Request for Quotations (RFQ)

Create an RFQ

An end user submits a purchase request specifying the items or services needed. The request includes:

• Item descriptions and quantities
• Required delivery date
• Technical specifications (if applicable)
• Budget or estimated value

Once submitted, the RFQ enters the sourcing phase.

AI Supplier Sourcing

ProcureFlow's AI automatically identifies potential suppliers based on:

• Historical performance: Past participation and award rates
• Category expertise: Suppliers who have delivered similar items
• Compliance status: Active suppliers meeting your organization's requirements

The AI generates a recommended supplier list, saving you hours of manual research.

Finalize Supplier Invitations

As the procurement officer, you review the AI-recommended suppliers and make the final decision on who to invite. You can:

• Accept the AI recommendations as-is
• Add suppliers from your approved vendor list
• Remove suppliers based on current relationships or capacity concerns

Once finalized, ProcureFlow sends RFQ invitations to all selected suppliers.

Suppliers Submit Bids

Invited suppliers receive the RFQ details through the Supplier Portal and submit their quotations. Each bid includes:

• Unit pricing and total cost
• Delivery timeline
• Payment terms
• Technical compliance (if specifications were provided)

You can track submission status in real-time and send reminders to suppliers who haven't responded.

BAFO Round (Optional)

For higher-value purchases or when initial bids are close, you can open a Best and Final Offer (BAFO) round. This gives suppliers one last opportunity to improve their pricing.

Note: BAFO rounds are optional and typically used for purchases above your organization's threshold. For low-value purchases, you can skip directly to evaluation.

Want to automate this step? See Automatically Triggered Negotiations to configure rules that open BAFO rounds automatically based on RFQ value and other criteria.

Evaluate Bids

ProcureFlow supports structured bid evaluation with two scoring dimensions:

The system flags anomalies automatically (unusually low bids, missing compliance items, or significant price variations) so you can investigate before making decisions.

Award Decision

Based on evaluation scores, you decide which supplier(s) receive the award. ProcureFlow supports:

• Single award: One supplier wins the entire RFQ
• Split award: Divide quantities across multiple suppliers based on capability or risk diversification

The system generates an award recommendation, but the final decision is always yours.

Approval Workflow

Once you've made the award decision, it routes through your organization's approval chain. Approvers can:

• Review bid comparisons and evaluation scores
• See the justification for the selected supplier(s)
• Approve, reject, or request changes

Approval workflows are configurable based on purchase value, category, or department.

Purchase Order Created

Upon final approval, ProcureFlow automatically generates Purchase Orders for each awarded supplier. The POs include:

• Agreed pricing and quantities
• Delivery schedule
• Terms and conditions
• Reference to the original RFQ for audit trail

Suppliers receive PO notifications through the portal, completing the procurement cycle.