Why RFQs deserve more attention in purchasing

Formalized requests for quotation (RFQs) are one of the basic tools in purchasing—and are more relevant than ever in times of cost and efficiency pressures. However, a look at real-world practice shows that the RFQ process in purchasing is still neglected in many companies—it is too informal, not automated enough, and rarely used in a targeted manner. Recent studies by Deloitte and the Hackett Group show that despite their high relevance, RFQs often remain unused – especially in terms of digitalization, process speed, and savings potential. 

Why RFQs are rarely used systematically despite their low entry hurdle 

An RFQ (request for quotation) is a formal request for quotations sent to several suppliers, typically for clearly specified products or services. The aim is to obtain and evaluate comparable quotations efficiently.

Unlike a request for proposal (RFP), an RFQ focuses primarily on the price. This makes it ideal for standardized, digital processes.

However, this reveals a contradiction:

• Low entry barrier, but little automation: Despite being easy to implement, many RFQ processes remain informal – via email, Excel, or telephone.
• Lack of system integration: In many ERP systems such as SAP S/4HANA, RFQs are not intuitively mapped in purchasing. This results in workarounds.
• Low visibility: While RFPs (requests for proposal) are mostly used in large projects, RFQs often run quietly in the background – and then fade away.

The simpler a process appears, the more it tends to be “shortened” in everyday life. Many purchasing departments still use e-mail and Excel  – often due to time pressure or habit.

This is precisely what makes RFQs the “blind spot” in purchasing – and at the same time the greatest untapped lever for rapid gains in termos of efficiency.

What do the figures say about the importance of RFQs in purchasing?

The fact that the RFQ process is still neglected in many companies is not an isolated case – it can be proven by figures. Studies show how big the gap between expectations and reality in purchasing really is – and how much potential is lost due to a lack of structure and digitalization.

Three current benchmarks provide an insight:

👉 1. Deloitte Global Chief Procurement Officer Survey 2023

Who participated in the interview?

Around 350 CPOs and senior purchasing managers from over 40 countries, covering a wide range of industries – from manufacturing to the public sector.

Focus of the survey:

The survey analyzes current challenges and priorities in purchasing, particularly with regard to digitalization, process automation, the role of new technologies (including AI) in purchasing, as well as cost control and efficiency.

One focus is on the automation of procurement processes, including digital requests for quotation (RFQs), supplier communication, and comparison of quotations.

Highlights:

61% of purchasing managers say they want to increase automation in their procurement processes. They specifically mention digital request for quotation (RFQ), supplier communication, and price comparison.

The biggest obstacles are a lack of system integration and the high level of manual effort required for evaluation.

The RFQ process is increasingly recognized as a lever for improving efficiency and controlling costs – but in practice it often fails due to technical or organizational barriers.

Source: Deloitte (2023): Global CPO Survey.

👉 2 The Hackett Group: Procurement Key Issues Study 2024

Who participated in the interview?

Executives and purchasing managers worldwide (specific number of participants not disclosed), industry mix with a focus on Fortune 500 and large companies. The data is based on annual benchmarks and CPO agendas.

Focus of the survey:

Top priorities in purchasing in 2024: Effects of economic uncertainty, digital maturity of purchasing organizations, performance differences between “digital world class” companies and the average.

Highlights:

• Top performers save up to twice as much on their sourcing projects as the average. Operational processes with high inquiry volumes and recurring requirements benefit particularly – this is precisely where digitized RFQs act as efficiency boosters.
• 21% lower purchasing costs in digitally advanced companies.
• The costs per purchase order are reduced by up to 76%, thanks to automated price comparisons and standardized self-service models, among other things.

The request for quotation is not just a purchasing tool, but a strategic lever for cost reduction, transparency, and speed, especially when processes are mapped by using a system.

Source: Hackett Group (2024): Procurement Key Issues Study

👉 3 The Hackett Group and Ivalua: Procurement Agenda and Key Issues Study Results 2025

The follow-up survey in 2025 reveals similar patterns – in some respects even more clearly. The interviewed purchasing managers confirm that cost reduction will remain by far the most important priority in 2025.

Particularly striking: The proportion of companies that want to implement digital self-service processes in sourcing has risen again – primarily to relieve the burden on operational purchasing.

An interesting difference compared to last year's survey:

While in 2024 many companies still cited the lack of standardized processes as the main obstacle, in 2025 the focus seems to be increasingly on the business impact of digitalization – in other words, the question of what can be measurably improved when RFQ processes are set up digitally.

The figures not only prove the relevance of RFQs – they also show how much potential lies in clean, digital implementation.

Source: Hackett Group/Ivalua (2025): Procurement Agenda and Key Issues Study Results

Conclusion: RFQs deserve more attention – for less effort and better results.

The RFQ process is more than just an operational requirement. When set up correctly, it is a strategic tool for optimizing costs, ensuring quality, and accelerating procurement decisions. When digitalized correctly, it not only improves prices – it improves the entire procurement process.