In Software Vertical Contract Renewal Suiteapp, Uplifts are used to show Consumer Price Index for contract items by customer. The Consumer Price Index or CPI assesses the changes in the price of a common basket of goods and services by comparing with the prices that are prevalent during the same period in a previous year.
Specifying uplift values enables you to maintain a consumer price index (CPI) or similar uplift. If you use an “original list rate” contract renewals pricing model, assigning an uplift type to your customers is important since the per-customer pricing on contract items is static in that pricing model.
To create uplift types:
1. Go to Contract Renewals > Setup > Uplift Types > New.
2. Enter a name for the uplift type.
3. In the Uplift field, enter the percentage the contract prices increase with renewal.
4. Click Save.
You can set the uplift type on the Contracts subtab of customer records. When the customer’s contracts renew, the price will be increased by the percentage of the uplift type on the record.