The official business definition of RFI stands for Request for Information. It is a document used to solicit information from vendors and suppliers in order to assess their ability to meet certain requirements. The purpose of an RFI is to obtain detailed information about a vendor’s products, services, and capabilities. This information is then used to evaluate potential vendors and make informed decisions about which vendor to select for a project. The RFI process is often used in the early stages of the procurement process, before the request for proposal (RFP) is issued. The RFI is typically sent to multiple vendors, who then provide responses with detailed information about their offerings. The responses are then evaluated and used to narrow down the list of potential vendors. By using an RFI, organizations can ensure that they are selecting the best vendor for their project.
