At Octane, we provide a variety of flexible pricing options that cater to the unique needs of your business. Our Price Plans serve as the foundation for determining the cost of using your services. In this document, we will delve into what Price Plans are, how they are structured, and how they can be customized to fit your business model.
A Price Plan in Octane is a structured collection of pricing terms that defines the cost of using your services. It encompasses various elements that together determine a customer's bill. These elements typically include:
- Platform Fees: The fundamental cost associated with the chosen plan.
- Metered Components: Variables that contribute to the usage-based billing, such as the number of API requests, data transfer volume, or any other measurable units relevant to your business.
- Add-Ons: Optional features or services that can be added to enhance your plan, typically incurring an additional cost. Example: Seats, SSO, Dashboards etc.
- Features/Entitlements: Specific functionalities or capabilities that are included in the plan for free.
In addition to determining pricing, plans also specify the billing frequency. Octane offers support for monthly, quarterly, annual, and semiannual billing schedules. This the base frequency at which all components will be charged. Components such as platform fees, add-ons and minimum charges can have their own frequencies that are a multiple of the base frequency (e.g. You could charge on usage monthly, platform fees annually and support semiannually).
Octane offers you the flexibility to customize Price Plans to align with your specific business requirements. Depending on the nature of your customers and the scale of your operations, you can choose to implement both standardized and custom plans.
Many businesses find value in offering standardized plans to their customers. These plans are predefined and correspond to different tiers of functionality within your product. For example, you might have plans like "Basic," "Pro," and "Enterprise" that offer varying levels of features and pricing. Standardized plans are ideal for situations where multiple customers share similar requirements.
In some cases, your business may require flexibility beyond standardized plans. Octane enables you to create custom plans tailored to the unique needs of individual customers. For instance, you can negotiate specific terms and feature sets for an "Enterprise" offering to meet the demands of a large corporate client. Custom plans allow you to accommodate diverse pricing structures and agreements while ensuring fairness and transparency.
In the following sections of this documentation, we will explore each component of Octane Price Plans in detail, providing you with the knowledge and tools to effectively configure and manage your pricing strategies.