New Functionality of SuiteBilling 2021.1: Total Contract Value
About Total Contract Value
The total amount over the subscription term is known as the total contract value (TCV), which you can use in customer negotiations. The Total Contract Value report shows total bill charges for the full term of a subscription. The report created with TCV does not include usage charges because usage can vary each billing period.
Each line of the Total Contract Value report includes the following columns:
· Subscription Plan
As in the latest version of SuiteBilling, the use of TCV can now approves setting for total price for a subscription line instead of creating a price plan and quantity. The feature allows you to enter a total amount for the subscription line in the Total Interval Value field and a charge frequency to calculate recurring amounts. When you save the subscription, NetSuite generates the corresponding price plan. Users can set either the Total Interval Value field or create a price plan for a specific subscription line. When you fill the Total Interval Value field, NetSuite clears the price plan. If you re-enter a value for the price plan, NetSuite clears the Total Interval Value field. You can enter a Total Interval Value only when a subscription line is in the Draft status. Usage items and evergreen terms cannot use Total Interval Values.