Product Management
This component is used to configure products that form the basis for each contract. It is an encapsulated component that predefines the options for describing a contract, and also supplies default values for the contract structure.
This means that you can define mass products that store fixed default values for the dependent contracts. The customer or processor then only has the option of accepting or declining the contract terms. This limited degree of freedom is typical for mass products.
You can also structure individual products in such a way that default values are still transferred from the product to the contract, but the contract description allows processors extensive freedom of action until the contract is concluded.
The component can be used so that contracts can be structured without restrictions on the underlying transaction and non-banking transactions.
Implementation Considerations
You have to set certain parameters for this component before it is implemented. It forms the basis for all of contract management.
If you require attributes to describe the product in addition to those delivered by SAP, these can easily be enhanced. Functions required due to enhancements must be developed by customers using new contract elements.
Integration
Contract Management requires the data that Product Management provides as control and default values or selection helps, as the basis for creating a contract.
Conversely, Product Management requires data from the various contract elements to determine permitted default values.
The main data flow involves data being transferred from the product to a contract when the contract is created.
Features
You can structure the products in the system from the following viewpoints:
Financial/system
Customer/market
A purely technical product view would group together all products that have great similarities in their product descriptions. This can be useful for the first external data transfer by direct input, which can reduce the complexity.
A purely market-oriented product structure would permit the individual business areas of a bank extensive autonomous structuring options without restricting other business areas.
This component offers flexible product structuring in the life cycle of a product since you can create different versions of products. This means that a product can be developed further with regard to marketing without affecting existing contracts.
It is, however, possible to change a contract to a new product or product version without having to terminate the contract and create a new one.
Constraints
We provide four contract specializations, and the following product categories are therefore also part of the delivery:
Account product
Card product
Card pool product
Master contract product