Asset management software is a great solution that enables organizations to efficiently track, monitor, and optimize their assets at every stage of their lifecycle.
It offers a centralized platform for managing diverse asset types, including physical equipment, IT hardware and software, vehicles, buildings, and more. In this article, you’ll explore asset management software.
With asset management software, you can monitor assets in real-time and capture vital information like location, purchase date, warranty details, maintenance history, and other relevant data. Today, you will learn everything about asset management software.
Asset Management Software: Overview
Asset management software is a dedicated solution created to aid organizations in effectively monitoring, tracking, and maximizing the potential of their assets throughout their entire lifespan.
It offers a centralized platform for managing diverse asset types, from physical equipment and IT hardware/software to vehicles, buildings, and more.
Common functionalities found in asset management software include asset tracking, maintenance management, procurement and disposal management, reporting and analytics, and integration capabilities.
Asset management software streamlines asset-related workflows, improves productivity, and facilitates informed decision-making by enabling businesses to efficiently track asset locations and capture vital information such as purchase dates, warranty details, and maintenance history.
Asset management software assists businesses in maximizing asset value by enhancing asset utilization, optimizing maintenance schedules, and ensuring regulatory compliance.
It offers valuable insights into asset performance, costs, and depreciation, empowering organizations to make data-driven decisions regarding asset investments, replacements, and upgrades.
Asset Management Software: Features
Here are the features of asset management software:
- Asset management software enables businesses to monitor and track assets in real time, granting visibility into their location, status, and usage. It facilitates the recording of vital asset information, such as purchase details, warranty status, and maintenance history.
- The software aids in scheduling and managing asset maintenance tasks, automating workflows, sending preventive maintenance reminders, and tracking service history. It also streamlines work order management for repairs and servicing.
- Regarding procurement, asset management software supports the entire process, from requesting quotes to generating purchase orders and tracking asset acquisitions.
- The software provides valuable insights into asset performance, utilization, costs, and depreciation by generating comprehensive reports and analytics.
- Asset management software includes functionality to calculate and track asset depreciation over time, ensuring accurate financial records and reporting.
- Lastly, the software assists organizations in maintaining compliance with regulatory requirements and internal policies, facilitating audits and adherence to necessary guidelines.
Asset Management Software: Types
Here are the types of asset management software:
- Digital asset management software effectively handles digital assets, ensuring their organization, retrieval, and distribution.
- Enterprise asset management software seamlessly integrates with various business enterprise systems and offers a centralized perspective of all organizational assets.
- Fixed asset management software is tailored to manage physical assets, overseeing maintenance, tracking, and utilization.
- IT asset management software focuses on managing IT assets, enabling efficient tracking, optimization, and compliance.
- Real estate management software tracks and manages real estate assets.
How To Select The Best Asset Management Software
Here are the factors to consider while choosing the best asset management software:
- Consider software that can scale and adapt to the expansion of your asset inventory and changing business requirements.
- Examine the software’s distinct features and functionalities to ensure they align with your asset management needs.
- Assess the user interface and user-friendliness of the software to determine if it can be easily navigated and utilized.
- Verify whether the software has integration capabilities with other essential business systems you rely on.
- Consider whether the software provides mobile access or a dedicated mobile application to enable convenient asset management.
- Ensure the software incorporates robust security measures to safeguard sensitive asset data from unauthorized access.
- Confirm whether the software can be customized to suit your organization’s unique workflows and specific requirements.
- Evaluate the software’s pricing structure and associated costs to determine its affordability and value proposition.
Top Asset Management Software In The US Market
Here’s the best asset management software in the US market:
1. InvGate
| PROS | CONS |
| + The navigation of the software is straightforward and user-friendly, ensuring ease of use and intuitive operation + It offers competitive pricing that is suitable for small to midsize businesses, providing a cost-effective solution + Setting up the software is quick and hassle-free, allowing users to get started promptly | – The reporting capabilities are limited in scope |
InvGate Assets, created by InvGate, is a company that specializes in IT service & asset management software that is perfect for managing IT assets.
InvGate Assets is specifically designed to assist organizations in efficiently managing and monitoring their IT assets from acquisition to retirement.
This software offers amazing features and capabilities, effectively managing both hardware and software assets.
InvGate Assets allows organizations to manage their IT infrastructure by supporting both on-premises and cloud-based assets.
With InvGate Assets, organizations can easily track assets throughout their entire lifecycle. This includes ownership, location, maintenance history, warranty information, and service contracts.
Additionally, the software provides robust license management capabilities. This allows organizations to track and manage software licenses, monitor usage, and ensure compliance with licensing agreements.
InvGate Assets facilitates efficient management of service contracts, warranties, and vendor relationships.
Setting up InvGate’s alert system is a simple process, and it promptly notifies users about any issues related to their assets.
To receive a price quote, you must submit a form requesting it, after which the company will contact you.
2. Asset Panda
| PROS | CONS |
| + The mobile app is packed with a wide range of features, including barcode scanning functionality, enhancing its usability & versatility + Users can rely on a dependable and competent technical support team for assistance and guidance + The dashboard is highly customizable, allowing users to tailor it to their specific needs & preferences | – The software lacks network discovery capabilities |
Asset Panda is a robust cloud-based platform for tracking and managing physical assets, offering organizations a powerful solution.
With Asset Panda, organizations can monitor their assets in real-time using barcodes, QR codes, or RFID tags.
The platform also provides mobile applications for iOS and Android devices, allowing users to conveniently access asset information and carry out asset-related tasks while moving.
Users can effectively schedule and monitor asset maintenance and service requests through the platform.
Asset Panda offers extensive reporting and analytics features, empowering users to create personalized reports, analyze asset data trends, and gain valuable insights regarding asset utilization, depreciation, and other essential metrics.
With its flexible configuration options, Asset Panda can be easily adapted to fulfill the specific needs of any business. These features are available for $1,500 for every 500 assets, making it the ideal choice for cost-effective asset management software.
3. GoCodes
| PROS | CONS |
| + The software is available at an affordable price point, offering good value for its features and capabilities + It enables users to locate powered-down assets conveniently using online platforms or mobile devices + Setting up and using the software is simple and user-friendly, requiring minimal effort and technical knowledge | – The software lacks software usage tracking functionality and automated detection of assets |
GoCodes is a web-based system for tracking and managing physical assets, leveraging QR code technology to enhance organizational efficiency.
Users can use the GoCodes mobile app, compatible with iOS and Android devices, to scan QR codes, access and modify asset information, conduct audits, and manage assets seamlessly, even while on the move.
GoCodes operates on a secure cloud-based platform, ensuring asset data is stored safely and conveniently accessible online.
The system enables real-time tracking to continuously monitor asset locations, ensuring users have the most recent information.
GoCodes provides a flexible asset database that can be customized according to user preferences. This allows users to define and capture specific data fields for each asset, tailoring the system to their unique requirements.
GoCodes monitors each asset’s service requests, maintenance, and repair activities effectively.
Regarding reporting, GoCodes has a limited range of options. The Enterprise plan offers fewer than 20 customizable reports, while the other plans provide optional reporting functionalities.
4. ManageEngine
| PROS | CONS |
| + The setup process is straightforward and hassle-free, allowing users to get started quickly + The user interface adopts a familiar Windows-style layout, enhancing usability and familiarity + The software offers amazing features with mature technology, providing users with a rich and powerful toolset | – This software may not be suitable for small businesses with limited IT staff, as it may require a more robust support system |
Zoho Corporation has developed ManageEngine, an extensive collection of IT management software solutions.
ManageEngine offers a comprehensive suite of solutions covering domains such as IT operations management, network management, IT service management, IT security management, help desk and customer support, and more.
This suite comprises various software products, each designed to address specific requirements within IT management.
ManageEngine AssetExplorer incorporates a remarkable Quick Links feature, ensuring your attention remains directed toward the tasks at hand.
The reporting capability of ManageEngine AssetExplorer showcases its mature technology, offering a seamless and efficient reporting experience. Additionally, users can create fully customized reports according to their specific requirements.
If you want to get accurate pricing information for ManageEngine AssetExplorer, it is necessary to contact ManageEngine directly. However, the starting price for AssetExplorer begins at $995 per year for a package that includes 250 IT assets.
5. Ivanti
| PROS | CONS |
| + The software employs a user interface that resembles the familiar Windows-style layout, facilitating ease of use and familiarity + Users have the flexibility to customize workflows and processes according to their specific needs and requirements + The software offers both mobile and desktop workspaces, allowing users to switch between different devices while maintaining productivity seamlessly | – The installation process of the software can be lengthy and resource-intensive, requiring substantial hardware capabilities |
Ivanti is a renowned software company with a global presence, dedicated to delivering IT management and security solutions tailored to organizations of various sizes.
Ivanti’s offerings include IT service management solutions, including the feature-rich Ivanti Service Manager. These solutions empower organizations to automate and optimize their service desk operations, enhancing overall efficiency.
In addition, Ivanti provides IT asset management solutions that enable organizations to effectively oversee their IT assets at every stage of the life cycle, ensuring optimal utilization and control.
Ivanti provides various solutions, including Ivanti Patch Manager and Ivanti Endpoint Security, which aid organizations in safeguarding their systems against vulnerabilities and cyber threats.
For organizations capable of managing an on-site installation, there is an advantage in quicker response time for asset discovery and report generation.
Ivanti does not disclose its pricing openly; therefore, interested parties are encouraged to contact Ivanti directly for a personalized estimate.
6. MMSoft Pulseway
| PROS | CONS |
| + The software provides users with a modern and intelligent user experience, ensuring a seamless and intuitive interface + It offers effortless connections to both cloud-based and locally deployed physical and virtual infrastructure, enabling efficient management across different environments + The mobile client is robust and user-friendly, empowering users to perform tasks conveniently on their mobile devices | – Managed assets must be networked for effective management within the software |
MMSoft Pulseway is an advanced software solution for remote monitoring and management, catering to the needs of IT professionals and managed service providers. Its primary purpose is to facilitate the monitoring and management of IT infrastructure and systems from any location and at any time.
With Pulseway, users can effectively monitor critical IT resources in real-time, gaining valuable insights into system performance and ensuring optimal functionality.
MMSoft Pulseway provides immediate alerts and notifications through multiple channels, including email, SMS, or mobile push notifications. This feature enables IT professionals to respond to critical incidents and potential issues swiftly, ensuring minimal downtime and rapid problem resolution.
Pulseway provides remote control capabilities that empower IT personnel to access and manage systems easily.
The software assists in automating and optimizing the patch management process, simplifying and enhancing its efficiency. It can conduct system scans to identify missing patches, schedule and deploy patches, and monitor patch compliance across various devices and platforms.
Pulseway offers users a cutting-edge and intelligent experience, ensuring seamless operation across different devices and platforms.
The software provides a user-friendly interface that grants access to a comprehensive set of system functionalities, all presented intuitively and visually appealing. Furthermore, machine connectivity is established swiftly, facilitating quick and efficient management.
Pulseway’s Professional plan starts at $22 for 20 workstations, delivering excellent value for the price. Additionally, users can explore the software’s full range of features with a 14-day trial period, allowing them to experience its capabilities firsthand.
Asset Management Software: Cost
The cost of an asset management system typically fluctuates depending on the quantity and nature of assets you intend to manage.
Certain providers may also consider the number of users permitted when determining their pricing structure. Prices vary significantly from approximately $20 to over $1,000 monthly.
FAQs (Frequently Asked Questions) On Asset Management Software
1. What is asset management software?
Asset management software is a dedicated software solution developed to assist organizations in efficiently tracking, monitoring, and optimizing their assets throughout the entire asset lifecycle. It offers a centralized platform for managing diverse asset types, including IT hardware and software, buildings, physical equipment, vehicles, and more.
2. What is an example of an asset management system?
IBM Maximo serves as an exemplary asset management system. It is a highly utilized software solution for enterprise asset management, enabling organizations to manage and optimize their physical assets effectively.
3. Does Microsoft have asset management?
Yes, Microsoft has asset management software. It delivers established processes and tools that assist in managing, safeguarding, and optimizing IT assets for your customers. These solutions empower businesses to propel their operations forward.
Conclusion: Asset Management Software
Asset management software is a dedicated solution crafted to assist organizations in effectively tracking, monitoring, and optimizing their assets across their entire lifespan. It offers a centralized platform for managing diverse asset types, encompassing physical equipment, IT hardware and software, vehicles, buildings, and more.
The asset management software encompasses capabilities such as asset tracking, maintenance management, procurement and disposal management, reporting and analytics, and integration functionalities. These functionalities streamline asset-related processes, boost productivity, and facilitate improved decision-making.
When selecting the optimal asset management software, it is crucial to consider elements including scalability, features and functionality, user-friendliness, integration capabilities, mobile access, security, customization options, vendor reputation and support, and pricing.
A thorough evaluation of these factors allows organizations to choose the asset management software that best aligns with their unique requirements and enables them to accomplish their asset management objectives effectively.
I hope today’s article on the best asset management software sounds helpful!
