Request for Information (RFI)
An RFI, which stands for request for information, is a formal solicitation document used by businesses and government agencies for market research. It allows businesses to receive information from potential suppliers about their capabilities, offerings, product expertise and services. The RFI does not seek specific pricing or service tier information.
By issuing a RFI, the buyer can review the responses to make an informed decision when selecting which suppliers to invite for a request for proposal (RFP) or request for quote (RFQ).
A RFI, for the sell side, represents a chance to demonstrate to potential buyers their competitive advantages, unique selling points, solutions and industry experience. After receiving a request for information, a response starts to be developed and submitted within the designated timeline and following all the submission instructions.
Quality responses require the expert input and exceptional time management
Work efficiently and accurately. Include key stakeholders, involve experts. Get the relevant approvals and do so on time. These are just some of the ingredients needed for a successful RFI response. Getting it just right requires teamwork and the right tools to keep the project on track.
Responding to an RFI successfully all hinges on great interdepartmental collaboration to provide the most accurate and complete picture possible. The information provided then needs to be wrapped in a compelling and easy to digest package that’s also visually appealing and on brand to stay memorable. Since every RFI is unique, this is traditionally a very manual and labor-intensive process with tons of moving parts.
Documill enables sell-side teams, departments and even external experts to seamlessly collaborate throughout the RFI response document creation process. Formalize the way you respond to RFIs by setting up a workflow that automatically notifies and involves the right parties – such as pre-sales teams, solution experts, and third-party suppliers – with the correct privileges. Whether that means inviting entire teams to add information to your response document, or asking department heads for formal approvals, it’s all handled automatically – triggered from within Salesforce.
- Use Documill Leap to orchestrate how you will respond to requests for information
- Invite all relevant parties and automatically assign them the right roles and privileges for fast and efficient collaboration.
- Automatically notify each project collaborator to keep on schedule with minimum overhead