What is a Request for Quotation?

Last updated July 26, 2023
Written by James Tabilog

A request for quotation (RFQ) is a business process in which a company or public entity requests a quote from a supplier for the purchase of specific products or services, it's a general term for formal sourcing activities in Felix.

Request for quotation is an optional feature for  organisations. If you wish to enable this feature for your organisation reach out to our friendly team for more information.

Key features

  • Send in RFQ's to the vendors.
  • This feature will allow you to manage the closing date of an RFQ, set permissions for vendors to update their quotes.
  • You will have the functionality to manage approval instances, send addendums to the RFQ, add new packages and documents, 
  • Invite additional vendors, send reminders to quote, compare quotes and pricing schedules between the vendors.
  • You can communicate directly to the vendors, it has a built-in filter Direct message feature to search the messages by Notice,  Addendums, or RFI.
  • Add in personal notes against the RFQ that is not shared with the vendors.

To learn more, you can click on this link on How to create an RFQ to get you started.

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