What is product change in SAP FS-PM - Policy Management?

SAP Term: product change

• Component: FS-PM

• Component Name: Policy Management

• Description: Adjustment of a contract with calculable values or assumed data, but without a new policy. For each previous contract, there is just one new contract. Calculable values can include premiums or reserves. Assumed data includes the insured person or the premium payer, for example. &EXAMPLE& Changing accident insurance for minors to accident insurance for persons who have reached the age of legal majority.

Smart SAP Assistant

• Key Concepts: 
  Product change is a feature of the FS-PM Policy Management component of SAP. It allows users to make changes to existing products, such as changing the product name, description, or pricing. This feature is useful for companies that need to make frequent changes to their products in order to stay competitive in the market.
  
  How to use it: 
  To use the product change feature, users must first log into their SAP system and navigate to the FS-PM Policy Management component. From there, they can select the product they wish to change and make the desired changes. Once the changes have been made, they can save them and the new product will be available for use.
  
  Tips & Tricks: 
  When making changes to a product, it is important to ensure that all of the necessary information is included. This includes the product name, description, pricing, and any other relevant information. Additionally, it is important to double-check all of the changes before saving them in order to avoid any mistakes.
  
  Related Information: 
  For more information on using the product change feature in SAP FS-PM Policy Management, please refer to the official SAP documentation. Additionally, there are many online resources available that provide tutorials and tips on using this feature.