Buyer-side sourcing — for teams issuing RFQs, not responding to them
RFQ software for procurement teams
An RFQ (request for quotation) is how a buying organization asks suppliers to submit pricing for a defined scope of goods or services. Krayuv's RFQ tools are built for the buyer's side of that process — creating and sending RFQs, collecting responses, and comparing quotes — not for suppliers responding to quote requests from other companies.
One RFQ, matched to how you need to evaluate
What an RFQ is, and where it fits in sourcing
An RFQ is typically used when a buyer already knows the specification of what they need and wants comparable pricing from a set of suppliers — as distinct from an RFP (request for proposal), used when the buyer needs suppliers to propose an approach as well as a price, or an RFI (request for information), used earlier to understand what's available in the market before a formal sourcing event. See the RFQ vs. RFP vs. RFI guide for the full distinction.
An RFQ often feeds directly into a reverse auction once suppliers are qualified and an initial round of quotes has narrowed the field.
Three RFQ workflows, matched to how you need to evaluate
Not every buy should be decided on price alone, and not every buy needs a full technical evaluation either. Krayuv offers three workflow types so the process matches the decision.
Commercial-only
For well-specified, price-driven buys: suppliers submit pricing directly, no separate technical evaluation stage.
Two-Envelope
Technical and commercial responses are submitted as sealed, separate envelopes. The technical envelope is scored first — only bids that clear the qualification gate have their commercial envelope unlocked.
Combined
Technical and commercial criteria are scored together into a single weighted best-value outcome, for buys where price alone shouldn't decide the award.
The RFQ lifecycle
Create the RFQ
The buying team defines what's needed, picks a workflow (Commercial-only, Two-Envelope, or Combined), and sets the evaluation criteria.
Invite suppliers
The RFQ goes to a defined supplier list, who can accept, decline, or request a deadline extension before submitting.
Sealed quotations
Supplier responses are submitted sealed. On a Two-Envelope RFQ, the buyer unlocks the commercial envelope only after technical scoring is complete.
Technical scoring
Where a technical stage applies, responses are scored against pass/fail qualification gates before commercial comparison begins.
Compare & score
Quotes are compared side by side with weighted best-value scoring — not price alone — to produce an award recommendation.
Award & contract
The buying team accepts the recommendation (or overrides it with reason recorded), and the award generates a purchase order or contract through an e-sign-style workflow.
Suppliers can accept, decline, or request a deadline extension on an RFQ before it closes; the buying team can also close an RFQ early ("prepone") with approval, if all responses are already in.
Comparable quotes, not a pile of PDFs
Once supplier responses come in, they're compared side by side on price, delivery, and score — not just whoever quoted lowest. The award reflects weighted best-value, with the comparison itself kept on record.
Illustrative — weighted best-value, not price alone
How this fits into Krayuv
RFQs sit inside the sourcing stage of Krayuv's Source-to-Pay platform, alongside reverse auctions and supplier management. An RFQ can feed directly into an auction once suppliers are qualified and a first round of quotes has narrowed the field, and an award generates a purchase order or contract in Procure-to-Pay without re-entry. See the procurement software overview for how it all connects.
RFQ vs. RFP vs. RFI
| RFQ | RFP / RFI | |
|---|---|---|
| Used when | The specification is already defined and price is the main variable | The buyer needs suppliers to propose an approach (RFP) or is still exploring what's available (RFI) |
| Primary output | Comparable price quotes | Proposals or market information, not just price |
| Typical stage | Later in sourcing, once needs are well-defined | Earlier (RFI) or for complex purchases (RFP) |
Frequently asked questions
What is RFQ management software?
RFQ management software is a system for creating requests for quotation, inviting suppliers, collecting sealed responses, and comparing them side by side — replacing email threads and spreadsheets with one auditable record. Krayuv's RFQ management supports Commercial-only, Two-Envelope, and Combined workflows with weighted best-value scoring.
What is request for quotation software?
Request for quotation software is a tool for building an RFQ, sending it to a chosen list of suppliers, receiving their quotes in a consistent format, and comparing them. Krayuv's version adds sealed quotations, technical scoring, and weighted best-value comparison, and carries the award through to a purchase order or contract.
What is e-sourcing software, and is Krayuv one?
E-sourcing software runs the sourcing stage of procurement electronically: finding and inviting suppliers, running RFQs, and holding competitive bidding events. Krayuv covers e-sourcing with three RFQ workflows and five auction formats, connected to vendor management and purchasing in the same system.
What is supplier sourcing software?
Supplier sourcing software helps a buying team identify, invite, and evaluate suppliers for a requirement. In Krayuv, qualified suppliers come from the vendor records and self-application portal, are invited to an RFQ or auction, and their responses are compared side by side.
What is online quotation management software?
Online quotation management software collects supplier quotes through a web portal rather than by email attachment, keeping every response, revision, and deadline in one record. Krayuv suppliers accept, decline, or request an extension and submit sealed quotations online, so the buyer compares like with like.
What is strategic sourcing software?
Strategic sourcing software supports the planned, repeatable side of sourcing: structured RFQs, competitive bidding, weighted evaluation beyond price, and a record of why an award was made. Krayuv's weighted best-value scoring and award recommendations are built for exactly that kind of decision.
What does RFQ mean in procurement?
RFQ stands for request for quotation — a document a buying organization sends to suppliers asking them to submit pricing for a defined scope of goods or services.
What is the difference between RFQ, RFP, and RFI?
An RFI (request for information) is used early to understand what suppliers can offer. An RFP (request for proposal) asks suppliers to propose an approach as well as a price, for more complex purchases. An RFQ (request for quotation) is used once the specification is defined and the buyer mainly needs comparable pricing.
How is an RFQ different from a purchase order?
An RFQ is a request for pricing information before a decision is made. A purchase order is the formal commitment to buy, issued after a supplier has been selected — often based on the quotes collected through an RFQ.
Is Krayuv's RFQ software for suppliers responding to quote requests?
No. Krayuv's RFQ tools are built for the buyer's side — organizations creating and sending RFQs to their suppliers and comparing the responses — not for suppliers managing quote requests from their own customers.
What is a Two-Envelope RFQ?
A Two-Envelope RFQ separates technical and commercial responses into sealed envelopes. The technical envelope is scored first against pass/fail qualification gates — only suppliers who clear it have their commercial (pricing) envelope unlocked for comparison.
Can suppliers decline or request more time on an RFQ?
Yes. Suppliers can accept or decline an RFQ invitation, and can request a deadline extension. The buying team can also close an RFQ early if all expected responses are already in, subject to approval.
See how Krayuv handles RFQs end to end
Book a short call and we'll walk through RFQ creation, supplier invitations, and quote comparison — on your own sourcing scenario.