Question

How to write Request for Information (RFI)

Answer 1

Definition of Right for Information

A request for information is a document that asks for information from suppliers about their products and/or services. It is a preliminary document, usually sent early in the buying process, with the purpose of gathering general information about a vendor’s ability to meet a company’s needs and solve unique problems.

Generally speaking, a RFI is used to filter potential candidates (especially in the areas of construction, IT, and advertising) before sending a more specific Request for proposal (RFP) or Request for quotation (RFQ).

Benefits for Sending of RFI

First off, it enables companies to reduce the pool of potential suppliers significantly – which will lead to savings in both time and money at later stages when detailed proposals need to be evaluated.

Secondly, because responses are sent in a standard format, responses to an RFI are extremely useful for comparison.

Finally, an RFI can encourage competition among vendors, especially when it is shared on a public platform that invites a large number of responses.

How to write a RFI

RFIs tend to have a similar structure, closely related to a proposal format. While every RFI is unique – based on the unique needs of the sender – understanding this basic format will give you a good grounding in crafting effective RFIs.

Include the following four elements in your RFI:

1. Overview

Here, outline what you are seeking in general terms, along with some introductory information about your company.

The overview shouldn’t be longer than a few paragraphs. After reading it, vendors should understand that the document is an RFI, know who you are, and be clear about what deliverables you require.

2. Details of services required

In this section, you should elaborate in more detail about the products and/or services you require. Explicitly state any exact specs – such as general pricing, delivery timelines, personnel requirements, etc. - that are appropriate at this stage.

You do not want to be overly-detailed, but you should give enough information for the vendor to provide a comprehensive response in line with your informational requirements, enabling you to make a robust comparison.

3. Guidance about how to respond

It’s important to include details about how a recipient should respond.

Include guidelines about the format that recipients should use or, even better, a pre-made template. Also, include the deadline for responses here.

4. Points of clarification

Any further details that don’t fit into other sections should be put here.

You can include information about solutions you are not looking for – such as similar, but unwanted alternatives, preferences for personnel, evidence of past experiences (case studies), and so on. You may also include information about your evaluation process.

QUALITIES OF RFI

1. Asks for information to be given in a standard format

A well-crafted RFI will provide clear details about how answers should be formatted. Preferably, a template will be included that corresponds to the specifics of the information being requested.

2. Provides clear guidelines for responses

Along with a clear format for replies, further details are also provided about how to respond. These guidelines include a timeframe or deadline for submission, guidance about how vendors can seek further clarification, and details about how to include any non-essential information – such as when a vendor might have a new solution that might be a better fit for the company’s need.

3. Does not include overly-detailed product/service requests

Remember that a RFI is used to acquire general information. If a company asks for specific product pricing without using the correct RFQ template, it will lead to wasted time for both the sender and the recipient.

Don’t try to merge separate purposes at this stage. It’s essential to remember that RFIs are intended for comparative purposes, not for making a final purchase decision.

4. Considers the recipient

Keep in mind that a vendor has to exhaust resources to prepare a response. Making it as easy as possible for recipients to collate and send the necessary information will boost both the quality and quantity of responses.

5. Based on a proven template

RFIs should be based on templates that worked well in the past.

Cloud proposal software provides the analytics and document creation tools needed to integrate effective templates into your existing software and build a smart proposal workflow.

6. Leverages follow up best practical

Practical emails are best sent late in the morning on weekdays and follow up emails should be sent with regularity almost immediately after the first email. Follow best practices to ensure quick responses.