The need to track and manage assets is more crucial than ever. Frequent updates, complicated cloud technologies, etc, have made tracking and managing IT assets challenging for businesses. This is where asset management software kicks in to ensure optimum asset utilization while reducing costs. Learn the top 06 asset management software, their features, pros and cons, and pricing structure, and make the right pick for your business.
Businesses seeking to thrive in this competitive world need effective utilization of assets in a data-driven era. Whether it is a set of machines powering your production, vehicles responsible for deliverables, or IT infrastructure handling your daily operations, the effective performance of each asset is vital.
However, manual asset management across different spreadsheets and scattered systems can hamper productivity and lead to inefficiency. Here, AMS (asset management software) offers a significant solution to businesses.
No matter how profitable your business is, you need asset manager software.
Let’s learn more about this tool, its benefits, and the best options you have in the market.
What Is Asset Management Software? How does It benefit businesses?
An asset management tool harnesses the power of data and enables you to gain an all-inclusive view of your asset portfolio as a whole. It fixes your organization data and helps you track key metrics such as asset utilization rates and history of maintenance to make data-driven decisions that maximize ROI (return on investment).
It is a tool designed to simplify the entire process of tracking, maintaining, and the overall lifecycle of all assets used in your organization. These assets include
Physical assets (equipment, machinery, furniture, vehicles, and other tangible property).
Digital assets (customer data, creative documents, intellectual property, and other important files).
IT assets (laptops, computers, software licenses, servers, and other types of technology software).
This software asset management tool acts as a centralized hub that contains all the critical information about your assets in a single place. Not only this, it offers numerous benefits to a business which are:
Improved Visibility and Efficiency: This software gives you a real-time overview of your asset portfolio, eliminating the need for manual tracking and managing scattered spreadsheets. As this software automates various tasks like reporting and scheduling, it streamlines workflows and improves productivity, freeing up time for your employees to focus on strategic aspects.
Reduction of Cost: It helps you allocate resources correctly and optimize maintenance practices which minimizes repair costs. This leads to minimum downtime and extends the longevity of your assets as well.
Better Decision Making: When you gain valuable insight from the data provided, you make better decisions about asset upgrades, replacement, and acquisition.
Minimized Risk: This software helps you proactively monitor and take preventative measures, helping you to minimize risks of unexpected asset failure, loss, or theft.
Enhanced compliance:This software keeps a detailed record of your assets and makes it readily accessible. This ensures you adhere to industry regulations and safety rules which positively impact your business reputation.
Top Asset Management Software for Business
Here is the list of the top 06 asset management tools for organizations. Understand their features, pros and cons, and pricing structure to pick the best-suited one.
Asset Panda
Asset Pandais a cloud-based asset management tool specifically designed to streamline the process of tracking, maintaining, and managing the entire lifecycle of your company’s assets. This user-friendly asset management system is suitable for all business sizes.
Notable Features of Asset Panda:
Record and manage comprehensive information on all your assets (physical, digital, IT).
Generate insightful reports to identify trends, analyze utilization of assets, and make data-driven decisions.
Automate workflows, schedule assets preventive maintenance, and track service history to keep your assets in top shape.
Create custom fields matching your specific needs for capturing relevant data of assets.
The mobile app enables you to access and update information on the asset easily.
Seamless integration with popular business software for a unified workflow.
Reasons to Use
Eliminates the need for manual tracking as you can gain a centralized view of your assets.
Automates tasks like reporting and scheduling maintenance.
Preventive measures increase the longevity of assets and reduce maintenance costs.
Easy access to detailed maintenance records, and simplified compliance with industry regulations.
Flexible plans for growing business needs.
Reasons to Avoid
Limited reporting capabilities.
Businesses with complex needs require expensive plans.
Limited integration options.
Pricing Structure of Asset Panda:
Starts at $45 per month for 250 assets.
Asset Cloud
Asset Cloud is another asset management tool in our list designed to help businesses manage their assets efficiently. Thisasset manager softwareprovides tools to simplify maintenance tasks.
Notable Features of Asset Cloud:
Ease of maintaining comprehensive data for all your assets including purchase dates, serial numbers, and location tracking.
Barcode scanning for quick identification and check-in/out process, minimizing errors in the data entry.
Creating and managing work orders for repairs and preventative maintenance is easy.
Bulk actions and batch editing for identical assets.
Streamline maintenance scheduling for identical equipment.
Insightful reports to optimize assets lifecycle, identify trends, and track key metrics.
Mobile app for accessing and managing assets data.
Reasons to Use
Improved inventory control, eliminating manual tracking and scattered spreadsheets.
Streamline maintenance procedures, automate tasks, and reduce manual entry.
Optimize resource allocation and maintenance practices to increase the longevity of assets and reduce maintenance costs.
Accommodates the growing needs of your business.
Simple asset management using bulk actions for identical items.
Reasons to Avoid
Limited customization for specific requirements.
Limited integration options.
Might not be ideal for a diverse asset portfolio requiring high functionalities.
Pricing Structure of Asset Cloud:
Free trial.
One-time purchase of $1795.
ManageEngine AssetExplorer
ManageEngine AssetExplorer is a web-based IT software asset management solution designed to streamline the tracking and management of your organization’s software and hardware assets in their complete lifecycle. This user-friendly tool creates a centralized hub for all your IT assets including software licenses, hardware specifications, warranty info, and purchase history.
Notable Features of ManageEngine AssetExplorer:
Populates the detailed information of your inventory automatically including hardware and software assets network.
Ease of tracking software licenses, monitoring usage, and generating alerts for upcoming renewal or expiration of licenses.
Comprehensive reports on software spending and asset utilization to help you make data-driven management decisions.
Seamlessly integrates with ManageEngine ServiceDesk Plus or other popular desk software.
A mobile app to scan asset barcodes, submit service requests, and view asset details.
Reasons to Use
A comprehensive view of entire IT assets.
Automatic license tracking and notification that eliminates costly audits.
Mobile app for managing assets on the go.
Automate reporting, asset discovery, and IT service desk integrations.
Easy identification of underutilized assets.
Assets data are organized in one central location, and readily accessible.
Reasons to Avoid
Limited physical asset management.
Lack of scalability for the complex IT environment.
Limited customization options.
Pricing Structure of ManageEngine AssetExplorer:
Freemium model for managing up to 25 assets.
For 50 assets, the plan starts at $595 per year.
For more asset management, price is available on request.
AssetTiger
AssetTiger is another asset management tool for all business sizes. It is a cloud-based software specifically designed to streamline maintenance management, asset tracking, and reporting. This user-friendly asset manager softwareis convenient and accessible for businesses seeking strong control over their asset portfolio.
Notable Features of AssetTiger:
Ease of asset tracking including purchase history, serial number, attachments, and location tracking.
Scheduling preventive maintenance and tracking service history is easy.
Automating workflows increases the lifespan of assets and ensures optimal performance.
Mobile app to scan asset QR codes, check-in/out, and manage asset data on the go.
Generate insightful reports on asset utilization, cost of maintenance, and other metrics to make data-driven decisions.
Seamless integration with existing business ERP (enterprise resource planning) or accounting systems.
Reasons to Use
Gives a clear picture of your entire asset portfolio.
Automate tasks, reduce manual entry and streamline workflows to enhance efficiency.
Optimize maintenance practices, leading to minimum downtime and extended asset lifespans.
Simplified asset management processes and automated tasks increase productivity.
Insightful reports to make strategic decisions about asset maintenance, allocation, and acquisition.
Reasons to Avoid
Offers less customization options.
Limited scalability option for large organizations having complex asset management requirements.
Limited reporting features.
Pricing Structure of AssetTiger:
The basic plan is free for 250 assets.
For 500 assets, the plan starts at $120 per year.
For up to 2500 assets, the plan starts at $230 per year.
For up to 10,000 assets, the plan starts at $400 per year.
For up to 50,000 assets, the plan starts at $800 per year.
For up to 2,50,000 assets, the plan starts at $1600 per year.
Asset Infinity
Asset Infinity is another asset management tool to track your entire asset portfolio easily. This cloud-based fixed assets management softwarehandles every asset-related task easily, from acquisition to disposal. It is best suited for industries that rely heavily on machinery and physical equipment.
Notable Features of Asset Infinity:
Ease of tracking all your assets using barcode scanning, QR codes, and RFID (radio frequency identification) tags.
Scheduling, tracking, and assigning preventive maintenance to increase the lifespan of assets.
Insightful reports on asset utilization rates, maintenance history, and overall health.
Customize fields based on your specific needs to quickly capture asset information.
Seamlessly integrates with existing ERP, accounting, and other business apps.
Mobile app for managing assets on the go. You can scan, assess key data, and check in/out using this app.
Reasons to Use
Centralized view of your assets, eliminating hassles of manual tracking.
Generate insightful reports and automate maintenance tasks.
Optimized maintenance tasks lead to minimum downtime and low repair costs.
Detailed maintenance records help you adhere to industry regulations.
Reports on asset performance enable you to make strategic decisions about purchases, replacements, and upgrades.
Reasons to Avoid
Might not be ideal for managing software licenses or other digital assets.
Potential limitations in handling large assets portfolio.
Technical expertise is required for advanced customization.
Pricing Structure of Asset Infinity:
The Standard plan starts at $130 per month.
The Enterprise plan requires a custom quote.
MMSoft Pulseway
MMSoft Pulseway is among the best asset management tools designed for remote desktop management and monitoring of laptops and servers. This software enables IT professionals to access, control, and troubleshoot devices remotely to reduce downtime and improve efficiency.
Ease of assessing IT infrastructure like desktops, laptops, and servers remotely for software installations, troubleshooting, and configuration changes.
Monitoring memory utilization, CPU usage, disk space, etc. is easy.
Remote deployment of software updates and security patches.
Centralized inventory of all IT assets with detailed information.
Generate insightful reports on asset utilization, system health, and user activity.
Reasons to Use
Streamlines IT operations remotely.
Ease of managing user accounts remotely.
Identify and address issues remotely via proactive monitoring and maintenance.
Maintain and manage all IT assets in a centralized location.
Easily scalable.
Reasons to Avoid
Might not be suitable for managing a large portfolio of physical assets.
If not managed properly, granting remote access raises security concerns.
Pricing Structure of MMSoft Pulseway:
The plan starts at $44 per month.
Frequently Asked Questions About Asset Management Software
How much does asset management software cost?
The exact cost of asset management software depends on the features of the tool and the size of your business. But, the per-month pricing model generally starts at $45.
Is asset management software difficult to set up?
It depends on the software you choose. For example, cloud-based software is easy to set up, and others need more IT involvement.
Can I integrate asset management software with other software programs?
Yes, you can integrate asset management tools with other software programs like ERP, CMMS (computerized maintenance management system), and accounting.
Does asset management software track intangible assets?
Yes, AMS like Asset Panda and Asset Cloud tracks intangible assets like intellectual property or software licenses.
How can I ensure that data entry into the asset management software is accurate?
Many ways exist to ensure data accuracy in asset management software such as barcode scanners, QR codes, or integration of other tools that contain asset data.
To Conclude
From providing a centralized location for all your assets data to generating insightful reports and automating maintenance schedules, AMS offers a comprehensive solution to businesses of all sizes.
By now, you have understood the benefits of asset management software and top tools that offer different sets of features to a business. Read their strengths and weaknesses and pricing plans carefully, understand your business needs, and make the right pick!
