Asset Lifecycle Management Principles and Permissions

Asset Lifecycle Management Principles

To use asset management, understand the crucial designs, data structures, and interactions that govern the system. Understand these terms that help users successfully use Asset Management features.

Assetization

After completing quote or order changes for an amendment, renewal, or cancellation, update your assets by using a flow to reflect the lifecycle changes.

Asset State Periods (ASPs)

ASPs represent the state of an asset over a period. Changes to assets create accurate asset state periods to provide parity for complex global subscription management.

Data Integrity and Audits

The transaction system maintains a complete and accurate history of all transactions through a ledger-style approach. Asset-level audit trails track all rate and grant modifications.

Last In First Out (LIFO)

If an asset consists of multiple prior sales transactions, use the LIFO strategy to compute the quote line item’s total price for negative quantities.

Managed Asset Viewer

A component added to the Account or Contract page layout that helps users to view and manage the asset lifecycle.

Future-Dated Changes

After completing quote or order changes for an amendment, renewal, or cancellation, update your assets by using a flow to reflect the lifecycle changes.

Rollback

A feature used to reverse the most recent future-dated amendment or renewal to restore an asset to its original state.

Proration

The transaction system automatically recalculates and prorates grants for usage-based products based on the asset's actual lifecycle during amendments or cancellations.

Asset Lifecycle Permissions

Before you begin managing assets, make sure that you have the necessary user permissions to perform successful feature adoption.

Assign user permissions based on the specific lifecycle task that you perform.