What is approval status in SAP AP-RFQ - SRM RFQ Processing?

SAP Term: approval status

• Component: AP-RFQ

• Component Name: SRM RFQ Processing

• Description: A status variable indicating the status of a request for quote or a supplier quote within the awarding approval process. A request for quote or a supplier quote can, for example, be in approval, rejected, approved, withdrawn or in revision.

Smart SAP Assistant

• Key Concepts: 
  Approval status is a feature of SAP SRM RFQ Processing that allows users to track the progress of their requests for quotations (RFQs). It provides an overview of the current status of the RFQ, including whether it has been approved, rejected, or is still pending. 
  
  How to use it: 
  To view the approval status of an RFQ, users can go to the “RFQ Overview” page in SAP SRM. Here, they will see a list of all their RFQs and their current approval status. The approval status can be changed by clicking on the “Change Status” button. 
  
  Tips & Tricks: 
  It is important to keep track of the approval status of your RFQs in order to ensure that they are being processed in a timely manner. If an RFQ has been pending for too long, it may be necessary to contact the approver directly to check on its progress. 
  
  Related Information: 
  For more information on SAP SRM RFQ Processing, please refer to the official SAP documentation. Additionally, there are many online resources available that provide tutorials and tips on how to use this feature.