What is quotation in SAP XAP-CQM - Cost and Quotation Management (SAP xCQM)?

SAP Term: quotation

• Component: XAP-CQM

• Component Name: Cost and Quotation Management (SAP xCQM)

• Description: The response to an incoming request for quotation RFQ.

Smart SAP Assistant

• Key Concepts: 
  A quotation is a document created in SAP xCQM that contains the details of a proposed sale. It includes the customer's requested product or service, the quantity, the price, and any additional terms and conditions. Quotations are used to provide customers with an estimate of the cost of a purchase before they commit to it. 
  
  How to use it: 
  In SAP xCQM, quotations can be created from scratch or based on existing templates. The quotation can then be sent to the customer for review and acceptance. Once accepted, the quotation can be converted into an order and sent to the supplier for fulfillment. 
  
  Tips & Tricks: 
  When creating a quotation in SAP xCQM, it is important to ensure that all relevant information is included. This includes the customer's requested product or service, the quantity, the price, and any additional terms and conditions. Additionally, it is important to double-check that all pricing information is accurate before sending the quotation to the customer. 
  
  Related Information: 
  SAP xCQM also provides features such as cost analysis and pricing optimization that can help ensure that quotations are competitively priced. Additionally, SAP xCQM provides tools for tracking quotations and orders throughout their lifecycle.