What is an RFI for Learning Platforms/LMS?
RFI stands for Request for Information, and it is basically what it sounds like, a document to request information. Okay, that sounds too simple you might think, let's have a closer look.
The aim of making an RFI is to gain a better understanding of the market for Learning Platforms and LMS and what the different suppliers can offer in terms of solutions.
An RFI is often part of a standard business process where you collect written information regarding the capabilities of various suppliers to help you make a more informed decision in the buying process. It should describe the needs and requirements of what is to be purchased.
An RFI can be used in the process of requiring a new solution, may that be a new HR-, IT- or Learning Platform. Of course, what they should hold and what they look like will vary, but the aim will remain the same.
Do you need to make an RFI?
No. You do not need to make an RFI. However, it can be a good way to get more information on which you later can base your decision to move forward with a certain vendor.
To not spend unnecessary time on the wrong vendor, it's preferable to get the RFI done early in the buying process.
So, if you want to do an RFI – do it early on to save you time. It will help you narrow down your potential LMS vendors by eliminating the once that aren't a good match.
What to keep in mind when creating your RFI:
- Pick out the questions you feel you need (there are no specific numbers needed here)
- Be precise and specific to help you get the right information
- Provide information on YOUR business case/organization/company
- Include what you wish to accomplish and why you want an LMS. (What are your expectations for it and your L&D strategy? When do you want to be up and running? For what are you going to use the system? For how many? etc.)
- Don't get too technical here. Keep the IT department out of it for now
- Create a standard document
- Send the same document to all the suppliers you are considering
- Make it easy for suppliers to fill it out (in for example an excel sheet) (if it's easy to fill out, you will get it back faster and with the correct information)
By sending out the same document in the same format to the different vendors, it will be easier for you to get an overview of all the different answers.
Want to save time?
Download our ready-to-use RFI-excel template here 👇