Step 01
RFQ drafted
RFQ for the requisitioned item with quantity, target date and specs. Approved vendor list selected (or auto-suggested per category).
Procurement Software | RFQ & Quotation Comparison
RFQ to multiple vendors. Quotes side by side. PO from the winning quote.
Send a Request for Quote to multiple vendors via email or WhatsApp. Vendors submit quotes via the portal. Side-by-side comparison surfaces price, delivery and terms. Winning quote converts to a PO with full traceability.
How it works
From RFQ to converted PO.
Step 02
Sent to vendors
RFQ delivered via email and WhatsApp. Vendors log into the portal to submit quotes (price, delivery date, payment terms, validity).
Step 03
Side-by-side comparison
Quotes surface in a comparison view: price, delivery, terms, vendor performance score. Procurement picks the winning quote.
Step 04
PO from winning quote
Winning quote converts to a PO with one click. The RFQ, the quotes and the PO are all linked in the audit trail.
What the system does
Capability, input, output.
| Capability | Input | Output |
|---|---|---|
| RFQ creation | Item + quantity + target date + vendor list | RFQ ready to send |
| Multi-channel delivery | Vendor contact preferences | Email + WhatsApp delivery |
| Quote submission | Vendor portal entry | Captured quote with all terms |
| Comparison view | Multiple quotes | Side-by-side comparison |
| PO conversion | Winning quote | PO drafted with traceability |
-
RFQ creation
- Input
- Item + quantity + target date + vendor list
- Output
- RFQ ready to send
-
Multi-channel delivery
- Input
- Vendor contact preferences
- Output
- Email + WhatsApp delivery
-
Quote submission
- Input
- Vendor portal entry
- Output
- Captured quote with all terms
-
Comparison view
- Input
- Multiple quotes
- Output
- Side-by-side comparison
-
PO conversion
- Input
- Winning quote
- Output
- PO drafted with traceability
Compliance + integrations
RFQ as procurement decision evidence.
RFQ to multiple vendors is the auditable pattern. The quotes, the comparison and the decision rationale all preserved. Auditor sees the procurement decision chain.
Regulations we work within
-
Section 134(5), Companies Act
Internal financial controls evidence.
-
Rule 11(g), Companies Act
RFQ + quote + PO chain preserved.
Connects to
- Vendor portal Quote submission
- Email + WhatsApp RFQ delivery
RFQ & Quotation Comparison FAQ
What buyers ask.
How many vendors should we RFQ?
Best practice for non-strategic items: 3 vendors minimum. For strategic items: 5+ with at least 2 alternates outside the existing relationship. Configurable per category. Some categories (utilities, monopoly suppliers) skip RFQ.
Vendor doesn't respond to the RFQ. What happens?
RFQ has a deadline (configurable, typically 7 days). Vendors who don't respond miss the round. Reminder fires 2 days before the deadline. Patterns surface for vendor performance scoring.
Can we negotiate after the quote?
Yes. Reverse auctions and negotiation rounds are supported. The vendor sees their original quote, the procurement counter-offer and revises. The full negotiation history is preserved in the audit trail.
How is the winning quote chosen?
Procurement makes the call based on price, delivery, terms and vendor performance. The decision rationale captures in the audit trail. Some teams use weighted scoring (e.g., price 50%, delivery 30%, performance 20%); others use procurement judgement.
More in Procurement Software
Related features
Purchase Requisitions
Pre-PO requisitions with budget check, RFQ trigger, approval routing.
See Purchase RequisitionsPurchase Orders
Multi-line, multi-currency, multi-location POs with budget checks and approver routing.
See Purchase OrdersContract Purchasing
Rate cards, blanket POs, release schedules, consumption tracking.
See Contract Purchasing
Send an RFQ to 3 vendors. See the comparison.
Connect one entity, free. Send an RFQ for a real item to 3 approved vendors. The quotes come in via the portal; the comparison view, the winning-quote pick and the PO conversion all run on your data.