Request For Quote
A Request for Quote(RFQ) System allows for the issuing of multiple quotes out to vendors and quickly compares responses to place the best order for your organization. An RFQ System increases visibility and streamlines the ordering process, saving your organization time and money. With an online system that can be hosted on the Cloud or on your internal servers there is no software to install on PC's. Users and management can access their information from anywhere in the world.
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What is a Request for Quote System?
A Request For Quote (RFQ) module is commonly used by organizations that are looking for a speedy, simple way to send out one or more item request to multiple vendors for pricing information. The vendors then all respond with their best pricing quote.
Once this information is in the system, the Purchasing Agent in your organization uses various tools in the RFQ System to quickly compare the quotes, checking off the items they wish to purchase from each vendor then single clicking an option to create a Purchase Ordesr for those goods. Since the vendor, items, quantities and prices are already known this information is automatically on the Purchase Order, saving time and eliminating user entry errors.
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