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Enhance RFQ in Procurement with Automation

Quotation management and approval workflow simplified

rfq-automation

Benefits

Automate RFQ to PO Creation in a Single Click

Automated RFQ/Quotation comparison and evaluation

  • Eliminate the challenges associated with receiving quotations in diverse formats.
  • Generate detailed comparative analysis of RFQ responses, for criteria such as pricing, item quantity, net price, quoted price, total, and other relevant factors as per business requirement.
  • Easy Negotiation Outcomes with single window Comparison of selected quotations

Effortless integration with your system

  • Compleo can be seamlessly integrated with your existing ERP systems.
  • Implementation without the need for any additional programming.
  • Support and assistance during the integration process with your system ensures a seamless transition.

Eliminate errors and enhance accuracy

  • Improved decision-making ability to achieve more informed, data-driven, and transparent quotation selection.
  • Prevent any oversights in capturing quotations.

Tailored solution as per business needs

  • Customize the evaluation criteria based on the specific needs of the organization.
  • Complete workflow customization ensuring informed decisions are taken.

Architecture

Procure to Pay: RFQ Automation workflow

schema representing RFQ solution
  1. PR Raised: A PR is raised by the purchase department in the ERP.
  2. PR for Review: Compleo captures the PR and forwards it to the concerned authority within the organization for review and approval.
  3. RFQ Sent: Compleo creates and sends RFQ to a set of potential suppliers via a link to a portal. The vendors are expected to fill in the details for the sent RFQ containing all necessary details like product description and specifications.
  4. Quotations from each Vendor: Compleo seamlessly captures and collates relevant data from all the incoming quotations into an Excel Sheet.
  5. Best quotation selection: Compleo forwards the consolidated sheet to the Authorised personnel for effortless evaluation.

Read how our RFQ automation solution was implemented by a manufacturing company.

Features

Transforming RFQ process in procurement

Ready to elevate your RFQ processes and simplify procurement? Get a live demo Now!

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FAQ

Frequently Asked Questions

Our platform provides RFQ where some of the variable fields like rate, and quantity against each line item can be filled by a vendor. Our platform, however, does not allow a vendor to add any line item to the RFQ to maintain standardization

Yes, the solution can combine data from multiple quotations received for an RFQ, compare the data across every line item, and highlight the lowest cost. It also has the capability to highlight the lowest or highest values against desired criteria. These criteria could be variable with every RFQ depending on the customer’s business need.

In case of revision in the quotation, the supplier receives a copy of the RFQ, which is to be filled by the vendor as per negotiation using the link received on their registered email address.

The solution is customizable to the customer’s needs. An approval process can be initiated before or after combining the data. 

Yes, RFQ can be sent to a vendor who is not included in the standard vendor list. By entering standard details such as name and email address with Compleo, RFQs to the unregistered vendors can be sent.