What is gross merchandize value in SAP SAP-LEGAL - Global Field Legal?

SAP Term: gross merchandize value

• Component: SAP-LEGAL

• Component Name: Global Field Legal

• Description: A Customer’s and its Affiliates’ total annual sales gross revenue for products or services that are purchased through Cloud Service platforms by End Users in a given Contract Year.

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• Key Concepts: 
  Gross Merchandise Value (GMV) is a term used in the SAP-LEGAL Global Field Legal Compliance component to refer to the total value of goods and services sold by a company. It is calculated by adding up the total value of all goods and services sold, including taxes, shipping, and other fees. GMV is an important metric for measuring the success of a business.
  
  How to use it: 
  In SAP-LEGAL Global Field Legal Compliance, GMV can be used to measure the success of a business. It can be used to track sales performance over time, compare sales performance across different markets, and identify areas for improvement. Additionally, GMV can be used to assess the impact of changes in pricing or product offerings on overall sales performance.
  
  Tips & Tricks: 
  When calculating GMV, it is important to include all taxes, shipping fees, and other fees associated with the sale of goods and services. Additionally, it is important to ensure that all sales are accurately recorded in order to get an accurate measure of GMV.
  
  Related Information: 
  GMV is closely related to other metrics such as revenue and profit margin. Additionally, GMV can be used in conjunction with other metrics such as customer lifetime value (CLV) or customer acquisition cost (CAC) to gain a better understanding of a business’s overall performance.