RFI stands for Request For Information. It is a business process in which an organization will seek out information from the public or other vendors to help them better understand what products and services are available that could potentially meet their needs. RFI‘s are typically used during the procurement process, giving organizations the opportunity to gather more detailed information before making a decision on which vendor to choose. They enable procurers to get a better understanding of the market by receiving insights into products, services and offers from multiple potential suppliers. In short, RFI’s allow organizations to make better informed purchasing decisions.