Request for Proposals (RFP)

A Request for Proposals (RFP) is a formal document issued by an organization when it needs services, products, or projects completed. It explains what the organization requires and invites qualified vendors or contractors to submit proposals detailing how they would meet those needs, along with pricing and timelines. The RFP process helps the organization compare different options fairly and select the best partner based on factors like expertise, value, and approach. Essentially, an RFP is a structured way of finding and contracting the best solution through competition and transparency.