Quotation Management is the process of creating, tracking, and managing quotes or estimates provided to customers. It involves detailing the products or services offered, their prices, and any terms and conditions. This helps businesses communicate clearly with potential clients and ensures that all parties understand the proposed costs. Effective Quotation Management can streamline sales processes and improve customer satisfaction. By using software tools, companies can automate quote generation, track changes, and analyze pricing strategies. This efficiency not only saves time but also helps in maintaining accurate records for future reference and decision-making.