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Businesses in the digital age must manage and track more assets than ever before. With mobile devices flooding the workplace, increasingly complex cloud technologies, licensed-based software, and more frequent updates, managing and tracking IT assets has become much more complicated. And frequent employee turnover raises data security issues.
This is where asset management software (AMS) comes in. It allows businesses to monitor their assets and effectively manage them to ensure their optimum utilization while reducing IT and software costs. They provide a holistic view of an asset's lifecycle—from its procurement and implementation through its renewal and disposal. Though a business could use a simple spreadsheet to track its assets, an AMS allows it to analyze data specific to each asset, enabling it to make more informed decisions about managing its assets.
In this roundup, we reviewed 20 AMS programs, comparing factors such as price, configurability, special features, ease of implementation, remote capabilities, and user experience to arrive at the best in six different categories.
The 6 Best Asset Management Software Options of 2023
- Best Overall: ManageEngine AssetExplorer
- Best for Small to Medium Businesses: InvGate Assets
- Best for Custom Reporting: Ivanti IT Asset Management
- Best Value: Asset Panda
- Best for Mobile Applications: MMSoft Pulseway
- Best for Tracking Physical Assets: GoCodes
Best Overall : ManageEngine AssetExplorer
With its mature toolkit and abundance of advanced features, including top-notch reporting, unique relationship maps, and support for both physical and virtual assets, ManageEngine AssetExplorer is our choice as the best overall asset management software.
Feature-rich tool set with mature technology
Familiar Windows-style user interface
No mobile application
Not for small businesses with limited IT staff
ManageEngine AssetExplorer is a web-based solution packed full of tools and features to handle all aspects of asset management, including inventory management, software license administration, compliance review, and more. With its mature technology, ease of setup, and reasonable price, ManageEngine AssetExplorer is our choice as the best overall asset management software.
For businesses new to asset management, ManageEngine AssetExplorer's feature-rich tool set may seem a bit overwhelming. However, if you start with its 30-day free trial, you can shorten the learning curve. The setup can appear incredibly daunting with its excessive number of tabs and drop-down menus. But ManageEngine AssetExplorer includes an excellent Quick Links feature to help you stay focused on the tasks you need to complete.
It also helps that the interface has a Windows look and feel. Adding devices can also seem daunting due to the sheer number of choices. But the Windows Agent Configuration simplifies the process when using installed Windows Agents on new devices.
ManageEngine AssetExplorer's mature technology shines through with its reporting capability. In addition to a few dozen pre-built reports, the system can export reports in multiple formats to include all past queries. You can also easily create completely customized reports. In addition to scheduling reports to run, you can schedule email delivery to specific recipients.
One significant downside to ManageEngine AssetExplorer is the lack of a mobile application. Though you can access the program on a mobile browser, its somewhat complicated user interface (UI) can make navigating on mobile devices more difficult. It's OK for more straightforward tasks, such as handling repair tickets and troubleshooting on the road.
The starting price for ManageEngine AssetExplorer is $995 per year for 250 IT assets, but you have to contact ManageEngine for a detailed quote.
All ManageEngine AssetExplorer users have access to 24/7 technical support, which is another key differentiator. Its support for virtual hosts and virtual machines is also a rarity. The only downside is there is no support if you're managing a lot of mobile devices, though there is support for voice-over IP (VoIP) phones.
Best for Small to Medium Businesses : InvGate Assets
- System Compatibility: Windows, MacOS, Linux
- Support Features: Unlimited access by phone and online for subscribers
- Pricing: Available only by request
We chose InvGate Assets as the best asset management software for small to medium-size businesses with limited IT staff because it checks all the boxes, including easy setup, ease of use, advanced reporting, and remote desktop, all at a reasonable price.
Quick and easy setup
Straightforward and easy-to-follow navigation
Alarms can quickly show problems with assets
Reasonably priced for small to mid-size businesses
InvGate Assets covers all the essential software and hardware bases for tracking assets and inventory and doing so with an easy installation and easy-to-use interface, making it our choice for the best asset management software for small to medium-size businesses.
Out of the box, InvGate Assets allows businesses to track their assets with features such as advanced reports, network discovery, remote desktop, change management, license management, software deployment, and software metering. InvGate shortens the user learning curve with a straightforward and easy-to-follow UI. The navigation for getting reports is as simple as conducting a regular search and then exporting the data to Microsoft Excel.
InvGate's alert system is easy to set up, and it quickly notifies users of any problems with assets. It also uses a straightforward approach to getting assets into the system with a simple agent install on any machine or device to be tracked. The system supports clients using Windows, MacOS, and even Linux.
The price you pay for InvGate Assets depends on the number of nodes you want to support. Nodes are only counted if an agent will be installed for the InvGate Assets application. Other access points, such as IP phones, printers, routers, and fax machines, aren't included in the nodes count.
InvGate offers three plans—Insight, Service Desk, and Assets—but pricing is not readily available on its website. To get a quote, you must request it by filling out a form and having the company contact you.
InvGate support is ideal for businesses with limited IT staff that might need more hand-holding. Subscribers receive unlimited access to phone support and a web support portal that includes a self-service knowledge base. Users have access to documentation and can request assistance with problem reporting throughout the license period.
Best for Custom Reporting : Ivanti IT Asset Management
- System Compatibility: Windows
- Support Features: 24/7 access for subscribers
- Pricing: Available only by request
For businesses wanting more flexibility in tracking key data points, Ivanti IT Asset Management offers many pre-built reports, which can be further customized based on personal queries. That makes Ivanti IT Asset Management our choice for the best custom reporting.
Mobile and desktop workspaces
Familiar Windows-style interface
Easy wizard setup
Workflows and processes can be customized
Several tech support options
Does not offer a cloud-based service
Lengthy, hardware-heavy installation process
There are several reasons to like the feature-rich Ivanti IT Asset Management Suite. But the one that stands out for enterprises that want to quickly and explicitly highlight key data points is its reporting capability. With many pre-built reports available and the opportunity to build more queries, Ivanti IT Asset Management is our choice as the best custom reporting AMS.
Ivanti offers everything a business needs to accurately track and efficiently manage IT assets through their complete lifecycle, including asset discovery, financial management, software compliance, and license management. The setup uses a Windows-based interface, making it more intuitive for Windows users. The wizard follows a straightforward path to get you to your initial network scan for assets, with steps along the way to learn configuration and administration. After the initial scan, you can install agents on those machines.
Although Ivanti can tap into both mobile and desktop workspaces, it does not offer a cloud-based service, which means a more involved installation with minimum hardware requirements. For businesses that can manage an on-site installation, the upside is a faster response time for asset discovery and report generation. As previously mentioned, the reports quickly return information, even after manipulating queries to see more data.
Like many AMS providers, Ivanti's pricing is based on the number of nodes that need support, and similar to InvGate Assets, Ivanti counts only the number of agents installed. So IP phones, routers, and other network devices that can't install an agent are not included in the asset count for determining the price. Ivanti does not publish its pricing but instead asks interested parties to contact them for an estimate.
Ivanti also offers a free trial of the Asset Management Suite. But because the trial software must be installed on a local server, you will need to confirm that your machines meet the minimum hardware requirements.
An Ivanti subscription includes access to technical support, including phone support, a web portal, and online self-service. For a premium, Ivanti offers a dedicated technical account manager's support. There is 24/7 phone support for critical issues, but this is only available with premium enterprise-level support.
Best Value : Asset Panda
- Pricing: $1,500 per year for 500 assets
- Trial Period: 14 days
- Support Features: Online knowledge base access and free training
Asset Panda prices out at 500 assets for $1,500 per year, including unlimited users, free applications with barcode scanning, customizable CSV import with field mapping, "premium" technical support, and custom reporting, making it our choice as the best value for asset management software.
Highly configurable dashboard
Feature-rich mobile app with barcode scanning
Can include images, videos, and voice recordings in data files
Solid technical support
Longer user learning curve
No network discovery
Asset Panda is a cloud-based asset management system suitable for businesses of any type or size. Though it looks and feels like a turnkey solution, AMS is anything but that. In addition to offering premium features such as unlimited users and custom reporting, Asset Panda can easily be configured to meet any business's niche requirements, all for $1,500 per 500 assets, making it our choice as the best value for asset management software.
Asset Panda is as complete a package as any business needs to track and manage its assets. Its inventory management module combines inventory and asset management on one platform and includes the ability to manage assets at multiple locations and move between locations. Designated users may customize workflows for managed assets and inventory, which they can easily track using UPCs or serial numbers.
Asset Panda also offers the ability to add photos, documents, and videos to asset data files, and users have access to some solid reporting options with built-in reports that allow for customization as needed. It also has a mobile app to scan barcodes and add assets on the fly, and it is completely integrated with the web application. The app can generate reports and also features mobile audit and GPS tracking. That's an unusual amount of features for a mobile app.
The downside to Asset Panda is that its greater capacity to configure and customize comes with a steeper learning curve. Companies that don't have internal IT support can find it more difficult. However, the good news for small to midsize businesses is that everyone is treated as a premium user, with complete access to phone support. Users also have access to a web portal and an online knowledge base. Free training is included.
The 14-day free trial is short compared to others offering 30 or 45 days.
Best for Mobile Applications : MMSoft Pulseway
- Reporting Options: On-screen and by email
- Trial Period: 14 days
- Starting Price: Starting at $22 for 20 workstations
We chose MMSoft Pulseway as the best asset management software for mobile applications because it excels at its primary focus as a leading cloud-first remote monitoring and management (RMM) software.
Robust and easy-to-use mobile client
Modern, intelligent user experience
iPad app provides access to full feature set
Easy connections to cloud and locally deployed physical and virtual infrastructure
Managed assets must be networked
MMSoft Pulseway is a powerful, user-friendly mobile system for monitoring and managing assets. Unlike other remote monitoring and management software, Pulseway is mobile-first, with the ability to perform any administrative task straight from any smartphone or tablet. That's why Pulseway is our choice as the best AMS for mobile applications.
As you might expect with a mobile-first system, Pulseway provides users with an ultra-modern and intelligent user experience regardless of the device or platform in use. Users can access the entire range of system functionalities through a simple and attractive interface, and machine connectivity is nearly instant.
Although there's also remote desktop access into Windows machines, the Pulseway mobile application capabilities include troubleshooting cloud-based servers and other operating systems. It can kill processes, restart, log out, suspend, and lock non-Windows-based assets from the mobile client.
The real game-changer is the availability of real-time status updates from the mobile app. Notification options are very detailed, allowing you to select services and schedule tasks that need managing.
A significant downside to Pulseway is its limited reporting capabilities. Relative to other options, there are a small number of pre-built reports and no way to edit them or create new ones. The reports can be viewed on-screen and sent by email.
Pricing for Pulseway's Professional plan starts at $22 for 20 workstations. There is also a full-featured 14-day trial.
Best for Tracking Physical Assets : GoCodes
- Number of Reporting Capabilities: Less than 20
- Number of Plan Tiers: 5
- Starting Price: $500 per year for 3 users and 200 assets
Using secure QR stickers, GoCodes has built a robust, mobile-capable physical asset tracking system that's also affordable, making it our choice as the best AMS for tracking physical assets.
Ease of setup and use
Secure, physical stickers with detailed information
Locates powered-down assets online or from mobile devices
Tracks networked and non-networked assets
No software usage tracking or automated detection of assets
GoCodes is a web-based asset and inventory tracking software program suitable for businesses of any size that need to manage physical assets. We chose GoCodes as the best AMS for tracking physical assets because of its effective use of QR codes to track assets easily and quickly through any computer or mobile device. The simplicity of a physical sticker is attractive to businesses that aren't technology-driven.
It really is as easy as placing a barcode sticker on an asset to check it into GoCodes with details such as asset type, subtype, serial number, and who is assigned the asset, as well as any additional data tracked using customizable, user-defined fields. Asset data files can include documentation, such as invoices, repair records, photos, and videos. A mapping feature allows managers to track the location of an asset. GoCodes tracks service requests, repairs, and maintenance of that particular asset.
With GoCodes, calculating depreciation is automatic, using the most common calculation scenarios of fixed assets. Pre-built depreciation reports showing calculation data are included and can be exported for more detailed depreciation management.
GoCode's general reporting capabilities are limited, with less than 20 customizable reports available in the Enterprise plan with optional reporting functions in the other plans.
GoCodes offers five plans: Standard, Premium, Premium Elite, Professional, and Enterprise. All plans include any number of employees, an unlimited number of mobile apps, custom data fields, GPS tracking, and an inventory module.
The Standard plan starts at $500 per year and includes three users, 200 assets, and email support. The Premium plan costs $1000 per year and consists of five users with up to 500 assets. Premium Elite users pay $1,750 a year for 10 users and up to 1,000 assets. The Professional plan, which includes 20 users and up to 2,000 assets, starts at $2,500 per year and provides custom reporting.
Premium, Premium Elite, and Professional plan users have access to phone support during business hours. Pricing for the Enterprise plan is available upon request.
We recommend ManageEngine AssetExplorer as the best overall asset management software for its mature toolkit and abundance of advanced features, including top-notch reporting, unique relationship maps, and support for both physical and virtual assets. The software solution features a number of tools for simplifying its learning curve, making its sprawling array of capabilities and processes accessible even to new asset management businesses. It is also an outlier among the rest in that it features 24/7 tech support as well as support for virtual hosts and machines.
Frequently Asked Questions
What Is Asset Management Software?
Businesses use asset management software (AMS) to optimize asset efficiency while minimizing the cost of lost or underutilized assets. Asset management software automatically collects all assets data and compiles reports the business can use to optimize their use. A well-implemented asset management software system provides the business with in-depth visibility into every asset inside its environment.
How Does Asset Management Software Work?
Asset management software collects and compiles data on all assets for tracking through their entire lifecycles. As an asset moves through its lifecycle, AMS tracks its location, who's using it, as well as its downtime and uptime. Automated reports provide management with critical data and an analysis of each asset.
Why Is Asset Management Software Important?
Without tracking their assets, businesses can't know what they own and what it costs them. When implemented properly, AMS can lower the administrative costs of tracking assets, reduce human errors, and save the business time and resources that can go toward revenue-generating functions. It can also provide the framework for holding employees accountable for the proper handling of assets as well as deep insights into business performance.
How Much Does Asset Management Software Cost?
Pricing for asset management software varies depending on the features offered and the pricing method. Some AMS providers base their pricing on the number of users, while others base it on the number of assets or a combination of the two. So it depends on what you are looking for in an AMS system.
How Does Asset Management Software Help With Audits?
All organizations—private and public—must keep accurate asset records. Asset management software provides businesses with a streamlined process for tracking assets with efficient data management. AMS delivers complete visibility into asset costs, usage, and return on investment for improved business performance insights. It can also track depreciation for tax purposes and determine the useful business life of an asset.
Choosing the right asset management software can be daunting. There are many moving parts within an AMS program, and programs can vary widely in their feature sets and pricing. Your challenge begins with having to choose from more than two dozen AMS providers.
To narrow your choices to the best AMS programs, we considered several key factors, including ease of setup, ease of operation, standard features, mobile capabilities, reporting, and pricing. Ultimately, you should choose the right AMS program based on these key factors and, more importantly, whether the program applications are suitable for your specific business needs.