How to use Request for Quotation?

 

Create and Manage Requests for Quotation (RFQ) in AntMyERP

AntMyERP makes it easy to manage your purchase quotations from multiple vendors all in one place. The Request for Quotation (RFQ) feature helps your team raise purchase requests, collect vendor quotations, compare pricing and move forward with the best option efficiently.

To create a Request for Quotation:

• Go to the Purchase module and click on Request for Quotation.
• You’ll see all the existing purchase requisitions submitted by your team.
• After approvals from seniors or the finance team, select the approved requisition and click Get Quotation.
• Enter the date, time, and vendor names, you can select multiple vendors at once.
• Click Save to send the requirement mail to the selected vendors. They will receive your request and submit their quotations.

To review and compare quotations:

• Go to the In Progress tab to see quotations from different vendors.
• Compare prices, quantities, and vendor details.
• If a quotation exceeds your budget, click Action – Not Received, add a comment (e.g., “High price”), and save it. The quotation will move to the Completed tab with your remarks recorded.
• Repeat this process for all vendors until you find a suitable one.

To approve and generate a Purchase Order (PO):

• When a vendor provides an acceptable quote, click Action – Received and enter the final quotation amount, date, and time.
• Upload the quotation or supporting document and save.
• Then click Generate PO to open the Purchase Order form — all details will auto-fill.
• Save the form to complete the PO creation.

With AntMyERP’s RFQ feature, your entire quotation process from vendor comparison to purchase order generation becomes structured, transparent and efficient.