Overview

Products and their prices are used in Orders, Subscriptions, and Invoices inside the Inspire Platform.

A Product within the Inspire Platform must have at least one associated price but can have multiple prices to accommodate various scenarios, so each price may have a different type and/or different recurrence period within the same Product.

Types of Prices:

**Standard: This is the "regular" product price, which remains constant regardless of the number of items being purchased. It is the default price type and is the only type available when the Tenant has the Dual Pricing feature activated.

Package: Package prices are applied for a specific number of items. When creating a package price, the tenant user is required to specify both the quantity of units and the associated price.

Volume: Volume pricing is calculated based on the final quantity selected by the customer. It operates on pricing tiers, where each tier is defined by a starting quantity and a maximum quantity to which the price applies. The platform calculates the appropriate price tier based on the customer's selected quantity and multiplies it by the price unit of that tier.

Graduated: Graduated pricing is similar to volume pricing but takes into account not only the tier of the selected quantity but all previous tiers as well. It multiplies each used quantity by its respective tier, providing a more nuanced pricing structure.

Recurrence of Prices:

Each price, in addition to its type, also has its own recurrence period. Prices can be categorized as either "one-time" or "recurrent."

One-Time: One-time prices have no recurrence and can only be used in individual Orders and Invoices.

Recurrent: Recurrent prices, when used in a Subscription, determine the frequency at which invoices for that subscription will be generated. These recurrent prices can have various recurrence periods, including daily, weekly, monthly, every three months, every six months, and yearly. This flexibility allows for customized billing cycles that align with the Subscription's requirements.

It's worth noting that products can also be utilized within payment links besides manually generated entities. When customers pay for these products at the hosted checkout, it results in the generation of orders and/or invoices directly.

Moreover, products and their associated product prices can be individually archived within the Inspire Platform. Archiving a product or product price essentially removes them from being available for payment at the hosted checkout and listing when creating new invoices, orders, or subscriptions. However, these archived products and prices will continue to function within active subscriptions and open invoices and orders, ensuring that existing commitments and transactions are not disrupted.