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Sales Quotation Management Software

Sales Quotation Management Software

CRM Quotation Software– What is a Sales Quotation?

A sales quotation is a document that a seller provides to a buyer to offer goods or services at a stated price, under specified conditions.

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Other terminology for quotations are quotes, sales quotes or sales quotations and are used to let a potential buyer know how much goods or services will cost before they commit to the purchase.

Quotations are usually not a legal binding unless they are part of an official contract. However, sales quotes is generally accepted that a customer has agreed and committed to a sale, and a specific price if they accept a sales quotes.

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The Right Time To Send A Quotation In Business

Sales Quotations or Proposals are generally sent at the request of a customer who is interested and wants to know more about certain services or goods before they commit a purchase.

It’s always important that you send a sales quotation as soon as you’re able to. Customers often check with multiple vendors and request quotes from several businesses, so sending a sales quotation quickly will help you to be at the top and get ahead of your competitors.

8 Simple steps to create a Quotation for your business : 

1.Select a Template

The creation of a winning quotation is a learning process. It will help to use a quality quotation format so that you will be able to create professional-looking, a thorough and detailed quotation which your clients will love.

2.Add Client Information

Make sure that you include who the quote is for, including all the information like:

  • Business name
  • Address
  • Phone number
  • Fax number
  • Email address
  • Contact name and the title

And the main thing does not forget to include your contact information. That said if you are using company letterhead, you might do not need to include it.

3.Enter Quote Number

Accounting software will automatically generate a quotation number for you, adding increments of one for each new quote. You must be able to edit the quotation number when you like. If you are using a template in Word, you can start with “1” and go on.

4.Include a Date of issue

This is the date when you send the quotation to the client. This is very much important because quotes are usually limited-time offers. You will want to add “Valid for 30 days”, or you can also increase or decrease the timeline.

5.Enter Products or Services

Add all the products or services that you are quoting as line items. Also, include a description of all the items with product numbers, total price per unit, unit price, and quantities. You can also divide the services and products according to the different stages of the project. 

6.Add Terms and conditions

Here is where you account for all the possible variations in the project. For instance, you can note the project timeline for landscaping the backyard depending on having nice weather. 

Small businesses will also explain how much the additional work costs. Explain under what conditions the additional work might be required, hence the quote is supposed to be at a fixed price.

7.Include Notes

This section is for if you want to add any other details. The note is the right place to detail timelines and expected completion dates. You can also summarise the scope of the project.

8.Add optional details

Here are some elements that you can consider adding to your quote:

  • Purchase order number from the client
  • Discount
  • Business number
  • Sales tax number Signature section

On the other hand, you should give yourself enough time to accurately work out your costs and calculate your profit margin. As mentioned earlier, quotes are not legally binding; you should do your best to send error-free sales quotations or avoid offering a price that you can’t actually commit to.

Read more – Quotation Management: Now Easier Than Ever Before

Drafting an Effective Sales Quotation

When it boils down to writing or drafting a sales quotation, there are multiple techniques at your disposal. You may choose for an online software, a quotation with the Word-based template, an Excel-based template, or even the classic handwritten business quotations.

Multiple considerations come into focus when deciding on the strategy for drafting a quotation. Primarily, key attention on the most efficient means of interaction with your customers. Timeliness is imperative, and many businesses opt for software solutions to promptly generate quotes and send them straight away to clients via email, text, or popular messaging platforms like Facebook or Whatsapp.

Equally imperative is the factor of professionalism in your opted strategy. While there is no strict requirement for a particular sales quotation format, template, or layout, necessary to prevent sending unprofessional and subpar quotations. The impression your quotation delivers plays an important role in molding perceptions about the standard of your work and business.

In summary, the main considerations for drafting a sales quotation involve the chosen method’s communication productively and the professional appearance it delivers. Choosing a method that goes with both factors ensures that your quotation not only reaches out to your customers swiftly but also delivers a positive and professional impression.

Key Components of a Sales Quotation Template

Once you’ve opted your method for generating a quotation, possessing a professionally designed template on hand is necessary for constantly delivering polished quotes. Identical to invoice templates, a sales quotation template should comply with the certain rules to deliver potential customers with a clear understanding of their commitment. Here are the main elements to include:

  • Company Details:
    • Organization name
    • Address
    • Email address
    • Contact number
    • GST registration number or business registration number (if applicable)
  • Validity Date:
    • Signifies how long the quotation stays valid, allowing customers to make informed decisions within a particular time frame.
  • Price Breakdown:
    • Involves the total amount due for the order, along with individual expenses for services or products.
    • Make sure to break down the final price, incorporating expense of materials, labor, and applicable GST charges.
  • Customer’s Details:
    • Customer’s name
    • Contact number
    • Email address
    • Shipping address
    • Billing address, etc.
  • Terms & Conditions (T&C):
    • Clearly outline the terms and conditions, delivering customers with awareness and clarity in relation to the quotation.

Read more – Online Quotation Management Software

Sample of Sales Quotation Template

Quatation Sample
Quatation Sample
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How to format your Sales Quotes

To determine how a sales quotation should be formatted there are no legal regulations. However, it is advisable to follow a good idea – some basic formatting guidelines when sending quotes in business, and most businesses have quotation formats that are similar to their invoice formats.

Your quotation template should have the word ‘Quotation’ or ‘Quote’ or ‘Budgetary Quotation’ clearly visible at the top of the document so that your customers can easily distinguish the quotation from other documents. Generally, it is also common to have the quotation number, date, mode/terms of payment and customer contact address and contact details at the top of the quotation template, followed by the products details and total price. Your terms and conditions are usually at the bottom of your quotation.

Your quotations should be attractive, simple and easy to read, with a good layout and font. In case if you’d like to personalize or customize your sales quotation layout, you could add your company logo or choose colors that reflect your brand value.

Even though, you are sending sales quotations via email, be aware and ensure that how your quotes will look when they’re printed. A few customers prefer to keep physical records and they always take the printout apart from the email. Your quotation format should fit within the A4 paper sheet, and if necessary attach separate files. It’s always easy and comfortable to do this using an online quotation. 

Quotation vs. Proforma Invoice (PI)

Before the final details of a sale are confirmed a proforma invoice that is treated to be a non-official document (invoice) is sent to a customer . Proforma Invoices are generally used at the same point in the sales process as a sales quotation. However, quotations and proforma invoices present slightly different purposes.

A quotation would normally be sent if there is a customer inquiry, or if they require to know more about a service or product. Finally, a proforma invoice is sent to a customer if they have finalized to purchase, but cannot be sent a final copy of the invoice because the final details of the sale are not certain.

Quotation vs. Estimate

Similar to quotations, an estimates shared with the customers who enquire about a product or service. However, a sales quotation needs clear paraments (man power, time, raw materials, etc.) and relatively stable costs. This means that some businesses cannot give quotations because it simply isn’t possible to give a fixed price.

Instead of releasing a sales quotes, these businesses would prefer to issue an estimate, which is a non-binding approximation of what a work is likely to cost.

Quotations in SalesBabu CRM Quotation Module

Send personalized and professional sales quotations with Online Quotation Software in SalesBabu CRM Quotation Module. With our online business quotation templates, creating and sending sales quotes is quick and easy. From drop-down option pull your customer’s details, add your products and prices, then click the send button. Additionally, you can send quotes anywhere, anytime with the Android app.

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