The official business definition of RFI (Request for Information) is a document used to solicit information from vendors or suppliers in order to determine the best solution for a given business need. It is a standard business process used to collect information from potential suppliers or vendors in order to evaluate their capabilities and determine which one is the best fit for a given project. RFI‘s are typically used when a company is looking to purchase goods or services, and need to understand the capabilities of the potential vendors or suppliers. They are also used to identify potential vendors or suppliers who may not have been previously considered. The RFI process allows a company to gain an understanding of the capabilities of the potential vendors or suppliers, and compare them to the company’s needs. The RFI process also allows a company to evaluate the cost of the goods or services being offered, and determine if they are within the company’s budget.
