The RFI/RFP/RFQ process in procurement is a streamlined, engaging way to acquire the best goods and services for your organization. This three-step process begins with an RFI (Request for Information), which allows you to assess potential vendors before narrowing down to those who are qualified to participate in the next phase – the RFP (Request for Proposal). After evaluating proposed solutions from each vendor, an RFQ (Request for Quote) process is used to select an optimal solution from the finalists. This method of procurement ensures that you are getting the most cost-effective and efficient result for your organization.