Solving Complex Oilfield Service And Rental Pricing Challenge
Pricing information and documentation management in RigER is organized through three distinct levels of documents that ensures flexibility and, at the same time, detailed tracking to capture and attribute to the source all changes made to the price documents by authorized personnel.
Price Lists – set baseline pricing for rentals and services
Price Agreements – a client-specific price agreement
Rental Service Agreements (RSA) – a job-specific price agreement
Price List (PL) and Price Agreement (PA) are primary documents of the price management structure in RigER. The Rental Service Agreement (RSA), however, is a document that provides flexibility required to be competitive. RSA allows users to apply prices to a specific job which can be different from the standard price list or even from the previously signed price agreement. The RSA picks up prices either from the Price Agreement (if it exists with a client) or the Price List (if no Price Agreement is available for the selected client). It also allows you to manually edit/input the prices, thus having the highest priority of pricing by overriding the ones from PAs or PLs.
RigER provides a few key pricing mechanism features:
Prices by divisions
They help sales teams generate accurate quotes according to the client’s requirements.
Here is a little more detailed information about the main documents involved in the Price Management life cycle.
This is a general list of prices for all the items that are available in RigER – be it Rental Units, Consumables, Packages/Assemblies or Combo Units, Services, etc.
Having general pricing available for items in the Price Lists allows users to save time and avoid multiple manual price entries when creating new jobs, as prices in the Rental Service Agreements, or Sales Documents are pulled from the Price Lists.
Price Agreements are client-specific. This means that prices inside the particular Price Agreement apply only to one specific client. A Price Agreement can be either open-ended, which means it has only the start date for the period and will be active until manually cancelled, or the time period can be fixed – allowing you to set the start and end dates of the price changes indicated inside the price agreement.
Price Books are Price Lists for general rentals. It is possible to set up pricing for different rental periods inside a Price Book for each item. As you can see in the screenshot below, we can setup a daily, weekly and monthly rate for an item. If all these values are in place, the invoicing mechanism will be able to apply the correct price calculation algorithms and come up with the correct amounts.
General Rentals Price Matrix
It is also possible to set up a very specific pricing mechanism for general rentals, which actually defines the rental periods as it is shown in the example below.
Dynamic Discount Agreements
Dynamic Discounts give additional flexibility when it comes to setting up the pricing mechanism for different clients. In a nutshell, the Dynamic Discount Agreement allows users to set up a specific time period for which the specified discounts will be active; select a particular group of items – which discounts will apply to and populate a list of clients with their corresponding discount % values who we would like to provide discounts to.
Pricing module in RigER allows you to quote professionally, increase deal sizes, reduce errors, and make better pricing decisions. It provides greater control over pricing and gives users a distinct competitive advantage.
Features To Explore
Create quotes and convert them into agreements, manage client interactions with Oilfield CRM.