An RFI (request for information) is a formal process for gathering information from potential suppliers of a good or service. RFIs are intended to be written by customers and sent to potential suppliers. An RFI is typically the first and most broad series of requests intended to narrow down a list of potential vendor candidates.
RFIs can be very useful when an organization has little knowledge of possible vendors and wants to reduce the time and cost of evaluating vendors.
RFIs are often used in various instances, for example, in making major IT (information technology) purchases. The goal of using an RFI is to gather information on a market in a formal, structured way. The document should identify the requirements an organization has while requesting specific answers to how the vendor will meet them.
To help identify differences among vendors, a good RFI will also focus on requirements unique to the inquiring business and on concerns that are less likely to be addressed by every vendor. Recipients are usually asked to submit their responses in a standard format to make comparisons easier.
Please reach out should you require further assistance with the RFI functionality in the tealbook!