Download our FREE RFI template to get started with your initial market assessment.
The RFI template is a basic version of the Rapid RFI (RRFI) that forms part of our RRFI service. It includes instructions to complete an RFI for those that are new to the process or those who want to make a quick start.
An RFI (also known as a Request for Information) is the commonly used mechanism to run an initial market assessment for goods or services.
The RFI is designed to communicate a requirement and solicit suggested approaches from a variety of different vendors. The RFI is usually issued to a 'longlist' of potential suppliers - the result of the process is to arrive at a 'shortlist' of potential options.
The RFI is a precursor to a more detailed bidding process called a Request for Proposal or RFP.
The RFI Process
The RFI is an opportunity to find different approaches and suggestions as to how to tackle a business problem. As such, the RFI works really well when posed as a 'problem statement'.
Let the vendors propose how they would approach the challenge and use the RFI as a mechanism to cast the net far and wide. Done well, the RFI should inform the RFP process and document.
If the initial market assessment has already been completed, you might want to look at issuing an RFP (Request for Proposal).
The link below contains an RFP Template that provides instructions on how to write an RFP document to produce the very best results.
The Viewpoint Analysis 'Rapid RFP' (RRFP) is the quickest way to run an RFP process for technology requirements.
We publish a series of FREE 'Technology Longlist Guides'. Each looks at a different area (e.g. HR technology) and suggests vendors that may be worth your consideration.
If you are looking to issue your RFI but want advice on the vendors that could be useful, the Longlists might be what you need.