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How to Make Quotation Which Your Clients Accept?

by | Aug 21, 2020

Importance of Quotations and its impact to your business

Small companies in India may attract more customers if they know how to create a quotation online that works for them. Many company owners are unaware that the manner in which they generate quotations online may cost them money. They don’t follow up on quotations or turn them around quickly enough, resulting in revenue loss.

SME’s encounter a number of financial difficulties, including maintaining a healthy cash flow and turning invoices into payments. Making the quotation generation process automated efficient and professional  may help them  get rid of delayed customer acceptance, right away! Simultaneously, it aids companies in receiving payments more quickly, thus increasing cash flow.

Having a hand in generating quotations that your customers approve may thus make all the difference. Imprezz, India’s best software for quotation management will enable you to automate end-to-end order processing starting from  creation of enticing , professional quotations online, that your customers won’t be able to ignore to converting the quotations into invoices wit a click.

Here in this blog, you will get to know 8 simple tricks of creating professional yet simple quotations that will impress your clients.

 

What is a Quotation?

Before we get into the details of how to make a quotation, let’s just understand what a quotation is all about – A quotation is a document that companies send to their prospective customers to offer their products and services at a set price and terms. Typically, quotes contain a detailed scope of work and also offer an estimate for deliverables.

Unless they are stated as an official part of a contract, quotations are not legally enforceable documents. When a customer accepts a quotation, they are obligated to complete the transaction at the agreed-upon price.

When Should Businesses Send a Quotation?

Clients often request quotations from companies when they want to learn more about the products or services before buying them.

Quotations must be sent within a few hours of the desired time. Customers who are interested in purchasing a certain product seek quotations from multiple companies; the one that responds the quickest, usually wins.

Simultaneously, companies must be able to correctly assess expenses and profit margins. To prevent delivering incorrect sales quotations to your customers, automate your quotation procedures with the help of an online quotation generator, like Imprezz (imprezz.in). Because a quotation is not a legally binding document, do not give exaggerated costs.

How to Make Quotation which Your Clients Accept –8 Simple Steps

A quotation may be in the form of a written document or a spoken suggestion. For companies to land on prospective customers, creating quotations and successfully managing quotation procedures is critical.

You can rapidly land a new business by automating quote procedures. It has the potential to boost overall company growth. Here are eight easy steps to creating a quotation online that customers will accept. A quote may be in the form of a written document or a spoken suggestion. 

  1. Select an Imposing Template

Generating quotations is a journey of discovery. It is more professional and impressive to use a standardized quotation format. You may create detailed quotes and modify specifics using templates that your customers will like.

On an online quotation generator, you may get a variety of sales quote templates. To create sales quotations, most Indian companies utilize bookkeeping or an online accounting software like Imprezz.

You may also use an accounting software to provide estimates. Imprezz has a cloud-based estimating function that allows you to create estimate quotations. You may send it to customers directly through email. Your customers may approve quotations automatically using this feature.

  1. Add Client Information

A comprehensive quotation helps people understand your goods and services better. To make your quotations seem more professional, you should add the following information.

  • Business Name
  • Company Address
  • Contact Number
  • Fax Number (If any)
  • Email Address
  • Contact Name and Title

However, don’t forget to include your contact information in the quote.

  1. Add Quotation Number

When you make quotations online using an accounting software, it creates a number for you automatically. However, the program must provide the ability to change the quotation number if necessary. Imprezz makes it seem so simple.

  1. Enter the Date of Issue

The issue date is the day on which you will submit your quotation to your customer. Because a quotation is typically only valid for a short period, including the “date of issuance” is critical.

You may also indicate whether or not your quotation is accurate. However, if you want, you may prolong or shorten the period specified.

  1. Include Your Products and Services

Under “line items,” list the goods or services you’re quoting. The products, product number, quantity, unit price, and total cost per item should all be described.

Separate the goods and services related to the various phases of a project. It’s also possible to separate labour and material costs. Imprezz provides you with industry-specific quote templates.

The picture below shows the pre-built Imprezz quote templates that are specifically tailored to the various industry kinds.

Prepare a cost breakdown. Include no information that isn’t related to the project. Add the expenses together to get your subtotal. Don’t forget to include any relevant taxes in the total.

  1. Mention the Terms and Conditions

You may indicate potential project modifications by mentioning terms and conditions. As a small company owner, you must clarify the product’s extra costs. Describe the circumstances under which extra charges may be imposed.

Mention how and when you’d want to be compensated for the work. Include payment methods and information. If you anticipate an upfront deposit for the job, let them know ahead of time. You have the option of receiving full payment upon completion or half payment up advance and half payment when the job is finished.

  1. Include Notes

In the notes, you may provide any extra information. It’s a great location to put information like the current time and expected finish date. Summarize the scope of your project, express gratitude for the chance, and inform your customer that you are eager to work with them.

  1. Add Optional Details

It’s possible that you wouldn’t want to provide precise details in your quotations. It is, nevertheless, a good idea to add some optional information. In your quotations, you may include the following components.

  • Purchase Order Number (The one you receive from the client)
  • Discount
  • GSTIN – Your Sales Tax Number
  • Signature

The mailing function of Imprezz.in is shown in the picture below. Once you’ve finished generating a quotation, you may send it to your customer straight from the Imprezz accounting software. Check your quotation’s spelling and grammatical correctness. Check that all of your calculations are correct. You may send the quotation to your customer after you’ve done all of the procedures listed above.

 

How to Format Quotations

There are no legal requirements for how a quotation should be formatted. You may, however, use some basic formatting when generating a quotation online. The majority of companies choose to use quotation forms that are comparable to their invoicing formats.

It’s a win-win scenario if your accounting software allows you to generate quotations and invoices on the same platform.

The image below shows Imprezz.in’s single dashboard feature, which allows you to create standardized quotes, customized quotes, and GST-ready invoices all on the same platform.

 

It is required that you use a template that says “Quotation” or “Quote.” It allows your customer to identify the quote apart from other papers.

The date, quotation number, and client information must all be included at the top. The product information and pricing may then be entered. Always include your company’s contact information at the bottom of the quotation template.

Make sure your quotations are simple to read by using clear fonts and a well-designed layout. Personalize the quotation format by including your business logo. Always keep in mind that your logo should represent your company’s image.

Make sure your quote appears great when printed, even if you’re sending it. A printed record may be desired by certain clients. Check to see whether your quotation will fit on an A4 sheet. If necessary, attach files individually.

You may use an online quotation generator to automate all of your quotation procedures. It makes it simpler to come up with interesting quotes. It also assists you in keeping track of quotations given to customers.

Quotations v/s Proforma Invoices

Understanding the difference between a proforma invoice and a quotation is critical for any company. A proforma invoice is an unofficial document provided to a customer before the final details of the project are confirmed.

A proforma invoice is often used at the same time as a quotation in the sales process. A proforma invoice and a quotation, are designed for distinct reasons. In most cases, a quotation is given to a customer in response to an enquiry. A proforma invoice is issued when a customer wants further information.

In a nutshell, quotations are provided to potential customers, and proforma invoices are issued after the client has made a purchase commitment. Proforma invoices are used when a company cannot issue a real invoice because the sale is still pending.

 

Quick Tips on How to Make Quotation Which Your Clients Accept

  • Create an accurate sales quotation 
  • Send a quotation within 24 hours 
  • Include a quoting engine on your website 
  • Follow up regularly after you’ve sent a quotation
  • Always ask prospective consumers questions and learn from your errors.

 

Advantages of automated Quotations over Manual entry

Request a Quote Immediately

The advantage of using an online quoting tool is that you can get a quote very quickly. It will take some time to manually calculate the quote, and consumers are often in a hurry. Because of the automated process, the quote will be accessible in seconds.

Furthermore, not only will the quotes seem professional, but you will also have documentation of when they were supplied and when the customer viewed them. The most advanced software also shows the status of the quote and whether or not the client has accepted the offer.

 

Accuracy

When manually quoting, it is easy to make a mistake. This involves returning to the beginning and beginning the process all over again. Worse still, you might lose a client. The quickness and precision of an automated quotation will amaze any customer. There is no space for mistake since everything is done automatically.

 

Number of Offers

We can only handle a fixed amount of quote requests each day since we are simply humans. Assume you’ve been assigned a more significant assignment. You’ll have to supply a portion of the quotes late since you don’t have the finances to recruit extra people. This does not offer you a professional look, and the calculating method takes a long time, not to mention having an impact on your potential revenue.

When working with automated software, it doesn’t matter whether you have 2 or 2,000 offers every day. All of the labour may be done by the automated program, and everything will be delivered on time.

 

Report Delivery

You may wish to check at a sales report to see how many customers have sought quotes and how many have accepted them. Manually creating a report requires searching through archives and manually creating graphs and sheets, which might take hours or even days.

When you use automated tools to make a report, you just have to spend a few minutes and click a few times to get a complete analysis of the time period you’ve selected. This will allow you more time to go through the report and make any modifications that are needed in the future.

 

Creating Quotations Made Easier with Imprezz

Managing your finances through spreadsheets can be stressful. It curbs the business accounting workflow. It is vital to have access to all your financial data at your fingertips.

With Imprezz, you can see the summary of quotes in progress. You can see whether it is a draft, sent, accepted, or expired quotation. With Imprezz, it is easy to track your quotes, automate the follow-up procedures, and keep your business on track.

You can automate quotation processes on Imprezz.in. Create a quotation in just a few clicks. Worry no more, send standardized quotes with no hassles.

 

Conclusion

Sales does not have to be a difficult process. Determine your unique selling proposition, set a reasonable price for your product or service, and sell. It’s that simple!

Never go head-to-head with other bidders. Try to figure out what you’ll need to verify your project’s authenticity. Then adjust your margins as needed.

We hope that our detailed advice on how to create a quote that your customer accepts has been of use to you.

Do you want to automate your bookkeeping chores using accounting software? Imprezz.in allows you to quickly create quotes. For small companies in India, we provide a 14-day free trial software package. Begin immediately!

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