What Is an RFI? (Request for Information Explained)

What Is an RFI?

An RFI, or Request for Information, is a formal information document used in business and procurement to request information and gather general information from potential vendors, suppliers, or contractors before making a purchasing decision. The primary goal of an RFI is to collect general information about potential partners and potential solutions available in the market, helping organizations evaluate which vendors might be suitable for further engagement, much like how Steerlab’s mission to modernize PreSales processes focuses on improving how companies handle these evaluations.

It’s typically the first step in a procurement process — before an RFP (Request for Proposal) or RFQ (Request for Quote). An RFI doesn’t commit either party to anything. It’s simply a way to learn what’s available in the market. An RFI is just that: a straightforward tool to efficiently gather essential information before moving on to more detailed proposals.

RFI vs. RFP vs. RFQ: What's the Difference?

These three documents are often confused:

• RFI (Request for Information) – Used to explore what vendors can offer. No commitment required. Broad and exploratory.
• RFP (Request for Proposal) – Used when you’re ready to receive in-depth and detailed information from vendors. More specific and structured, RFPs ask vendors for comprehensive proposals, including product specifications, pricing, and support details.
• RFQ (Request for Quote) – Used when you know exactly what you need and just want pricing. Highly specific, RFQs do not seek creative input from suppliers but focus on obtaining fixed quotes based on predetermined specifications and delivery terms.

Think of it as a funnel: RFI → RFP → RFQ.

This sequence forms the core of the bidding process, where each document asks vendors for different levels of information to facilitate supplier selection and competition, and it’s a frequent focus of insights and trends on Steerlab’s blog.

When Should You Use an RFI?

Use an RFI when:

• You’re exploring a new market or product category
• You don’t know enough about available vendors to write a proper RFP
• You want to pre-qualify a vendor list before going to full tender
• You’re benchmarking vendors or gathering competitive intelligence

RFIs are especially useful when evaluating several suppliers to compare offerings, compliance, and delivery timelines, helping you identify potential partners in the early stages of procurement.

RFIs are common in industries like construction, government procurement, IT, manufacturing, and professional services.

RFIs can also help organizations assess risk factors—such as business continuity, reputation, and data security—associated with different vendors before moving forward.

RFI Use Cases

RFIs are a versatile tool in the procurement process, with applications across a wide range of industries. In the construction industry, for example, construction professionals often use RFIs to gather information about potential suppliers of materials, equipment, or subcontracted services. By issuing an RFI, a construction company can collect essential information from different suppliers—such as product specifications, availability, and service capabilities—before making any commitments.

During the pre-qualification stage, RFIs help companies evaluate potential vendors and narrow down their options to those best suited for a specific project. This approach not only streamlines the procurement process but also helps reduce costs by ensuring that only qualified suppliers move forward to the next phase. Whether a company is sourcing new building materials, exploring innovative construction methods, or seeking reliable partners for a large-scale project, RFIs provide a structured way to gather information and compare vendor offerings. Ultimately, using RFIs enables companies to make more informed decisions, improve vendor choices, and enhance the overall efficiency of their procurement process.

What Does an RFI Typically Include?

A well-structured RFI usually contains:

1. Company background – Basic information and introductory information about your organization, including who you are and what you’re looking to solve
2. Scope of need – A high-level description of what you’re looking for; note that more detailed requests, such as RFPs, may require specific project details
3. Questions for the vendor – The core of the document; specific questions to assess capability, experience, and fit
4. Submission instructions – Format, response deadline, and contact details; vendors may be required to submit scanned documents as part of their response
5. Evaluation criteria – How responses will be assessed (optional but helpful)

RFI Template

An RFI template serves as a standardized framework for requesting information from potential suppliers. This formal document typically includes sections for a company overview, project scope, specific requirements, and evaluation criteria, ensuring that all vendors receive the same information requested and can respond in a consistent manner. By using a well-designed RFI template, companies can collect written information from various suppliers efficiently, making it easier to compare responses side by side.

A good RFI template also provides space for vendors to offer additional information or further clarification on their answers, which helps buyers gain a better understanding of each supplier’s capabilities. Including clear instructions and a section for specific requirements ensures that vendors can provide accurate responses tailored to the project’s needs. By streamlining the RFI process with a standard format, companies can save time, improve the quality of information gathered, and make more informed decisions when selecting suppliers for their projects.

How to Write an Effective RFI

Keep it focused. An RFI that's too long will get poor response rates. Tips:

• Ask only the questions you actually need answered
• Be specific about your timeline and project scope
• Make it easy for vendors to respond (structured format, clear instructions)
• Give vendors enough context to give you meaningful answers

How to Respond to an RFI

If you're a vendor receiving an RFI:

• Answer every question clearly and concisely
• Tailor your response to the buyer's specific needs — don't send a generic pitch
• Highlight differentiators without overselling
• Respect the format and submission deadline

A strong RFI response positions you for an RFP invitation, and specialized platforms built for PreSales teams responding to RFIs and RFPs can further increase your chances of success.

Evaluating RFI Responses

Once RFI responses are received, the next step in the procurement process is to evaluate and compare the information provided by different vendors. The evaluation criteria—outlined in the original RFI document—typically cover key factors such as pricing, delivery timelines, and the general capabilities of each company. Reviewing these details allows procurement teams to identify which vendors best meet the project’s specific requirements and align with the company’s goals.

It’s important to look for responses that are both detailed and accurate, as well as those that demonstrate a clear understanding of the project scope and industry trends. By applying best practices and using the established evaluation criteria, companies can objectively assess each vendor’s strengths and weaknesses. This process helps to identify the most suitable vendors for further consideration, ensuring that only those who meet the necessary standards move forward in the procurement process.

The Problem with RFIs Today

Managing RFIs and related vendor questionnaires is time-consuming. Procurement teams spend hours crafting questions. Vendors spend hours filling out the same boilerplate answers across dozens of RFIs. Tracking responses, comparing vendors, and following up is a manual nightmare.

That's where automation changes everything.

Automate Your RFI Process with Steerlab

Steerlab.ai is built specifically to automate the RFI process — from drafting questions to collecting, analyzing, and comparing vendor responses — and offers AI-powered features for proposal automation.

Instead of managing spreadsheets and email threads, Steerlab lets you (backed by a company that raised $1.9M to transform RFP automation):

• Generate RFI questionnaires in minutes
• Send and track responses from a single dashboard
• Automatically score and compare vendor answers
• Move the best vendors forward to the RFP stage without the manual work, especially when combined with RFP automation to save time and win more contracts

If your team handles RFIs regularly, Steerlab can save dozens of hours per procurement cycle by supporting seamless RFP software integration for efficiency and accuracy.

Future of RFIs

The future of RFIs is being shaped by rapid advancements in technology and the ongoing evolution of the procurement process. As digital tools and automation become more prevalent, companies are increasingly able to issue, manage, and evaluate RFIs with greater speed and accuracy. The integration of AI into the RFP process and the broader RFI workflow allows for smarter data analysis, automated content generation, and more efficient comparison of vendor responses.

Online platforms, specialized RFP software with advanced automation features, and digital marketplaces are also transforming how companies request and receive information, making it easier to connect with multiple vendors and gather additional details in real time. By embracing these innovations, organizations can reduce costs, streamline their procurement workflows, and make better-informed decisions. As the RFI process continues to evolve, companies that leverage technology will be well-positioned to stay ahead in a competitive procurement landscape.

Key Takeaways

• An RFI is a preliminary information-gathering tool used before issuing an RFP or RFQ
• It's non-binding and used to understand market capabilities
• A good RFI is focused, structured, and easy to respond to
• Automating your RFI workflow with tools like Steerlab dramatically reduces procurement overhead

Ready to simplify your procurement process? Try Steerlab.ai and automate your next RFI.

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