RFI vs. RFP: What’s the difference?

Man sitting at a wooden table with two books and a plant in a white pot, reading about RFI vs. RFP documents on a laptop.

The question is: Do you need more information, or are you ready to make a decision now? Your answer reveals whether you need an RFP or RFI. Learn the difference between the two to make sure you send the correct document.

Although a request for information (RFI) and a request for proposal (RFP) can be quite similar, their major differences really depend on your intention. Whether you’re looking for basic info or want to collect official proposals, knowing the difference between RFI and RFP is important.

What is a request for information (RFI)?

If you’re not quite sure what you need, an RFI might be for you. A request for information (RFI) is a document that formally requests additional information from a vendor. The goal is to find the best solution to a problem.

It’s important to gather all the information you can about a product or service and how it will resolve an issue before making an official decision. Sending an RFI to a vendor helps collect vital information to help you make an informed purchasing decision.

What is a request for proposal (RFP)?

After carefully reviewing the information requested, you may be ready for an RFP. RFP meaning a request for proposal, is a document that outlines the scope and details of a specific project so that a vendor may submit an official proposal. You know how you want to solve the problem; now, you want to know how a vendor will make it happen.

Your RFP should include all relevant information about your project that a vendor will need. It should be as clear, specific, and detailed as possible to ensure vendors have all the information they need to offer a realistic proposal.

Is there a difference between RFI and RFP?

The main difference between RFP vs. RFI is in the details. An RFI is the beginning of the vetting process. You’re simply collecting information to make an informed decision. It includes more information about your problem rather than the exact project scope and details.

Once you know the exact problem you're facing and the solutions you'd like to implement, an RFP is the official request for a proposal. It contains all the crucial details vendors will need to offer pricing, timelines, and resources.

Simplify with a proposal template.

If you work with vendors regularly, having an RFI or RFP template readily available is a good idea. That way, you can simply edit your premade document rather than start from scratch with every project.

You can download free business proposal templates online to make crafting your documents easy. Simply download the template, edit the information to suit your business needs, and you’re ready to send it to vendors.

Most business documents require some sort of signature to make them official. If you don't want to worry about printers or snail mail, you can even sign PDFs online to help conclude the deal even faster.

Frequently asked questions.

Should an RFI provide pricing information?

Although RFIs are less detailed than RFPs, they should still include pricing information. Price is often a major factor that influences business decisions, so they should be determined as soon as possible to help with the vetting process.

What is an RFQ?

An RFQ is a request for a quote. It’s a document that specifically asks for pricing information from a vendor. An RFQ is different from an RFP because it’s solely focused on cost rather than the project as a whole.

In what format should I save my business documents?

Any document designed for sharing, like an RFI or RFP, should be saved as a PDF. PDF documents maintain their formatting regardless of which device is used to view them.

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