A Request for Proposal (RFP) is a formal document a business sends to potential vendors describing a need and asking for detailed proposals. Related: RFQ (Request for Quote) for simpler, price-focused inquiries, and RFI (Request for Information) for early-stage exploration.
For customer portal software evaluation, RFPs typically cover: required features, integration requirements, security and compliance posture, pricing model, implementation timeline, references, and total cost of ownership. Vendor portals often include RFP response workflows, letting suppliers respond to RFPs through the buyer’s portal directly.