‘Quote Status’ and ‘Bid Status’ Definitions for Bid Track Sell

One of the key features of Bid Track Sell is that it allows you to access the real-time status of quotes you bid. To ensure accuracy, it's important to understand how to interpret the ‘Quote Status’ and ‘Bid Status’ dropdowns. The definitions below will help you determine which status to use and when to use them, to ensure you have the most current project information at your fingertips.

 

 

QUOTE status
Refers to the ‘larger’ picture and speaks to the individual status of each of the quotes you bid to your customers.    

BID status
Drills down to whom you bid the quote (subcontractors, installers, etc.), whether you won or lost the Scope of Work, and the status of each customer bidding on the Scope of Work.  

 
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Quote Status:

  • Design – A Scope of Work that is being defined and designed and is not yet ready for a quote.

  • Budget – There is not enough information to provide a quote, as the project is in the budgeting phase. Typically, budgets consist of square foot pricing or cost per unit of measure.

  • Rebidding – You are sending out a successor or revised quote to the previously issued quote. The original quote remains in the Quote Status until an award has been made, and then is updated as needed.

  • Quoted – A quote has been issued to a bidder(s).

  • Negotiation/Review – A sub or GC has been awarded the Scope of Work in which a quote was issued.  You are negotiating and reviewing the Scope of Work in order to be awarded.

  • Awaiting Award – You have a verbal or LOI and are awaiting an official PO.

  • Awarded – A PO or signed quote is in hand.

  • Lost – Not awarded the product Scope of Work for the project.

  • On Hold – The project/Scope of Work was put on hold.

  • Canceled – The project/Scope of Work was awarded to you and then canceled for ANY reason (other than “No Build”).

  • Value Engineered – The Scope of Work was redesigned and/or deleted from the project.  The project, as a whole, is still moving forward.

  • No Build  - The entire project did not move forward.

  • Awarded to Other – The customer awarded the Scope of Work, on which you bid, to your competitor.

Bid Status:

Update Bid Status as the sale progresses. Once your Bid Status is updated, you then update the Quote Status through the final result.

  • Design – You are working on the design/material/product selection with the customer /bidder /installer /subcontractor protocol.

  • Budget – There is not enough information to provide a quote, as the project is in the budgeting phase.  Typically, budgets consist of square foot pricing or cost per unit of measure.

  • Rebidding – If the quote status is “Rebidding” then all of the Bid Statuses associated with that quote number should be marked “Rebidding”.

  • Quoted -  A quote was issued to a bidder(s).

  • Negotiation/Review – A sub or GC was awarded the Scope of Work for which a quote was issued. You are negotiating and reviewing your Scope of Work in order to be awarded.

  • Awaiting Award – You have a verbal or LOI and are awaiting an official PO.  If Quote Status is “Awaiting Award”, then the Bid Status is also  “Awaiting Award”.

  • Awarded – You have a PO or signed quote in hand.

  • Lost – The GC or Sub did not win the project. *Notice how this differs from the Quote Status, “Lost”.  The quote status “Lost” means the entire project was lost while the Bid Status “Lost” means the customer/ bidder/ installer/ subcontractor lost the Scope of Work.

  • Awarded to Other – The customer awarded the Scope of Work, on which you bid, to your competitor.

  • No Bid – There is a bidder that requested a bid but you are not going to bid them.

  • On Hold – The project/Scope of Work is on hold. If the quote status is “On Hold”, then the Bid Status should show the same. All bidders should be updated to “On Hold”.

  • Canceled – See Quote Status “Canceled” and follow the same protocol. All other bidders are designated “Lost” since they did not win the Scope of Work.

  • Value Engineered – The Scope of Work was redesigned and/or deleted from the project.  The project, as a whole, is still moving forward.

  • No Build - The entire project did not move forward.

Ready to try Bid Track Sell for yourself?

Kyle Domer