With so many different asset management software available, figuring out which is the right fit for your needs is tough. You know you want a system to help you track your tools, technology, and equipment more effectively, but you need to figure out which software is best. In this post, I'll help you make your choice easier by sharing my insights on the best asset management software to optimize your tracking and maintenance processes and reduce operational costs.
What is Asset Management Software?
Asset management software is a tool that helps organizations track, manage, control, and report on all types of company assets to improve operational efficiency and reduce costs. They use barcodes or other identification methods to tag items individually, ensure accurate inventory records, and maintain stock levels proactively. They assist with full lifecycle asset management, from acquisition to use, maintenance, and eventual disposal.
Using asset management software provides numerous operational benefits, including improved asset utilization, proactive maintenance schedules, enhanced data accuracy and inventory management, and increased visibility for mobile assets. They also help organizations reduce overhead costs by avoiding unnecessary purchases and proactively scheduling maintenance before items break down unexpectedly.
Freshservice is an ITAM (IT asset management) platform that was built to help organizations reduce IT costs and improve asset lifespan through proactively scheduled maintenance. You can manage all phases of the typical asset lifecycle, including procurement, discovery, utilization, maintenance, and retirement. Their analytics also assist with forecasting future IT costs too.
Their software doubles as a configuration management database (CMDB) and can be used to track any sort of IT-related asset, including software, hardware, and software-as-a-service (SaaS) subscriptions. Asset managers will also appreciate the ability to automate common processes to save their IT teams time. Other useful features that come with Freshservice include inventory and purchase order management modules, relationship mapping tools, and an automated asset discovery tool that catalogs all assets in your network at any given time.
Their mobile app also allows end-users to scan barcodes or QR codes to track non-IT, fixed assets too, making physical inventory management easy on any Android or iOS mobile device.
Freshservice integrates with Freshdesk, Freshbooks, Bomgar, CloudWatch, Dropbox, Jira, Google Suite, Microsoft Teams, Slack, Quickbooks, Zapier, Zoom, and other systems.
Pricing for Freshservice’s asset management service starts at $49/user/month. You can also request a 21-day free trial through their website.
MediaValet is a cloud-based digital asset management (DAM) system that can help you manage, organize, and share your digital assets. This includes things like documents, images, videos, and more.
The software's AI can take over the manual workload of tagging and classifying your assets. It also has color recognition capabilities to help you source assets within a specific palette, and can read text within digital assets that can be used for search. Face recognition lets you group assets based on who's photographs are in them, and audio and video can be transcribed and searched, too.
A high level of security keeps your assets protected in the system. It has both SOC 2 compliance and data encryption to keep your files safe and secure. Not only that, but you can also set custom access permissions to keep assets available only to those who need access to them.
Pricing and a free demo of the platform are available upon request.
MaintainX is an equipment and asset management software system with a strong focus on tracking the operating status of physical assets and equipment. You can use their software to determine which equipment is active or inactive, track time between equipment failures, or create work orders for maintenance.
To reduce your overall downtime, they have a preventive maintenance autopilot feature that automatically schedules equipment servicing proactively, before you experience a breakdown. Users will also appreciate MaintainX’s detailed metrics, which cover everything from asset locations to maintenance records, and work history to time vs. cost reports.
MaintainX integrates with enterprise resource planning (ERP) systems like Infor, Microsoft Dynamics 365, Oracle and SAP, with data management programs like MachineMetrics, Tableau and Zapier, and other popular accounting and fleet management tools.
Pricing for MaintainX starts at $8.33/user/month. You can also request a free trial or free demo through their website. In addition, they have a basic freemium plan with limited features for small teams.
EZOfficeInventory is a web-based asset management platform that helps with equipment management, reservations, inventory stock assessments, and depreciation, calibration and tool management. Their software solution includes check in/out features, an asset availability calendar, and the ability to classify items into groups and sub-groups for better ease of use.
Their mobile apps for Android and iOS devices allow users to scan inventory barcodes, QR codes or RFID tags from any location, or you can use third-party label scanners too.
EZOfficeInventory integrates with Centrify, Dropbox, Google Suite, Jira Service Desk, Okta, OneDrive, OneLogin, PingIdentity, Zendesk, and Zendesk Sunshine. They also have an API that can support other custom software integrations too.
Pricing for EZOfficeInventory starts at $35/month for 250 assets and unlimited users. You can also request a 15-day free trial through their website.
Asset Panda is a flexible and versatile asset management system that works for any type of asset tracking, including fixed assets, IT assets, tool tracking, maintenance tracking, leased equipment, and reservations. Their system is used across a range of industries including government, healthcare, construction, education, and non-profit.
You can easily shape the software to meet your unique needs using their unlimited fields and configuration options. Their application also supports role-based permissions, giving you control over who can perform specific tasks within the system, or access sensitive data.
Advanced features within Asset Panda include asset kitting (bundling related equipment together to save time), a barcode generator (using custom barcodes or QR codes), and full asset lifecycle history (including repair tracking and forecasting). You can also attach supporting material to asset records, including photos, user manuals, or warranty documents. This helpful feature leads to faster troubleshooting and less reliance on paper documents with everything digitized in your system.
Another feature I appreciate is the ROI calculator available on their website. If you’re on the fence on whether you need asset tracking software or not, plug your numbers into their calculator to get a sense of how much money you could save per year.
Asset Panda integrates with Azure Active Directory, Lansweeper, Jira Service Management, Google Workspace, Meraki, Microsoft Active Directory, Microsoft Intune, Okta, OneLogin, Servicenow, Zendesk and other systems.
Asset Panda offers scalable pricing upon request, based on the number of assets you want to track. You can also request a free demo and a free quote through their website.
Asset Infinity is a cloud-based asset management system that tracks the entire lifecycle of your assets, from the initial purchase to transferring between locations, departments or users, all the way up to the eventual asset disposal. You can use a variety of tracking methods within their software, including barcodes, QR codes, or RFIDs and NFC tags.
This software also includes inventory management features to avoid stock-out issues and maintain full visibility and control over inventory levels. To simplify this process, you can even automate inventory re-orders based on specific stock level metrics, or set up alerts to notify specific team members whenever inventory levels dip down to predetermined levels.
If you need it, Asset Infinity also offers integrated modules for purchases and requests, as well as maintenance and helpdesk support requests. However, those modules are priced separately from their core asset management software.
Asset Infinity integrates with ERP software, many handheld devices from equipment providers like Zebra, Honeywell and Chainway, and single sign-on (SSO) applications like Azure Active Directory, Okta, OneLogin, NetIQ and more.
Pricing for Asset Infinity starts at $130/month for up to 500 assets. You can also request a 14-day free trial or a free demo through their website.
AssetCloud, built by Wasp Barcode Technologies, helps organizations track the past, present, and future of all their business assets. Their asset tracking system is available in two configurations — self-hosted or cloud-hosted — and is currently used by some very well-known companies, including IBM, Lockheed Martin, Boeing, Verizon, Mercedes Benz, Cisco, Sony, Hewlett Packard, the US Navy, and the US Air Force. In addition to their asset tracking software, Wasp Barcode also sells supporting items such as scanners, label printers, and tags, or you can get everything in one go with their Complete System package.
Their software comes with 25 pre-built reports for inventory tracking, with the ability to create your own custom reports as needed too. Office operations teams will also appreciate the ability to set up trigger notifications, making sure that key people are always in the loop of any changes to your asset data.
A maintenance and work order system is also incorporated into their software. To maximize flexibility, work orders can be assigned to more than one person at a time, and can include multiple assets as well as multiple tasks. This is helpful as it reduces the need to create duplicate work orders for assets where your company owns multiple identical units. Asset inventory is also simplified using their multi-quantity asset feature that tracks identical groups of assets more efficiently.
Pricing for AssetCloud starts at $995/user/year. You can also request a free quote, a free demo, and a free trial through their website.
Tired of tracking all your assets in Excel spreadsheets, but don’t know where to start? AssetTiger’s user-friendly asset tracking software simplifies the start up process. You can upload your existing database directly to their interface, or use their mobile app to transform your phone into a digital scanner to log items individually.
I like the flexibility of AssetTiger’s system since you can add an unlimited number of users for no additional cost. This means you can make it accessible to everyone in your organization if you need to, rather than locking the information down in a silo. You can also set permissions at the individual user level, ensuring you still have control over who can perform certain tasks.
Organizations who ship a lot of gear between multiple locations or teams will appreciate their user-friendly check-in/check-out system that works easily from any mobile device. You can even reserve assets in advance to make sure they’re ready when you need them.
AssetTiger includes a whole host of predefined reports covering inventory status, depreciation, maintenance and usage, as well as the ability to create an unlimited number of custom reports, as needed. Their software was developed by MyAssetTag, one of the leading manufacturers for asset tags that are available in a wide variety of formats.
Pricing for AssetTiger starts at $120/year for up to 500 assets. They also have a free plan for tracking up to 250 assets if you purchase asset tags through them. If you’re interested, check out their 35 minute demo video on their website for more details.
HxGN EAM (formerly Infor EAM) is an enterprise asset management company with 30+ years of experience helping businesses transform their critical asset management practices to a more modern prescriptive maintenance approach. It was designed to improve the reliability and performance of equipment, fleets, facilities and infrastructure.
Key components within their software include work orders, case management features, integrated analytics, and risk management features. Their system also functions as an Asset Performance Management (APM) tool, and incorporates a range of applied learning technologies like artificial intelligence, machine learning, and internet of things (IoT) sensors. HxGN EAM also offers industry-specific versions of their EAM software that address the unique challenges of niche industries, including manufacturing, energy, healthcare, the public sector, and others.
HxGN EAM integrates with GIS devices, business intelligence software, and enterprise resource planning (ERP) systems.
HxGN EAM offers pricing details upon request.
InvGate Assets is an information technology (IT) and software asset management solution. Their software is used by several noteworthy organizations, including NASA, the U.S. Army, PricewaterhouseCoopers, and Toyota. Their platform helps organizations gain insight into how their IT and software assets are being used, whether they could be used more efficiently, or whether they could be harvested and re-purposed elsewhere. It can also be used to track physical IT hardware as well (e.g., computers, monitors, printers, etc.)
To prevent overspending on software licenses, InvGate Assets’ software license management tool uses a combination of software metering, usage pattern tracking, cost analysis, and license expiry tracking to determine if software can be allocated to groups of workstations, rather than individual workers' computers. This is a really helpful feature for managing expensive software that needs to be accessible to a group of workers who are only occasional users.
Another unique feature of InvGate Assets is their software deployment and remote desktop capabilities. This feature allows your IT teams to distribute software remotely to all computers connected to your network. With company computers spread all around the world these days, this tool simplifies the process for distributing software updates, managing incidents, and performing software uninstallations at scale.
InvGate Assets offers pricing upon request. You can request a quote, as well as a 30-day free trial or a free demo, through their website.
Asset management tool for software, hardware, SaaS subscriptions, and fixed assets
21-day free trial
Best with AI-powered categorization and search tools
Free demo available
|Custom pricing available upon request||Website|
Asset management solution for physical equipment, including maintenance requests and work orders
Free trial or free demo through their website
Affordable asset tracking software that allows for unlimited users, well-suited for small business.
15-day free trial
|From $35/month for 250 assets and unlimited users||Website|
Versatile asset tracking software with a wide range of use cases
Free demo and a free quote through their website
|Pricing upon request||Website|
Fixed asset management software that tracks the full asset lifecycle from purchase to disposal
14-day free trial
|From $130/month for up to 500 assets||Website|
Flexible asset management software with efficient tools for managing identical items
Request a free quote, a free demo, and a free trial
User-friendly asset management system with a mobile app for inventory scanning and check in/out
35 minute demo video on their website for more details
|From $120/year for up to 500 assets||Website|
Enterprise asset management tool designed to improve productivity and extend asset lifecycles through prescriptive maintenance
|Pricing upon request||Website|
Sophisticated software asset management tool for digital assets and IT hardware
30-day free trial
|Pricing upon request||Website|
- ManageEngine Mobile Device Manager Plus
Best for managing your corporate mobile devices at scale
Combined HR and IT software that simplifies device and app management for new employees
Asset management software with time-saving financial reports for asset depreciation and leased equipment
Enterprise asset management with advanced search capabilities, including OCR text recognition
- NinjaOne (formerly NinjaRMM)
Modern IT asset management software including IT service help desk capabilities like patching.
End-to-end IT asset management for the full asset lifecycle for hardware, software, and cloud-based subscriptions.
Physical asset maintenance management software that tracks repair histories, maintenance costs, parts consumption, and equipment hierarchies.
Complete IT asset management software covering hardware assets, software, subscriptions and licenses.
- MRI Software
Fixed asset management software with simplified workflows to track assets and access depreciation data.
Enterprise asset management platform designed to improve productivity, increase operational efficiency, and gain real-time performance-based asset data.
Wondering how I selected the best asset management software for this list? Here’s a summary of my evaluation criteria:
- User Interface (UI): I selected systems that have user-friendly interfaces with a gentle learning curve that won’t overcomplicate things.
- Usability: I choose systems that work across different operating systems, with mobile apps for any sort of device to make information accessible from anywhere.
- Software Integrations: I picked systems that offer integrations with other related software systems, such as enterprise resource planning (ERP) software and business intelligence platforms.
- Value for Price: I always prefer software with transparent pricing. Most of the software platforms in this list do provide baseline pricing, but some systems are modular in design, and only provide customized pricing based on the volume of assets you need to track.
Asset Management Software: Key Features
Here’s a summary of the main features you can expect to find within the best asset management software:
- Asset tagging & tracking: Individual item tagging using a combination of tracking methods, including barcodes, QR codes, bluetooth tracking, RFID (radio-frequency identification) and NFC (near field communication) tracking. Each asset is assigned a unique identifier using one of these methods, and has a corresponding entry in your inventory database.
- Asset lifecycle history: A comprehensive record of an asset’s lifespan covering procurement, installation, ongoing usage and maintenance, location transfers, lease or warranty information, and eventually decommissioning and disposal.
- Real-time inventory reporting: Once you’ve populated your system with all your inventory and assets, you can sit back and let the system summarize asset data updates for you as items are moved around between your employees.
- Maintenance module: An integrated solution for tracking and scheduling maintenance activities and work orders, often proactively or preventatively rather than only once something breaks down. Some systems can automatically schedule maintenance based on previous asset performance history.
- Role-based permissions: The ability to set permissions for individual users or groups of users, and reserve high-level system functions for key members only to maintain control over who can access sensitive information or run financial reports.
- Notifications and alerts: These are customizable system flags that you can set up, as needed, to notify key stakeholders of certain actions, such as maintenance requests, low stock levels, or items due for replacement.
- Mobile-friendly features: Since nearly everyone owns a smartphone these days, it’s crucial that asset management software is mobile accessible. Most software systems have mobile apps that transform mobile devices into digital scanners, enabling easy check-in and check-out of your assets from anywhere. This is a really important feature as you don’t want to get stuck with a system that only works with proprietary scanning technology, as that will only lead to higher implementation costs.
- Financial reporting tools: Depreciation is a normal part of the asset lifecycle and needs to be considered in order to aid proper forecasting efforts. The best systems include flexible depreciation modules, and other financial tools to help you determine where to draw the line between repairing equipment or replacing it entirely.
Are There Different Types of Asset Management Software?
Every organization will have their own unique needs when it comes to tracking their business assets. The best asset management software is flexible enough to accommodate multiple styles of asset tracking. However, depending on your industry or business set up, you may benefit from a specific type of asset management software.
Here are a few common niches when it comes to asset tracking software:
- Physical assets (also known as fixed assets): These are long-term, tangible assets that won’t be consumed immediately (e.g., company equipment, furniture, etc.).
- IT assets: This includes both physical computer equipment (e.g., hardware like computers, printers, scanners), and other less tangible assets (e.g., software licenses and subscriptions). Sometimes these specialty asset trackers are referred to as IT asset management software or ITAM software.
- Digital assets: Digital assets could be considered a sub-type of IT assets, but it can also relate to digital inventory, such as digital files, photos, fonts or other items that exist in the digital landscape only. This type of specialty software is often described as digital asset management software or DAM software.
- Enterprise-level assets: This involves asset management at a larger scale, including fixed assets like industrial equipment, fleets of vehicles or boats, facilities or operational plants, and other infrastructure. Software geared for this specific purpose is often referred to as enterprise asset management software or EAM software.
What are the Main Benefits of Asset Management Software?
It never hurts to arm yourself with information. Asset management software will consolidate your inventory, maintenance and other data into one place, making it easier to analyze and track over time.
Here are some of the main benefits you can expect to gain from using this type of asset tracking software:
- You’ll gain data to drive effective decision-making. Having consolidated data makes it easier to spot any trends.
- You can monitor the cost of owning assets over time and decide if it’s better to lease, outsource, or repair and replace items.
- You can maintain compliance through proper record-keeping for tax purposes.
- You’ll save your teams a lot of manual data entry, reducing administrative burden and saving your company time and money.
- Over time, you’ll be able to optimize your maintenance programs to minimize repair expenses and maximize your asset’s lifespan.
- With data at your fingertips, it will ensure smooth internal and external audits of asset-related information.
For more on the benefits of using this type of specialty software, I recommend reading this article: What is Asset Management Software and How Can it Help Your Business?
What Do You Think About This List?
I hope this summary of the best asset management software helped you get one step closer to finding the right software for your business.
If the tools above don’t feel like the right fit, I recommend popping over to our Crozdesk website, where you can dive deeper into 300+ software categories and compare your top choices side-by-side.
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Related read: Best Enterprise HR Software Systems