What is RFI in procurement? Put simply, it stands for Request for Information – a document you submit to prospective bidders to collect information about their qualifications and the goods or services they offer. It’s a critical part of the procurement process, informing decisions about the best vendor for a given project. To get the most out of an RFI, be sure to include specific criteria and plenty of detail so that any questions can be answered quickly and without confusion. This is your opportunity to explore every angle and make sure you’re making an informed decision – so make sure to take advantage of this powerful tool!