What Is an RFI (Request for Information)? Uses & Components

What Is a Request for Information (RFI)?

RFI stands for Request for Information. A Request for Information (RFI) is a preliminary document used in procurement to collect details about a vendor’s products, services, and capabilities before a formal bid is issued. It helps organizations understand what’s available in the market and identify qualified suppliers.

Unlike a Request for Proposal (RFP), which evaluates solutions, or a Request for Quotation (RFQ), which focuses on pricing, an RFI is purely exploratory. Its purpose is to inform decision-making early in the sales cycle and guide whether an RFP or RFQ should follow.

Purpose of an RFI

Organizations issue RFIs to:

• Assess the market landscape and understand what solutions exist.
• Qualify potential vendors before inviting formal bids.
• Gather technical or compliance information when requirements aren’t yet finalized.
• Build a foundation for RFP or RFQ development.

An RFI helps sales, procurement, and solutions consulting teams gain clarity on what’s possible before investing time in detailed proposals.

When to Use a Request for Information

RFIs are most effective at the discovery stage of the buying process — when a business knows it has a problem but isn’t sure what solutions are available. Common use cases include:

• Evaluating new technology vendors or SaaS platforms.
• Exploring potential partners for a complex project.
• Identifying suppliers that meet specific compliance or security requirements.

Learn more about how RFIs transition into formal vendor selection in What Is an RFQ? Meaning, Use & Sample Template.

Key Components of an RFI

A strong RFI should include:

• Company Overview: A brief introduction explaining who you are and your goals.
• Project Context: Background information that gives vendors clarity on your needs.
• Information Requests: Structured questions about capabilities, experience, and technical details.
• Response Guidelines: Instructions for how and when vendors should respond.
• Next Steps: A summary of what will happen after submissions, such as whether an RFP will follow.

Benefits of Using RFIs

• Market Clarity: RFIs provide an early understanding of available solutions.
• Vendor Qualification: They help narrow the field to qualified providers before competitive bidding.
• Risk Reduction: Early evaluation minimizes the likelihood of poor vendor fit later in the process.
• Efficiency: RFIs reduce wasted effort by filtering unqualified suppliers before issuing detailed RFPs.

Best Practices for RFIs

• Ask open-ended questions to gather detailed insights, not just yes/no answers.
• Avoid focusing on price — that comes later with an RFQ.
• Be transparent about goals and evaluation criteria.
• Leverage automation tools like Iris Pro to organize, compare, and analyze RFI responses.

Related reading: Procurement Automation: The Future of Vendor Management

Why RFIs Matter in Modern Procurement

In today’s fast-moving procurement environment, RFIs help teams move from confusion to clarity. They allow buyers to assess capabilities and gather insights before spending time or resources on a full proposal.

For sales and solutions teams, responding to RFIs effectively also builds credibility and positions your company as a trusted expert before a formal bid even begins.

To continue learning, explore RFP Evaluation or RFP Cover Letter for the next steps in the proposal process.

Looking for more RFI guides?

RFI (Request for Information) – FAQ

What is the purpose of an RFI?
An RFI is used to gather preliminary information about potential vendors or solutions early in the procurement process. The purpose is to help the buyer understand the available options and supplier capabilities before moving on to more formal requests like an RFP or RFQ.

How is an RFI different from an RFP or RFQ?
An RFI is an exploratory request – it asks for general information and capabilities, not detailed proposals or pricing. In comparison, an RFP comes later and requests a comprehensive proposal (including how a vendor would solve a specific problem), while an RFQ is focused solely on obtaining price quotes for a well-defined product or service once the details are known.

When should you use an RFI?
Use an RFI at the discovery stage of a project – when you know the problem or need, but you’re not sure what solutions or vendors are available to address it. RFIs are most helpful when you want to survey the market, learn about different approaches or technologies, and shortlist qualified suppliers before investing time in a detailed RFP.

What should be included in an RFI?
An RFI should include a brief overview of your project or business need and a structured set of questions for the vendors. These questions typically ask about the vendor’s capabilities, experience, available solutions, or how they would approach the problem. An RFI may also provide guidelines for responding (such as format or deadline) so that the information you receive is easy to compare.

Does an RFI lead to an RFP or RFQ?
Often, yes. After reviewing RFI responses, a buyer will use the information to refine their requirements or shortlist vendors. If a viable solution or interested vendors are identified, the company’s next step is usually to issue an RFP (to get detailed proposals from those vendors) or an RFQ (to request pricing) for the project.

Should an RFI include pricing or quotes?
No – typically pricing is not included in an RFI. The RFI is meant for information-gathering about products, services, or vendor qualifications, not formal bids. Discussions about costs or asking for price quotes generally happen later in the process, during the RFQ stage or as part of a detailed RFP.

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