Recipes
A recipe holds the rules that turn a vendor quote into your line items: the discount your customer gets and how currency is converted. Your team picks a recipe on the deal.
Recipes are on the Recipes tab in the app settings. Owners and managers create, publish, archive and delete them. Representatives see the recipes assigned to them, read-only.
Create a recipe
- Choose Create New Recipe. A draft called New Recipe is added to the list, set to USD for the vendor, EUR for the customer and a 20% customer discount.
- Choose View in its row to open it.
- Under Basic Information, enter a Recipe Name your team will recognise and, if you like, a Description.
- Set the Discount Rules. See Discounts below.
- Set the Currency & FX Configuration. See FX engine.
- Choose Save Changes.
A draft can be changed and saved as often as you like. Your team cannot use it until it is published.
Discounts
Customer Discount % is the discount your customer gets off the vendor's list price, per line item. It is never more than the discount the vendor gave you on that line item, so you never sell below cost. The rest is your margin. 0 means the customer pays the list price.
The Minimum Discount is gone. Recipes used to have a second field, Minimum Discount %. It has been removed. If a recipe of yours still had a minimum set, QuoteXelerator ignores it. On a line item without a vendor discount, the customer pays the list price.
An example with a Customer Discount of 4%:
| Vendor discount on the line item | Customer gets | Your margin |
|---|---|---|
| 10% | 4% | 6% |
| 3% | 3% | 0% |
| None | 0% | 0% |
The Customer Discount is also the limit for target prices. If a representative asks for a price that needs more discount, the card warns them before they submit. See Target pricing.
Set the Customer Discount to what you give routinely. Larger discounts then go through a target price request, where an owner or manager sees them.
Currency reserves in the recipe
When the recipe converts currency, the editor shows your Currency Reserves for the pair in both directions: how much is available of the total held, and the weighted average rate. This is for information. You record purchases on the Currency Reserves tab. See Currency reserves.
Publish a recipe
- Choose Publish in the recipe's row.
- Check that the status shows ACTIVE.
- Make sure the people who quote with it have it in their assignment. See Users and assignments.
If something is missing or invalid, publishing stops and a message under Action Required tells you what to fix.
A published recipe is locked. View opens it read-only. This way you can always show which rules priced a deal.
Change a published recipe
A published recipe cannot be edited, and there is no copy function yet. To change the rules:
- Create a new recipe and enter the settings you want.
- Publish it and add it to your team's assignments.
- Archive the old recipe.
Line items already created with the old recipe stay as they are.
Archive or delete
- Archive is available on active recipes. An archived recipe is no longer offered on deals and cannot be published again. Archiving frees a place under your recipe limit.
- Delete is available on every recipe and asks you to confirm. It removes the recipe together with its saved versions, its assignments and its target price requests.
Delete drafts you no longer need. For a recipe that has already priced deals, archive it instead.
Limits
- The trial allows 3 active recipes and a subscription allows 10. At the limit, Create New Recipe is unavailable until you archive one.
- Each recipe converts one currency pair.