Here are some key strategies and recommendations to help you maximize the benefits of Rates 2.0. By following these best practices, you can ensure a smooth transition and maintain consistency across your rate management activities.
Fixed Value Rate Components
If your Rate Components have a fixed value based on a percentage, you do not need a Rate Components Custom Lookup. The value can instead be included on the Rate Component Group. If the Rate Component Group indicates the component is determined from the lookup, a Rate Component Custom Lookup is needed. The Keys of the custom lookup always include the currency and rate component code then you can use other Keys based on your company's needs.
Notable fields
Below are some notable fields to look for when creating a Rates 2.0 Custom Lookup;
- MSP Company: For buyers with multiple MSPs, a custom lookup must be associated to an MSP company and will only apply to that MSP. A separate lookup may need to be created for each MSP company.
- Service Type: Indicates whether the Rates or Rate Components custom lookup applies to Contingent, Services, or both the Contingent and Services modules. This gives you the option to use separate lookups for the Contingent and Services modules, or to include rate information for both modules on one lookup. If your company isn't configured to use both modules, the Service Type defaults and can't be changed.
- Use Semicolon (;) as the Delimiter: Ensure that you consistently use the semicolon (;) as the delimiter when configuring and managing custom lookups. This standardization helps prevent data import errors and ensures compatibility across different system integrations and data exchanges.
- Custom Lookup Name: When entering a name for your new custom lookup, it is recommended not to use special characters or punctuation.
- [ALL] and [N/A]: When populating your lookup tables, you can use "[ALL]" if the value does not depend on a particular key and should apply to all of that variable. For example, if a particular rate applies to all suppliers. For Factor rates, rate values are not required, therefor you would enter "[N/A]" in those fields.
![Pick List section of a Custom Lookup admin object showing [ALL] listed as a value for some Job Code, Site Code, and Supplier Code combinations, and [ALL] indicated as the Minimum and Maximum Rates, and the Rate Component Groups for those same combinations.](https://learning.sap.com/service/media/topic/a02bdca5-602a-4431-9cb0-c1e3d7d2a489/topic/a02bdca5-602a-4431-9cb0-c1e3d7d2a489/FG230_2405_en-US_media/FG230_2405_en-US_images/All and NA Fields in Pick List.png "Pick List section of a Custom Lookup admin object showing [ALL] listed as a value for some Job Code, Site Code, and Supplier Code combinations, and [ALL] indicated as the Minimum and Maximum Rates, and the Rate Component Groups for those same combinations.")
Keys
The Service Type selected on the Custom Lookup will determine what keys are available to use in your table.
| 1 | Currency and Rate Category/UOM keys are mandatory. All other keys are optional based on your rate requirements. |
| 2 | It is recommended to also include a Valid On key, which will allow you to drive which rate values are applicable from a specific date. For example, if you wanted to update your rates to reflect a future wage increase, you can add new rows to the lookup for them, using the future effective date as the Valid On date. So when a Job Posting is created today, the current rates apply, but if the Job Posting is created with a start date after the ‘Valid On’ date, then the new rates will apply. |
Values
Depending on the Service Type used, either a Rate Value or Minimum Rate and a Maximum Rate are required Values.