A sales quote is a document that states the price for goods and services to be sold. You can get fixed prices or even estimates and detailed item-by-item breakdowns in a quote. Use Taimer's CPQ software to make your sales process more lean, sell accurately, and save time .
Learn how to:
Create a sales quote
Define cost types
Add products to a quote
Use CPQ to quickly and accurately generate quotes
Add updated versions of a quote
Evaluate profit margin and actual costs vs. estimates
Send a quote
Assign tasks from a quote
Plans & Permissions:
Plans: Free CRM, SalesCRM, PM, ERP
Permissions: Sales Quotes access
How to create an offer/sales quote
A sales quote is sent by a seller to a prospective buyer to show the costs involved for the work that needs to be done. To create a sales quote for a project:
Navigate to a project from the Pipelines list or Projects list
Click on the Project from the list
Navigate to Sales in the header
Click on Edit
Name the quote
Add the buyer and seller details
Click on Add New and select the relevant option from the drop down
Click on save
To- Customer info. and company details
From- Seller info. and company details
Sent- The date when the quote was sent
Valid until- Until when is the quote valid
Header- Item title
Description- Item description
Item- Product or service being sold
CPQ grouped- Product bundles grouped in the CPQ system
CPQ specified- Individual list of products from the CPQ system
Unit- Quantity of items
Qty- Quantity in case of products and hours in case of services sold
Unit cost- Cost price of a single item
Selling price- Selling price of single item
VAT%- VAT percentage
VAT total- VAT amount
Discount%- Discount percentage offered
Sum 0%- Selling price post discount for total units
Margin- Profit (Sum 0% - Cost price for total units)
Type of work- You can choose from Services, Hours, Sub-contracting, Expenses, Products.
Defining cost type for each row
By defining the type of work, you will be able to compare the actual costs accrued versus the initial costs that were estimated in the quote.
For example, when there is an expense associated with this project and is targeted to this quote, you can see the difference between the initial expense that was estimated in the quote vs. the actual expenses that have been accrued. This comparison can be seen in the Cost targeting/Cost variance table on the right.
Hide columns and rows in the sales quote pricing table - You can choose the items that you'd like to show in the sales quote PDF file that is sent to your customer. Click on the eye icon above the table to select the columns that you'd like to hide and the more options icon (...) next to a row to hide specific rows.
What is Taimer CPQ?
Taimer CPQ, or Configure Pricing and Quoting Software is a sales tool for companies to provide accurate pricing with any given product configuration scenario. CPQ applications take into account optional features, customizations, quantities, and discounts, allowing sales reps to quote prices quickly and accurately.
Taimer CPQ gives your sales team easy to use software, available on any device due to its cloud based platform.
Calculating cost variance and profit margin
When you have filled in all the details in the given fields, Taimer will automatically give you the project margin.
Cost variance or Cost targeting
The cost variance table in Taimer gives you a comparison of the costs that were budgeted initially for the project versus the actual costs incurred upon project completion.
With this, you have total visibility of your actual costs vs. your budgeted costs. Click here to learn more.
Create multiple versions
You can create several quotes for one Lead/Project. In order to do so, click on Options and choose New quote. From the Functions on the right, you can define which Quote is the Active Version.
Send a quote
To send the quote, navigate to Options in the header and click on print. This will generate a PDF version of the quote which can be emailed to the prospective buyer.
Assigning tasks from a quote
You can assign tasks directly from the quote to a user. Once the quote is saved, click on the add task icon (∧). Update the task details and click on Save.