Advantages of Price Quotation Templates

  • September 23, 2022
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Price quotation templates are ready made formats of documents used for replying to requests from buyer companies when they put out a Request For Quotation (RFQ). They are widely used across different industries, and usually included alongside technical business information as a back up for the prices quoted for the item or service requested.

These templates usually consist of the basic information needed for any price quotation that needs to be urgently prepared, and have text/data boxes or fields created for quick entries. These include company name, address, quantities, rates, earliest possible shipping date, salesperson’s contact etc. Price quotation templates are of advantage as some of them can be further modified to incorporate any information not on the original template, and they can be downloaded for free from finance and business related websites.

Another big advantage associated with price quotation templates is that they can be utilized by spreadsheet and word processing software commonly available e.g. Microsoft word and excel. They can be edited to meet specifications, while some even allow company logos to be embedded, thus giving the document a more professional look. A few of the excel formats also have formulas embedded, to aid calculations when multiple figures and rates are part of the quote.

In addition, price quotation templates are readily available for use on the go, unlike those attached to the company’s network. If a Business Manager is at a remote location and needs to quickly showcase a documented bid to a prospective buyer, he can easily go online from his mobile, download an appropriate template, input required data and print via a Bluetooth printer. Thus, real time availability of these templates means no opportunity is lost, regardless of your location.

Finally, these templates serve as a means of increasing efficiency by reducing time spent on trying to develop quotations from the scratch every other time. For this reason, most Enterprise Resource Planning (ERP) software companies include templates of price quotations and virtually all business documents in their packages.

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Source by Stanley Hardin

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