What is RFP (Request for Proposal)?
RFP (Request for Proposal) is a core concept in modern B2B revenue. Here is a clear, accurate definition, why it matters, and how Ardovo handles it.
Short answer
An RFP, or request for proposal, is a formal document a buyer issues to invite vendors to submit detailed proposals for a purchase. It lists requirements, evaluation criteria, and timelines, and vendors respond with their solution, pricing, and qualifications. RFPs are common in enterprise and public-sector procurement.
Key takeaways
- Invites vendors to submit detailed, comparable proposals.
- Specifies requirements, criteria, and a response deadline.
- Favors sellers who shaped the requirements early.
- Common in enterprise and public-sector buying.
Why it matters
RFPs bring rigor to big purchases, but responding is costly. Reps who win them usually influenced the requirements before the RFP was written. A cold RFP where you had no prior contact often means you are validating a pre-chosen vendor.
How Ardovo handles it
Ardovo tracks RFP deals with requirements, deadlines, and evaluation criteria on the record and stores proposal content for reuse. Rook helps assemble and tailor responses and flags an RFP with no earlier engagement.
Frequently asked questions
What is the difference between an RFP and an RFI?
An RFI gathers general information to shortlist vendors early. An RFP comes later and asks shortlisted vendors for detailed proposals and pricing. RFI explores; RFP selects.
Should you respond to every RFP?
No. Responding is expensive, and a cold RFP where you had no prior contact often means the buyer already favors someone else. Qualify hard before investing.