Glossary
RFP &
procurement, defined.
Whether you're navigating your first RFP or streamlining complex proposal workflows, this glossary covers essential terms across RFPs, RFIs, RFQs, security questionnaires, presales processes, and strategic response automation.
RFx fundamentals
The requests
RFI (Request for Information)
A preliminary step in the procurement process used to gather general information from potential vendors. RFIs help buyers better understand the market before issuing an RFP.
RFQ (Request for Quotation)
A procurement document used when price is the primary decision factor. Unlike RFPs, RFQs focus on getting specific pricing for well-defined products or services, with less emphasis on vendor capabilities or approach.
RFP (Request for Proposal)
A formal document organizations use to request bids or proposals from vendors. RFPs outline project requirements and evaluation criteria, helping buyers compare solutions side-by-side.
RFP process
How deals get won.
Go/No-Go Decision
An internal checkpoint to decide whether to pursue a potential RFP opportunity. It typically considers fit, resources, timeline, and likelihood of winning.
Sample RFP Response
A mock or real-world example of a completed RFP submission. Often used for training or to streamline future proposals by templatizing high-performing answers.
RFP Win Rate
The percentage of RFPs you win out of those submitted. It reflects proposal quality, strategic alignment, and sales-readiness. Higher win rates often result from refined qualification processes and strong presales collaboration.
RFP Evaluation
The process of reviewing and scoring submitted proposals based on pre-defined criteria like cost, fit, compliance, and vendor experience.
RFP Cover Letter
A short, formal letter that introduces your proposal, summarizes your company’s value, and sets the tone for evaluators. It’s your first impression—often the only part read in full—so it should clearly state your intent and highlight key differentiators.
Security & compliance
The questionnaires.
Security Questionnaires
A structured set of questions used to assess a vendor’s security, privacy, and compliance posture—often appearing in late-stage sales cycles. Streamlining responses is critical to accelerating InfoSec reviews and avoiding deal delays.
Due Diligence Questionnaire (DDQ)
A questionnaire that evaluates operational, legal, and security controls before a deal closes—commonly required by enterprises, especially in regulated industries. Often includes repetitive asks; automation helps reduce response fatigue.
Security Questionnaire Automation
Software tools that streamline the process of completing, managing, and reusing answers to security questionnaires.
SOC 2 (Service Organization Control 2)
A widely recognized compliance standard developed by the AICPA that evaluates how a company manages customer data based on five trust principles: security, availability, processing integrity, confidentiality, and privacy. SOC 2 certification demonstrates a vendor's commitment to maintaining strong data protection and operational controls.
Proposal management & procurement
The tooling.
Request for Proposal (RFP) Tool
A platform or software solution designed to help buyers issue RFPs or vendors respond more effectively. Includes workflow management, templates, and collaboration features.
Proposal Automation Software
A category of tools that help sales and presales teams quickly create, manage, and customize proposals using templates, content libraries, and AI suggestions.
Sales & presales
The go-to-market.
Sales Enablement Software
Platforms that equip sales teams with the content, data, and tools needed to engage prospects effectively. Sales enablement software centralizes assets like decks, one-pagers, and case studies, often integrating analytics and AI recommendations to improve buyer interactions and close rates.
Presales Enablement
The tools, content, and workflows that equip presales engineers and solution consultants to deliver high-impact demos, handle technical evaluations, and close deals—faster and more effectively.
Presales Automation
Technology that streamlines tasks performed by presales or solutions engineering teams. Presales automation tools help qualify opportunities, prepare tailored demos, and generate technical responses more efficiently — reducing manual effort before the proposal stage.
Deal Desk Automation
The use of workflow software to manage deal approvals, pricing, and contract reviews across sales, finance, and legal teams. Deal desk automation ensures accuracy, speeds up approval cycles, and improves visibility into deal health and compliance.
Glossary FAQ
Common questions.
What's the difference between an RFI, RFP, and RFQ?
RFIs explore capabilities, RFPs evaluate solutions, and RFQs compare pricing. Start with an RFI, then progress to an RFP or RFQ as requirements solidify.
How does automation improve response quality and speed?
Automation centralizes approved answers, routes tasks to SMEs, and generates first drafts so teams spend time on tailoring, not on copy and pasting.
Do we still need SME reviews if we use AI?
Yes. AI accelerates drafting and retrieval, while SMEs validate accuracy, nuance, and compliance before submission.
How do security questionnaires and DDQs fit into the RFx process?
They typically run alongside or after RFPs to validate security, privacy, and operational controls for procurement and risk teams.
Which tools does Iris integrate with?
Iris connects with common GTM and security stacks including Slack, Salesforce, HubSpot, Drata, SharePoint, Google Drive, Gong, and a browser extension that works on any portal.
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