Abstract: A system and method for electronic quotation collaboration over the Internet. It is integrated with the corporate purchasing computer system and buyers can be automatically and periodically notified of an optimum time to issue a Request For Quotations for specific needed materials. Buyers can then easily post this Request for Quotations on a private, secure corporate Web site that acts as an electronic marketplace where buyers and related vendors can negotiate quotations. Related vendors are automatically notified by e-mail of the Request For Quotations and asked to respond on the Web site. After quotation negotiation, the system can generate a price analysis report using past quotation information. Buyers and managers can then use this report in their decision-making process. Quotations are automatically updated. Related information records in the corporate computer system are automatically updated as well. The entire process is automatically logged and easily tracked.