When organizations are in need of software, they can craft an RFP to compile all the information they need from the vendors in a standardized way. Once the RFP template is created, they contact the vendors and invite them to submit an RFP proposal – which is basically filling in the template. Through this process, the tool analysis is much simpler since the information is submitted according to fixed categories, allowing better comparison.
In this case, an RFP in Asset Management is exactly that, a template to hand over to ITAM vendors. Typically, it outlines the project's requirements, scope, timeline, and evaluation criteria.
If you need to evaluate and compare Asset Management tools or services, an RFP establishes a common ground for assessing vendors, standardizing the variations in their offerings, functionalities, or terminologies.
Using an RFP also promotes fairness, transparency, and consistency in the evaluation process, ensuring that organizations can make well-informed decisions based on objective criteria.  Basically, it helps organizations mitigate risks, optimize costs, and ensure that the selected solution aligns with their IT environment, workflows, and business processes.