Navigating a Rate Change Matrix Component

Objective

After completing this lesson, you will be able to navigate a Rate Change Matrix Component admin object.

Rate Change Matrix Component

Rate Change Matrix Components are the specific rules created for use in Rate Change Matrices.

The Rate Change Matrix Component allows the buyer to define the components, other than the default components, that define changes to rates or fees that occur over the period in which the worker is engaged.

The Rate Change Matrix Component object allows the buyer to define additional custom lookups or rules that can be included on a Rate Change Matrix. A separate object needs to be created for each component that will be included on a matrix. Once the components are created, a Rate Change Matrix admin object is created and the components are added to it.

Navigating the Rate Change Matrix Component Admin Object

The Rate Structure section of the Admin Menu, the Rate Change Matrix Component selection is highlighted.

1	To view the list of rate change matrix components that the tenant uses, select Rate Change Matrix Component from the Company Structure section of the admin menu.

Rate Change Matrix Component List Page

A separate data object must be defined for each custom component that is included on a matrix.

Used to Calculate lists whether the component is used to make a specific calculation and, if so, what it calculates. The available options are:

Not Applicable
Pay Rate
Effective On
Supplier Bill Rate
MSP Flat Fee

Data Type tells the matrix where to get the information for this component. Either the data is from a lookup or a rate change matrix rule. Both of these must be defined before a rate change matrix can be created.

To view the details of a rate change matrix component, select an appropriate link in the Code column.

Rate Change Matrix Component Details Page

The details of rate change matrix components can vary based upon the data type identified in the component.

5	The Lookup Name and Lookup Segment details are specific to the Lookup data type. If the component used the Rate Change Matrix Rule component, the specific rule required would be listed here instead.

Creating a Rate Change Matrix Component

Creating a Rate Change Matrix Component requires few steps and minimal information.

Rate Change Matrix Component creation page containing fields for Code, Name, Used to Calculate, Data Type, Visible to Supplier, and Rate Change Matrix Rule.

1	Enter a Code for the Rate Change Matrix Component …
2	And then a Name.
3	Select the Used to Calculate field and choose an option from the drop-down menu.
4	Then select the Data Type field and choose and option from the drop-down menu. Depending on what is selected in this field, subsequent fields may change.
5	Indicate whether the matrix component will be visible to the supplier.
6	And select an appropriate Rate Change Matrix Rule.
7	When you’ve entered all of the necessary information, you’d select Add to create the group.

Summary

Rate Change Matrix Components are specific rules used in Rate Change Matrices that allow buyers to define custom changes to rates or fees over a worker's engagement period. These components require separate data objects and must be added to a Rate Change Matrix admin object for usage.

Key Points:

Custom Lookups/Rules: Additional custom lookups or rules can be created for inclusion on a rate change matrix.
Admin Object: Each component needs a separate object; these are then added to a Rate Change Matrix admin object.
Component Details: Components vary based on data type, which specifies how information is obtained (lookup or rule).
Viewing Components: To see details, select the appropriate link in the Code column on the Rate Change Matrix Component List page.

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