Best Asset Management Software Shortlist
Here’s a quick breakdown of the top asset management software that I’ll cover in this article, with detailed summaries below:
- Freshservice - Best for managing IT assets and fixed assets
- Asset Panda - Best for advanced inventory management
- HxGN EAM - Best enterprise asset management software to extend asset life cycle
- AssetCloud - Best for managing identical software assets
- Bynder - Best digital asset management tool for scalability
- EZOfficeInventory - Best budget-friendly fixed asset management tool
- NinjaOne - Best ITAM for managed service providers
- Flexera - Best ITAM for large organizations
- AssetTiger - Best user-friendly physical asset management
- ManageEngine Mobile Device Manager Plus - Best for managing corporate mobile devices
- NetSuite - Best for financial reports of asset depreciation and leased equipment
- Snipe-IT - Best ITAM customization with an open API
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.
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1. Freshservice - Best for managing IT assets and fixed assets
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.
Pricing: From $19/user/month
Free Trial: 21-day free trial.
Pros
- User-friendly platform
- Mobile app for barcodes or QR code scanning
Cons
- API can be a bit complicated
2. Asset Panda - Best for advanced inventory management
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.
Pricing: Pricing upon request.
Free Trial: Free demo.
Pros
- Asset kitting to bundle related equipment
- Role-based permissions to protect sensitive data
- Unlimited fields and configuration options
Cons
- Takes some time to learn the platform
- Difficult to set up new users
3. HxGN EAM - Best enterprise asset management software to extend asset life cycle
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.
Pricing: Pricing upon request.
Free Trial: Free trial available.
Pros
- Great for extending lifespan of fleets, equipment, and facilities
- AI-driven insights to help in autonomous decision-making
Cons
- Not many integrations available
4. AssetCloud (Wasp) - Best for managing identical software assets
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.
Pricing: From $82.91/user/month (charged annually).
Free Trial: 15-day free trial.
Pros
- Makes it easy to manage identical asset classes
- 25 pre-built inventory tracking reports
Cons
- Initial setup is time-consuming
- Performance issues with mobile app
5. Bynder - Best digital asset management tool for scalability
Bynder is a leading digital asset management (DAM) tool that’s used by Canon, Puma, Spotify, and other world-famous brands. The platform is best suited for organizations in the process of scaling to help track their digital assets.
Why I picked Bynder: I like how the platform lets managers automate creative workflows with customizable approval paths and versioning. In my opinion, the platform’s branded templates are handy to help creative and marketing teams design new assets right on the platform.
Bynder Standout Features and Integrations:
Standout features include AWS global services, which, to me, is a strong foundation for organizations looking to scale without fear of their DAM breaking down. I also like how you have access to a video studio to easily edit different marketing assets. Plus, the platform comes equipped with a collaborative dashboard that graphic designers can use to automatically alter assets.
Integrations include BloomReach, TYPO3, Google Workspace, Google Analytics, Wrike, Drupal 7, Drupal 8, Hootsuite, and Microsoft Active Directory.
Pricing: Pricing upon request.
Free Trial: Free trial available.
Pros
- Quick onboarding
- Branded templates for congruent design
- Create and manage assets directly in the platform
Cons
- Can sometimes load slowly
- Customer support could be improved
6. EZOfficeInventory - Best budget-friendly fixed asset management tool
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.
Pricing: From $35/month (unlimited users and 250 assets).
Free Trial: 15-day free trial.
Pros
- Great value
- User-friendly platform
- Asset availability calendar for easy reservation
Cons
- The mobile app can be a bit buggy
- No inventory retail management
7. NinjaOne - Best ITAM for managed service providers
NinjaOne is a leading ITAM for managed service providers (MSPs). The tool is great for CTOs and IT managers looking to manage client assets and IT needs all in one place.
Why I picked NinjaOne: I like how the tool offers a complete toolkit for small IT teams and IT managers to manage, monitor, secure, and improve servers, network devices, laptops, and workstations. I think the best part of the platform is just how easy it is to use even if you have a wide variety of clients or IT to manage.
NinjaOne Standout Features and Integrations:
Standout features include up-to-date software and hardware inventories on every device. I particularly like how the health monitoring of servers, laptops, and other devices is super simple. Any small IT team will benefit from using it. You can remotely manage every device, whether Windows or Mac, without interrupting end users.
Integrations include Splashtop, Connectwise, TeamViewer, Bitdefender, SentinelOne, Webroot, Malwarebytes, OneLogin, and Okta.
Pricing: Pricing upon request.
Free Trial: 14-day free trial.
Pros
- User-friendly platform
- Automation to help reduce ticket volumes
- Take control over devices with simplified remote access
Cons
- Notifications and alerts can be overwhelming sometimes
- Reporting isn’t very customizable
8. Flexera - Best ITAM for large organizations
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.
Pricing: Pricing upon request.
Free Trial: Free demo available.
Pros
- Software requests
- Automatic lifecycle management
- Data-driven insights into contract management
Cons
- Can be pretty pricey
- Complex setup
9. AssetTiger - Best user-friendly physical asset management
AssetTiger is an asset management platform that helps you track your fixed assets in a user-friendly way. Their tool lets you add unlimited users, get set up quickly, and turn your smartphone into a digital asset scanner thanks to its intuitive mobile app.
Why I picked AssetTiger: The platform makes it easy for anyone to get started with asset management. It features a user-friendly check-in and check-out system to reserve assets quickly and efficiently. I like how you can reserve different assets in advance right from your phone.
AssetTiger Standout Features and Integrations:
Standout features include advanced reports to track asset status (by depreciation, check-out times, and maintenance requirements). In my opinion, the tool is one of the best on the market in terms of being able to create custom reports like inventory status and overall usage. Another great feature is the alerts managers can set up to notify them to check on contract due dates.
Integrations aren’t available yet.
Pricing: From $10/month (up to 500 assets and unlimited users)
Free Trial: Free plan available.
Pros
- User-friendly platform
- Store contracts and licenses in a single place
- Easily schedule equipment maintenance
Cons
- Not third-party integrations available yet
- Can’t customize fields much
10. ManageEngine Mobile Device Manager Plus - Best for managing corporate mobile devices
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.
Pricing: From $41.25/month (on-premise with 50 devices, paid annually).
Free Trial: 30-day free trial.
Pros
- On-premise and cloud-based services available
- Lost or stolen phones can have company data wiped remotely
- Tracks app usage
Cons
- User interface can be a bit tricky to navigate
- Cloud-based version can be buggy
11. NetSuite - Best for financial reports of asset depreciation and leased equipment
NetSuite is a top-of-the-line enterprise resource planning (ERP) software. An ERP is software that provides the most common core business processes needed to run an organization such as HR, finance, manufacturing, services, and asset management.
Why I picked NetSuite: I chose NetSuite for its ability to help organizations track depreciating assets and leased equipment like vehicles, buildings, and machinery. In my opinion, the platform is also one of the most practical, time-saving solutions to take on a variety of business functions like HR and finance.
NetSuite Standout Features and Integrations:
Standout features include industry-specific software versions to generate customized reports and insights depending on your specific business needs. I think its out-of-the-box functionality is some of the best for a multi-tool like an ERP. To me, fixed asset tracking for leased equipment and depreciation is a great solution to bring your tech department clarity on where you stand financially.
Integrations include Versapay, RF-SMART, Shopify, WooCommerce, HubSpot, Freshdesk, Salesforce, Magento, and Amazon.
Pricing: Pricing upon request.
Free Trial: 14-day free trial.
Pros
- Industry-specific versions
- Customizable reporting
- Automatic software updates
Cons
- Time-consuming onboarding
- Pricey compared to alternatives
12. Snipe-IT - Best ITAM customization with an open API
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.
Pricing: From $39.99/month (Hosted version)
Free Trial: Free version available.
Pros
- Open-source offers impressive customization options
- Great for managing IT assets on the go
- Can integrate with barcode and QR code readers
Cons
- The software has a steep learning curve
- The search function can be confusing
Other Options
Here are a few more options that didn’t make the payroll services shortlist but are still worth considering:
- GoCodes - Best ITAM for construction and schools
- MaintainX - Best for maintaining physical equipment
- Zoho - Best for integrating with other Zoho tools
- SysAid IT Asset Management - Best for on-site hosting
- GLPI - Best simple open-source asset tracking
- Zluri - Best for SaaS management
- Sapphire - Best AI-powered ITAM
- Xyicon - Best ITAM for multiple locations
- TOPdesk - Best visual ITAM
- InvGate Assets - Best ITAM for startups
- 4ALLPORTAL - Best DAM for OCR text recognition
- Wedia - Best marketing asset management for copyrights and licenses
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:
What are examples of assets that an asset management software helps manage?
Why do I need software asset management?
How do you keep track of IT assets?
Other IT Tech Software Reviews
Looking for more tech tools and systems? Here are a few more software reviews from The CTO Club Team:
- Cloud Platform as a Service
- API Tools
- Cloud Storage Software
- Virtualization Software
- Infrastructure as Code Tools
- PaaS Services
- Cloud Security Tools
- Devops Monitoring tools
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.
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