Request for Quotes - Overview

Request for Quotes are documents organizations send to vendors detailing the required items. You can invite vendors to bid on a request for quote and award the items to vendors of your choice. Let’s see how request for quotes work in Zoho Spend.

Statuses of a Request for Quote

A request for quote in Zoho Spend can be in one of the following statuses:

• Draft: All request for quotes created but not submitted for approval will be in the Draft status.
• Awaiting Approval: Request for quotes that are yet to be approved by the approvers will be in Awaiting Approval status.
• Recalled: If the submitter wants to edit a request for quote that is awaiting approval, they can recall it. Once recalled, the request for quote will be in Recalled status.
• Approved: Request for quotes that are approved by approvers will be in the Approved status.
• Rejected: Request for quotes that are rejected by approvers will be in the Rejected status.
• Published: To allow vendors to participate in the bidding process for request for quotes, you need to publish them. Once published, the request for quotes will be in the Published status.
• Awarded: Request for quotes for which items have been awarded to vendors will be in the Awarded status.
• Canceled: If request for quote are no longer needed, you can cancel them. Such request for quotes will be in the Canceled status.
• Closed: Request for quotes that have served their purpose—items have been awarded and they have been converted to purchase orders—can be closed. Such request for quotes will be in the Closed status.