Request for Information (RFI)

A Request for Information (RFI) is a business process designed to collect written information about the capabilities of various suppliers. It is a standard procurement practice used primarily to gather data for informational purposes rather than selecting a specific supplier.

Typical objectives of an RFI include:

• Market research and supplier identification
• Capability and capacity assessment
• Technology and innovation evaluation
• Preliminary qualification screening
• Information gathering to develop more detailed RFPs/RFQs
• Understanding potential approaches to business requirements

Digital procurement platforms streamline the RFI process by providing customizable templates, automated distribution channels, structured response collection, and comparative analysis tools that transform raw supplier inputs into actionable intelligence.