What is financing product type in SAP CRM-LAM - CRM Leasing?

SAP Term: financing product type

• Component: CRM-LAM

• Component Name: CRM Leasing

• Description: Specifies whether a product belonging to the "Financing" product type is a financing product or a financing option.

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• Key Concepts: 
  Financing product type is a component of SAP CRM Leasing and Asset Management (CRM-LAM). It is used to define the characteristics of a financing product, such as the type of financing, the payment terms, and the interest rate. It also allows for the creation of different financing products for different customers. 
  
  How to use it: 
  The financing product type component can be used to create and manage different financing products. It allows users to define the characteristics of each product, such as the type of financing, payment terms, and interest rate. The component also allows users to assign different products to different customers. 
  
  Tips & Tricks: 
  When creating a new financing product type, it is important to consider the customer’s needs and preferences. This will help ensure that the product is tailored to their specific needs and will be more likely to be accepted. Additionally, it is important to consider the payment terms and interest rate when creating a new product type. 
  
  Related Information: 
  For more information on SAP CRM Leasing and Asset Management (CRM-LAM), please refer to the official SAP documentation. Additionally, there are many online resources available that provide detailed information on how to use this component.