Streamlining Your Quotation Processes
Managing multiple contractors, work orders and requests for quotes can be overwhelming for businesses and their facility managers. When the need for new repairs or defects arises, obtaining and comparing quotes can be extremely time consuming and tedious. What if there was a way to streamline this entire process end-to-end while also ensuring efficiency, transparency, and accuracy?
Facility managers often face several challenges with traditional quote management processes. Inefficiencies and lack of transparency in standard approaches are consistently a result of:
- Inconsistent workflows: Contractors often submit different quotation templates and workflows for approval. The lack of standardisation means increased errors and oversights.
- Inability for pricing comparison: The ability to validate contract pricing against agreed rates or market pricing is difficult with standard or contractor third-party platforms. Facility managers may inadvertently approve quotes without obtaining up-to-date prices leading to potential overpayment and significant markups on subcontracted services.
- Manual handling: Traditional methods are labour intensive, time-consuming and result in ongoing inaccuracies.
Innovative Solutions for Quotation Management
With advanced tools, data insights, and 24/7 access to accurate information, new platforms are increasing efficiency, saving money, and providing businesses with peace of mind. Verified’s quote solution handles everything across the full lifecycle and quotations. Our advanced and customisable workflows manage requests for quotes from new and existing contractors, tracks in-field work requested by existing contractors, and validates quotes against contracted prices. By providing a single source of truth through a centralised and integrated approach, all contractors can provide streamlined and consistent quotes. This makes it easier to evaluate received quotes and ensures facility management teams have visibility over each stage of their procurement process.
Benefits For Your Business
Leading Australian organisations are using the power of advanced quotation management. Here are some of the best features of Verified’s platform and how clients are improving their existing quotation processes:
- Instant Pricing Validation – Transparency: Quotes are instantly validated against the predefined contract specifications and agreed pricing. Furthermore, contractors must provide evidence for their pricing, including sub-contracting arrangements. This ensures that pricing is compliant with the agreed contracts (for time materials and markup). Where pricing is misaligned with the contract, facility managers immediately see flags identifying and highlighting the discrepancies.
- Process Automation – Efficiency: The platform automates critical procurement stages from customised quote template options, quote generations, sharing and approvals. Further, it immediately delivers received quotes in a standardised format to facilitate fast approvals and to reduce manual intervention. Facility managers can also request quote revisions, reject comparative quotes, and manage quote versions easily.
- Data Reporting & Audit Compliance – Accuracy: The comprehensive audit log tracks user activity 24/7, compliance, and actions undertaken for each quote. The platform provides superior data integrity, effective vendor management, predefined quote templates and comprehensive reporting including, time onsite, verification against time quoted and invoiced, and onsite response time KPIs.
By overlaying these features, our platform delivers a transparent and validated quoting process that maintains integrity, offers enhanced flexibility and enables long term strategic decision-making.
Your Verified Benefits
Verified’s quote management solutions provides clients with a simple, yet powerful, full quotation lifecycle management system. It’s time to generate error free quotes for contracted parts and labour in line with service level agreements. Speak with us regarding how we can implement some of these important solutions for your business today.
To learn more, schedule a demo or call us on 1300 133 950.