Multidimensional Pricing: Real-Time Rating Engine
Key to accounting, monetizing, and billing for activities or subscriptions is a robust rating engine with a sophisticated rules-based algorithm for determining pricing for usage. With TRACT’s advanced rating engine, you can accurately bill for anything measurable.
Transverse works with our customers to set up business rules as part of the on-boarding process.
The rating engine uses rules to calculate charges for activities. These business rules can be configured in two ways:
- The Event Formula Interface (EFI) implements simple usage rules. EFI will cover 80 percent of all activity-based price plans. The EFI allows a product manager to create a set of rules that evaluate each field on a usage event. If the proper data is contained in the event then the defined rate will be applied.
- The Spreadsheet Rule Interface (SRI) is exclusive to TRACT and allows very complex price plans to be implemented. With the SRI option, a product manager first uses an Excel formula to create the exact event evaluation and rate calculations, then uploads the spreadsheet to TRACT, which parses and converts the formulas to JAVA code as the price plan.