What is sales quote in SAP SRD-CRM - CRM-Customer Relationship Management?

SAP Term: sales quote

• Component: SRD-CRM

• Component Name: CRM-Customer Relationship Management

• Description: A supplier's legally-binding offer to a customer for the delivery of goods or services, valid for a specific period of time, and according to fixed terms. The sales quote contains conditions leading to the sales order.

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• Key Concepts: 
  A sales quote is a document created by a salesperson or customer service representative in SAP CRM that outlines the terms and conditions of a potential sale. It includes the product or service being offered, the quantity, the price, and any discounts or special offers. The sales quote is used to provide customers with an estimate of what their purchase will cost. 
  
  How to use it: 
  In SAP CRM, sales quotes are created in the Sales Quote Management (SQM) application. The salesperson or customer service representative will enter the customer’s information, select the products or services being offered, enter the quantity and price, and then submit the quote for approval. Once approved, the sales quote can be printed or emailed to the customer. 
  
  Tips & Tricks: 
  When creating a sales quote in SAP CRM, it is important to double-check all of the information entered to ensure accuracy. Additionally, it is important to include any discounts or special offers that may be available to the customer as this can help increase sales. 
  
  Related Information: 
  For more information on creating and managing sales quotes in SAP CRM, please refer to the SAP Help Portal. Additionally, there are several online tutorials available that provide step-by-step instructions on how to create and manage sales quotes in SAP CRM.