The request for quote process is necessary for businesses that buy and sell highly specialized products. One size fits all is no longer a reality in B2B SaaS sales. As a business entity, you will wear the hat of both the buyer and the seller at one point or another – your business needs to purchase solutions, too.

This means that you will experience sending and receiving RFQs. The most important lesson for both sides of the RFQ and overall procurement process is to be as specific as possible.

On the buying side, making sure the vendor knows exactly what you want is the best way to get an accurate price quote. When it comes to selling, being specific is crucial because once accepted, those price quotes can be used as legally binding documentation for the transaction.