Abstract of Quotations: Compare Supplier Quotes Online
Already have price quotations from more than one supplier for the same purchase? Add each one and CostRift lines them up item by item — the lowest complying price, ties, and any supplier that didn't quote an item. CostRift doesn't send requests for quotation or collect quotations — it compares the quotations you already have.
What is an Abstract of Quotations?
An Abstract of Quotations is a document prepared after the deadline for submitting quotations, listing the suppliers who responded to a request for quotation and the price each one quoted. It's part of Philippine government procurement practice — most recently under the Small Value Procurement mode of Republic Act No. 12009 (the New Government Procurement Act), which revised the earlier RA 9184.
CostRift builds the same kind of item-by-item comparison from the files you already have — it doesn't certify or approve the result for any specific agency's requirements; see what CostRift doesn't do.
Why procurement teams use it
Once quotations come in from several suppliers, a procuring entity needs a clear, consistent record of who quoted what, so the lowest complying price per item is easy to identify and document — rather than relying on separate quotation sheets or emails that are awkward to compare side by side.
Common fields
- Name of the supplier/vendor who responded
- Item description, quantity, and unit
- Each supplier's quoted unit price
- The lowest-priced, complying quotation per item
- Date and reference number of the request for quotation it relates to
How supplier prices are compared
For each item, every supplier's quoted price is lined up side by side and the lowest usable price is identified. A supplier that didn't quote a particular item is left out of that item's comparison rather than assumed to be zero or excluded entirely from the record.
A simple example
Fictional example — three suppliers (A, B, C) quoting on the same office-supply items. Supplier B didn't quote the third item.
| Item | Qty | Unit | Supplier A | Supplier B | Supplier C | Lowest |
|---|---|---|---|---|---|---|
| Bond Paper, Substance 20, A4 | 100 | Ream | ₱185 | ₱178 | ₱190 | ₱178 (Supplier B) |
| Ballpoint Pen, Black | 200 | Box | ₱95 | ₱95 | ₱102 | ₱95 (Tied A/B) |
| Folder, Expanding, Legal | 300 | Piece | ₱12 | — | ₱13 | ₱12 (Supplier A) |
Spreadsheet and manual comparison
For a short item list and a handful of suppliers, a spreadsheet with a lookup formula works fine — see comparing supplier quotes for the general method. It gets harder to maintain once the item list grows, more suppliers need comparing at once, or the same comparison has to be rebuilt for every new round of quotations.
How CostRift can help
CostRift's Supplier Comparison does the same matching and comparison automatically, at any item-list size. Add a quotation file per supplier — CSV or XLSX, columns mapped independently so names don't need to match — and CostRift matches items by code, flags the lowest usable price per item, and marks ties, single-offer items, and currency or unit mismatches for you to review, rather than guessing. Files are read and compared in your browser and are not sent to CostRift servers to run the comparison.
What CostRift doesn't do
CostRift compares the quotation files you provide. It does not:
- Send requests for quotation or invite suppliers
- Collect quotations from suppliers on your behalf
- Read PDF, scanned, emailed, or photographed quotations
- Integrate with a government procurement system or an ERP
- Generate or certify a government-compliant procurement document
- Create purchase orders
- Score suppliers on quality, lead time, or certification
- Convert currencies or units of measure automatically
Frequently asked questions
Does CostRift send requests for quotation to suppliers?
No. CostRift does not send RFQs, invite suppliers, or collect quotations on your behalf. You bring the quotations already submitted or received, in CSV or XLSX, and CostRift compares them.
Does using CostRift make my Abstract of Quotations compliant with government procurement rules?
CostRift is not a government procurement system and doesn't certify, approve, or guarantee that its output satisfies any specific agency's procurement, audit, or filing requirement. Abstract of Quotations is a recognized document convention in Philippine government procurement — check your own agency's current rules and required format separately.
How does CostRift decide the lowest price per item?
For each item, CostRift compares the unit price quoted by every supplier with a usable price for it and marks the lowest as the winner. If two or more suppliers quote the exact same lowest price, the item is marked tied rather than assigning a winner arbitrarily.
Does CostRift read PDF or scanned quotations?
No. CostRift compares structured CSV or XLSX files only. A quotation that arrived as a PDF, email, or photo needs to be entered into a spreadsheet first.
Do I need an account to compare quotations?
No. Comparing quotations needs no account. If you sign in, you can save a supplier's quotation to history and reuse it in a later comparison.
Are my files uploaded anywhere?
No. Your CSV and XLSX files are read and compared in your browser. They are not sent to CostRift servers to run the comparison.
Want to try it on a couple of quotations first, with no signup? Use the free supplier quote comparison tool.
Ready to compare your quotations?
Add each supplier's quotation and see the lowest complying price per item in one comparison.