What is bidding currency in SAP AP-RFQ - SRM RFQ Processing?

SAP Term: bidding currency

• Component: AP-RFQ

• Component Name: SRM RFQ Processing

• Description: The currency for the bidding process.

Smart SAP Assistant

• Key Concepts: 
  Bidding currency is a term used in SAP SRM RFQ Processing. It is the currency in which the supplier bids for the goods or services requested in the RFQ. The bidding currency is usually the same as the currency of the purchasing organization, but it can also be different. 
  
  How to use it: 
  In SAP SRM RFQ Processing, the bidding currency is set when creating an RFQ. The supplier will then enter their bid in this currency. The system will then convert the bid into the purchasing organization's currency for comparison and evaluation. 
  
  Tips & Tricks: 
  When setting up an RFQ, make sure to select a bidding currency that is most convenient for your suppliers. This will make it easier for them to submit their bids and will help ensure that you get the best possible price. 
  
  Related Information: 
  For more information on SAP SRM RFQ Processing, please refer to the SAP Help Portal or contact your local SAP representative.