QUOTATION SYSTEM Meaning and
Definition
-
A quotation system refers to a computer-based program or software that is designed to help businesses generate and manage price quotes or estimates for products or services. It is used extensively in industries where pricing is variable and tailored to specific customer requirements, such as manufacturing, construction, and service sectors.
The quotation system automates the process of creating accurate and customized price quotes by allowing businesses to input the necessary information, such as product details, quantities, discounts, and customer-specific requirements. It then calculates the total cost based on pre-defined pricing rules or algorithms. The system may also generate professional and standardized quotation templates or documents that can be easily shared with customers.
A quotation system offers several benefits for businesses. Firstly, it saves time and reduces errors by eliminating the need for manual calculations and paperwork. It also provides consistency in pricing across different customers and ensures that price quotes adhere to company policies and strategies. Additionally, the system allows businesses to track and manage quotes, enabling better decision-making and analysis of sales performance.
Moreover, a quotation system facilitates efficient communication between sales teams and customers. It enables sales representatives to quickly respond to customer inquiries, modify quotes, and negotiate terms without delays or confusion. Some advanced quotation systems may integrate with other business software, such as customer relationship management (CRM) or enterprise resource planning (ERP) systems, further streamlining the sales process and enhancing productivity.
In conclusion, a quotation system is a computer program that helps businesses generate accurate and tailored price quotes efficiently, enabling effective sales management and improved customer satisfaction.
Common Misspellings for QUOTATION SYSTEM
- 1uotation system
- 2uotation system
- wuotation system
- auotation system
- qyotation system
- qhotation system
- qjotation system
- qiotation system
- q8otation system
- q7otation system
- quitation system
- quktation system
- qultation system
- quptation system
- qu0tation system
- qu9tation system
- quoration system
- quofation system
- quogation system
- quoyation system
Etymology of QUOTATION SYSTEM
The word "quotation" originated from the Latin word "quotare" which means "to mark by numbers", "to count", or "to enumerate". In English, it first appeared in the mid-15th century, referring to the practice of numbering sentences or passages in written texts.
The word "system" traces back to the Late Latin word "systema" which means "organized whole" or "combination of things or parts forming a complex or unitary whole". It entered English in the early 17th century from the Greek word "sustēma", meaning "totality", "whole made up of several parts", or "organized body".
The combination of "quotation" and "system" gives rise to "quotation system", a term that refers to an organized method or framework for collecting, managing, and attributing quotations or quotes within a particular context or domain.
Infographic
Add the infographic to your website:
