What are the benefits of using quotes? When you have an opportunity, people want to know what choices you have. “Yeah, I'm interested in this,” they might say, “but show it to me, maybe if I buy the extended warranty.” If I do the onsite training, please show it to me. "What choices do I have? Show me a few options.”
Quote is a layer that displays opportunities and opportunities items. By presentation layer, I mean the ability to produce a well-formatted PDF. There's also a template that's similar to a page layout editor that we'll go through in a separate section on how to arrange the details to present back to your client.
The PDF can then be developed. You should bind it to the Quote as an addition. You can email it directly from the Quote to your Contact. It's also serialised. This area is read-only. Any time you make a Quote, it generates a number, similar to how Cases generates a Case Number.
This is especially useful if you're sending out a lot of Quotes and someone says, "Yeah, I'm ready to buy." You should inquire as to whether we are discussing Quote 237 or 238. We've gone back and forth on a couple of different models. You can hold old versions of your Quotes as attachments against the Quote module if you've PDFed them.
A little more abstractly, I'm going to slide over to this side of the board and give you a visual representation of why Quotes could be beneficial to your sales organization. In our organization, our little blue coin icon reflects our opportunity. It's linked to a company.
I've got Quotes one and two from there. One quote has three items, one worth $100,000, one worth $10,000, and one worth $20,000. When you add up all three products, you get a quote for $130,000.
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Quote two only has $100,000 for product one and $10,000 for product two. The cost of this quote is $110,000.
Returning to our choices and options, our client will say, "Yeah, I'm going to buy from you, but show me two different ways." So, Quote one is $130,000, while Quote two is $110,000.
You'll want to sync the Quote at some point. Synchronization is a checkbox on the Quote, and if you check it,... So this one isn't verified, but this one is... The products you've linked to the Quote become the products you've linked to the Opportunity.
They're only going to buy one option, rather than, say, a $240,000 opportunity. They aren't going to purchase both. Only one or the other would be purchased.
So, we need to tell the database what we want to reflect in our pipeline reporting opportunities. Do we want to show them two options – that they can purchase this and that? No, it's not true. Either way, they're going to buy.
So, by checking this box and syncing the Quote to the Opportunity, these are now in sync. If I make a change to, say, product three, it will update my amount here and change product three to an Opportunity product. Any modifications I make here will be reflected elsewhere.
In fact, if I update the products here, they will sync with the Quote and I will be able to change my products here as well. So, I changed the quantity, the number, and added more goods, and everything is still in sync. I don't have to double-enter something. That's what syncing is supposed to help you with – it's supposed to make it easier for you to do a lot of double entry on the numbers.
Okay, that's it. I'm going to return to this side of the board now. Let's take a look at some of the more popular areas.
When you make a Quote, you're creating a database record. You have a Quote Name, which is similar to your Opportunity Name in that it is the free form text. It will be auto-numbered, as we previously discussed.
There is a field for the Expiration Date. It's a date picker. I believe the intention is that this quote can be used on a variety of occasions. You placed a deadline on the table to nudge the customer into making a decision.
We just discussed the syncing checkbox. Between one Quote and your Opportunity, it keeps your goods, quantities, and amounts in sync.
On this, there's a Status picklist. Some people make use of it, although others do not. It includes fields like "draught," "under review," "approve," "presented," and "rejected." It's a piece of land. These can be modified in the picklist.
This is supposed to be a quote lifecycle area, so you can see where it is in the process – it's been presented, it's been accepted by the management, it's been sent to my client – just in case you want to run a report.
This field, like those in standard objects, has a description field. You can simply go to town and write any small novel you want.
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Name of the person to contact. If you have a Contact Role with the primary checkbox checked, this lookup field is automatically filled in when you generate a Quote. This is the Contact object's lookup area.
If you fill in this section, it will drive and pre-populate some of the other fields on the Quote, such as email, phone number, and fax number. It simply goes to the Contact's record in the database, grabs certain fields, and displays them on the Quote record. So you don't have to do the double-entry once more. Exactly the same thing.
When you start a Quote, as long as it's associated with an opportunity that's associated with an Account, and the Account has the Bill To and Ship To address fields filled in, those fields will auto-fill in and auto-populate on the Quote because it's already associated with it.