Vendor Quotes are bids or pricing for a specific job from your Vendors (subcontractors and material suppliers). In RedTeam Flex, you begin the process of collecting and managing Quotes by first issuing a Request for Quote (RFQ), an official invitation to bid on materials and/or services for a job.
The official offer or bid in response to the RFQ is a Vendor Quote. RedTeam Flex allows you to upload and associate the Vendor Quotes to the existing RFQ. You may also add a Vendor Quote directly, without an existing RFQ, called an Unsolicited Quote.
By managing the entire process of requesting and collecting RFQs in RedTeam Flex, you effectively manage your entire bidders list for estimating from one place.
1. Upload a Vendor Quote (convert RFQ to Quote)
Vendor Quotes are official pricing estimates from a professional subcontractor who has evaluated and estimated the cost to deliver a good or perform a service. In RedTeam Flex, Vendor Quotes are uploaded after a Request for Quote (RFQ) has been generated, issued and returned to you (or if no RFQ was issued, they are uploaded as an Unsolicited Quote).
If the Vendor submits a Quote through the RFQ sent from RedTeam Flex, you will be automatically notified via email and the Quote will already be in RedTeam Flex. If the Vendor does not submit a Quote through the RFQ and instead submits through some other medium, such as fax, email, or phone call, you can convert the RFQ to a Quote and upload the Quote information manually.
Steps:
From the Project's Home menu, click "Vendor Quotes"
Locate the Committed RFQ in the list of Quotes (Committed RFQ will appear blue)
Click the tools icon
Click "Convert to Quote"
In the "Quote Information" section, enter the Quote info, such as cost code, bid amount, and any notes
(Optional) In the "Attachment" section, upload an electronic or scanned version of the Vendor's Quote or proposal
In the "Items included in this Quote" section, select which Items (from cost code Assemblies in the Estimate) the Vendor has included in their Quote
To include Items from other cost code Assemblies with this Vendor's Quote, click "Show Others"
Click "Save"
2. Review and Accept or Reject a Quote Submitted by a Vendor
In RedTeam Flex, Vendors have the option to upload their Quote directly from the link to RFQ sent from RedTeam.
Only contacts added to the "To:" section of the email for the RFQ will be able to submit a Quote for review. Once the Quote has been submitted, RedTeam Flex will automatically notify the sender that a Quote has been received and is pending review.
This wiki will outline the process of Vendor's uploading their own Quotes to give users an idea of the process from their perspective.
Steps:
From the Project's Home menu, click Vendor Quotes
Locate the Quote submitted by the Vendor (look for the asterisk next to the word "Quote" in the Type column)
To open and view the Quote uploaded by the Vendor, click the File icon
Once you have opened and reviewed the Quote, you can Accept or Reject it
To Accept or Reject, click the tools icon
Hover over "Revise Quote"
Click "Accept" or "Reject" then click the Save icon
Click the tools icon and hover over "Revise Quote"
Select "Accept" or "Reject" and click the Save icon
If Rejecting the Quote so that the Vendor can revise, you can add a note to be sent to the Vendor
Rejecting the Quote will send a notification to the Vendor that their Quote has been rejected, at which point they will be able to re-submit
3. Add an Unsolicited Vendor Quote
Vendor Quotes are bids for a Project you receive from Vendors. You can issue Requests for Quote to Vendors who then have the opportunity to submit their Quotes through these RFQs. Alternately, you can upload bids manually by converting the RFQ to a Quote.
In some cases, however, you may receive Quotes from Vendors that you did not initially solicit through RedTeam Flex via an RFQ (for example if you gave a Vendor access to the Planroom but never sent a formal RFQ). In these cases you can simply upload the Unsolicited Quote to RedTeam Flex for tracking and organization purposes.
Steps:
From the Project's Home menu, click "Vendor Quotes"
OR, from the Estimate tab or the Buyout tab, click the Manage Icon and select "Vendor Quotes
Click the Add icon (+)
Select "Unsolicited Quotes"
Enter the Quote info, such Vendor, cost code, category, bid amount, etc.
(Optional) In the "Attachment" section, upload an electronic or scanned version of the Vendor's Quote or proposal
In the "Items included in this Quote" section, select which Items (from cost code Assemblies in the Estimate) the Vendor has included in their Quote
Click "Save"
4. Edit a Quote
Vendor Quotes are bids for a specific job from Vendors. As long as a Quote is in Draft status and has not been committed, the Vendor, Vendor Contact, Requester, Assembly, Category, and Instructions may be edited. Once a Quote has been committed, however, the only changes that can be made are to the date, associated assemblies, and bid amount.
Steps:
From the Project Home Menu, select "Vendor Quotes"
OR, from the Estimate OR Buyout tab, click the Manage icon and select "Vendor Quotes"
Locate the Vendor Quote in the list
Click the tools icon
Click "Edit"
Edit the Quote
Click "Save"
5. Compare Vendor Quotes
One aspect of managing your RFQs and returned Quotes is to compare several different Quotes to choose who will be the selected Vendor for the project.
In RedTeam Flex, you can compare Quotes side-by-side for each cost code Assembly. In the Compare Quotes screen, you can select or deselect items to be included in a Vendor's Quote, modify and manage items from your cost code Assemblies, view the electronic Quotes received from the Vendors, and select a Vendor's Quote as Best.
The "Items Included in Assembly" are pulled directly from the Items that were created in each cost code Assembly in the Estimate. To add, remove, or modify these items, you can navigate to the Estimate and open the Assembly, or you can click the "Open this Assembly" button from the Compare Quotes screen (note that the estimate can only be altered in the Request stage of a project).
Steps:
From the Project's Home menu, click "Vendor Quotes"
OR, from the Estimate OR Buyout tab, click the Manage icon and select "Vendor Quotes"
Click the More icon and hover the mouse over "Compare" to display the cost codes available to be compared
Select a cost code from the dropdown
Compare the Quotes side-by-side
6. Select a "Best" Quote
Vendor Quotes are bids or pricing proposals from Vendors. These Quotes are collected by first issuing a Request for Quote (RFQ), then uploading the returned Quotes from Vendors (subcontractors, material suppliers, etc.).
In RedTeam Flex, you can compare Quotes side-by-side for each cost code in your Estimate, then select the Quote from the Vendor you intend to use as "Best" to insert their Quote amount into your Estimate.
Quotes may only be selected as "Best" while the Project or Potential Change is in Request status. For assistance promoting/demoting to Request status, please contact your System Administrator or contact RedTeam Support via Chat.
Steps:
From the Project's Home menu, select "Vendor Quotes"
Click the More icon
Hover over "Compare" to show the available cost codes and click the one you want
Alternatively, you can click the star next to any Quote to open the Compare screen for that cost code
Use the checkboxes for the Assembly items to select the ones included in the scope of the Vendor's Quote
To open an electronic copy of the Vendor's original Quote, click the file icon. If no icon appears, no file has been uploaded for that Quote
Click "Select as Best" to choose the Best Quote and insert the amount into the Estimate
Click "Unselect" to remove the Vendor's Quote amount from your Estimate and select a different Quote as Best. If you do not have the option to Unselect, please contact your System Administrator for assistance.
7. Cancel a Vendor Quote
RedTeam Flex assists your business in keeping a virtual paper trail by allowing every record and document to be part of the "story" of your project. Because of this, there are very few things in RedTeam you can permanently delete. Instead, the system offers the option to "cancel" most records, consequently removing it from the list or view, while still maintaining the history and overall picture of what was created, when, and by whom.
You may want to cancel a Vendor Quote when a Vendor has rescinded a Quote, the record was entered incorrectly, or you simply no longer wish to see the record in your list. If for some reason a Quote was created unintentionally and you wish to remove it, the recommendation is to leave the newly created Quote in Draft status until you actually need it. The RFQ record is always available by clicking the tools icon next to the Quote and selecting "View RFQ."
When you want to cancel more than one Quote at a time, you have the option to "Mass Cancel" Vendor Quotes. Click the checkboxes to select the Quotes you want to cancel, then use the Cancel tool in the tab menu.
Steps:
Click the tools icon next to the Quote (to Cancel a "Best" Quote, first unselect as Best)
Hover the mouse over "Change Status" and select "Cancel"
To Cancel multiple Quotes at one time, use the checkboxes to the left of each quote to select them, then click "Cancel"