- Lyzr Marketplace
- Sales
- RFQ agent
RFQ agent
Managing Requests for Quotation (RFQs) can be slow, error-prone, and resource-intensive. The RFQ Agent automates the process, streamlines vendor interactions, and ensures accurate, timely responses to accelerate procurement cycles.
- Procurement Managers
- Supply Chain Directors
- Vendor Management Leads
Trusted by leaders: Real-world AI impact.
The problems we hear from leaders like you
RFQs are critical to sourcing and procurement, but manual handling and fragmented processes often slow down response times, increase errors, and hinder supplier relationships.
Lengthy manual processing
Teams spend excessive time preparing, sending, and tracking RFQs, delaying sourcing decisions and impacting project timelines.
Errors and inconsistencies
Manual handling of RFQs increases the risk of missing details, miscommunication with vendors, and inconsistent formatting across submissions.
Limited vendor insights
Without automated tracking and analytics, procurement teams struggle to compare vendor responses, evaluate pricing, and identify optimal suppliers.
Resource-intensive follow-ups
Managing clarifications, reminders, and responses from multiple vendors consumes significant time, taking focus away from strategic sourcing.
Agent workflow for regulatory monitoring
Quantifiable value for your institution
Automating RFQ processes drives measurable efficiency, accuracy, and strategic insight in procurement operations.
- 60%
faster RFQ cycle times, accelerating vendor selection and procurement decisions
- 50%
reduction in errors and inconsistencies, ensuring accurate submissions and evaluations
- 40%
improved vendor engagement, through timely communication and structured follow-ups
- 35%
more informed sourcing decisions, leveraging consolidated analytics and insights
Outcomes you can expect
The RFQ Agent streamlines procurement workflows, increases accuracy, and provides actionable insights for better supplier management.
Accelerated RFQ cycles
Automate the creation, sending, and tracking of RFQs, reducing delays in the sourcing process.
Consistent and accurate submissions
Ensure every RFQ is complete, correctly formatted, and adheres to procurement standards.
Better vendor evaluation
Compare responses efficiently with structured analytics, highlighting pricing, terms, and performance metrics.
Reduced administrative burden
Minimize repetitive follow-ups, reminders, and clarifications, freeing procurement teams for strategic sourcing activities.
How to start building from here
The journey from a promising pilot to a deployed solution can be a challenge. We are your partner in implementation, sharing the risk and ensuring your AI agents make it to production. We don't just provide a platform; we provide a clear pathway to success.
Dedicated AI expertise
We invest in a Forward Deployment AI Engineer (FDE) to work directly with you. Our FDE acts as a hands-on AI startup CTO for your project.
A partner in risk management
We take on the risk of ensuring your agent goes from concept to a fully functional, production-ready solution. We'll work with you every step of the way to get you live.
Strategic guidance & workshops
Our dedicated team will provide strategic guidance and training sessions, empowering your internal teams to own and scale your AI capabilities once your first use case is live.
Project management oversight
We assign a project manager to oversee your agent's journey, providing a clear roadmap and ensuring a smooth, frictionless path to production.
Agents used for this use case.
The Regulatory Monitoring Agent is often built on a combination of specialized agents. Here are some you can use to enhance this use case on the Lyzr platform:
- KYC Processing Agent
- Fraud Detection Agent
- AML Agent
- Legal Document Drafting Agent
- Compliance Agent
Frequently asked questions
The RFQ agent automates the end-to-end RFQ process — from creation to sending, tracking, and consolidating vendor responses — improving accuracy, speed, and visibility.
By automating repetitive steps like drafting RFQs, sending reminders, and consolidating responses, the agent accelerates decision-making and shortens procurement timelines.
Yes. It can distribute RFQs to multiple vendors simultaneously, track responses in real time, and provide consolidated dashboards for comparison.
The agent ensures all required fields, terms, and specifications are included, and prevents formatting errors or missing information that often occur in manual RFQ handling.
Absolutely. It organizes vendor responses, pricing, and terms into actionable insights, making it easier to select the best supplier and negotiate effectively.
Yes. Automated reminders and clarification requests ensure vendors respond on time, reducing the need for manual follow-ups.
Yes. It can handle multi-line items, detailed specifications, and complex procurement requirements while maintaining accuracy and consistency.
Yes. It connects with ERP and sourcing platforms, ensuring seamless data flow and avoiding duplication of effort.
Yes. The agent supports multi-currency RFQs, timezone-aware scheduling, and regional compliance requirements for global sourcing.
All information is processed following enterprise-grade security standards, protecting sensitive supplier and procurement data.
Organizations typically see faster procurement cycles, fewer errors, improved vendor engagement, and more strategic sourcing decisions — all contributing to cost savings and operational efficiency.
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