What is product variant in SAP CRM-IFS - Financial Services?

SAP Term: product variant

• Component: CRM-IFS

• Component Name: Financial Services

• Description: Loan variant of a quotation item.

Smart SAP Assistant

• Key Concepts: 
  Product variant is a feature of the CRM-IFS Financial Services component of SAP that allows users to create different versions of a product or service. It enables users to customize products and services to meet the needs of their customers. Product variants can be used to differentiate products and services based on features, pricing, and other criteria. 
  
  How to use it: 
  Product variants can be created in the CRM-IFS Financial Services component of SAP. To create a product variant, users must first define the characteristics of the product or service they wish to create. This includes defining the features, pricing, and other criteria that will differentiate the product or service from others. Once these characteristics have been defined, users can then create a product variant by selecting the appropriate options from the available list. 
  
  Tips & Tricks: 
  When creating product variants, it is important to consider how each variant will be used by customers. This will help ensure that each variant meets customer needs and is tailored to their specific requirements. Additionally, it is important to consider how each variant will affect pricing and other factors when creating product variants. 
  
  Related Information: 
  For more information on product variants in SAP CRM-IFS Financial Services, please refer to the official SAP documentation. Additionally, there are many online resources available that provide detailed information on how to use product variants in SAP CRM-IFS Financial Services.