Microsoft Dynamics 365 for Sales empowers businesses by providing them with a 360-degree view of their customers. As an effective CRM software allows them to act based on insights, drive personal engagement, & close deals faster. At the same time, it also streamlines customer interactions & customer relationships and promotes brand loyalty.
We know that sales order processing is an integral part of the sales cycle for any business. And with Microsoft Dynamics 365 for Sales, businesses can efficiently manage all the aspects of sales order processing, such as order management & invoice processing.
This blog will look at how businesses can effectively create & manage sales quotes using Microsoft Dynamics 365 for sales
What is a Sales Quote?
In Microsoft Dynamics 365 for Sales , businesses create a sales quote whenever a customer asks for an estimated cost for products and services at specific prices, payment terms, etc.
What is a Quote Product?
Using Microsoft Dynamics 365 for Sales, businesses can put multiple line items on a quote. Moreover, these line items, also known as Quote Product, enables them to effectively calculate and track products, prices, and quantities.
Creation of Quote
In Microsoft Dynamics 365 for Sales, businesses can create a Sales quote manually. Moreover, they can also create a quote directly from opportunity records. In the case of quote creation through opportunity, the quote is pre-filled with already existing information such as attached line items, pricing information, etc.
Working With Quote Products
Whenever businesses create a quote in Microsoft Dynamics 365 for sales through opportunity, the product line items on the opportunity are automatically added to the quote. Further, it displays the products associated with the quote in the product sub-grid. Besides, businesses can also add or remove the individual product line items depending on their requirements. Moreover, it also offers a Quick Create Form that allow them to add products manually.
Sending a quote
In Microsoft Dynamics 365 for sales, a quote is in the form of a draft in the initial stages. As a result, businesses can add or remove products depending on their requirements and modify the quote. However, it is essential for businesses to activate the quotation before sending it to the customer. Moreover, businesses can use the word template feature and generate the quotes as Microsoft word documents.
Revising a quote
With Microsoft Dynamics 365 for Sales, businesses can incorporate changes that the customers require. They can easily do so by revising the quote. However, whenever businesses revise a quote, it closes the original version of the quotation. Instead, it offers a newer version of the quote with an updated revision number. Furthermore, after incorporating the changes, businesses can again activate the quote and send it to the customers.
Closure of Quotes
In Microsoft Dynamics 365 for Sales, once the customers accept a quote, businesses can generate an order. Moreover, they can add the contents of the quote to the to the order record & close the quote. Similarly, if businesses generate a quote from an opportunity, they can close it by closing the opportunity. Further, businesses can also close a quote without generating an order.