3:11 Price Quotation

Organisations who require a simple solution for obtaining price quotations from suppliers without having to implement a full blown eSourcing or RFx solution, may implement the PECOS P2P 'Price Quote' feature (see Price Quote).

The feature allows a simple price quote to be sent to one or more suppliers as part of the requisition approval process. For example, procurement policy might dictate that all items over a certain value must receive a defined number of separate quotes.

An approver, with permission, is able to create a simple price quote containing catalogue or non-catalogue items selected from a submitted requisition. The quote contains a description, a respond by date, comments and attachments and can be issued to one or more selected suppliers. Upon publication, notification emails are automatically generated and transmitted to participating suppliers and the requisition is locked until the respond by date. Suppliers respond to the published quote and the requisition is manually updated through the existing approval edit screen in order to reflect the award of each item. When complete the requisition is unlocked and approved in the normal way.