PhyllisGoldie and Associates
Phyllis Goldie and Associates
Monitoring your Parts Quotes for Opportunity and Fraud
The Parts Quotes system is an excellent means for your team to price and keep track of quotes given to customers before they actually buy.  Once the customer purchases, the quote should be turned into a parts sale ticket and closed when the part is paid for.  Quotes that are not sold should be used as a tool to follow up on the potential sale.  
The Parts Quotes system can also be used as a device for fraud.  Not monitoring your quotes can lead to inaccurate parts inventories and lost dollars due to theft.  We have seen quotes used by parts personnel as a way to sell parts, collect money and never record the sale.  A consistent monthly audit by the controller or office manager should be conducted.  Monitor voided quotes and open quotes greater than three days, review last names for any trends, and spot audit printed quotes.  If something doesn't look right it, probably isn't.  Is there a name that pops up repeatedly that does not look familiar to you?  Are the majority of quotes being printed?  Why?  Involve the parts manager, he/she should be looking at the quotes on a daily or weekly basis.  Review your DMS access levels on the quote application.  Your parts manager should be the only person that can void a quote.  Lastly, set up a default numbering system then check for missing reference numbers just like you would run a missing document report monthly. 
Putting controls in place, and consistent review, will enable the management team to spot trends, eliminate bad practices, and train your associates before they have a negative effect on business.

" The best preparation for tomorrow is doing your best today. "  
- H. Jackson Brown, Jr. 

Phyllis Goldie and Associates, LLC | | 239.826.9544 |
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