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A VP of Sales opens an email from a Fortune 500 prospect. Subject line starts with "RFI." The team scrambles.
Here's the uncomfortable truth: most sales teams treat RFIs like RFPs. That's why they lose deals before they start. They either over-invest 40 hours in a response for a buyer who's 12 months from signing anything, or they dismiss the RFI entirely and miss the chance to shape the requirements.
Understanding what an RFI is (and more importantly, when and how to respond to one) is the difference between burning resources on tire-kickers and strategically positioning yourself to win high-value deals before the real competition even begins.
Definition: What is an RFI?
An RFI (Request for Information) is a formal document buyers use to gather preliminary information from potential vendors during the earliest stage of procurement, before they've defined requirements or committed to a purchase.
Let's break down the acronym and what it really means:
RFI stands for "Request for Information." It's an exploratory tool, not a buying signal. When a buyer sends an RFI, they're essentially saying, "We have a problem, but we don't know what solutions exist or which vendors can help us."
Unlike RFPs (Request for Proposal) or RFQs (Request for Quote), RFIs are open-ended and focused on "what's possible" rather than "what's the price" or "how will you solve our specific problem." The questions are broad: "What capabilities do you offer?" "What industries do you serve?" "What does implementation typically look like?"
Here's a real example: A healthcare company exploring patient engagement platforms sends an RFI to 10 vendors: "What capabilities do you offer for multi-channel communication? What's your typical deployment timeline?" Notice what's missing: specific requirements, budget figures, decision timelines, or evaluation criteria. That's by design.
The key differentiator: RFIs are research tools. Buyers are conditioning the market, not yet ready to negotiate contracts or compare detailed proposals. They're building internal knowledge, creating a shortlist, and (most importantly) figuring out what questions to ask in the RFP that will follow 6-12 months later.
Think of an RFI as the buyer's way of outsourcing their market research to you. They're asking you to educate them. And if you do it well, you'll shape the requirements that favor your solution when the real evaluation begins.
Why buyers issue RFIs: What they're really looking for?
Buyers issue RFIs when they have a problem but lack clarity on solutions, vendors, or requirements. They're not evaluating. They're educating themselves and their stakeholders. Here are the four core reasons buyers use RFIs.
1. Market discovery: They don't know what solutions exist
Most procurement processes start with a knowledge gap. A VP of Revenue Operations knows their sales team is drowning in RFP responses, but they don't know whether to build a custom solution, buy a point tool, or implement an AI platform. So they send an RFI to 15 vendors asking, "What approaches exist for automating proposal responses?"
The goal isn't to evaluate vendors. It's to map the landscape. What categories exist? What's table stakes versus cutting-edge? Who are the established players versus emerging innovators?
2. Vendor identification: They need to create a shortlist
Let's say a buyer Googles "revenue intelligence software" and finds 50 companies. They can't take demos with all 50, so they send an RFI to narrow the field. The RFI becomes a filter: Which vendors have industry experience? Which can scale to our size? Which understand our use case?
We've seen this pattern repeatedly at Realm. A buyer sends an RFI to 20 vendors, reviews the responses, and invites 5-8 to the RFP stage. The RFI isn't about winning the deal. It's about making the shortlist.
3. Budget planning: They're building a business case
Executives don't approve six-figure software purchases without data. A Director of Sales Enablement might believe the team needs an AI-powered knowledge platform, but to get budget approval, they need to answer questions like: What's the market rate for this type of solution? What does implementation cost? What resources will we need?
RFIs provide the ballpark figures and resource estimates that feed into business cases and budget requests. The buyer isn't ready to negotiate. They're building the internal case for why this investment matters.
4. Internal alignment: Multiple stakeholders need education
Complex B2B purchases involve 6-10 decision-makers on average. Not everyone understands the problem or the solution landscape. An RFI becomes an internal education tool: "Here are 10 vendor responses explaining different approaches. Now we can align on what we actually need."
So what are buyers really evaluating when they read your RFI response? Three things:
- Can you educate us? Do you demonstrate domain expertise, or are you just listing features?
- Do you understand our industry? Do you reference relevant examples and use cases?
- Are you a credible player? Are you worth inviting to the RFP stage, or should we focus on more established alternatives?
Here's the strategic insight most sellers miss: RFI responses shape the RFP that follows. If you educate the buyer about capabilities they didn't know to look for (capabilities your product excels at), you'll see those exact capabilities show up as "required" in the RFP. You're not just answering questions; you're planting seeds.
When to use an RFI
Buyers should use RFIs during early-stage exploration when they lack clarity on solutions or vendors. Sellers should respond when they can influence requirements, match the buyer's profile, and afford a long sales cycle. Let's break this down for both sides.
For buyers: When to use an RFI
Use an RFI when:
- You're exploring a new category or solution type. You've identified a problem but don't know what solutions exist. Example: Your support team is overwhelmed with repetitive questions, but you don't know whether you need a chatbot, a knowledge base, or an AI agent.
- You need to narrow down 50+ vendors to 5-10 finalists. The market is crowded, and you need a structured way to filter vendors before investing time in demos and proposals.
- Your team lacks domain expertise and needs vendor education. You're entering unfamiliar territory (AI, cybersecurity, compliance automation) and need vendors to explain what's possible and what questions to ask.
- Budget approval requires competitive landscape analysis. Your CFO asks, "How much should this cost?" and you don't have an answer. An RFI gives you the market data to build a credible business case.
For sellers: When to respond to an RFI
Not all RFIs deserve a response. Here's when toe respond to them:
- The buyer profile matches your ICP (Ideal Customer Profile). Check deal size, industry, company stage, and use case. If this buyer wouldn't be a good customer even if they said yes, don't waste time on the RFI.
- You have a competitive advantage in shaping requirements. Do you have unique capabilities that competitors lack? If so, an RFI is your chance to educate the buyer about why those capabilities matter, before the RFP is written.
- You can afford a 6-12 month sales cycle. RFIs are early-stage. Most won't convert to RFPs for 6+ months. If you need deals to close this quarter, focus elsewhere.
- The RFI signals executive-level sponsorship. Check the sender's title, who's CC'd, and whether they mention budget or timelines. An RFI from a VP with the CFO CC'd is worth responding to. An RFI from an analyst with no context is not.
Walk away from RFIs that show these warning signs:
- Generic RFIs sent to 100+ vendors. If the questions are copy-pasted boilerplate with no context about the buyer's problem, they're not serious. They're checking a procurement box.
- Requests from junior analysts with no budget authority. If the sender is a junior analyst and there's no mention of executive sponsorship, this is a research project, not a buying process.
- Vague problem statements. If the RFI says "we're exploring options" without explaining why now or what triggered the search, the buyer isn't committed. They're browsing.
I've seen sales teams waste 40 hours on an RFI response, only to learn the buyer had already chosen a vendor. They were just checking a box for procurement compliance. Now, before investing significant time, I ask the buyer directly: "What's driving this evaluation? What's your timeline? Who's involved in the decision?" If they can't or won't answer, I politely decline and offer to reconnect when they're further along.
RFI vs. RFP vs. RFQ: Understanding the differences
The key difference isn't the acronym. It's buyer intent. RFIs explore possibilities, RFPs evaluate solutions, and RFQs negotiate pricing. Confusing them costs you time, resources, and deals. Let me give you the decision matrix that clarifies when buyers use each document type and what they expect from vendors.
Here's what each stage means in practice:
RFI: The buyer is exploring
They don't have detailed requirements yet. They're asking, "What solutions exist? What should we even be looking for?" Your response should educate them, demonstrate expertise, and position your unique capabilities. Don't overshare proprietary details or pricing. The goal is to make the shortlist and influence the RFP criteria.
RFP: The buyer is evaluating
They know what they need (or think they do). They've defined requirements, timelines, and evaluation criteria. They're asking, "How will you specifically solve our problem?" Your response should be detailed, customized, and competitive. This is where you invest the 40-80 hours: detailed solution design, pricing, implementation plans, and proof points. The goal is to win the deal.
RFQ: The buyer is negotiating
They've already decided on the vendor and solution. Now they want your best price. This is a transactional document, often used in commodity purchases or when the buyer has already chosen you but needs competitive quotes for procurement compliance. Your response should be a clean, itemized price list. The goal is to close at your target margin without leaving money on the table.
For a deeper dive into these differences and when to use each document type, check out our comprehensive guide: RFI vs. RFP vs. RFQ: Key Differences Explained.
Common mistake: Treating an RFI like an RFP
Here's where most sellers go wrong: they receive an RFI and respond with a 30-page proposal, detailed pricing, custom solution designs, and legal terms. They've just invested 40 hours in a buyer who's 12 months from a decision.
Why is this a mistake? Two reasons:
- You're giving away your IP too early. Detailed proposals reveal your methodology, approach, and differentiators, which the buyer can use to educate your competitors or build an internal solution.
- You're over-investing in low-probability opportunities. Only 5-10% of RFIs convert to RFPs you're invited to. Spending 40 hours on every RFI means you're burning resources on opportunities that won't materialize.
Strategic insight: Shape the RFP
The best RFI responses educate buyers on what questions to ask in the RFP (questions your product is uniquely positioned to answer).
For example, if your platform has AI-powered content search that competitors lack, your RFI response might say: "One consideration for your RFP evaluation: How does each vendor ensure knowledge stays current as your product evolves? Our AI-powered sync automatically updates responses when source documents change, ensuring your team never sends outdated information."
Now the buyer thinks, "That's a good point. We should ask about content freshness in the RFP." And guess which vendor is already positioned to answer that question?
Examples: What to include in an RFI response
A winning RFI response balances brevity with strategic positioning. Answer the questions asked, demonstrate domain expertise, and plant seeds for requirements that favor your solution. Most RFI responses fail because they're either too generic (a copy-pasted brochure) or too detailed (a full proposal the buyer didn't ask for). Here are the essential components of a strong RFI response.
1. Company overview (2-3 sentences max)
Who you are, what industries you serve, and your key differentiator. This isn't your full company history. It's a positioning statement.
Example: "Realm is an AI platform that automates knowledge work for revenue teams. We serve 200+ B2B companies including [Industry Leader] and [Recognizable Brand], helping them respond to RFPs, RFIs, and security questionnaires 5x faster while improving response quality."
2. Capability summary (1 paragraph per major capability)
High-level description of what your solution does, not how it works. Focus on outcomes, not features.
Weak example: "Our platform uses natural language processing and machine learning algorithms to process documents."
Strong example: "Our platform automatically answers RFI questions by searching across your entire knowledge base (product docs, past proposals, case studies, technical documentation) and drafts responses in seconds. This reduces RFI response time from 20 hours to 4 hours, allowing your team to respond to 3x more opportunities without adding headcount."
See the difference? The strong example leads with the outcome (3x more opportunities) and the business impact (no additional headcount), not the technology.
3. Relevant experience (2-3 customer examples)
Include customer examples that match the buyer's industry, company size, or use case. Use specific metrics where possible.
Example: "We work with mid-market SaaS companies like yours. One customer, a $50M ARR security platform, used Realm to reduce their RFP response time by 60% while increasing win rates by 15%. The key was centralizing their knowledge base and automating first-draft responses, allowing their sales engineers to focus on customization and strategy rather than searching for answers."
4. Implementation approach (high-level methodology)
General timeline, resources required, and success factors. Don't include detailed project plans. Save that for the RFP.
Example: "Typical implementation takes 2-4 weeks and includes: (1) Knowledge base integration, (2) Content review and optimization, (3) Team training, (4) Pilot with 2-3 RFIs. Customers are typically self-sufficient within 30 days. The key success factor is having a content owner who can review and approve AI-generated responses during the pilot phase."
5. Differentiators (3-5 unique capabilities)
What can you do that competitors can't? Focus on capabilities that matter to this specific buyer.
Example differentiators:
- "We're the only platform that connects to your CRM to automatically pull customer-specific data into responses (customer name, industry, contract details), ensuring every RFI is personalized without manual data entry."
- "Our AI learns from every response you approve, continuously improving accuracy and adapting to your company's voice and positioning."
- "We maintain an audit trail of every answer source, so you can verify accuracy and comply with governance requirements."
6. Next steps (clear call-to-action)
Tell the buyer what happens next. Make it easy to engage further.
Example: "If you'd like to see Realm in action, we offer a 30-minute demo tailored to your use case. Alternatively, we can provide a free pilot: send us one of your recent RFIs, and we'll show you how Realm would automate the response. Reply to this email or book time on my calendar: [link]."
Example RFI question & response
Let me show you the difference between a weak response and a strong response to a common RFI question.
RFI question
"What communication channels does your customer engagement platform support?"
Weak response
"Our platform supports email, SMS, phone, chat, web, and social media channels including Facebook, Twitter, and LinkedIn."
Strong response
"We support 12+ channels including email, SMS, WhatsApp, web chat, voice, and social media. More importantly, our AI-powered routing automatically selects the channel with the highest engagement rate for each recipient based on historical behavior. For example, if a customer typically ignores emails but responds to SMS within 2 hours, the system will prioritize SMS for urgent communications. Our customers see an average 34% increase in response rates after implementing intelligent channel routing. One healthcare customer reduced appointment no-shows by 28% by reaching patients on their preferred channels."
Notice what the strong response does:
- Answers the question (lists channels)
- Introduces a differentiator (AI-powered routing)
- Provides proof (34% increase, 28% reduction)
- Includes a relevant customer example
- Focuses on the outcome the buyer actually cares about (engagement, not just channel support)
Strategic tip: Use RFI responses to introduce concepts buyers should care about
Don't just answer the questions asked. Gently educate buyers on questions they should be asking.
Example: "One consideration you may want to include in your RFP evaluation: How does each vendor handle data residency and compliance for international deployments? Our platform allows you to specify data storage locations per region (US, EU, APAC) to comply with GDPR, CCPA, and other regional regulations. This becomes critical if you have customers in regulated industries or international markets."
Now the buyer thinks, "Oh, we should ask about data residency in the RFP." And you've just introduced a requirement that favors your solution and may eliminate competitors.
What to avoid in RFI responses
- Detailed pricing: Unless explicitly requested, provide ranges or typical engagement costs, not itemized quotes
- Proprietary methodologies: Save your secret sauce for the RFP stage
- Legal terms or contracts: RFIs aren't binding; don't introduce legal complexity
- Disparaging competitors: Focus on your strengths, not others' weaknesses
- Marketing fluff: Skip the "industry-leading" and "world-class" adjectives. Show, don't tell
Remember: the goal of an RFI response isn't to win the deal. It's to make the shortlist, demonstrate expertise, and shape the RFP criteria in your favor.
RFI template and best practices
A structured RFI template ensures you gather the right information while making it easy for vendors to respond, increasing response quality and making comparisons straightforward.
Whether you're a buyer issuing an RFI or a seller building reusable response content, having a template saves time and improves outcomes.
RFI template structure for buyers
Here's the structure that generates high-quality vendor responses:
1. Background & Objectives (1 paragraph)
Explain what problem you're solving and why. Give vendors context so they can tailor their responses.
Example: "We're a mid-market B2B SaaS company experiencing 50% YoY growth. Our sales engineering team spends 60% of their time responding to RFPs and technical questionnaires, which is limiting our ability to support new deals. We're exploring solutions to automate and streamline proposal responses while maintaining quality and accuracy."
2. Company Information
Briefly describe your organization so vendors can assess fit.
Include: Industry, company size, number of employees, key products/services, geographic footprint
3. Scope & Requirements (high-level)
What are you looking for at a high level? Don't list detailed specs. Save that for the RFP.
Example: "We're seeking a platform that can: (1) Automate RFP response drafting by searching our knowledge base, (2) Integrate with our existing CRM and documentation systems, (3) Support collaboration between sales, sales engineering, and subject matter experts, (4) Provide analytics on response effectiveness and win rates."
4. Information Requested (specific questions organized by category)
This is the core of your RFI. Organize questions into logical categories and limit to 15-20 questions total.
Example categories:
- Product capabilities and features
- Industry experience and customer examples
- Implementation and onboarding
- Integration with existing systems
- Support and training
- Company background and stability
- Ballpark pricing and typical engagement models
5. Evaluation Criteria
How will you assess responses? Being transparent helps vendors focus on what matters most to you.
Example: "We'll evaluate responses based on: (1) Relevant experience in B2B SaaS, (2) Ease of integration with Salesforce and Confluence, (3) Time-to-value (speed of implementation), (4) AI capabilities for answer accuracy, (5) Pricing fit within our budget range of $X-$Y annually."
6. Timeline & Logistics
Set clear expectations for response deadline, format, and next steps.
Example: "Please submit responses by [Date] via email to [Email]. Use the question numbering in this document to organize your responses. We'll review all submissions by [Date] and invite 5-7 vendors to participate in a more detailed RFP process beginning [Month]."
7. Contact Information
Who should vendors reach with questions?
Include: Primary contact name, title, email, and phone
Best practices for buyers issuing RFIs
- Limit questions to 15-20 maximum. RFIs aren't RFPs. If you're asking 50+ questions, you're asking for an RFP-level response, and vendors will either spend 40 hours responding (which limits who can participate) or send generic answers.
- Ask open-ended questions that reveal problem-solving approach. Instead of "Do you support SSO?" ask "How does your platform handle authentication for enterprise customers with complex security requirements?" The second question reveals how the vendor thinks about the problem, not just whether they check a box.
- Include your timeline so vendors can self-select. If you're 12 months from a decision, say so. It helps vendors decide whether to invest time in a response. It also signals seriousness. Buyers with clear timelines are more likely to convert.
- Provide context about what triggered this search. Why are you exploring this now? What changed? Context helps vendors understand your urgency and tailor their responses. "We're exploring AI solutions because our sales team is overwhelmed with RFP volume" is much more valuable than "We're evaluating options."
- Be clear if this is a compliant procurement process. If you're a government agency or public company with formal procurement requirements, say so upfront. It changes how vendors approach the response.
Best practices for sellers responding to RFIs
- Respond within 3-5 days to signal responsiveness. RFIs rarely have urgent deadlines, but fast responses demonstrate that you're organized and capable of supporting the buyer if they become a customer.
- Match the buyer's format exactly. If they number questions 1-20, number your responses 1-20. If they request a PDF, send a PDF. This makes comparison easier for the buyer and shows attention to detail.
- Lead with outcomes and proof points, not features. Don't say "We have AI-powered search." Say "Our AI-powered search reduces RFI response time by 75%, allowing customers to respond to 4x more opportunities with the same team size."
- Use the RFI to ask clarifying questions. A thoughtful question demonstrates consultative approach and helps you tailor your response. "You mentioned integrating with your CRM. Are you using Salesforce, HubSpot, or another system? This will help us provide specific integration details."
- Track your RFI responses in your CRM. Tag opportunities as "RFI-responded" and set follow-up reminders for 30, 60, and 90 days. Most RFI buyers go quiet after receiving responses, but they resurface 3-6 months later when they're ready for the RFP. If you haven't stayed in touch, you'll miss the invitation.
Common RFI mistakes (and how to avoid them)
Most teams lose RFI opportunities before they start by misunderstanding buyer intent, over-investing in low-probability deals, or sending generic responses that blend into the noise. Let me walk you through the five mistakes I see most often, and how to fix them.
Mistake #1: Treating every RFI equally
The mistake: A sales engineer receives three RFIs in the same week and treats them all as equal priority. They spend 15 hours responding to each one, totaling 45 hours, despite the fact that one RFI is from a Fortune 500 company with clear budget and timeline, another is from a mid-market company exploring options, and the third is from an analyst at a startup with no decision-making authority.
Why it's wrong: Not all RFIs are created equal. Some represent serious buyer intent with near-term potential. Others are fishing expeditions that will never convert. Treating them equally means you're spreading resources too thin.
The fix: Qualify RFIs using these criteria before you invest time:
- Does the sender have budget authority? Check their title and who's CC'd on the email. VP-level or executive sponsorship signals seriousness.
- Is the timeline realistic? If they say "exploring options for next year," that's fine, but recognize it's a 12-month sales cycle.
- Do we have a competitive advantage? If the RFI asks for capabilities we don't have, or emphasizes requirements where competitors are stronger, decline politely.
- Can we afford a long sales cycle? RFIs are early-stage. If you need revenue this quarter, focus elsewhere.
Create a simple scoring system: High priority (respond within 3 days, invest 15-20 hours), Medium priority (respond within 1 week, invest 5-10 hours with templated content), Low priority (politely decline or send standard collateral).
Mistake #2: Sending a generic brochure
The mistake: A vendor receives an RFI from a healthcare company exploring patient engagement platforms. Their response reads like a generic marketing brochure: "We're the leading provider of innovative solutions for forward-thinking enterprises. Our world-class platform delivers best-in-class results through cutting-edge technology."
Why it's wrong: Buyers receive 20-50 RFI responses. Generic "here's what we do" answers get ignored because they don't demonstrate understanding of the buyer's specific context or needs.
The fix: Reference the buyer's specific context in your response, even if the RFI questions are generic.
Example: "You mentioned in your background section that your support team is overwhelmed with repetitive questions about appointment scheduling and insurance verification. Here's how our AI-powered knowledge assistant handles that specific use case: [tailored answer with relevant healthcare customer example]."
This takes 15 extra minutes but demonstrates you actually read their RFI and understand their problem. It moves you from "generic vendor #17" to "vendor who gets us."
Mistake #3: Oversharing proprietary information
The mistake: A vendor receives an RFI and sends a detailed response including proprietary algorithms, technical architecture diagrams, detailed pricing models, implementation playbooks, and competitive positioning documents.
Why it's wrong: Some buyers issue RFIs to educate incumbents or build internal solutions. When you overshare, you're giving away your intellectual property to buyers who may never engage further.
The fix: Share what you do and the outcomes you deliver, not how you do it. Save technical architecture, proprietary methodologies, and detailed pricing for the RFP stage when there's mutual commitment to a deeper evaluation.
Example of appropriate detail for an RFI:
"Our AI improves answer accuracy by learning from approved responses, reducing review time by 50%."
NOT: "Our AI uses a proprietary ensemble model combining BERT transformers with custom fine-tuning on domain-specific corpora, deployed via a microservices architecture with Redis caching and PostgreSQL vector storage."
The first answer demonstrates value without revealing your secret sauce. The second tells competitors exactly how to copy you.
Mistake #4: Ignoring the RFI format or deadline
The mistake: The RFI says "Please number your responses to match our questions (1-20) and submit as a PDF by March 15." The vendor submits a Word doc with answers in a different order on March 18.
Why it's wrong: Buyers often disqualify responses that don't follow instructions. Why? Because following instructions signals that you'll be easy to work with as a vendor. Ignoring instructions signals the opposite.
The fix: Read the instructions twice. Use the exact format requested. Submit before the deadline (aim for 1-2 days early).
If the buyer asks for a specific format and it doesn't work for you (e.g., they want an Excel spreadsheet but your answers don't fit that format), ask permission to submit in a different format: "We'd like to provide comprehensive answers to your questions, which may be better suited to a PDF document. Would that be acceptable, or do you require the Excel format?"
Mistake #5: Failing to follow up
The mistake: A vendor submits a strong RFI response in February. By April, they haven't heard from the buyer, so they assume the opportunity is dead. In June, the buyer issues an RFP, but they only invite vendors who stayed engaged. The vendor who submitted a great RFI in February never even hears about the RFP.
Why it's wrong: 70% of RFI responses go into a black hole. Buyers get busy, priorities shift, budgets freeze, stakeholders leave. But many of these opportunities re-emerge 3-12 months later. If you haven't stayed in touch, you won't get the RFP invitation.
The fix: Build a systematic follow-up process:
- Week 2: "Just confirming you received our RFI response. Happy to answer any follow-up questions."
- Week 4: "Checking in on your evaluation timeline. Has anything changed on your end?"
- Week 12: "Wanted to share a relevant case study that might interest you: [customer similar to them]."
- Ongoing: Add the contact to your nurture campaign. Send helpful content (not sales pitches) every 4-6 weeks.
Track RFI responses in your CRM with a tag like "RFI-submitted" and set reminders for follow-up. When the buyer re-engages in 6 months, you'll know the backstory.
Automate RFI responses with Realm
Realm is designed to streamline your entire response process, including RFIs, RFPs, RFQs, and security questionnaires such as VSQs, CAIQs, SIGs, DDQs. By connecting directly to your company's existing knowledge base, Realm's AI agents can automate up to 80% of your response drafting, allowing your team to focus on review and strategic customization.
7 steps to automate RFI responses
Realm provides a centralized platform for managing the entire bidding process, from initial upload to final submission.
1. Upload the questionnaire
Start by uploading the unfilled RFI file directly to the Realm platform. Realm supports diverse file formats, including Excel, PDF, and Word.
2. Analysis and parsing
Realm automatically analyzes the document, recognizing which questions, columns, or tables require a response. The system breaks the RFI down into manageable sections for processing.
3. Choose your AI Agent
You can set up specialized AI Agents for different question types, product verticals, or customer segments. Each Agent can be grounded in a specific subset of your knowledge base to ensure the most relevant information is used.
4. Automate drafting
Realm drafts comprehensive, accurate, and compelling responses in your company’s language and tone of voice. Every answer is grounded in your company’s verified knowledge base, including past winning proposals. To ensure accuracy and easy verification, Realm cites the sources it references for every generated answer. This process prevents AI "hallucinations" by only using your approved, factual content.
5. Review and collaborate
AI drafts are complete in minutes, you can seamlessly review and finalize the responses with your team. You can manually edit the answer, approve it if it's final, or write a follow-up prompt asking the AI for edits or additions. You can also sssign specific questions or sections to subject-matter experts (SMEs) for finalization.
6. Export and submit
Once all answers have been reviewed and approved, you can export the finalized document. The exported file will maintain the exact structure and formatting of the original RFI spreadsheet or document.
7. Repurpose winning responses
After the RFI is completed and approved, the finalized responses are automatically added back into your knowledge base. This ensures that future AI Agents will automatically draw on your latest winning answers, continually improving response quality and consistency.
Final thoughts on RFIs
RFIs are a necessary step in enterprise procurement, but they don't have to be a time sink. Treat them as strategic opportunities to educate buyers, shape requirements, and build relationships long before the RFP stage.
Let me leave you with the key principles to remember:
RFIs are market research tools, not buying signals. Set your expectations accordingly. Most RFIs don't convert to near-term revenue. They're about positioning yourself for the RFP that follows 6-12 months later.
The goal isn't to respond to every RFI. It's to identify and win the right ones. Build a qualification framework. Decline politely when the fit isn't there. Focus your resources on opportunities where you have competitive advantage and the buyer shows serious intent. Leverage AI to automate first drafts to free your team to focus on strategic customization that actually differentiates your response.
Use RFIs to demonstrate domain expertise and plant seeds for requirements that favor your solution. Don't just answer the questions asked. Gently educate buyers on questions they should be asking. The best RFI responses shape the RFP criteria in your favor.
Follow up religiously. Most RFI opportunities don't convert immediately, but they warm up over 6-12 months. Build a systematic follow-up process and track RFI responses in your CRM. When the buyer re-engages, you want to be top of mind.
If your team is drowning in RFIs, RFPs, and security questionnaires, Realm can help. Our AI agents automate up to 80% of response drafting by connecting to your existing knowledge base including product docs, past proposals, customer case studies, and security documentation.
The best RFI strategy isn't about speed. It's about positioning. Every response should move you closer to becoming the obvious choice when the RFP arrives. And if you've done your job well, the RFP will be written with your solution in mind.
FAQ about RFIs
Let me answer the most common questions we hear about RFIs from both buyers and sellers.
What does RFI stand for?
RFI stands for Request for Information. It's a formal document buyers use to gather preliminary information from potential vendors during the early stages of procurement, before they've defined detailed requirements or committed to a purchase.
When should I use an RFI instead of an RFP?
Use an RFI when you're still exploring options and don't have detailed requirements. For example, if you're investigating a new software category and want to understand what solutions exist, who the key vendors are, and what capabilities are standard versus differentiated. Use an RFP when you know what you need and want vendors to propose specific solutions with detailed pricing and implementation plans.
How long should an RFI response be?
3-5 pages for most B2B contexts. Prioritize clarity over comprehensiveness. Your goal is to answer the questions asked, demonstrate expertise, and make the shortlist, not to overwhelm the buyer with information. If the buyer wants more detail, they'll ask for it in the RFP stage.
Should I include pricing in my RFI response?
Only if explicitly requested. Most RFIs ask for "ballpark pricing" or "typical engagement costs." In those cases, provide ranges or example scenarios (e.g., "For a company your size, typical annual investment ranges from $50K-$100K depending on user count and features"). Avoid detailed line-item quotes, which belong in the RFP stage.
How many vendors should I send an RFI to?
Aim for 8-15 vendors. Fewer than 8 limits your options and may not give you a complete picture of the market. More than 15 makes comparison unmanageable (you'll spend 20+ hours just reviewing responses). If you find 30 potential vendors, use other screening criteria (company size, customer reviews, analyst rankings) to narrow to 10-12 before sending RFIs.
What's a reasonable RFI response deadline?
1-2 weeks for straightforward RFIs with 10-15 questions. 3-4 weeks if you're asking complex questions, requesting detailed case studies, or sending during holiday periods. Be realistic: vendors need time to coordinate input from multiple teams (product, sales, customer success, legal). Tight deadlines (3-5 days) signal urgency but may reduce the quality of responses or cause some qualified vendors to decline.
How do I know if an RFI is worth responding to?
Ask the buyer three qualifying questions before investing time: (1) What's your timeline for making a decision? (2) What's driving this evaluation (what problem are you solving)? (3) Do you have a budget range in mind? If they can answer these questions clearly, it's likely a serious opportunity. If they're vague or unwilling to share context, it may not be qualified.
Can I ask questions before responding to an RFI?
Absolutely, and you should. Thoughtful questions demonstrate expertise and help you tailor your response. Examples: "You mentioned integrating with your CRM. Which system are you using?" "Are you evaluating solutions for a specific division or enterprise-wide deployment?" "Is this exploration tied to a specific initiative or budget cycle?" Most buyers welcome clarifying questions and respect vendors who invest time to understand their needs.