In this post, we are comparing the best IT asset management software.
Best IT asset tracking software to manage your organization’s assets. Choose an asset-tracking tool from the list below.
Do you want to be aware of the condition of your assets precisely every time? If yes, you should try Asset Management Software. An enterprise is nothing without its assets, and it’s crucial to manage assets effectively. IT asset management software helps you to document your hardware and software inventory.
Well, it’s not limited to this one thing; the IT asset management software can do a lot more. If you want to control each inventory operation and information, this software helps you in doing so. If you are confused about selecting the best asset management tool, continue to read this article to find the solution to your confusion.
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What Is IT Asset Management Software?
- 1 What Is IT Asset Management Software?
- 2 IT Asset Management Software Features
- 3 Best IT Asset Management Software of 2023
- 3.1 #1.ManageEngine AssetExplorer
- 3.2 #2. Infor EAM
- 3.3 #3. IBM Maximo
- 3.4 #4. SAP EAM
- 3.5 Price
- 3.6 #5. Oracle EAM
- 3.7 #6. Aveva Enterprise Asset Management
- 3.8 #7. SolarWinds Service Desk
- 3.9 #8. Device 42 Asset Management
- 3.10 #9. Alloy IT Asset Management Software
- 3.11 #10. Axios system assist
- 3.12 #11. GroWrk Remote IT Asset Management
IT Asset Management (ITAM) is “a set of business practices that consolidate IT assets across business units within an organization. It combines financial, inventory, contract, and risk management responsibilities to manage the entire lifecycle of these assets, including tactical and strategic decisions.”
It is also referred to as IT inventory management because it collects detailed hardware and software inventory information commonly used to decide how to purchase and use assets. An accurate inventory of IT assets can help businesses use their assets more effectively and reuse existing resources to avoid unnecessary asset purchases.
Simply put, IT Asset Management software helps users document their IT hardware and software inventory. The primary purpose of ITAM products is to create and maintain a database of digital, physical, and virtual components throughout the company.
ITAM solutions often include the ability to manage inventory-related contracts, finances, and risk. Companies use these tools for various reasons, including asset tracking, hardware maintenance, software patching, and policy governance. ITAM software ensures that each connection is approved, properly formatted, and updated to reduce security risks.
IT Asset Management Software Features
IT asset management tools should have many features because it is the essential software that handles inventory management. However, here we illustrated some critical features of the IT asset management system.
1. Asset lifecycle management
Many IT asset management systems offer effective asset lifecycle management. This feature is designed to maximize an organization’s fixed assets’ lifecycle, from acquisition and use to retirement.
2. Inventory Management
Inventory management becomes handy for warehouse operations. It can help you track, manage, and control all your inventory from a single dashboard. It allows businesses to see inventory levels at a glance and be notified when parts and supplies are running low.
3. Tracking technology
To manage your inventory effectively, you need to track your assets efficiently. Asset tracking is part of inventory management. Many asset-tracking software features provide barcode, RFID, and Bluetooth tracking, and the software is used with scanning devices.
4. Asset check-in and check-out
This software feature is handy for tracking the location of assets as they move from department to department. For example, if a company has hundreds of mobiles, you need to know where everyone is and who uses them.
Computer Maintenance Management System (CMMS) helps to perform regular maintenance on the company’s assets. Maintenance Management is a crucial feature you will find in CMMS software. It allows users to plan preventive actions and periodic inspections, avoiding unexpected and costly downtime and ultimately freeing up post-maintenance.
Work order management
The best asset management software functions are related to work order management and are closely linked to maintenance management functions. Work order management centralizes work requests, providing visibility to the entire maintenance team
6. One centralized system
If your business continues to grow, it may make sense to use an asset management software solution that integrates business functions such as finance and HR. The IT asset management tool also allows businesses to see a holistic view of all company assets and understand their impact on different business areas.
7. Asset discovery
Asset discovery is primarily used by IT Asset Management software. This feature helps to identify all assets within the same network. For example, you can determine which software is installed on which device. It can also help diagnose faults in your IT equipment and prevent malware threats before becoming a problem.
8. IT help desk management.
The faster your business grows, the busier your IT department can be. So, for employees to do their jobs effectively, they must have access to the IT equipment they are working on. The IT help desk management function aims to centralize support requests so that IT technicians can prioritize issues and respond to them accordingly.
9. Cloud-based and mobile-friendly
For asset management and maintenance, the software’s ability as an app in the cloud is useful for businesses of all sizes. It means that designated employees do not need to be on-site to access and update essential information related to business assets.
Best IT Asset Management Software of 2023
ManageEngine AssetExplorer is comprehensive IT asset management (ITAM) software that helps IT teams discover, scan, track, and manage IT and non-IT assets over their entire life cycle, from purchase and assignment to retirement and disposal. It also offers an integrated CMDB that helps organizations of all sizes map their IT infrastructures and track critical relationships on a visual canvas.
AssetExplorer’s powerful agent-based asset discovery capabilities help IT administrators scan domains, networks, and remote assets, bringing every asset and its pertinent information into a single database. Asset managers can track and govern asset usage in their organizations through out-of-the-box and custom asset states. Every update to an asset is captured as part of that asset’s history, ensuring transparency in asset handling across the organization.
Organizations can also stay on top of their software footprint and compliance status by tracking software installations, available licenses, and compliance with license agreements. It helps pinpoint unlicensed installations, thereby preempting adverse software audits. IT teams can also fortify their IT estate by spotting prohibited software installations on corporate workstations.
AssetExplorer establishes clarity during financial audits by bringing together purchase and contracts management on a single ITAM console. AssetExplorer packs automated alerts for expiring contracts and asset loans, making it easy for IT teams to keep tabs on a multitude of activities.
Organizations will also benefit from over 40 pre-built reports that provide a snapshot of the state of asset management in an organization. Asset managers can optimize their spending and plan their IT budgets better by tracking crucial ITAM KPIs and metrics on a visual dashboard.
AssetExplorer’s ITAM capabilities are also available within ServiceDesk Plus, ManageEngine’s unified service management platform. ServiceDesk Plus helps service teams design, deliver, manage, and optimize IT and enterprise services. Its ITAM capabilities work in synergy with other ITSM practices such as incident, problem, and change management, helping establish rich context and high operational efficiencies.
- Agent-based asset discovery
- Inventory management
- Asset life cycle management
- Software license management
- Purchase management
- Contracts management
- Remote control
- ManageEngine UEM integrations
- Starts at $995/year for 250 IT assets
#2. Infor EAM
Infor EAM is one of the best asset management software in the market. It provides comprehensive functionality within the EAM tool to improve capital asset management. It aims to increase reliability, enhance predictive maintenance, ensure regulatory compliance, reduce energy usage, and support sustainability initiatives.
Available in an industry-specific version, it gives users unparalleled flexibility to focus on specialized industry requirements that can turn your company’s efforts here into a competitive advantage.
More than computerized maintenance software (CMMS), Infor’s EAM tools allow businesses to analyze data on key trends and anomalies, predict stability issues, and make forward-looking decisions that deliver improved revenue results.
This solution from Infor provides full functionality for ALM and provides monitoring, tracking, and analysis capabilities. It allows users to view asset movements by creating a family tree that shows the relationships between equipment, parts, components, and locations.
Infor’s EAM system helps optimize asset life by integrating information related to costs, depreciation, warranties, billing, and more. This EAM application can be deployed on-premises, in the cloud, or as a hybrid solution.
Infor EAM is an overall robust solution that provides built-in tools for in-depth asset profiling to mitigate risk and ensure compliance. Users can also assign barcodes and labels to simplify asset tracking, warranty activation, and more.
- Highly Configurable
- Scalable and dynamic
- Asset Maintenance management
- Easy to deploy
- Ask Infor EAM for a Price quote.
#3. IBM Maximo
IBM Maximo is a comprehensive tool for asset management on a common platform in an asset-intensive industry. It provides built-in mobile access, ready-to-use mapping, crew management, and analytics insights.
Moreover, to meet the manufacturing and facilities requirements with Core Maximo, IBM has developed specific industry solutions for core asset-intensive industries. With Maximo, you can maintain any asset type on-premises or in the cloud, check the status in real time, and streamline global operations from procurement to contract management.
This IT asset management system provides 360-degree tracking. Asset management is Maximo’s core module. Provides a centralized information system to track movement, failure, and performance across the enterprise. IBM Maximo ensures compliance by allowing users to create workflows and manage asset performance throughout their lifecycle.
Users can also use IBM Maximo to create templates for generating custom reports. The system helps users schedule maintenance activities and provides reports on outages, outages, and handling, improving the response time to errors, increasing operational efficiency.
IBM Maximo also tracks production, IT, facilities, etc. It allows users to develop preventive and predictive maintenance programs, increase asset uptime, and reduce unplanned maintenance. This solution will enable users to create hierarchies, assign properties, and build and manage warranties. IBM Maximo EAM can be deployed in the cloud or on-premises.
- Equipment and Machinery management
- Mobile CMMS
- Condition-based maintenance management
- Strong customer support
#4. SAP EAM
SAP EAM offers powerful features and a wide range of functions for business processes from asset purchase to retirement. With SAP EAM, you can build a solid, standards-based foundation for managing your physical assets, whether your business relies on production equipment, power grids, machinery, vehicles, or facilities.
This IT asset management software can help you increase operational efficiencies, improve asset usage, reduce costs, and better manage capital expenditures throughout the lifecycle. SAP software can be deployed on-premises or as a web-based solution.
With SAP, users can simplify the asset management of assets, plants, and equipment. This enterprise asset management tool integrates with ERP and operational technology systems and supports preventive maintenance, asset utilization, remote monitoring, real-time analytics, and more.
Real-time analytics tools that utilize the Internet of Things (IoT) can analyze sensor data and information from CRM, ERP (Enterprise Resource Management), and asset systems and generate automated work orders to improve field service and reduce costs.
The solution provides a holistic view of performance, risk, and cost throughout the lifecycle, along with information related to asset usage, accounting costs, warranties, etc. It allows users to understand increasing ROI and make informed purchasing decisions. You can get off.
SAP EAM also provides powerful maintenance capabilities. This tool consists of asset management and work order management tools to ensure compliance. It helps keep your assets at peak performance by maintaining timely and shortening response times.
With SAP, you can create templates for work processes through Work Clearance Management integration. You can also create a defect tree list for parts or equipment in the asset master list.
- Predictive maintenance
- Mobile EAM
- Asset information & performance management
- 360-degree view of assets
- Advanced Predictive analytics
- Ask SAP’s sales team for a price quote.
#5. Oracle EAM
Oracle EAM provides asset maintenance software to help users drive their strategic planning initiatives. With a complete view of all types of assets and equipment, you can see where each asset and equipment are in its lifecycle and whether it brings value to your business. As part of Oracle SCM, Oracle’s maintenance management solutions can intelligently predict the maintenance required to extend your assets’ life and reduce equipment failures.
This asset management software supports sophisticated conditional maintenance strategies for real estate, plant, and public infrastructure. Oracle can be deployed either in the cloud or on-premises. Oracle EAM’s single instance design ensures compliance with best practices and quality regulations worldwide and helps users eliminate useless spare parts inventory.
This solution also facilitates the maintenance schedule’s adjustment to improve contracted maintenance’s responsiveness and accuracy through convenient workflow management functions. The system provides comprehensive fixed asset lifecycle management capabilities. This platform integrates with Oracle SRM, finance, and project management.
The solution integrates full visibility into the asset hierarchy and allocates parts lists for each. It allows users to track physical assets’ location and movement, check for defects, and view performance against warranty, depreciation, etc. This ITAM solution also helps in monitoring transactions related to work orders and maintenance.
Oracle also offers a powerful maintenance module that supports various requirements, including material, cost, job execution, scheduling capabilities, and template creation. It allows users to create templates for work orders and track availability statistics such as quantity, market value, location, and maintenance history to ensure safety.
- Asset Lifecycle Management
- Work Order Management
- Maintenance Management
- Offer integrations
- Ask Oracle’s Salas team for a price quote.
#6. Aveva Enterprise Asset Management
Aveva is an enterprise asset and maintenance management solution that is designed for midsize and large enterprises. It is a comprehensive solution that provides maintenance management, spare parts, and inventory management and provides complete procurement capabilities for asset-intensive industries.
Users can increase availability by ensuring that the necessary maintenance is performed and maximum results can be achieved on expensive and complicated assets. Based on predefined business processes and best practices, this asset management software offers a unique Rapid Implementation Methodology (InRIM) to minimize employee time investment and reduces implementation risk.
Aveva offers a comprehensive enterprise asset performance management solution. The key is maintenance, repair and operation, spare parts and inventory management, and procurement.
They are powered by state management solutions for actionable predictive maintenance and role-based decision support.
The Aveva suite allows users to create hierarchical relationships between assets and sub-parts and components. This solution will enable users to track and monitor utilization, performance, and costs incurred throughout their lifecycle and use advanced preventive and predictive maintenance tools to create warranty records.
This asset management tool also helps optimize longevity and utilization by reducing downtime and associated costs and improving environmental health and safety and compliance. This solution allows users to collect and analyze valuable asset data for easy monitoring.
- Work & inventory management
- Multi-location support
- Proactive management
- Strong Customer support
- Ask Aveva’s Sales team for a price quote.
#7. SolarWinds Service Desk
Formerly a Samanage service platform, SolarWinds Service Desk is an award-winning fully integrated cloud-based service desk and IT asset management system. With thousands of high reviews in numerous directories, SolarWinds Service Desk is one of the world’s leading IT service management platforms.
It offers automation integration, artificial intelligence, and machine learning to create a state-of-the-art, usable platform to streamline IT support services and enhance employee self-service.
SolarWinds Service Desk provides an easy-to-use and economical ITSM solution for businesses of all sizes. ITSM solutions can quickly scale as your technology infrastructure and business needs evolve.
- Automate ticket routing
- Knowledge base/ticket integration
- Multi-channel access
- Reports and Analysis
- Active Directory
- Team version: $15/month/user
- Business version: $29/month/user
- Professional version: $49/month/user
- Enterprise Version: $69/month/user
#8. Device 42 Asset Management
Device42 software automatically and agentless discovers the entire IT infrastructure, providing comprehensive, accurate, up-to-date insights into any computing environment, including application dependencies.
You can discover hardware, server, and network dependencies without agents wherever you are. This asset management software offers WMI for Windows, SSH for Linux, SNMP for network hardware, native API-based discovery for VMware and F5 load balancers, Netflow, IPMI, and more.
It retrieves all deployed applications, their dependencies, manufacturer, and version information. It also generates dependency diagrams-highlight hardware, software, service, and application dependencies and relationships, including protocols and listening ports.
It offers Powerful and customizable reporting. It is much easy to use Affinity Group, Business Applications, Resource Utilization, and Cloud Recommendation Engine to ensure that your migrations and routine maintenance go hand-in-hand every time.
Plus, you have plenty of choices for immediate integration with your favorite IT and management software, including Jira, Chef, Jenkins, ServiceNow, PowerBI, and more!
- Data visualization
- Device auto-discovery
- Impact management
- Performance monitoring
- Relationship mapping
#9. Alloy IT Asset Management Software
Alloy Navigator is an IT asset management tool that enables organizations of all sizes to manage their IT operations. This solution provides ITIL standards such as change and configuration management with a fully integrated help desk, network inventory, and knowledge base capabilities.
Moreover, Navigator automatically creates meaningful relationships between data while providing a comprehensive view of your IT infrastructure components. Alloy Navigator’s service desk manages tickets, assets, incidents, changes, work orders, and more within a single interface.
Besides, workflow management tools allow users to design custom IT processes that can be modified to suit the business and employees’ specific needs. It also offers an online web portal and a self-service portal for end-users, and a mobile portal for technicians.
Alloy Navigator gives users the ability to audit the entire network with a single click, perform physical inventory with a barcode scanner, and verify compliance with software licensing tools. End-users and administrators can also access interactive dashboards, scheduled reporting, and real-time views for timely analysis.
- Automate ticket routing
- Asset management
- Management console
- Reports and Analysis
#10. Axios system assist
Axios Systems is dedicated to providing innovative IT Service Management (ITSM) and IT Operations Management (ITOM) solutions to help customers improve infrastructure operations and improve service delivery across business functions including HR, facilities management, and finance.
Axios is recognized as a world leader in its global customer base and leading analysts with a 100% focus on service management technology. Assyst, Axios’ enterprise software, is specifically built to transform your IT department into a profitable, business-oriented customer service team.
Built on the ITIL framework, assyst adds real value to each customer’s organization by solving business challenges across the organization. Assyst is certified for all 16 PinkVERIFY™ ITIL processes, and Axios is the first supplier to achieve them within a single solution. Axios is headquartered in the UK and has offices in Europe, America, Middle East, and the Asia Pacific.
- Mobile Workforce tolls
- Service Desk functions
- Easy to use
- Strong Customer Service
- Ask Axios’ Sales team for a price quote.
#11. GroWrk Remote IT Asset Management
GroWrk’s platform is an end-to-end IT asset management solution for globally distributed workforces. Trusted by industry-leading names like ClickUp, Typeform, Quora, and more, GroWrk streamlines the procurement, deployment, and management of IT equipment required in today’s globalized corporate world.
They manage equipment throughout all stages of its lifecycle. It all happens in a single centralized location, the user dashboard. No matter where teams are located, everything is accounted for and easy to pinpoint. This way, teams can automate their IT needs and scale quickly.
Remote teams can equip employees worldwide in a few clicks, recover devices for maintenance or after an offboarding, and store company devices safely. When devices are nearing the end of their useful life, they can be recycled or get buyback options.
- 24/7/365 AI-powered IT support
- Depreciation tracker
- Integrations with HR and IT systems
- Asset tracking
- Maintenance and swaps
These are the best IT asset management software. You can use any of them for the efficient management of your inventories. This software Write to use bout your experience with this asset management software.
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Jitendra Dabhi is content marketer since last 10 years. He is very much interested in writing about technology, software reviews and cybersecurity. He is featured in Entrepreneur.com, HackerNoon.com, ReadWrite.com, TemplateMonster, Tech.co, Tweakyourbiz, YourStory.com, freelancer.com etc.