SRM automates the quote request (e-Quote) process by doing the following:

Data extraction and transformation

Identify the source

Identifying the purchase request where the data resides.

Data extraction

Extracting relevant data from the purchase request, such as item details, quantities, specifications, delivery requirements, and supplier information.

Data transformation

The extracted data is then transformed into the format required for the quote request (e-Quote).

Quote request (e-Quote) creation and population

Create quote request (e-Quote)

Creating a new quote request (e-Quote).

Populate with data

Populating the quote request (e-Quote) with the data extracted and transformed from the purchase request.

Add supplier information

If necessary, identify and add the appropriate suppliers to the quote request (e-Quote) based on the purchase request data or predefined rules.

Quote request (e-Quote) submission and workflow

Save and submit

Saving the completed quote request (e-Quote) and submits it for approval or further processing.

Workflow automation

Automating subsequent steps in the quote request (e-Quote) workflow, such as sending notifications, tracking responses, and managing the quotation process. operations.

The benefits of quote request (e-Quote) automation is as follows:

Increased efficiency

Automating the process reduces manual effort and time spent on quote request creation.

Reduced errors

Automation minimizes the risk of human errors in data entry and quote request creation.

Improved accuracy

RPA ensures that quote requests (e-Quotes) are created accurately and consistently based on the purchase request data.

Faster turnaround time

Automation speeds up the entire RFQ process, allowing for quicker responses from suppliers.

Cost savings

By automating repetitive tasks, RPA can lead to significant cost savings in procurement operations.