Your Products Engine can be updated at any time, as required. As part of your Simpology subscription, you can
Create a Jira task for Simpology to make any updates on your behalf or
Update and re-publish your Products configuration yourself.
This article describes how you can publish a product update yourself.
The Products Engine will only be accessible by those members of your organisation that have the correct Permissions (ie you can control who can view and/or edit your Products Engine).
Go to Products Engine
To update a product, go to Solutions/Loan Data/Product:
In the Products Engine, navigate to the Product you want to update by choosing the correct Collection, Group and SubGroup to get the correct list of Products:
Version your Product to "Draft from Current"
Select the Product you wish to update, and then Click "Version" and select "Draft from current":
This will create a draft version of your currently published data. An important element of the draft is setting:
the version nickname - as this will be a useful reference in the future
the valid from date - this will either be today's date (ie an immediate change); or a date in the future (ie you are pre-configuring a change to apply at a date in the future):
Make your changes
You can then make required changes to the configuration of your product. Common changes would be updating the Rates, or update any of the features and fees.
Update Interest Rates
To update the Rates on your products, you can either make a change of the headline rate for the product (eg the Reference Rate); or you can make changes to specific features and how they affect the Rates.
Update Product Features
When in Version mode (edit mode), you are able to re-configure any of the Product Features that you have set on your Product. You are able to amend existing features, add new ones, or delete existing ones.
Update Product Fees
When in Version mode (edit mode), you are able to re-configure any of the Product Fees that you have set on your Product. You are able to amend existing fees, add new ones, or delete existing ones.
When you are happy with your changes, click Save, and this will generate a new Rate Grid for the updated product:
You can then review the rate grid and make any edits you need to.
You can revisit the configuration and re-save as many times as you need to while the product is in draft.
Publish the updated configuration
When you are satisfied with the updated configuration, scroll back to the top of the screen and "Release" the Products update:
🚨 This will then set the changes to be scheduled for publication.
if you have set the valid from date to be today, the changes will apply within 20 mins
if you have set the valid from date to be a date in the future, the changes will apply on that date