The official business definition of RFI (Request for Information) and RFP (Request for Proposal) is an essential part of the procurement process. An RFI is a document that a company or organization sends out to potential vendors to solicit information about their products or services. It is typically used to gather information on pricing, capabilities, and availability of the vendor’s offerings. An RFP is a more detailed document that is sent out to potential vendors after the RFI process is complete. It includes more specific requirements and outlines the expectations of the company or organization. The RFP also includes a timeline for the vendor to submit their proposal and a deadline for the vendor to respond. The RFP process is used to compare vendors and select the best one for the job.
