Purchase Quotation is the written financial proposal received by the customer from the vendor regarding the inquiry being fired. In business, product selling and purchasing involve two aspects . One is from the vendor’s side and the other, the customer’s side. Whatever is processed from the vendor part, almost similar activities are reciprocated from the customer part.
A quotation is a price proposal document offered to the customer against his inquiry. The entire business process can be summarized as follows. Firstly, the interested customers send a proposal request to all the suppliers. This is called Request for Quotation or RFQ. This RFQ involves information like prices, payment and delivery terms, and quality level per item. RFQs provoke various vendors to offer a quotation, out of which one is selected which is most suitable to the needs of the client. This is supposed to be an optimistic step to procuring a product.
Benefits of Online purchase Quotation: Online Purchase Management System
Purchase Quotation presents the complete price structure of the inquired product along with any hidden cost if involved.
Online Purchase Quotation is beneficial as it is always within the reach of both the customer and the vendor.
Online purchase management software helps you manage all the purchase quotation in the cloud. Thus all the quotation are readily available for any kind of analysis ad future reference.
SalesBabu Purchase Management software helps you in the smooth management of all the purchase quotations. Often, in any small, medium or larger firm; purchase quotation has a lot of significance. Purchase quotation helps you analyze which vendor can meet your product demand. Also, it helps you identify which product was most suitable and accordingly, you can manage your inventory from the same vendor. A good vendor relationship is also important so that you can meet your firm demand well on time. SalesBabu Purchase Management System helps you accomplish all this.