A quote is a documented statement a seller prepares for a potential buyer. It outlines the price and sale conditions for a specific range of goods or services.
It is a kind of specification document that informs the buyer of the product cost and the transaction details. Negotiations are an inseparable part of working with a client, and quoting is needed to define the terms of the offer and the price.
Itemized List: An itemized list is a list of the products/ services that distinguish quantity, description, and unit price.
Total Cost: The total cost is the final price that includes taxes, additional charges, and any discounts or offers provided to the client.
Terms and Conditions: Terms and conditions include the details related to payment terms, delivery time frames, warranty periods, and other conditions of the sale.
Validity Period: The validity period is the timeframe during which the quote is valid, after which the company reserves the right to change the terms and prices.
Clarity: Quotes enable potential buyers to obtain objective information on the price and conditions of the purchase.
Professionalism: Quoting is a professional business practice that helps to develop a rapport between the seller and the prospective buyer.
Sales Process Efficiency: Quotes transform the sales process by allowing clients to quickly understand the agreed-upon price and other related terms to minimize the potential for disputes.
EngageBay offers tools for easily creating and managing quotes, allowing users to generate professional, more itemized, and well-structured quotes.
Linked quotes connect directly to customer profiles in EngageBay’s CRM, where all the documents and communications related to the quotation are organized. You can also track the quote statuses, automate email messages for quick responses, and improve your chances of closing deals.
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