A severity is a flat list of descriptions that is used to define the impact of the issue the customer is seeing. By default there are 3 severities, Low, Medium, High. You can change the names of these or add new ones as you desire within the settings --> cases --> severities section.
A state is used to determine the condition of a case. The default states are:
States are customizable, and can be created for individual categories.
You can also exclude a state from an SLA. When you select the option "Exclude from SLA" within the state properties, when the state is set, the SLA will in essence "stop the clock" on the SLA.
Managing your states can be done by going to settings --> cases --> states.
An issue type is used to determine the reason for the case. This could be "Sales Enquiry" or "Product Issue", etc. and can be hierarchical. From this list, you can drill down powerfully to quickly get a high level overview of the types of cases coming into your company.
An outcome type is used to determine how the case was resolved. This could be "Customer did not respond" or "Product defect", etc. and can be hierarchical. From this list, you can drill down powerfully to quickly get a high level overview of how cases are getting resolved.
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