Building Pricing Plans
In this guide, we’ll cover how to create and manage Pricing Plans in Solvimon. Pricing Plans define the billing structure for your Products: how much, how often, and under what conditions your customers are charged for them.
What is a Pricing Plan?
A Pricing Plan in Solvimon is a configuration that combines Product Items, their model type, and optional pricing rules to define how to charge for a Product. Each plan supports multiple types of pricing models, making it possible to create just about any tailored pricing plan for different customer segments, pricing tiers, or bespoke contracts.
A Pricing Plan is always associated with at least one Product. This means that you’ll need to create your Products prior to defining your Pricing Plans in Solvimon. If you haven’t done so yet, check out the guide of Product Catalogs.
Once your Pricing Plans are created, you can create a Subscription by combining them with a Customer. As contracts and deal terms often vary per customer, Solvimon makes it possible to customize the Pricing Plan when you do so, ensuring complete flexibility.
Charge Types
How a Product is charged is determined by its Charge Type. These include usage-based, recurring, seat-based, and one-off. Charge Types are set on the Product Item, and must be done before creating a Pricing Plan.
Usage Based
Revenue Items that are charged based on usage, for example: per transaction, or per email sent. This model type requires you to set up Meters to ingest usage.Seat Based
Revenue Items using Seat Based pricing are charged based on the amount of seats allocated within a certain period (e.g. per year or per month).Recurring
Revenue Items using the Recurring model type are invoiced to customers using a flat fee that’s repeated on a periodic basis (e.g. a base fee that’s paid every year).One-Off
A One-Off Revenue Item is charged only once. This is typically used for items like an onboarding or administration fee.
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We’re proud to cover complex and sophisticated pricing models. If you’d like to explore more advanced price structures, get in touch with our experts.
Pricing Rules
When setting up usage-based pricing, you may want to create pricing logic based on certain conditions. This is possible using Pricing Rules. This requires you to set up at least one meter property in order to determine the conditional logic. If you haven’t set up Meters yet, check out this guide.
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In order to use Meter Properties for Pricing Rules, they must be set to ‘Required’. Meter Properties set to optional cannot be used.
To use Pricing Rules, you’ll need to create default pricing. This will function as the fallback pricing should no conditions be met.
How Pricing Rules work
Let’s imagine a Card Acquiring product with a tiered pricing structure. The first 100 cards are charged at €0.20 per event, any events after are charged at €0.10.
This is the default pricing, but we can take required Meter Properties and add logic for more fine-grained pricing rules. For example, we can set a specific price based on the Card Issuer’s region, card scheme, or purchase type. This means you can charge a specific price based on whether it’s an ecommerce transaction, using a Discover card, issued in Europe.
Pricing Groups
Solvimon makes it possible to combine multiple Pricings within a group, giving the option to select one or more when creating new plans or Subscriptions. Solvimon also allows you to configure pricing groups as an add-on.
How to Create Pricing Plans
Let’s go through the process of creating a basic Pricing Plan.
1. Create a Pricing Plan
Navigate to Pricing Plans using the navigation panel, then click ‘Create Pricing Plan’. Give your plan a name, optional description and set the amount type. You can also select a customer and currency.
Step 2: Add Pricing
Your Pricing Plan has now been created in Draft status. Click ‘Add Pricing’ to add your first pricing item. Select the Product, currency, pricing type, then add the amounts to be charged. In this example we’re adding a flat, seat-based price with 1 default seat included per schedule.
You can then set the billing period, toggle billing in advance, and give your pricing item a name. Once done, click ‘Add Pricing’ to include it in your Pricing Plan.
Step 3: Activate Pricing Plan
You now have a basic Pricing Plan that’s ready to be activated and used to bill customers. To activate it, click into the menu (the button with 3 vertically aligned dots) and select status ‘Active’. That's it! You Pricing Plan is now ready to use.
Next Steps
Solvimon’s native flexibility supports just about any pricing structure you can think of. If you’d like to explore this in detail, contact our experts for a tailored demo.
Why Solvimon
Helping businesses reach the next level
The Solvimon platform is extremely flexible allowing us to bill the most tailored enterprise deals automatically.
Ciaran O'Kane
Head of Finance
Solvimon is not only building the most flexible billing platform in the space but also a truly global platform.
Juan Pablo Ortega
CEO
I was skeptical if there was any solution out there that could relieve the team from an eternity of manual billing. Solvimon impressed me with their flexibility and user-friendliness.
János Mátyásfalvi
CFO
Working with Solvimon is a different experience than working with other vendors. Not only because of the product they offer, but also because of their very senior team that knows what they are talking about.
Steven Burgemeister
Product Lead, Billing