Rfx, or Request for Proposal (RFP), is a formal process used by organizations to purchase goods and services. It’s typically initiated when an organization has identified a need and is actively seeking competitive bids from vendors. An RFP includes information about the requirements, specifications, and desired outcomes of the procurement, as well as any relevant time frames and budget constraints. By opening up the process to competition, organizations can ensure that they receive the best quality goods or services for their needs at a reasonable price.