10 Must-Have Quote Management Features for MSPs

Not all quote management software is designed with managed services providers (MSPs) in mind.

Quote management software features

If you’re in the market for a quote management tool, it won’t take long to see that there are many options, but not all quote management software is designed with managed services providers (MSPs) in mind.

Here are the top 10 quote management software features MSPs should look for:

1SaaS model

Paying for a quote management tool on a Software as a Service basis is not easier on your budget, but it also ensures you are running the most recent version of the software – without any maintenance required. Up-to-date software means you have the latest features and can take advantage of new integrations. 

2Business application integrations

A quote management tool can save time and effort as a standalone solution, but the value it provides your organization will multiply when you integrate it with other software:

  • Business applications: Quote management software can work with professional services automation (PSA), so you can open tickets for quotes, assign them to employees, and track the time spent on the quoting process. Quote management software can also integrate with customer relationship management (CRM) solutions to access information on previous quotes, communications or purchases and to auto-populate contact information.
  • Accounting software: You can also integrate quote management software with accounting systems, eliminating manual data entry and automatically categorizing sales.

3Distributor integration

Distributor integration is the quote management software feature that may have the most significant impact on the amount of time you can save. A quote management tool that integrates with your distributors eliminates the need to check them individually for product pricing, availability, and warehouse location. Unfortunately, you may forfeit this feature if you choose quote management software not designed explicitly for MSPs – and it’s too significant of a benefit to overlook.

4Shipping cost calculations

Some quote management software solutions allow you to calculate shipping costs by defining shipping zones and determining the price by the item’s weight, integrating with carriers that provide shipping costs or enabling you to establish flat fees for shipping.

5Quote templates

Templates give you the ability to standardize quotes from your MSP. You can configure templates in the software to reflect your company and your brand, and you’ll also be able to define required fields and, in some cases, manager approval before quotes go out. 

6Recurring services quotes

Successful MSPs are quoting ongoing services to build recurring revenue streams, but quotes for this offer differ from selling hardware or a one-time software license. Make sure the solution you choose allows you to quote recurring services.

7Sales process support

Quote management software features that will benefit your sales team include automatic price calculations, automatic upselling suggestions, online quote delivery, and reminders that tell a sales rep it’s time to follow up. 

8Customer activity tracking

You may also gain the ability to see when a customer has viewed or signed a quote, so your team can immediately respond. 

9Reporting

One of the benefits of upgrading to quote management software from manual processes is data collection and reports. With just a few clicks, you can review metrics such as outstanding quotes, sales conversions, clients with the largest quotes, or sales per product, vendor, or service. Make sure the solution allows you to access the data you need in an actionable format quickly and easily. 

10User Experience

Before you decide, demo the quote management tools you are considering. If available, arrange a trial to see how it would work in your MSP’s operation. The software should be easy to use – it’s not worth the investment if your team resorts to workarounds because the software doesn’t let them do their jobs quickly and efficiently.

Don’t settle for less than a solution with the right features and excellent UX for your MSP.

Mike Monocello

The former owner of a software development company and having more than a decade of experience writing for B2B IT solution providers, Mike is co-founder of Managed Services Journal (formerly XaaS Journal) and DevPro Journal.