QUOTATION MANAGMENT

What is Quotation Management?

Quotation Management System ( QMS ) Software means designing and automating the client's Quotation. QMS Software objective is to improve as well as enhance client's business efficiency in creating and generating quotations, emailing quotations, maintain billing, and shipping information and providing enhanced QMS reporting features.

In layman terms, it is the tool that starts the sales process by allowing multiple aspects of your company to identify potential leads, and prepare for the forecasting of those sales in production.

Essential Features in a Quote Management System

Any modern high-level quotation system would include,

Centralized solution for all branches/showrooms: There are many showrooms of the same business located in different places. In order for them to display the same quote, your QMS system should be centrally integrated and managed so that all the retail branches/ showroom are in sync with another. This centralizes the marketing strategy and helps create brand recognition among consumers.

Multiple Quotation Version Management: The most important aspect of any software or system is to be versatile with the changing trends as well as the needs of the people. Same goes with the quotation management system, it should be capable enough to make regular changes to its system according to the changing needs of people. Also, the agents should be able to access all the different versions from the same quote itself.

Search Quotation by Customer Details: To look for the customer details can be an excruciating and draining job. The Quotation Management System should allow an executive to search for a quotation by just entering the customer details. The system should show all quotations requested by a customer over a period of time.

Add Notes to Quotation An agent should be capable of adding personalized notes to the quotation for servicing and accessing the quotes in the future. Such notes will help other agents to understand the customer requirements, even when the agent who created the quote is not available.

Employee/Agent Dashboard: Any quotation management system should have a dashboard for an employee or agent access since it would help him in giving a holistic view about the quotations being generated and also, the follow ups as they require maximum sales revenue.

Performance Reporting: Under this, the quotation management system should be capable of observing and analyzing the performance of the agents and employees across the multiple locations and reporting it to the management.

Follow-up Reminders: A sufficient quotation management system comes with a feature of follow up. The quotation management system should be capable of reminding the agents to follow up with customers via periodic follow up notifications and reminders.

Built-in Email Send Feature: Agents should be able to send quotations to customers via email directly from the quotation management software, itself.

Customer Profiles: The quotation management system should be able to create, store and retrieve detailed customer profiles with their personal details, contact information and past quotation request and order history.

Agent Fee/Commission Customization: The QMS system should allow the management to create separate commission structures for each agent according to their performance and past activity.

Admin Panel: The admin panel should give the management a clear picture of the business, including all quotations generated, and other parameters to measure business performance. Also, the admin panel should allow the management to add/remove agents and manage entire business operations.