Quotation Process & RFQ
- Updated on 23 Dec 2019
- 1 minute to read
In the B2B world, it's a common practice to have a default price for every product. However buyers always want a better price, and the possibility to negotiate a discounted price with suppliers, just like in a real shop, is a boon to them. Request for Quote is a great opportunity for potential suppliers to bargain the final price for products competitively. In other words, with the Request for Quote (RFQ) feature the B2B customers ask for special prices, and suppliers can get back to them with a compromise pricing suggestion.
RFQ is a simple, great way for B2B buyers to choose the best supplier and get the lowest price for the products they buy from the sellers. Other benefits that you will enjoy after you integrate Request for Quote into your project are:
The RFQ feature makes the online store customers feel like they are in a real store, which builds their trust.
Direct interaction between shop owners and buyers creates customer loyalty and increases sales.
If buyers negotiate better prices, they will most likely make the purchase immediately.
If you are:
- Familiarize yourself with Quotation Process & RFQ
- Integrate the Quotation Process feature v.201907.0 into your project
- Integrate the Quotation Process + Multiple Carts feature v.201907.0 into your project
- Integrate the Quotation Process + Approval Process feature v.201907.0 into your project
- Integrate the Quotation Process + Checkout feature v.201907.0 into your project
- Integrate the Approval Process feature v.201907.0 into your project