RFP vs RFQ vs RFI: Choosing the right sourcing process at the right time
At a glance
RFPs, RFQs, and RFIs each serve distinct purposes in the sourcing process—evaluation, pricing, and information gathering.
Using the wrong process wastes time, strains vendor relationships, and increases costs.
Clear timelines, documentation, and reviewer coordination ensure efficient, transparent sourcing.
Moxo streamlines these workflows with automation, vendor portals, and real-time collaboration to accelerate decisions.
Confusion over RFI, RFQ, and RFP slows down savings
Procurement has become more complex, with global supply chains, compliance mandates, and rising stakeholder expectations.
According to McKinsey, companies can unlock up to 12% in annual savings through more strategic procurement practices. Yet, confusion about which process (RFI, RFQ, or RFP) to deploy often slows teams down.
Consider a mid-sized consulting firm. They needed a new vendor portal, but they jumped straight into an RFP without understanding market capabilities. The result? Weeks wasted reviewing proposals that didn’t fit their needs. This scenario is common – and avoidable.
Definitions & use cases: Clarifying RFP vs RFQ vs RFI
Request for information (RFI)
An RFI is used at the exploratory stage. It helps teams understand market options before making requirements too rigid.
Use cases: Evaluating emerging technologies, assessing supplier capacity, or learning about compliance certifications.
Example: A logistics company might issue an RFI when exploring AI-powered route optimization tools.
Request for quotation (RFQ)
An RFQ is for price benchmarking when requirements are already defined. Vendors provide line-item pricing against clear specifications.
Use cases: Commodity purchases, standardized software licenses, or bulk services.
Example: A healthcare provider may send RFQs to multiple vendors when sourcing laptops with identical specs.
Request for proposal (RFP)
An RFP is for strategic sourcing decisions. It evaluates vendor fit across cost, quality, compliance, and service models.
Use cases: Selecting a new ERP, outsourcing tax compliance, or finding a strategic logistics partner.
Example: A regional accounting firm might issue an RFP when replacing its client portal software.
Side-by-side comparison: RFI vs RFQ vs RFP
This framework makes sequencing clear: start with an RFI to gather insights, narrow choices with an RFQ, and finalize through a detailed RFP.
Matching artifacts and timelines to your sourcing process
Each sourcing process comes with its own set of deliverables and expectations.
RFI artifacts: short questionnaire, market overview template, response summary. Timeline: 2–3 weeks.
RFQ artifacts: detailed pricing sheet, technical specs, standard terms. Timeline: 1–2 weeks.
RFP artifacts: full requirements document, evaluation matrix, proposal scoring sheet. Timeline: 4–6 weeks.
For instance, a firm exploring workflow automation software might start with an RFI to gauge market maturity, move to an RFQ for pricing benchmarks, and conclude with an RFP for final evaluation. Without these stages, firms risk missing critical insights or overpaying.
Coordinating with stakeholders and connecting approval paths
Procurement is rarely a solo effort. Each sourcing process requires coordination across finance, legal, IT, and operations.
RFIs typically involve procurement analysts and category managers.
RFQs add finance for budget validation.
RFPs often involve full steering committees, including executives, compliance, and IT security.
A financial services firm streamlined this by embedding structured approvals into Moxo workflows. Instead of long email chains, stakeholders reviewed documents within a shared portal, cutting approval times by 40%.
Running the process in Moxo
Traditional procurement processes rely on scattered emails, spreadsheets, and manual reminders. Moxo centralizes these into a single digital workspace.
- Procurement teams can create workflows that mirror RFI, RFQ, or RFP stages.
- Vendors are invited via secure Magic Links, reducing onboarding friction.
- Reviewers access documents, forms, and scoring sheets in one client-facing portal.
- Automated reminders ensure deadlines are met.
- Role-based security protects sensitive information.
For example, Zeta Global used Moxo to orchestrate complex onboarding workflows. They achieved a 75% faster launch timeline and an 80% increase in task completion rates, proving the value of centralized collaboration.
Moxo templates for sourcing success
Standardizing sourcing with templates reduces ambiguity and accelerates cycles.
RFI templates: structured questions to assess capabilities.
RFQ templates: pricing comparison sheets.
RFP templates: evaluation scorecards with weighted criteria.
In Moxo, these templates become interactive workflows, not static documents. Teams can track vendor progress, escalate delays, and capture approvals in real time. This not only ensures consistency but also makes audit trails seamless during compliance reviews.
How Moxo ensures smooth vendor collaboration throughout the sourcing cycle
Supplier onboarding involves multiple touchpoints, from KYC verification to contract signing. Moxo brings all of it together in one structured, auditable flow.
Teams can automate KYC collection and review through document workflows, route approvals using workflow automation, and trigger notifications for pending verifications.
Suppliers access a branded vendor portal to upload credentials, complete forms, and sign contracts via integrations. Dashboards track onboarding status, while audit logs ensure compliance readiness.
Moxo helps teams onboard suppliers faster, reduce manual risk checks, and establish reliable vendor partnerships from day one.
Sequence your sourcing correctly to unlock maximum ROI
RFPs, RFQs, and RFIs are not interchangeable; they’re stepping stones in a sourcing journey. Using the wrong one at the wrong time leads to delays, poor vendor fit, and overspending. But when paired with Moxo, the entire process becomes structured, collaborative, and audit-ready.
Next Step: Calculate your ROI with Moxo or Book a Demo to see how much time and revenue your firm can save this year.
FAQs
What is the main difference between RFP, RFQ, and RFI?
An RFI gathers information, an RFQ benchmarks prices, and an RFP evaluates full vendor proposals for decision-making.
How long does each sourcing process take?
RFIs usually take 2–3 weeks, RFQs 1–2 weeks, and RFPs can extend to 4–6 weeks depending on complexity.
Can Moxo handle multiple sourcing processes simultaneously?
Yes. Teams can run parallel RFI, RFQ, and RFP workflows in Moxo with distinct templates, reviewers, and vendor groups.
How does Moxo improve procurement ROI?
By reducing cycle times, cutting email back-and-forth by 95%, and ensuring faster approvals. Case studies show 40–60% efficiency gains.
Are there alternatives to RFPs, RFQs, and RFIs?
Yes. Some firms use pilot projects or direct negotiations, but standardized processes like RFPs remain best practice for strategic sourcing.
