RFI

23 January 2011

An RFI is a very common document sent out by nearly every business at one time or another, as a way of finding the necessary information that is needed to peruse a business venture.

The RFI or Request for Information is the formal way of asking another business about what they have to offer that can be purchased. This type of request has to follow a particular pattern, so the information that is received will be helpful in determining which company will be used as a supplier of raw materials or service for the creation of a revenue stream by the requesting company.

To help ensure The RFI is composed correctly, many managers are using a project management template as a guide in the creation of this document. By using this management tool, the manager knows they are following one of the known acceptable guides that have shown to be effective in the business world.

The composition of the RFI must follow a particular pattern that is easy to understand by the recipient. This form is part of a business communication plan that hat to be clear, concise, and have no ambiguous wording for the correct response to be made to it.

Another reason for a RFI to be made with a template is that in nearly every instance, more than one will have to be sent out in order to get the right price and the correct delivery time to meet your needs. If every RFI that is to be sent out would have to be created for each one, the time for such a task to be completed would not be very efficiently used.  With the template in place from the very first one, only the name of the company receiving the request would need to be changed.

The need for a business to use and send out many RFI is real. This can also be the first contact your company has with a particular third party vendor. Just like in the private world, the first impression a business has of your company can make a difference in how well they respond to your request.