If you’re entering the business arena, understanding the request for quotation (RFQ) form is crucial. It can help you successfully deal with vendors, suppliers, and service providers while simplifying your procurement processes.
However, only a well-crafted RFQ form can do that for you. In this post, we’ll tackle the RFQ form, what it entails, and how you can create one easily with Google Forms. Let’s start with understanding, “What is a request for quotation form?”
Understanding the request for quote form (RFQ)
The RFQ form is an essential component of the procurement process. It’s used to invite and collect competitive quotations from potential suppliers for specific products or services. A typical RFQ form includes the following:
- Scope of work
- Price quotation
- Delivery details or requirements
- Additional considerations
Scope of work is a detailed description of the deliverables, tasks, or activities to which the specific RFQ applies. There should be a distinct section for the final quotation where payment terms are also specified. Delivery detailsmay include the mode of delivery, delivery location, delivery schedule, and documentation.
Lastly, it’s crucial to have a section for anything else that a supplier may want to mention that sets their quotation apart. This may include things like flexible pricing, express delivery service, relevant experience, or even customer feedback. This structured approach ensures transparency and fair competition, helping businesses make informed decisions when selecting suppliers.
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How to create an RFQ template with Google Forms
Step 1: Start with a new Google Form
Go to your Google Forms.
Click on the ‘Blank form’ button to start a new form.
Give your form an appropriate title and description. In the description, you may add helpful information that helps the suppliers fill out the RFQ form. You can add other information here, like your evaluation criterion or any terms that apply to your procurement process.
Step 2: Enter fields for personal details for quoter and quotee
Now, it’s time to start adding your questions. We’ll collect information for three categories here:
- Personal details of the quoter
- Personal details of the quotee
- Identification details of the quote
Add the first question and edit the default multiple-choice question format to short answer text format with the drop-down menu next to the question field.
Click the ‘Add question’ button in the floating menu and add subsequent questions, such as company address or contact details.
Similarly, add questions to collect the details of the people to whom the quote is presented.
You may want to add a field to enter the reference ID for the quote and the date on which the quote is submitted. The reference ID is important, as it could help you refer to it in future negotiations. For the date of quotation question, you can opt for the ‘Date’ format in Google Forms.
Quotes are usually valid for a few days after the date of submission. This is decided by the vendor. For clarity, you can also insert a question here regarding the quote validity period.
Step 3: Enter a short answer to describe the project
Now, it’s time to add questions about the scope of work, goods, and/or services involved. These steps must be customized according to the project to which the RFQ form applies.
If the quotation is for goods, you’ll be inserting questions like ‘name of product,’ ‘number of items,’ and ‘price per item.’ If the project happens to be a service, you may want to add questions like ‘name of service, ’ ‘duration of service,’ and ‘scope of work.’
Sometimes, a project involves both. In such a scenario, you can clearly define the ‘deliverables’ and add individual sections to break down the goods and services involved.
To clearly demarcate it from the personal details, you can add it as a new section. Click the ‘Add section’ button in the floating menu to add a new section.
Name your section and add the relevant questions here.
After you’ve added all your questions describing the project's scope, add a separate one for the final quote.
Step 4: Enter a date question for the project timeframe
Now, it’s time to add the questions related to the project timeline.
Add the ‘Date of delivery’ or ‘Project start date’ depending on whether it’s related to products or services. Also, add the ‘Project end date’ and select the ‘Date’ question format for both.
Step 5: Include other RFQ questions to ask the client
Lastly, you should have a place for the vendor or supplier to ask you questions to complete the project successfully. These may be questions that ensure a comprehensive and accurate understanding of the project’s requirements. Each vendor may have their own questions, so consider opting for a long-answer format for this section.
Step 6: Create a binding document with Form Publisher
With those questions, you’ve made a successful RFQ form. Now, using a simple and handy add-on called Form Publisher, you can turn this Google Form into a workflow, and thus a procurement process. Here’s what you can do with Form Publisher and Google Forms:
- Turn each form submission into a digital document and save it automatically under a naming convention of your choice.
- Create approval workflows with which you can route these documents through the appropriate approving authority in your company.
- Add an e-signature request to turn the approved forms into legally binding documents.
In effect, that gives you everything you need to create a system that automatically routes received RFQs through the appropriate stakeholders. They can then answer the vendor’s questions and approve the most suitable RFQs.
You can also reflect your company’s branding on your RFQ forms. Learn how to make customized business forms with Google Forms.
Speed up the request for quotation form process with Form Publisher
With Form Publisher backing Google Forms, you can not only make better RFQ forms but also make more efficient procurement systems. Gone are the days of handling papers and taking days to collect and analyze RFQs to select a vendor.
With Form Publisher, you can do what once took days in minutes. Every second you save is time you can dedicate to growing your business. Want to experience efficiency in your request for quotation processes? Try Form Publisher!