With Enterprise and Elite plans, you can use the Product Catalog to define goods for use with your deals, providing another layer of management of your pipeline.
We use the term "product" to refer to these goods, but the Products Catalog can also be used to list any services your company offers.
You need admin rights to add and edit products in the catalog. All other users can view the catalog.
This article contain the following sections:
Adding products to your catalog
You need to enable your catalog (if it is not already enabled), and then you can add your products.
To enable the catalog and add a product
- Go to Settings > Products.
- Click Enable (if you have not already enabled your Product Catalog.
- Click Add Your First Product. If you have already added products previously, click View Catalog.
- Click Add in the top toolbar to add your product.
- Complete the following fields:
- Name: (required field) the name of the product
- SKU: an inventory number or code. Both the name and the SKU can be used to search the catalog for the product
- Active: an active product can be added to a deal, an inactive product is listed in the catalog, but can't be used on new deals (until it's reactivated). New products are set to active by default
- Description: a short note about the product
- Unit Price: the price of a single item. This is the basis for calculating the discount, markup, and selling price values. You can choose one or more currencies. Click + next to the unit price to add multiple currencies for the product (see Working with currencies).
- Max Discount: the maximum discount you want your team to be able to offer on a product (up to 100%)
- Max Markup: the maximum markup you want your team to be able to add to the product's unit price. This lets you increase the value of a product in a given deal. There is no upper limit to the maximum markup
- Pricing Variation: shows the range of prices available for a single item of the product, based on the unit price, max. discount, and max. markup settings (note: For products with a Unit Price of zero, the Pricing Variation will not be displayed)
- Unit cost: (Admin-only field) lets you record the price of manufacturing or purchasing a single item of the product. If you have specified multiple currencies, all currencies are displayed. This field is not included in any of the above calculations.
Working with currencies
You can select any base currency for your product.
You can add a separate price for a given product in any of the currencies available in Sell using the + button next to the Unit Price field.
Products with prices in more than one currency are displayed in the catalog with a globe icon next to the price. These are the basics when working with currencies:
- Every Sell account has one default currency.
- Each deal can have different currency.
- The default currency is taken from the Sell account settings.
- You can filter deals by currency.
- Exchange rates are taken from https://openexchangerates.org/
- Deals with various currencies are sorted by deal value, using the default currency (recalculating where needed)
If you have a deal that has more than one currency:
- All reports are shown in the default currency.
- For the forecasting reports, the active deal value is calculated on the current exchange rate. For the sales reports, closed deal value is calculated on deal closing date exchange rate.
If you change the default currency:
- All closed deals are recalculated to the new currency using their deal closing date exchange rate.
- All active deals with non-default currency are recalculated to the new currency using current exchange rate.
If you are editing the Moved to stage on field for a closed deal that is using the non-default currency, the deal value is recalculated with the exchange rate specified in the Moved to stage on field.
Adding products to a deal
For each deal, you can see products shown in the right-hand column of the screen. You can see the total value of the products in the deal, converted to the deal's currency, as well as any discount you've applied to the products value. Click to set that amount as the deal value.
Product prices in currencies other than the deal's currency are converted to the equivalent amount in the deal's currency and shown as the (Total) Products Value. The (Total) Products Value is updated daily, based on current exchange rates (see Working with currencies).
In other words, if your deal's currency is euros, and you set the price for a product in dollars, the product's price in dollars remains the same, but the (Total) Products Value, in euros, changes.
Only the top five products in the deal are displayed. If there are more products listed, you'll see an overflow icon (...)
The Total Products Value is the value of all the products in the deal with the specified deal discount applied. Click + in the Products field to see and define the products in the deal. The Products in this Deal window opens.
From this window, you can manage the products added to the deal, quantities, and the discount or markup applied to prices in this deal. The discount or markup cannot exceed the maximum values specified in the catalog, and is automatically updated to remain within those values.
Specify a discount or markup by editing the Selling Price field. This value cannot exceed the Pricing Variation displayed in the Products Catalog.
Alternatively, edit the Discount field in the bottom right-hand corner to specify an individual discount for the specific deal. There is no limit on this discount.
From this view, you can also set the deal value to match the Total Products Value. When you add a product to a deal, it retains the price and other details listed for it in the catalog at the time it is added, and any subsequent changes to the product listing in the catalog are not reflected on existing deals.
You can add products to a deal when quick-adding a deal from the Sales Pipeline. You can also filter your Deals by products in the Sales Pipeline view.
If you decide to disable the Products Catalog, you won't be able to select products for your deals. The catalog's contents are retained for your account, in case you want to enable it again later.