The official business definition of RFI (Request for Information) and RFP (Request for Proposal) is often confused, but there are key differences between the two. An RFI is used to gather information from potential vendors or suppliers in order to make an informed decision on the best option for a particular product or service. It is generally used in the early stages of the procurement process and is a way to narrow down the list of potential vendors. An RFP, on the other hand, is used to solicit proposals from vendors or suppliers. It is typically used in the later stages of the procurement process and is used to select the best option for a particular product or service. An RFP will typically include detailed specifications and requirements for the product or service being requested, as well as the criteria that will be used to evaluate the proposals.