By Effective technology management is a cornerstone of modern business success. Knowing exactly where your physical and digital resources are is non-negotiable. Implementing the right asset management software provides the necessary framework for controlling costs and optimizing operational efficiency.
The strategic imperative behind these systems is clear, especially with new technologies. For instance, PwC reports that generative AI has the potential to unlock cost efficiencies of up to 15% for asset managers’ cost base. This guide examines ten leading tools to help you choose the precise solution.
Key Takeaways:
- Asset management software centralizes data on hardware, software, and contracts to minimize loss and increase security.
- The primary benefits include realizing cost savings through license optimization and improving financial reporting accuracy.
- The best tools integrate technical tracking with financial management to provide a complete asset lifecycle view.
What is Asset Management Software?
Asset management system is an application designed to track and manage the lifecycle of an organization’s physical and digital assets. This process begins when the asset is acquired and concludes when it is disposed of. The software maintains a record of location, maintenance history, user assignment, and financial value.
These systems are vital for maintaining compliance, controlling shadow IT, and maximizing the return on investment (ROI) from expensive equipment. They essentially provide a single source of truth for all organizational resources.
Benefits of Asset Management Software
Implementing a robust asset management system provides immediate and long-term gains across multiple departments. The strategic advantage lies in transforming raw data into usable strategic guidance.
Effective asset tracking minimizes unnecessary purchases and ensures maximum utilization of existing resources. It removes the risk of non-compliance with software licensing agreements.
- Increases operational efficiency and reduces downtime.
- Optimizes software licensing and avoids unnecessary renewals.
- Improves regulatory compliance and security.
- Enhances decision-making with accurate, real-time data.
- Lowers total cost of ownership (TCO) for hardware.
- Strengthens financial reporting and budgeting accuracy.
A fully deployed system ensures better accountability for all equipment. This helps extend the working life of the equipment and reduces costs associated with maintenance.
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10 Top Software for Tracking Business Assets
Choosing the right platform depends on whether your priority is managing IT endpoints, large enterprise infrastructure, or general company equipment. The following solutions are leaders across various segments of the industry.
1. ServiceNow IT Asset Management
ServiceNow IT Asset Management (ITAM) is an enterprise solution designed to integrate deeply with IT Service Management (ITSM). It provides comprehensive visibility across the entire lifecycle of hardware and software assets. This supports businesses in maximizing output and reducing vulnerabilities.
Pros:
- Strongest integration with IT service and workflow management.
- Excellent for managing complex cloud and hybrid environments.
- Highly scalable for large organizations globally.
Cons:
- Learning curve is steep for basic users.
- Focuses primarily on IT and software.
Price: Flexible
2. Ivanti
Ivanti offers deep visibility into IT assets, combining traditional hardware and software tracking with unified endpoint management. Its platform is excellent for providing both asset inventory and essential security remediation. This provides a single view for IT operations.
Pros:
- Reliable security and endpoint enforcement features.
- Excellent for software license compliance.
- Strong integration across IT security and service management.
Cons:
- Implementation can be highly complex.
- Interface may require training for full optimization.
Price: Flexible
3. Freshservice
Freshservice is a cloud-based asset management software that is highly praised for its modern, intuitive interface and automation capabilities. It combines IT Service Desk functionality with comprehensive asset management.
Pros:
- Highly user-friendly and quick to deploy.
- Strong automation features for lifecycle management.
- Excellent for mid-sized organizations.
Cons:
- Customization capabilities are less granular than full enterprise tools.
- Reporting may be simpler than specialized platforms.
Price (annually):
- Starter: USD19 per agent/month.
- Growth: USD49 per agent/month.
- Pro: USD99 per agent/month.
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4. ManageEngine AssetExplorer
ManageEngine is one of the best tools to manage company assets that excels at automated asset discovery and inventory tracking across all network devices. It is a specialized solution for controlling hardware and software from a centralized point.
Pros:
- Strong automated network scanning and device discovery.
- Excellent for managing contract and purchase order details.
- Highly focused on compliance and licensing audits.
Cons:
- Interface is primarily technical, appealing less to general users.
- Mobile functionality is less comprehensive than some rivals.
Price: Flexible, through quote request.
5. Flexera One
Flexera One focuses specifically on Software Asset Management (SAM) and technology value optimization. This platform helps large organizations gain total visibility into software usage and licenses across hybrid IT environments. It is invaluable for reducing audit risk and optimizing cloud spend.
Pros:
- Specialized for complex software license compliance.
- Excellent for identifying shadow IT and unused licenses.
- Drives significant cost savings through software optimization.
Cons:
- Primary focus is software, not general hardware tracking.
- Requires deep understanding of licensing models.
Price: Flexible through demo request.
6. SolarWinds
SolarWinds is highly regarded in network monitoring, and its asset management capabilities are integrated with its core IT infrastructure tools. This integration is an excellent choice for teams managing network operations and specialized devices.
The platform ensures end-to-end visibility. The integration of technical monitoring makes it top-tier asset management software.
Pros:
- Strong monitoring and network discovery features.
- Made for Managed Service Providers (MSPs) and IT pros.
- Excellent for troubleshooting hardware performance issues.
Cons:
- Can be overly complex for basic inventory tracking.
- The feature set is heavily weighted towards network health.
Price:
- Service Desk: Starts at USD39 per month, per technician.
- Web Help Desk: Starts at USD533.
7. Jira Service Management (ITAM)
Jira Service Management is top software for tracking business assets that integrates asset tracking directly with its industry-leading ticketing and workflow system. This connection is vital for DevOps and engineering teams who need asset context linked to every service request.
Pros:
- Seamless integration with Jira project and service tickets.
- Excellent for managing assets within software development workflows.
- Highly customizable issue tracking and configuration management.
Cons:
- Requires familiarity with the Atlassian ecosystem.
- Core strength is ticketing, not just inventory.
Price (monthly):
- Free.
- Standard: USD19.04 per agent/month.
- Premium: USD47.82 per agent/month.
- Enterprise: Custom.
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8. Asset Panda
Asset Panda is a mobile-first solution that excels at non-IT asset tracking, such as furniture, tools, and equipment. Its mobile app allows users to track assets using barcodes and GPS location from anywhere, which makes physical asset management simple.
Pros:
- Highly intuitive and mobile-centric design.
- Excellent for non-IT and physical asset tracking.
- Unlimited users are included in standard plans.
Cons:
- Less specialized for complex IT software license auditing.
- Reporting features are simpler than enterprise platforms.
Price (annually):
- Free Trial.
- Starter: USD50 per user/month.
- Business Plus: USD60 per user/month.
- Enterprise: Custom.
9. Lansweeper
Lansweeper is asset management software known for its agentless network discovery, providing comprehensive visibility into all connected devices and software from a central hub. It quickly finds unknown or undocumented assets across the organization.
Pros:
- Superior, agentless network scanning capabilities.
- Quickly identifies shadow IT and unknown devices.
- Excellent foundation for risk identification.
Cons:
- User interface is older and less modern than competitors.
- Focuses primarily on discovery and inventory.
Price:
- Free.
- Starter: EUR219 (approx. USD254) per month.
- Pro: EUR399 (approx. USD464) per month.
- Enterprise: Custom.
10. EZO AssetSonar
EZO AssetSonar is a cloud-based IT asset management solution that emphasizes comprehensive lifecycle management and helpdesk integration. It is highly effective for managing IT equipment from procurement to retirement. The platform is often praised for its usability.
Pros:
- Strong integration with service management tools.
- Excellent for managing asset check-in and checkout.
- Good for tracking compliance and depreciation.
Cons:
- Can become complex when integrating multiple modules.
- The reporting dashboard requires customization.
Price: Flexible through a call.
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Secure Your Future with Strategic Asset Management Software
Investing in asset management software is a critical strategic move that provides a definitive competitive advantage. These tools ensure every resource contributes maximum value and safeguard your financial and digital health. When you bring everything under one roof, you gain the necessary insight to make informed decisions.
