Request For Quotation Marketplace Add-On

Note - This module is an add-on of Webkul's Marketplace Module. To use this module, you must have purchased and installed Multi Vendor Marketplace first.

Request For Quotation Marketplace Add-On allows the customer to send the RFQs to the marketplace sellers. Each seller can view and manage the RFQ from their end. The admin can configure auto or manual approval of RFQs from the back-end. With the help of Marketplace RFQ, the admin can create custom fields for the RFQ form. These additional fields allow the customer to provide detailed specifications of the items/services to the sellers. The more detailed the product specifications, the more accurate and comparable the quotations will be.

Business Value

Request For Quotation (RFQ) is a standard reverse auction process where the buyer invites multiple suppliers into a bidding process to bid on specific products or services. After receiving the RFQs, each seller sends its own quote for the product to the buyer. After approving the quote, the buyer can purchase the product at a competitive price.

Request For Quotation Marketplace Add-On can be used by buyers to contact various suppliers at once. RFQ is generally required when a buyer is looking for a custom product or service which is not available in the store. In these types of products, the requirement is gathered, discussed, price and quantity are negotiated and then the deal is closed. RFQ Marketplace Add-on will enable the customers to send the request for quotation to all the sellers at once. After that, each seller can manage the query from their end and discuss it with the customer.

Features List

• The admin can approve RFQs automatically or manually.
• The admin can enable or disable the module status.
• The admin can set the minimum default quantity for the RFQ.
• The admin can set the “Request For Quote Approval Required”.
• The admin can manage the requested quote easily.
• Create custom attributes fields for the RFQ form.
• Allow customers to send RFQs even if the product doesn’t exist in the marketplace.
• The admin can select the sellers from the list and send the RFQ to whom the quote should go.
• The admin can map attributes with the category to display the attribute field on the RFQ form.
• The Sellers can update the bulk order quantity.
• The Seller can communicate with a customer from their RFQ dashboard.
• The Seller will get the email notification once any RFQ created.
• The seller can view the requested quote product with the bulk quantity requested.
• The seller can view the list of all requested quotes and manage all from their panel.
• The customer can get a ‘Request For Quote’ button on all the product pages.
• Allow customers to send RFQs even if the product doesn’t exist in the marketplace.
• Once the seller reply to the requested quote, an email notification will send to the customer.
• Customers can communicate and discuss the quote with the seller from their RFQ dashboard.
• Customers can upload image files with the RFQ.
• The customer can select the desired product attribute with the RFQ form.
• Only Logged-in customers can send RFQs.

How Does The Extension Works?

Minimum Quote Quantity

After the successful installation of the module, the admin can set the status of the module as enable or disable. After enabling the module, the admin will be able to set a minimum quote quantity. The admin can even define the request for quote approval is required or not. If select Yes then admin approval is required else it will directly send to the seller.

Get Email Notifications

An email template can be customizable by the admin and generated when a new RFQ created when the customer added a reply when the seller sends any reply to the customer.

RFQ Form Custom Fields

After enabling the module, the admin can create a customized field for the RFQ form. Once the custom field is created, the admin can show or hide the selected field on the RFQ form using the checkbox. The admin can even show the product attributes field based on the category for the RFQ form. To do so admin has to map attribute and attribute set with the category.

Manage RFQ

Once the RFQ form is submitted, it sends to the admin (if approval is required). The admin can see the requested quote for the product, quantity requested, customer name, date created, and the status of the quote. The admin can send the RFQ to certain sellers from the seller list. 

Negotiate With Multiple Vendors

When a new RFQ is sent to the sellers by the admin, the sellers will get an email notification. Under All requested quote the seller can find all raised RFQ's that include product name, Customer Name, Created On, and Action along with filter option. If required then the seller can reply and communicate with the customer.

Request For Quote Button

On the product page, customers can view the RFQ button. When the customer will click on “Request for quote” a form will open. Here customers can enter Quote details.

Detailed Quotation Information

The customer can update quantity, upload additional images, and change the description. Also, the customer even selects attributes such as color, size, material, etc specified by admin while submitting the form.

If the product doesn't exist, this module allows customers to send an RFQ to all the sellers. After sending the RFQ, the customer can view and manage all RFQ's from the dashboard. If the quote status is approved, the customer can send a reply to the seller for any query or negotiation.

Quotation Status

Every quotation of the seller is automatically divided into five different status. Open – When the customer sends a reply to the seller, the quote status will become ‘Open’. Pending – All the new requests will be under ‘Pending’ status. Answered – When the seller sends a reply to the customer, the quote status will become ‘Answered.’ Resolved – When the customer accepts the offered quotation of the seller, its status will become ‘Resolved.’ Closed – When the customer accepts the offered quotation of the seller, its status will become ‘Closed’ for other sellers.

Benefits

For Store Owner

• It facilitates the admin to send the quote for the certain sellers to whom it should go.
• This module will help you to convert your guest users into a potential customer.
• The customers of the marketplace will purchase products in bulk and this will generate more revenue and a strong customer base.
• It sends admin email notifications each time a request for a quote is made.

For Marketplace Sellers

• This module has an incredible feature that builds a connection between the sellers and the customers.
• The seller can update the status of the quote and send the estimated price of the requested product.

For Customers

• An additional option to enter the details and send a quote for the product using multiple custom fields.
• All requirement is unique thus the customer can get the attribute field while filling RFQ that helps to elaborate product details for the quote.
• Enables the customers to request a custom price for buying the products in bulk.
• Receives an email notification when any request has been received or updated by the seller. This will help to take an immediate decision either to purchase or not.

Live Demo

You can check the live demo from here.

Support Policy

• You get free 3 months of technical support included.
• You can buy 6 or 12 months extended support agreement.
• For issues, please create a ticket or send email to support@webkul.com
• Free lifetime updates of the module.