The Straightforward Guide to RFIs

If you’re looking to invest in a new tool for your business, you’ll need to do your research. In many cases, that research will start with a Request for Information (RFI). Not sure what an RFI is? We’ve got you covered in this quick guide. What does RFI mean? An RFI or Request for Information is an educational tool used by procurement teams to understand the options available for solving a problem or completing a task. For example, if a business needed a new server solution, they’d send out an RFI, and companies that offered servers would respond to share…

RFQ vs. RFP: What’s the Difference?

Have you ever shopped for something online, compared prices, and read reviews until you knew you were making the right decision? That’s similar to what businesses do when they need to purchase something as well, except it’s a slightly more formal process. In the business world, the process includes having vendors or companies submit RFPs (request for proposal) or RFQs (request for quote) so you can compare their products and services. These documents help businesses decide which vendor they want to buy from. It’s similar to when we, as consumers, shop online and look at prices and reviews to compare,…

The Ultimate Guide to RFPs

Have you been tasked with the job of creating a request for proposal, or an RFP? Whether you have no idea what that is or haven’t written one in awhile, today’s guide can help. We’re diving into the specifics of what an RFP actually is, why you might need one, and how to create your very first one today. To start, you should understand what all these letters even mean.   When your company has a new (often large) project, or one that’s more complex and requires a bit of outsourcing, an RFP can help you get the job done…

How to Write a Request for Proposal with Template and Sample

Whether you’re working for a small agency or a major marketing firm, you’re probably eventually going to need to fill out a Request for Proposal, or RFP. Your company can’t do everything internally, and when your business needs to purchase a product or service from elsewhere, you might need to shop around. An RFP allows you to collect offers from various vendors and select the vendor that best meets your criteria, both in regards to skill and budget. Any time you outsource work to a supplier, there’s a potential for issues such as miscommunication around the scope of the work…