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If you’re familiar with the procurement process, you’re also familiar with the difference between an RFI vs. RFP. However, you may be working on your first bid or contract. As a buyer, you might not be sure whether to post an RFI or an RFP. As a contractor, you may not know how to answer each one appropriately. In this blog, we’ll cover not only the difference between the two, but also how to respond to them.
RFI stands for a Request for Information. A buyer usually posts an RFI before an RFP. It is very rare for buyers to post an RFI and then move immediately to a Request for Quotation (RFQ). When a buyer posts an RFI, they’re seeking solutions. They typically have a general idea of the outcome they seek, but aren’t sure how to get there. This is often because they are unfamiliar with the marketplace they are entering.
RFIs allow a buyer to receive input from multiple sources. Vendor’s responses should include a proposed solution in detail. Also included should be the vendor’s position in the marketplace. Potential fees or a general budget can be provided. While vendors can mention their experience in an RFI, this is usually more important in an RFP. Once they’ve determined the best solution, buyers can then post an RFP. Sometimes, a buyer will negate an RFP and choose the vendor at this point.
A vendor’s primary goal with an RFI is to simply suggest the best solution to the buyer’s problems or goals. The solution may secure you a contract, either immediately or in a future bid.
Usually, less questions are asked in an RFI vs. RFP. This is due to an RFP’s specific nature, while an RFI is more general. In an RFP, the buyer already knows what they want. In an RFI, the contractor is essentially persuading the buyer to choose their solution. Sometimes, the buyer is not sure if they want to proceed with the project. A contractor wants to provide such a good solution that the buyer decides to invest in it. RFIs are relatively informal and take less time to respond to. An RFI typically consists of open-ended questions. Thus, a contractor is not usually answering with a yes or no response.
Responses may or may not include pricing, depending on the RFI or contractor’s preference. When a vendor responds, they should not just list off their organization’s products and services. Again, this document is all about persuading. Why should the buyer choose your solution? A contractor will want to include value-added and non-tangible elements that make them stand out against competitors. Having a Subject Matter Expert (SME) is extremely beneficial for an RFI and RFP. This is someone with expertise in a particular sector. Contractors use SMEs to ensure their responses are accurate to both the RFI and the business’ capabilities.
Contractors should incorporate responses to the following questions in their RFI response:
Some contractors keep a library of SME responses. When a contractor typically bids within a specific sector, keeping a library saves time. A contractor can minimally modify past SME responses to suit a new RFI. However, contractors should be wary of copy and paste responses. No two RFIs are alike, therefore, no two RFI responses are alike. Contractors must carefully read through the RFI and consider their solutions as unique. While copy and pasting may save a contractor time, it could lose them a contract.
When it comes to RFIs vs. RFPs, an RFP always comes second. At this point, the buyer has set expectations and requirements for their project and is ready to contract work. First, a contractor should ensure that the contract is right for their organization. If the company cannot fulfill the requirements or has no sector experience, it may not be the right choice. The contractor also needs to consider the submission deadline. More detailed RFPs require more time. A looming deadline may be reason to bid for another opportunity. Responding vendors should focus on proving their qualifications, ability to succeed, past work and methodologies. Contractors will also detail their resource plan, procedures, and fee structure.
An RFP is much longer than an RFI, and much more specific. Responding to an RFP takes analyzing the documents carefully before responding. With an RFP, vendors are given a period of time to ask questions. Questions can be as simple or as complex as the vendor wants. These questions are then posted anonymously alongside answers. The buyer may also make changes to the RFP at this point. Vendors should review their proposal to ensure it meets updated or clarified requirements.
Proposals must be in by the deadline to be considered. Proposals are either submitted to an online portal or delivered to a physical address. Sometimes, the buyer will extend the RFP to only one vendor. This happens when the buyer strongly favors one RFI response. This may occur because the solution was unique, the company was most qualified, or a combination of both. Other times, the buyer will shortlist their RFI responses. The chosen vendors then receive the RFP. The buyer may also publicly post the RFP. A buyer may award the contract to one or several vendors, depending on the contract requirements.
The differences between an RFI vs. RFP is most obvious when comparing the detail and workload. Writing a proposal is far more time consuming than responding to an RFI. RFPs can be very long and detailed. These require a close eye when reading and careful dissection of each section. A contractor will need to pick out any questions that need answering, including forms and external documents requested. RFPs can also be very short and brief. This can be tricky, as you’ll need more sector experience to understand implied requirements. These requirements may not be explicitly stated. Buyers assume that vendors are aware of these.
For example, let’s say a buyer wants to build a school. They may list a requirement as forming a curriculum for each year. The buyer does not list the subjects, the grade levels nor state testing requirements. This is because the buyer expects highly qualified professionals from the educational sector to respond. To these professionals, this is common and implied knowledge. Contractors should always involve their SMEs in the response process. However, they also must mind word count and page limits. While some RFPs have neither, others have one, the other or both. Any RFP past the given word count or page requirement will not be considered.
Beyond the RFP responses, there may be several appendices. These appendices often contain forms that must be signed or completed. Always note whether wet signatures are required. These appendices may also contain important information regarding expected services. When submitting a proposal, a contractor may choose to use appendices as well. This saves you space when you need it. You can attach documents, including charts and graphs, without it affecting word count. However, we do suggest using the question period to confirm that additional documents are acceptable.
Your responses are scored, which is a major difference between RFIs vs. RFPs. Luckily, RFPs usually contain evaluation criteria. This serves as a guide, informing contractors which sections of the RFP have more weight. Sometimes, each section has equal weight in the final score. Contractors should check which sections impact the score the most and distribute work accordingly. More work should go into a section worth 80%, for example, over a section worth 5%.
Bidding contractors should consider the following questions and apply them when responding:
Contractors should always check that their responses are relevant. When trying to sell yourself, it’s easy to get lost in the woods. A success in a completely different sector, for a contract requiring differing services, is irrelevant. Buyers have multiple RFPs to read and respond to. A contractor does not want their RFP rejected due to unwanted information. Proposal feedback is released when the buyer chooses a contractor. We strongly suggest reading this feedback and seeing where points have been lost or gained. We also suggest keeping an RFP library for future reference.
As you can see, writing an RFP can be tedious and meticulous work. Learning to write high-quality bid responses presents endless opportunities. A master Bid Writer can take a business to new heights, like securing federal contracts. While trial and error are good teachers, it can be stressful and time consuming. By outsourcing your bid writing, you take a load of pressure off your shoulders. If you don’t have the time to write an RFP, a Bid Writing Team can do it for you. Whether you want to write bids yourself or simply want to win the contract, Hudson Succeed can guide you. From educational courses to writing your bid for you, our experienced team is happy to help.
Familiarizing yourself with RFIs and RFPs is the first step in securing your first win. Understanding the basics of RFIs vs RFPs, however, can be tough. We’ve gone over several details, but the difference between the two requests can be summarized as such:
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Our RFP Writers will then craft persuasive, high-quality responses, attach supporting evidence and even submit the bid on your behalf. Upload the solicitation documents for a free quote.
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Our Writers will then assess your work, ensuring that your responses are in line with the specification. They will also check for any spelling or grammar errors. You can then submit your bid with confidence. Upload your work for a free quote.
Do you need help with preparing a bid proposal? Proposal Ready can help businesses that are new to bidding or those in need of rejuvenating their content. Our Bid Consultants will create:
Feel free to reach out to us for a quote on our bid writing services. We wish you luck on your bidding journey!
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