The official business definition of the RFP acronym is Request for Proposal. This is a formal document that is used to solicit proposals from potential vendors or suppliers. It is a tool used by organizations to identify and select the best vendor to meet their needs. The RFP outlines the specific requirements of the organization and provides vendors with the information they need to submit a proposal. The RFP also outlines the evaluation criteria that will be used to evaluate the proposals and select the best vendor. The RFP process is an important part of the procurement process and can help organizations save time and money by ensuring that they are selecting the best vendor for their needs.