Using Quote Management
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Summary of Using Quote Management
The Quote Management application in ServiceNow enables sales agents to efficiently create, manage, and convert product quotes throughout the sales process. It provides a structured interface with multiple tabs to capture all relevant quote information, including customer details, product catalogs, pricing adjustments, tasks, and approvals. This solution supports advanced workflows such as quote revisions, approvals, and conversions to customer orders, enhancing sales productivity and accuracy.
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Key Features
- Tabbed Interface:
- Details: Add quote address and contact info.
- Catalog: Select products from catalogs.
- Line Items: Manage products and services in the quote.
- Tasks: Track approval and fulfillment activities.
- Revisions: Create and manage multiple quote versions.
- Customer Orders: Convert quotes into sales orders.
- Involved Parties & Contacts: Add additional stakeholders and relevant contacts.
- Pricing Adjustment: Apply manual pricing changes or discounts at line item or quote level.
- Quote Creation and Management: Start quotes, add products from catalogs, and modify line items and pricing adjustments.
- Quote AI Agent: Automate quote creation, modification, and review using agentic workflows triggered by defined conditions.
- Product Offering Recommendations: Upsell or cross-sell related products based on current quote content.
- Quote Versions and Summarization: Manage multiple versions and generate consolidated quote summaries to streamline internal reviews and customer communications.
- Approval Workflow: Submit quotes for advanced approval, review requests, approve or reject quotes, and recall approval requests as needed.
- Pricing Flexibility: Add subscription pricing, price ramps for recurring offerings, and header discounts that apply across quote line items.
- Quote to Order Conversion: Convert entire quotes or selected line items into customer orders seamlessly.
- Contract and Sales Agreement Integration: Initiate contract requests and enable sales agreements to formalize quotes.
- Data Synchronization: Sync quote information with related opportunities to maintain data consistency.
- Location-Based Catalog Filtering: Filter and copy product locations to manage multi-site quoting scenarios.
- PDF Generation and Viewing: Create, view, and manage PDF quote documents for customer sharing and signatures.
- Hierarchical Line Item View: Visualize parent-child relationships among quote line items for complex product structures.
- Quote Consolidation: Merge multiple renewal quotes for the same account into a single unified quote to simplify management.
Key Outcomes
- Streamlined quote creation and management improves sales cycle efficiency and accuracy.
- Automated AI-driven workflows reduce manual effort and increase consistency in quote handling.
- Advanced approval workflows ensure compliance and governance before customer engagement.
- Comprehensive pricing adjustments and subscription options enable flexible and competitive quoting.
- Seamless conversion from quote to order accelerates the sales fulfillment process.
- Enhanced collaboration through involved parties and contact management supports complex sales scenarios.
- Effective communication with customers and internal teams via quote summaries and PDF documents.
- Support for multi-location and hierarchical product quoting addresses enterprise-scale sales requirements.
Use the Quote Management application to build your quote. The interface includes the following tabs to help you create and manage product quotes.
| Quote Management tab | Description |
|---|---|
| Details tab | Add details of the quote, such as address and contact information. |
| Catalog tab | Use product catalogs to add products to your quote. |
| Line Items tab | Add quote line items to a quote. |
| Tasks | Displays tasks associated with the quote (approval or fulfillment tasks) generated as part of the quoting workflow. |
| Revisions tab | Create multiple versions of quotes. |
| Customer Orders tab | Convert quotes to product order sales. |
| Involved Parties | Add individuals or organizations associated with the quote beyond the primary contact, for example, approvers, stakeholders, or additional decision-makers. |
| Contacts | Add contact records linked to the account/quote that are relevant to the deal. |
| Pricing adjustment tab | Add manual pricing adjustments to products in a quote. |
Building quotes
Use these basic steps to create, build, and manage your quotes.
| Step | Description |
|---|---|
| Manage quotes using the Quote AI Agent | Create, modify, and review quotes using agentic workflow. |
| Create a quote | Start a quote, then add and view quote details. |
| Add products to a quote | Build your quote by adding products from the product catalogs. |
| Create a quote PDF document | Sales agents can create a PDF document from a quote to send to customers. |
| View and update products in your quote- | Use the Line items tab to see and update products in your quote. |
| View and update manual pricing adjustments in quotes | Add pricing adjustments to quotes. |
| Get additional product offering recommendations for quotes | Use product offering recommendations to find other products that you can upsell or cross-sell to your customers based on the line items in your quote. |
| Create quote versions | Use the Revisions tab to create and view versions of a quote. |
| Convert quotes into orders | Use the Customer Orders tab to convert quotes to orders. |
Use ServiceNow Otto for CPQ to generate a summary of a quote to:
- Summarize key quote components during early customer discussions or pre‑discovery.
- Provide an updated view of the quote after revisions, without requiring the review of multiple records.
- Provide a single, consolidated snapshot of all actions, tasks, and notes derived from a quote in one place.
- Highlight custom pricing, discounts, and negotiated changes made during the quoting process.
- Review the quote prior to sending it to the customer to confirm accuracy and completeness.
- Support internal handoffs by summarizing the quoted offer for internal teams.