What is an RFI?

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An RFI, or Request for Information, is a standard business process document organizations use to gather details about goods, services, or suppliers. It is typically used in the initial stages of procurement to collect broad information that might not be as detailed as a Request for Proposal (RFP). The primary purposes of an RFI include:

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• Clarifying available options for a project or need.
• Understanding capabilities and services of potential suppliers or vendors.
• Informing the development of more detailed documents, such as RFPs or RFQs (Request for Quotations) and security questionnaires

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An RFI allows companies to compare a wide range of potential partners or solutions before committing to a specific choice, ensuring that the subsequent selection process or procurement is well-informed and tailored to the organization's needs.