for the rule to apply.

• Discount Type: Choose between:

• Rate: Fixed price for an item (e.g., sell at $112 instead of $100).

• Discount Percentage: Percentage discount (e.g., 10% off).

• Discount Amount: Fixed discount (e.g., $7 off).

3.4 Additional Options

• Mixed Conditions: Apply the rule only if the total quantity/amount of selected items meets the threshold.

• Is Cumulative: Enable to apply discounts across multiple transactions (e.g., reward customers for cumulative purchases).

• Validity: Set start and end dates for time-bound rules.

3.5 Save the Rule

Once configured, click Save. The system will automatically generate the Pricing Rule.

4. Key Features of Pricing Rules

4.1 Apply Rule on Other Items

This feature checks conditions on one item but applies the discount to another. For example:

• Condition: Purchase 30 units of Item A.

• Discount: Apply a flat rate on Item B.

4.2 Party-Specific Rules

Pricing Rules can target:

• Customers or Customer Groups.

• Territories or Sales Partners.

• Suppliers or Supplier Groups.

4.3 Validity and Currency

• Set date ranges for promotions.

• Specify currency to ensure the rule applies only to transactions in that currency.

4.4 Advanced Discount Settings

• Warehouse Filters: Apply rules only to items from specific warehouses.

• Priority: Resolve conflicts between multiple rules (higher priority overrides lower).

• Threshold for Suggestion: Notify users when they’re close to qualifying for a discount.

5. Types of Pricing Rules

5.1 Price Discount Rules

• Apply percentage or fixed discounts based on quantity or amount.

• Example: "Buy 10 units, get 10% off."

5.2 Product Discount Rules

• Offer free items on qualifying purchases.

• Example: "Buy 2, get 1 free."

6. Practical Examples

6.1 Mixed Conditions Example

Scenario: A customer buys 10 units of Product X and 5 units of Product Y. The rule applies a 10% discount if the total quantity is 15.

Steps:

1. Set Apply On to Item Code.

2. Add Product X and Product Y to the rule.

3. Enable Mixed Conditions.

4. Set Min Qty to 15.

5. Choose Discount Percentage and enter 10.

6.2 Discount on Other Items Example

Scenario: A customer buys 30 units of Product A, triggering a flat rate of $12 for Product B (original price: $15).

Steps:

1. Set Apply On to Item Code and add Product A.

2. Set Apply Rule On Other to Product B.

3. Enter Min Qty as 30.

4. Select Rate and set it to 12.

7. Best Practices for Pricing Rules

1. Test Rules: Ensure rules work as intended before deploying.

2. Monitor Performance: Track which rules drive sales and which don’t.

3. Use Validity Periods: Avoid leaving rules active indefinitely.

4. Prioritize Rules: Resolve conflicts by assigning priorities.

8. Conclusion

Pricing Rules in iVendNext simplify the management of discounts and promotions, helping businesses attract customers and increase sales. By following this guide, you can configure rules tailored to your business needs, whether for bulk discounts, loyalty rewards, or time-bound offers.

For more details, explore the Promotional Scheme documentation or consult the iVendNext user manual.

Always review and update Pricing Rules periodically to align with your business goals.