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Assets are invaluable in any organization.

While the idea of an asset is quite broad, it refers to anything in your business that’s used to store or produce more value — including both the physical and intangible assets your company owns.

Properly managed assets can empower your company to grow, optimize productivity, and improve profit margins. However, poor asset management can hurt your organization by hindering growth and adding unnecessary costs.

Keep reading to explore the best asset management software in 2023.

What Is Asset Management Software?

Asset management in business is a systematic process to acquire, maintain, upgrade, and discard organizational assets.

Asset management is broken down into two main categories: tangible assets and intangible assets. Tangible assets include any physical assets like real estate, vehicles, machines, tools, and inventory. Alternatively, intangible assets include software license agreements, intellectual property, databases, operational data, and organizational capital.

The most common asset management software used in businesses small and large includes four main categories: IT assets (hardware and software), fixed assets, enterprise assets, and digital assets.

Overviews Of The Best Asset Management Software For IT Teams

Here’s a summary of the top ten asset management for IT teams to help you understand each tool’s unique features, best use cases, price, and downsides so you can find the right one.

Best for managing global assets in 130+ countries

  • Free demo available
  • Flat rate user pricing, with a free version for businesses with up to 200 people
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Rating: 4.8/5

Deel is a comprehensive platform that integrates HR, payroll, immigration, and people development tools, making it a versatile solution for businesses of all sizes. In addition to these core functions, Deel offers a robust IT suite that addresses the challenges of managing IT operations for a distributed workforce. 

Why I picked Deel: As a platform that manages IT operations in over 130 countries, Deel IT provides a unified solution for the procurement, deployment, tracking, and recovery of IT assets. Its unique combination of local expertise and global infrastructure allows companies to navigate complex regulations and logistics, ensuring that equipment is delivered quickly and securely. With real-time visibility and control over all IT assets, including those owned or leased from other vendors, Deel helps IT teams manage their global inventory efficiently.

Deel Standout Features and Integrations:

Standout features include a fully automated device setup process, where devices are pre-configured with necessary apps, software, and security controls before reaching employees. It also provides comprehensive support with global service-level agreement (SLA) backed repairs, loaner devices, and 24/7 support. Additionally, the platform's device refresh and upgrade automation feature ensures that equipment stays up-to-date.

Integrations include Microsoft Azure Active Directory, Okta, Google Workspace, Slack, Microsoft Teams, BambooHR, Workday, and SAP SuccessFactors.

Pros and cons

Pros:

  • Supports equipment deployment in over 130 countries
  • Helps automate asset workflows
  • HR and IT asset management in one

Cons:

  • Doesn't offer features beyond device management, like network and server management
  • May not be ideal for teams with very complex IT asset needs

Best for managing IT assets and fixed assets

  • 21-day free trial
  • From $19/user/month (billed annually)
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Rating: 4.6/5

Freshservice is one of the leading IT asset management platforms (ITAMs) in the world. The ITAM helps CTOs keep their IT assets under control, such as hardware and software, including fixed assets like vehicles and machines

Why I picked Freshservice: It’s one of the easiest platforms to use when you’re wanting to track all of your software, SaaS, computers, devices, and keep them maintained without much work.

Freshservice Standout Features and Integrations:

Standout features include automated reminders to enable proactive maintenance scheduling. This helps save a ton of time when you're wanting to keep your assets up-to-date and to improve asset life cycles. The platform helps with forecasting future maintenance and costs to help manage expenses to improve your profit margins. Plus, you can manage your inventory, purchase orders, and relationship mapping.

Integrations include Dropbox, Jira, Freshdesk, Bomgar, CloudWatch, Quickbooks, Zapier, Zoom, Freshbooks, and Microsoft Teams.

Pros and cons

Pros:

  • Mobile app for barcodes or QR code scanning
  • User-friendly platform

Cons:

  • API can be a bit complicated

Best for real-time remote asset monitoring and management

  • Free trial available
  • From $129/user/month (billed annually)
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Rating: 4.6/5

Syncro is a comprehensive platform designed to assist Managed Service Providers (MSPs) in managing their clients' IT systems efficiently. It offers features like remote access, RMM tools, PSA software, and security integrations.

Why I picked Syncro: Syncro allows users to remotely monitor organizational devices and assets in real-time, providing alerts when issues arise. This proactive approach ensures that potential problems are identified and resolved before they escalate. Additionally, the software supports automated remediation, enabling actions such as ticket creation, SMS notifications, and script execution to be performed automatically when an alert is triggered.

Syncro Standout Features and Integrations:

Standout features include a robust IT ticketing system that can be customized to fit specific business workflows, AI-powered ticket management that intelligently routes tickets and provides technicians with relevant information to resolve issues, and PSA features that include flexible invoicing and payments, helpdesk functionalities, back-office automation, and detailed reporting. 

Integrations include Acronis, Bitdefender, Proofpoint, Splashtop, Webroot, Worldpay (Element Express), Atera, Autotask, Cyberfish, Domotz, Emsisoft Anti-Malware, Flowroute, Hudu, Huntress, Invarosoft, and MailChimp.

Pros and cons

Pros:

  • User-friendly interface
  • Scales well with business growth
  • Robust automation features

Cons:

  • Ticketing system could be more robust
  • Lacks customization options for dashboards and reporting

Best budget-friendly fixed asset management tool

  • 15-day free trial
  • From $35/user/month (billed annually)
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Rating: 4.4/5

EZOfficeInventory is fixed asset management software that allows you to keep track of your inventory, machinery, tools, vehicles, and more. The budget-friendly tool is great for small businesses looking for adequate software that fits within their budget.

Why I picked EZOfficeInventory: I consider this platform one of the best value asset tracking platforms available. While it isn’t the most robust platform, it offers everything a small business needs to track fixed assets efficiently, and it does it with a user-friendly platform.

EZOfficeInventory Standout Features and Integrations:

Standout features include both web-based and mobile asset management. You can track inventory, equipment, tools, and even depreciation with the platform. I like how it also comes with a user-friendly mobile app that lets users track and manage fixed assets on the go. It lets you scan QR, RFID, or barcodes from anywhere.

Integrations include Google Suite, Zendesk, and Zendesk Sunshine, Jira Service Desk, PingIdentity, Okta, OneDrive, and OneLogin.

Pros and cons

Pros:

  • Asset availability calendar for easy reservation
  • User-friendly platform
  • Great value

Cons:

  • No inventory retail management
  • The mobile app can be a bit buggy

Best for advanced inventory management

  • Free demo available
  • Pricing upon request
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Rating: 4.1/5

Asset Panda is an all-in-one asset management platform that allows you to track a variety of assets including IT assets, fixed assets, and more. The IT asset management platform features advanced inventory management techniques, which is perfect for organizations with thousands of SKUs.

Why I picked Asset Panda: I like how the software lets you bundle related equipment together in its asset-kitting system. Plus, its custom barcode creator allows you to easily add in new inventory in seconds.

Asset Panda Standout Features and Integrations:

Standout features include maintenance tracking, tool tracking, leased equipment tracking, and more. I consider this software to be one of the most versatile there is in terms of comprehensive asset management. I like how the platform can be customized to a wide range of industries like healthcare, construction, education, government, and nonprofits.

Integrations include Microsoft Active Directory, Azure Active Directory, Okta, OneLogin, Zendesk, ServiceNow, Lansweeper, and Google Workspace.

Pros and cons

Pros:

  • Unlimited fields and configuration options
  • Role-based permissions to protect sensitive data
  • Asset kitting to bundle related equipment

Cons:

  • Difficult to set up new users
  • Takes some time to learn the platform

Best for managing corporate mobile devices

  • 30-day free trial + Free plan available (up to 25 devices)
  • $495/50 devices (billed annually)

ManageEngine Mobile Device Manager Plus is a practical asset management system created specifically to organize and manage all mobile devices within your organization. The Mobile Device Management (MDM) software is designed to manage smartphones, laptops, tablets, desktops, and more with software management included.

Why I picked ManageEngine: One of the most common fixed assets that organizations manage is mobile devices. I chose ManageEngine because they dedicate their entire software to this division of asset management to make it easy to organize, reserve, and secure the most vital tool of any business: smartphones.

Freshservice Standout Features and Integrations:

Standout features include setting company-wide restrictions, compliance with company policies on each device, and silently installing approved apps automatically. I like how accessible the software is as you can use it on any operating system like iOS, Android, Windows, Chrome OS, macOS, and iPad OS. One unique feature is the ability to remotely wipe all company data from the phone in the event of the device being lost or stolen.

Integrations include Zendesk, Zoho Creator, Zoho CRM, ServiceNow, and Spiceworks.

Pros and cons

Pros:

  • Tracks app usage
  • Lost or stolen phones can have company data wiped remotely
  • On-premise and cloud-based services available

Cons:

  • Cloud-based version can be buggy
  • User interface can be a bit tricky to navigate

Best for managing identical software assets

  • Request a free quote, a free demo, and a free trial
  • From $995/user/year

AssetCloud by Wasp Barcode Technologies is a great tool organizations can use to track both software and fixed assets. Used by IBM, Lockheed Martin, Mercedes Benz, and Sony, the platform can help you if you use a variety of identical assets.

Why I picked AssetCloud: I like how the asset management tool includes a work order and maintenance system you can use to assign work orders to more than one person at a time. You can include a few assets and tasks into a single work order at once, as this means you don’t need to create multiple work orders if you have plenty of identical units.

AssetCloud Standout Features and Integrations:

Standout features include a multi-quantity asset feature to track identical groups of assets. You can choose between two configurations: cloud-hosted or self-hosted, to align the platform to your needs. The platform also allows you to purchase supporting items like label printers, tags, and scanners to help manage fixed assets.

Integrations include Zapier, HubSpot, Google Workspace, Slack, Mailchimp, Twitter, Facebook Lead Ads, Trello, and Calendly.

Pros and cons

Pros:

  • 25 pre-built inventory tracking reports
  • Makes it easy to manage identical asset classes

Cons:

  • Performance issues with mobile app
  • Initial setup is time-consuming

Best ITAM customization with an open API

  • Free version available.
  • From $39.99/month (Hosted version)

Snipe-IT is the most popular open-source ITAM on the market. The software provides businesses with the ability to manage software, licenses, hardware, consumables, and more. The platform’s open-source code allows businesses to easily customize the maintenance, upgrades, and security of their software and hardware assets.

Why I picked Snipe-IT: I chose Snipe-IT because of its ability to allow you to customize the software to your needs. Its open-source design lets you modify the software to your liking so you can better manage your IT inventory like licenses, software, computers, smartphones, and more.

Snipe-IT Standout Features and Integrations:

Standout features include a clean dashboard to give you an overview of the most recent asset activity, such as a license renewal, a computer checked-out by an employee, or a notification on an upcoming license expiry. One thing I think will be very beneficial to those looking for a custom solution is the REST API included in the software. It can help you integrate the app within your own system to help you streamline IT assets management right into your current workflow.

Integrations include LDAP and Active Directory, and the tool has an open API for advanced integration options.

Pros and cons

Pros:

  • Can integrate with barcode and QR code readers
  • Great for managing IT assets on the go
  • Open-source offers impressive customization options

Cons:

  • The search function can be confusing
  • The software has a steep learning curve

Best enterprise asset management software to extend asset life cycle

  • Free trial available
  • Pricing upon request

HxGN EAM is a top-of-the-line enterprise asset management (EAM) tool. With 30+ years of experience in asset management, the platform can help large organizations extend the life cycle of their assets with the software.

Why I picked HxGN EAM: I like how the platform is equipped with a variety of lifecycle extension tools like the risk management features, asset performance management (APM) tool, and more, to help extend the lifespan of assets.

HxGN EAM Standout Features and Integrations:

Standout features include artificial intelligence (AI) and machine learning (ML) to give users insights into the condition of the organization’s assets. I like how there are also industry-specific versions of the software for healthcare, manufacturing, energy, and more. The platform can also help you improve the lifespan of your assets with integrated analytics and case management features.

Integrations include Microsoft (MS) Project, Oracle, and Excel.

Pros and cons

Pros:

  • AI-driven insights to help in autonomous decision-making
  • Great for extending lifespan of fleets, equipment, and facilities

Cons:

  • Not many integrations available

Best ITAM for large organizations

  • Free demo available
  • Pricing upon request

Flexea is a robust SaaS-based IT asset management tool that’s targeted towards large organizations with mature ITAM processes. The software is primarily used to mitigate IT and security risks and reduce costs through efficient asset management.

Why I picked Flexera: Flexera is a comprehensive ITAM that can do a lot for large organizations. I chose it because it offers enterprise businesses either cloud or on-premise versions of the software. The customization capabilities make it easy to configure the platform to your liking to help keep costs low and productivity up.

Flexera Standout Features and Integrations:

Standout features include a massive entitlement library that automates effective licensing positions (ELP). I think this feature is great because it can help reduce costs without the need to manually track all of your software licenses to ensure you’re compliant.

Integrations include ServiceNow, Microsoft System Center Configuration Manager (SCCM), Snow Software, and BMC Helix.

Pros and cons

Pros:

  • Data-driven insights into contract management
  • Automatic lifecycle management
  • Software requests

Cons:

  • Complex setup
  • Can be pretty pricey

The Best Asset Management Software For IT Teams

Tools Price
Deel Flat rate user pricing, with a free version for businesses with up to 200 people
Freshservice From $19/user/month (billed annually)
Syncro From $129/user/month (billed annually)
EZOfficeInventory From $35/user/month (billed annually)
Asset Panda Pricing upon request
ManageEngine Mobile Device Manager Plus $495/50 devices (billed annually)
AssetCloud From $995/user/year
Snipe-IT From $39.99/month (Hosted version)
HxGN EAM Pricing upon request
Flexera Pricing upon request
Compare Software Specs Side by Side

Compare Software Specs Side by Side

Use our comparison chart to review and evaluate software specs side-by-side.

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Selection Criteria For Asset Management Software

Here’s a summary of the main selection and evaluation criteria I used to curate my list of the best asset management software in 2023:

Core Functionality

While assessing the different asset management tools, I wanted to ensure they provided a few core components:

  • Track all software licenses
  • Store key data on software or hardware
  • Mobile device management
  • License expiration notifications

Keep in mind, this core functionality is only applicable to IT asset management software, so not all functions will apply to other asset management software types, like fixed asset management, digital asset management, and enterprise asset management.

Key Features

When analyzing the best asset management platforms on the market, there are a few key features that I had in mind. Most of the (ITAM) software listed above come equipped with most of these features:

  • Software License Management: Software licensing management is the management, documenting, and tracking of software used in an organization. It’s important a tool has this ability so you can track whether the right licenses are being used on the correct terms to maximize your profit margins.
  • Notifications and Alerts: Every asset management platform should feature some type of alerts or notifications. This is especially important when it comes to maintaining licensing or software. However, many tools also include notifications when physical assets like hardware or machinery need to be updated, maintained, or replaced.
    Hardware Asset Tracking: Just as it's important to track intangible assets like software or licenses, companies need to know how they’re hardware is doing. This means being able to know when it’s time to update, upgrade, or replace tech like company laptops, smartphones, servers, and more.
  • Asset Lifecycle History: Another key component of asset management tools is the ability to take a look into an asset’s history. When was it created? Where was it sourced from? How much did it cost to purchase? When was it last updated or maintained?

Usability

Asset management software can be quite complicated if you’re not super tech-savvy. While it’s expected that someone with a tech background will likely be managing it, it’s important that the software is still easy to navigate.

For the list above, I gave preference to asset management software that can be easily adopted by anyone, whether you're a renowned CTO, a non-techy C-suite executive, or a new employee with no tech background who’s looking to check out a new asset at work.

Platforms that offer portals or the ability to set user permissions and access are crucial. If a platform has different versions based on industry (i.e. construction, healthcare, etc.) it also was given preference.

Anyone who needs to access the software needs to know what they’re looking for, so simplified and specific versions of the platform should be available to any employee in the organization.

Price

Asset management software pricing can vary quite a bit, especially if you’re a medium or enterprise business. However, it’s expected that most software will cost a few hundred dollars per month. Most asset management solutions don’t list their pricing publicly. It’s challenging to find basic or tiered pricing for most ITAMs, in particular. However, you can usually find software for as little as $39 per month and upwards of a few hundred dollars per month.

Software Integrations

Any asset management software you add on should gel relatively easily with your current software tool kit. The software asset management platform you choose should be able to work well within at least a few of your current business tools.

People Also Ask

Here are a few answers to some of the most common questions regarding asset management software:

Other IT Tech Software Reviews

Looking for more tech tools and systems? Here are a few more software reviews from The CTO Club Team:

Best Practices for the Best Tools

As a CTO or tech leader, it can be a challenge to keep track of all of your company’s assets, especially as you scale.

Trying to keep everything organized, maintained, and under close watch can be a real challenge, even with years of experience. Thankfully, you can take a major weight off your shoulders when you have the right asset management tool on hand.

To learn more about the latest tech insights and tools from experts in the industry, sign up for The CTO Club newsletter.

Paulo Gardini Miguel
By Paulo Gardini Miguel

Paulo is the Director of Technology at the rapidly growing media tech company BWZ. Prior to that, he worked as a Software Engineering Manager and then Head Of Technology at Navegg, Latin America’s largest data marketplace, and as Full Stack Engineer at MapLink, which provides geolocation APIs as a service. Paulo draws insight from years of experience serving as an infrastructure architect, team leader, and product developer in rapidly scaling web environments. He’s driven to share his expertise with other technology leaders to help them build great teams, improve performance, optimize resources, and create foundations for scalability.