Business Automation

Quotations and estimates are important stages in any business process.  Growing revenue was certainly the result of a systematic approach combined with a proper follow-up mechanism. We will examine the areas that need to be strengthened while making a quotation or estimate in this article.  Presenting the document to customers is an important aspect often overlooked.  Towards the end of this article, we have included a sample template. Quotes or proposals are to have a header image that shows your company logo, usually placed at the top right or left corner, along with the company name highlighted, contact information, and any statutory information, such as company incorporation number, etc. The next section is the subject line, reference details, and contact information from the client. Additionally, the quotation validity date and the enquiry reference number should be included as well. Then comes the commercials part along with the taxation details. You should be more...

Most businesses overlook the importance of the Request for Quote or Request for Quotation step in the procurement process. Why do we say RFQ is one of the important steps? We say it because this step gives an ability to make very precise decisions in procurement which helps prevent revenue leakage and also helps in other aspects like managing the delivery timelines and even fulfilling the delivery commitments to your customers. Let's understand what is RFQ, as the name suggests it's a request for quotation which is to be sent to vendors/suppliers.  When we are procuring goods/items/products we usually connect to the vendors and place the order by raising the PO or the Purchase Order, RFQ comes before the PO step, instead of directly sending the PO an RFQ is raised first and sent to multiple vendors this RFQ can have multiple attributes like the goods/items/products name, the quantity you want to buy, and the description of the goods/items/products. In response typically you wil...