BillingPlatform provides a highly dynamic multi-level product catalog that allows you to create the product you need to maximize customer satisfaction and profits. The products section in BillingPlatform is where you will create your company's product offering, from one-time charges, to subscription, late fees, discounts, taxes and more. Please refer to the following flow diagram to get an idea of how the hierarchy of products exists in the BillingPlatform application.
The basic component is a Product, which you can choose to define default rate/pricing. This can in turn be provisioned as part of a package for bundle offerings and take on a different rate/pricing.
Products - The base component for the product catalogue.
Packages - A collection of products that can take the default pricing or take on customized pricing details relative to the bundle/package. This is useful for creating bundles of products and promotions.
Rate Classes - Rate classes will provide general pricing definitions that can be applied to any account.
Event Invoice Cycle - Used to define custom invoice creation and closing definitions based on usage event parameters or scheduled cycles.