Request for Information (RFI)

What Is a Request for Information (RFI)?

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.

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