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Looking for a smarter way to manage Request for Quotation (RFQ) processes? Hourglass IT’s RFQ-Quotation Software automates supplier bidding, quotation comparisons, and approval workflows—saving time, reducing errors, and improving cost efficiency.
Our Request for Quotation Software is designed to simplify procurement, enhance supplier collaboration, and provide real-time insights for better decision-making.
Request for Quotation (RFQ) Software is a digital tool that simplifies the process of collecting, managing, and comparing vendor quotes. Instead of manually sending emails or spreadsheets, businesses use RFQ software to automate requests, track responses, and select the best supplier offers.
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Manual RFQ processes are time-consuming, error-proneand lack audit trail. With RFQ-Quotation Software, you can:
Manual RFQ processes are slow, error-prone, and lack transparency. Our RFQ software eliminates these challenges by:
With Hourglass IT’s RFQ solution, procurement teams can cut cycle times, negotiate better deals, and maintain full control over vendor selection.
Suppliers receive instant notifications and securely log in to a dedicated vendor portal to view RFQ details, download specifications, and upload quotations. This eliminates back-and-forth emails and ensures all responses are stored in one place.
Instead of juggling multiple spreadsheets, our software collects all quotations in a structured format. You can filter, sort, and rank bids based on price, delivery time, or supplier ratings, making it easy to identify the best offer.
Maintain an up-to-date supplier database with contact details, past performance, and compliance certificates. Track which vendors respond quickly, who offer competitive pricing, and who consistently meet deadlines.
Our side-by-side comparison tool highlights key differences between quotes, including pricing breakdowns, payment terms, and lead times. This helps procurement teams negotiate better deals and select the most cost-effective supplier.
Set strict deadlines for supplier responses to prevent delays. The system sends reminders as the due date approaches, ensuring vendors submit quotes on time.
Every change, message, and approval is logged with timestamps and user details. This ensures full transparency for compliance audits and internal reviews while reducing disputes with suppliers.
Once a quote is selected, the system automatically converts it into a purchase requisition and routes it through predefined approval chains (e.g., manager finance procurement). Approvers get notifications, reducing delays.
Sync RFQ and Procurement data with your existing ERP or accounting software to avoid duplicate data entry and ensure seamless procurement-to-payment workflows.
Generate custom reports on supplier performance, cost savings, and procurement cycle times. Identify trends, such as which vendors consistently offer the best prices or fastest deliveries.
Create an RFQ in minutes by filling in product specs, quantities, and deadlines. Select suppliers from your database or add new vendors. The system auto-generates a professional RFQ document.
Suppliers receive automated alerts with a secure link to the RFQ portal. They can view requirements, ask clarification questions, and submit bids—all within the system.
Vendors upload their quotes directly into the platform, eliminating lost emails or manual data entry. All submissions are time-stamped for fairness.
Use the comparison dashboard to assess quotes. If needed, negotiate terms directly within the system via built-in messaging. All discussions are recorded with clearaudit trail.
After evaluating bids, select the best supplier with a single click. The system auto-generates a requisition form with all agreed terms.
The requisition moves through your approval workflow (e.g., department head finance team). Approvers get alerts and can review/approve with one click—no paperwork needed.
Our Request for Quotation Software is ideal for:
Ready to modernize your procurement process? Hourglass IT’s RFQ Software helps businesses automate quotations, improve supplier management, and reduce costs.
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By automating supplier communications, approvals, and quote comparisons, reduces manual work and speeds up procurement by 50% or more.
Absolutely! Our RFQ solution is scalable for startups and enterprises.
Yes! Our software can be tailored to match your specific approval workflows, document templates, and supplier evaluation criteria. You can define custom fields, approval hierarchies, and notification rules.
We use enterprise-grade security, including:
Absolutely. The software maintains historical data on:
This helps in supplier evaluation and contract renewals.
We've designed the supplier portal to be intuitive:
Yes! Our software connects with Hourglass IT’s ERP/procurement tools for seamless data flow and can integrate with other ERP systems like Oracle, SAP, NetSuite etc.,
Typical implementation takes 2-4 weeks, depending on:
We provide full training and support throughout the process.
We provide:
Typical results include:
Stop wasting time on manual RFQs. Switch to Hourglass IT’s Request for Quotation Software and experience faster, smarter procurement.
