Quotation Management Software: Simplifying Your Business Quotes

September 23, 2025

6 min read

Whether your company deals with subscription services, billing, invoicing, or CPQ (Configure Price Quote) processes, having the right tools can save time, reduce mistakes, and improve the way your business handles offers.

A quotation management software is more than a tool for creating documents it is a system that helps you manage your pricing, approvals, and client communications in one place. Businesses of all sizes can benefit from using such software to stay organized, track performance, and close deals faster.

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Quick Read

Summary generated by AI, reviewed for accuracy.

Automate and streamline your entire quotation process. Generate accurate quotes quickly, manage approvals, and track every proposal in one centralized platform. Gain actionable insights, reduce errors, and accelerate your sales cycle effortlessly.

In this article, we will cover why manual quotes often fail, what quotation management software is, key features to look for, benefits for your business, and tips to maximize your ROI.

What is Quotation Management Software?

Quotation management software is a tool designed to help businesses create, send and manage quotes to customers efficiently. Unlike traditional templates, modern solutions connect with CPQ systems to provide an all-in-one solution.

By using quotation management software, businesses can remove repetitive manual tasks, reduce pricing mistakes, and provide a more professional experience for clients.

Why Manual Quotes Fail?

Many businesses still rely on manual methods to create and send quotations. They may use spreadsheets, Word documents, or email threads to calculate prices, apply discounts, and communicate with clients. While this approach might seem easy at first, it can lead to several challenges:

Time-Consuming Processes: Creating each quote manually can take hours, especially when you have multiple products or services, or when prices change frequently.

Inconsistent Information: Different employees may provide different pricing, terms, or product details, which can confuse clients.

Missed Opportunities: Manual quotes often take longer to deliver. Potential clients may go to competitors who provide faster responses.

Tracking Challenges: Keeping track of which quotes are approved, pending, or expired can become difficult.

Key Features of Quotation Management Software

Aberdeen Group reports that companies implementing CPQ software experience a 28% shorter sales cycle and generate 49% more proposals per sales representative each month. When selecting quotation management software, certain features can make a big difference in performance and ease of use.

1. Quotation Creation

Easily create detailed quotations without spending too much time on manual work.

This feature allows you to add customer details, products, prices, and terms in a structured way.

The final quotation looks professional and is ready to send immediately.
This helps your team respond to customer requests quickly and keeps the process organized.

2. CPQ (Configure, Price, Quote)

CPQ simplifies the process of setting the right price for every product or service.
You can configure product options, apply the correct pricing rules, and generate quotations instantly.

It helps maintain accuracy and keeps pricing consistent across all quotations.

This feature is especially useful for businesses with multiple product variations or complex pricing structures.

3. Invoice Approval

Every invoice can go through an internal approval process before it is sent to the customer.

This gives your business complete control over what is shared externally.
Approvals can be done by managers, finance teams, or anyone responsible for final checks.

This process helps maintain consistency and keeps financial records accurate.

Also Read: Best Invoicing Software for Businesses

4. Personalize Invoice Templates

The invoices can match your company’s brand identity with customizable templates.

Businesses can add your company logo, adjust fonts, choose colours, and include extra fields.

This makes your documents look more polished and professional.
Consistent branding in quotations and invoices creates a strong impression on customers.

5. Custom Quotation

Create quotations that are fully tailored to the needs of each customer.
Users can include special terms, custom pricing, discounts, or extra details whenever needed.

This feature gives you the flexibility to handle unique customer requests without any difficulty. By this users can create quote and invoice efficiently.

Personalized quotations show attention to detail and support better customer relationships.

6. Flexible Tax Management

Easily handle different tax requirements across products, services, or locations.
You can set multiple tax rates, apply them to specific items, and calculate totals automatically.

This saves time and removes the need for manual tax calculations.

It also keeps your business aligned with changing tax rules and regulations.

7. Multiple Currency Handling

Work with customers across different countries without worrying about currency issues.

This feature allows you to create quotations and invoices in any preferred currency.

Exchange rates can be updated, and final amounts are displayed accurately.
This helps make your business more global and customer friendly.

8. Advanced Reporting

Gain full visibility into all your quotation and invoice activity with detailed reports.
Users can track how many quotations are created, approved, or converted into sales.

Reports can also show performance trends and help you identify opportunities for growth.
This feature supports better decision-making and improves overall business planning.

Benefits of Quotation Management Software for Business

Using quotation management software provides multiple advantages for your business. Here is a detailed look at the key benefits.

1. Faster Responses to Clients

Agility plays a major role in winning new business. When a client asks for a quotation, they are usually comparing multiple vendors at the same time.
With quotation management software, user can create and send detailed quotations in just a few clicks, saving hours of manual work.

The ability to respond quickly keeps the client engaged and shows them that your company values their time.

Fast responses often increase the chance of getting a positive reply because clients are more likely to work with a business that is quick and reliable.

2. Accuracy in Pricing

Incorrect pricing can cause delays, disagreements, and even lost deals.
The quotation management software calculates taxes, discounts, and totals automatically, which removes the need for manual calculation.

When every number is correct, you avoid rework and deliver clear pricing to the customer from the very beginning.

Accurate quotations build trust and make your business look professional, because customers know they are getting fair and transparent pricing.

3. Improved Team Collaboration

Sales, finance, and management teams often need to work together before a quotation is finalized.

Using separate spreadsheets or emails can create confusion and slow down the process.

Quotation management software allows all teams to work on the same platform, which keeps everyone updated with the latest information. Managers can review, approve, or suggest changes without holding up the process.

This creates a smoother workflow, reduces delays, and allows teams to focus on closing deals faster.

4. Better Revenue Forecasting

Every quotation you create is valuable data for your business. Quotation management software keeps a record of quotations, approvals, and conversions, giving managers a clear picture of upcoming sales.

By analyzing this data, businesses can plan production schedules, manage inventory, and allocate resources more effectively.

Better forecasting also allows you to set realistic sales targets and spot potential growth opportunities in advance.

5. Professional Customer Experience

The appearance and clarity of your quotations play a big role in how customers perceive your business.

Well-structured, branded, and easy-to-read documents make your company look organized and trustworthy.

When a business’s receives a professional-looking billing, it creates a positive impression and makes it easier for them to understand the offer. This professional experience often leads to faster approvals and stronger business relationships.

6. Centralized Record Keeping

Having all your quotations and invoices stored in one secure place is a huge time-saver. Instead of searching through multiple folders, emails, or spreadsheets, you can retrieve any document within seconds.

Centralized records also make it easier to track past deals, follow up with customers, and review historical data.
This organized approach supports compliance requirements and makes audits and reporting much less stressful for your team.

7. Flexible Customization Options

Every customer and every deal is different, and this software allows you to adjust easily.
Users can customize templates, modify fields, add special terms, or apply unique discounts all without having to create a quotation from scratch.

This flexibility helps you present tailored offers for each client, which improves the chance of closing deals.

It also saves time for your sales team and keeps your documents consistent with your company’s branding and policies.

8. Reduced Workload for Teams

Manual quotation preparation often takes valuable time and effort, especially when handling complex pricing structures or multiple products.

With tools that offer powerful features like automated subscription billing, accurate tax calculations, real-time currency conversions, and polished document formatting, repetitive work becomes quick and easy.

Your team can now dedicate their time to high-value activities building strong customer relationships, nurturing prospects, and turning opportunities into successful deals.

Best Practices to Implement While Creating Quotations

Creating quotations is an important step in winning new clients and growing your business. Following the right practices ensures your clients understand your offer and are more likely to approve it. Here are best practices to consider.

1. Clearly Mention Product or Service Details

Always include the complete name, description, and specifications of the product or service.

Including precise details reduces questions from clients and creates trust.

It also makes it easier for your team to follow up and provide additional support if needed.

2. Include Accurate Pricing and Discounts

Each product or service should have a clearly listed price. If there are any discounts, special offers, or bundled pricing, they should be highlighted separately.

Accurate pricing helps clients understand the value of your offer and prevents misunderstandings.

It supports proper accounting by making it easier to track revenue, apply taxes, and record transactions correctly.

3. Set Clear Terms and Conditions

Include all essential terms, such as payment schedules, delivery timelines, and the validity period of the quotation.

Clearly stated terms help clients know what to expect and avoid disputes later.
It also protects your business by making the agreement transparent from the start.

Clients appreciate knowing all details upfront, which improves trust and strengthens your relationship.

4. Use Professional and Branded Templates

A quotation is more than a document; it reflects your brand.
Use templates that include your company logo, consistent fonts, and brand colours.

Well-designed quotations appear professional and polished, leaving a strong impression on clients.

Branded templates also make your team’s work faster, as the structure and format are already set.

5. Add Taxes and Other Charges Clearly

Clearly mention all applicable taxes, shipping costs, and any additional charges.
Clients prefer seeing the full amount upfront rather than discovering hidden costs later.

This transparency builds trust and reduces unnecessary questions or disagreements.

Including all charges from the beginning also helps your team maintain accurate records for reporting and accounting.

6. Personalize Quotations for Each Client

Every client has different requirements and expectations. Customizing your quotation to match their needs such as including special terms, personalized pricing, or unique discounts how’s that you care about their business.

Personalized subscription billing make clients feel valued and increase the likelihood of approval.

This practice also strengthens your relationship with clients and encourages repeat business.

7. Review and Approve Before Sending

Before sending a quotation, double-check all the details, including product names, pricing, taxes, and terms.

Use an approval workflow if multiple team members are involved to confirm accuracy. A final review ensures that the quotation is complete, professional, and ready to impress the client.

This step reduces the chances of mistakes and keeps your business reputation strong.

Using these best practices along with quotation management software allows your business to deliver professional, accurate, and client-friendly quotations.
It helps your team save time, improves client satisfaction, and increases the likelihood of turning quotations into successful sales.

Choosing the Best Quotation Management Software

Picking the right quotation management software depends on your business model and requirements:

Understand Your Business Model: Know if you sell products, services, subscriptions, or a combination. The software must support your offerings.

Integration Options: Ensure compatibility with billing, subscription, a.

User-Friendliness: Your team should be able to adopt the tool with minimal training.

Scalability: The software should grow with your business and handle more clients, products, or team members.

Support & Updates: Reliable vendor support and regular updates ensure smooth operation.

How Revenue 365 Helps Quotation Handling?

Revenue 365 is designed to simplify quotation management while providing a secure and user-friendly experience. Built on the Microsoft environment, it offers robust security features that protect sensitive business data. The system integrates seamlessly within MS 365 apps like SharePoint, Microsoft Teams, Outlook, and Power BI, creating a connected environment where information flows easily between tools.

With automation at its core, Revenue 365 reduces manual work and speeds up the quotation process. It enables your team to send customized quotations with agility, adjusting pricing, terms, and templates to suit each client’s needs.

Conclusion

Quotation management software is essential for businesses aiming to grow and manage sales efficiently. Choosing the right solution, focusing on key features, and integrating it with your current systems allows your business to see measurable improvements in revenue and deal closures.

Get started with Revenue 365 today and experience faster, smarter, and more accurate quotation management.