Glossary
What is RFQ vs RFP vs RFI?
Last updated July 2026
Definition
An RFI gathers information, an RFP solicits proposals for a complex need, and an RFQ requests a price for a defined item. RFQs are the high-volume, automatable core of tactical buying.
Use an RFI to learn the market, an RFP when scope and approach are open, and an RFQ when you know exactly what you need and want a price.
Because RFQs are structured and repetitive, they're the sourcing step where automation and fair-value benchmarking pay off first.
Part of RFQ & sourcing automation.
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