Buyer's Guide for Top Asset Management Software

Found our list of Asset Management Software helpful? We’re here to help you make the right choice and automate your business processes. Let’s discover some of the essential factors that you must consider to make a smarter decision!

Buyers Guide Content

  1. What is Asset Management Software?
  2. Types of Asset Management Solutions Software
  3. Features of Asset Management Software Solutions 
  4. Benefits of Asset Management Software
  5. What Is Asset Tracking Software?
  6. Latest Asset Management Software Trends

What is Asset Management Software?

Asset management software is a business solution designed to record, track and manage all the assets of an organization. It records all details of an asset in every stage of its lifecycle, from procurement and maintenance to disposal.

An asset management system is crucial for an organization as it helps record, control, and regulate all the assets and document the vital information regarding them. It also tracks components, records maintenance logs, allocations, depreciation reports, compliance reports, and more.

Asset management software integrates all the asset management functions like recording details, categorizing, allocating, and tracking all tangible and intangible assets. It also helps standardize processes, improve operational efficiency and reduce costs of organizations that manage a large number of fixed and current assets.

Types of Asset Management Solutions Software

  • IT Asset Management Software

If the asset is related to IT, for example, if it's hardware or software, it would be considered an IT asset, and the software used to manage them is called IT asset management software. Choosing the best hardware asset management software and the best is essential for all IT companies.

IT asset management software is a dedicated asset management software that goes beyond just recording and tracking fixed assets. It integrates all financial, contractual, and risk management aspects of software, hardware, systems, fixed assets, and other intangible assets. It provides knowledge on every IT asset's efficiency, usability, ROI, etc., to asset managers, helping them make tactical and strategical decisions related to assets.

Major Users: IT Companies, Service Providers, Law/CA firms, etc.

  • Fixed Asset Management Software

This type of software tracks and manages all the fixed assets in an organization. Everything, including accounting, maintenance, and deterrence, is managed with fixed asset management software.

Fixed asset management software manages all the tangible assets of a company throughout its life cycle. It records every financial transaction related to the asset, allocation of assets, authority, maintenance logs, etc. It helps managers plan the asset's replacement in advance, monitor its actual usage against planned usage. The software performs return on investment analysis of assets purchased by the company.

Major Users: Manufacturing Companies, Small Businesses, Nursing Homes, etc.

  • Digital Asset Management Software

Digital asset management software stores and organizes all the digital assets in one location. You can find everything, including pictures, videos, and other media on a single platform.

Digital asset management system tracks all the assets across all different geographical locations in real-time. It also allows to include pictures, videos, and other media with the assets. Digital asset management systems are growing trends and are extremely important for logistics companies, the transport industry, etc

Major users: Universities, Colleges, Media Houses, Logistics Industry, Real Estate Companies

  • Enterprise Asset Management System

Enterprise asset management software covers all aspects of asset management like accounting, maintenance, repair, replacement, etc. It is widely used across most corporates as it can manage all types of assets. The software tracks and records information related to assets and enables users to analyse performance, conduct regular maintenance, and increase efficiency.

Major Users: Financial Institutions, Large Corporates, Coaching Institutes, Hospitals, etc.

Features of Asset Management Software Solutions 

  1. Configuration Database Management: CDB or Configuration Database Management helps businesses record vital configuration details of each asset at a centralized place.
  2. Purchases and Inventory: Every purchase of the asset is captured, and purchase orders can be tracked. The stock of assets can be monitored and evaluated accurately without hassles. One can also define various contract details and rules with the help of inventory management software.
  3. Depreciation: Depreciation of the assets can be evaluated flawlessly and seamlessly tracked to stay updated. Depreciation of the assets can be auto-updated in the integrated accounting module or software.
  4. RFID: RFID tags can be attached to the assets to closely monitor Tagging asset health and service requirements.
  5. License Management: Licenses need to be renewed or re-purchased on time. Asset management software provides a database for license entitlements for under-licensing and over-licensing as well. The license management tool also tracks expiration dates and license terms.
  6. Digital Asset System Management: The asset management system includes processes for storing, organizing as well as retrieving data. The software also manages digital permission and rights. It includes media assets like photos, videos, music, podcast, and various other multimedia content.
  7. Report Generation: The feature of report generation is essential for any software. With asset management software, one can generate detailed pre-defined and custom reports. Query-related reports can also be produced with detailed visual graphs and figures using asset management software.
  8. Work Order Management: Assets should be allocated and tracked to ensure the work orders and projects are executed hassle-free with optimum efficiency. Asset management systems allow you to handle all work orders and allocate assets and other resources accordingly. Work Order management feature allows managers to monitor, assign and track work orders through a single window.
  9. IT Help Desk Management: Using asset management software, employees can submit, track and monitor requests related to IT assets through a centralized portal. It also enables ticket generation, follow-ups, and task delegation for a particular request.
  10. Maintenance Management: Assets need to be scheduled for routine maintenance and repairs for extended life. Maintenance management feature software allows managers to plan a detailed maintenance schedule for every asset based on predefined schedules, priority levels, and production efficiency.
  11. Asset Discovery: Asset Discovery feature of the asset management solutions system lets you find every single asset in your organization, including intangible information. It uses barcode tags, RFID, and QR codes to track every asset of the company.
  12. Asset Usage Tracking: The asset usage tracking feature is crucial to identify the level of wear and tear in assets. It helps managers in assigning required resources for scheduling services. It tracks and records all essential data like every asset's working hour, wastage, units produced, etc.
  13. Complete Lifecycle Management: Asset Accounting feature of asset management software records and logs every transaction related to the asset. It maintains details of asset transactions like procurement costs, additions, taxes, maintained costs, part replacement cost, etc., with all invoices and bills. It also helps in generating accounting ledgers, bills, and invoices related to assets for accounting purposes.

Benefits of Asset Management Software

Reliable asset recovery

If an asset is lost in the sea of other assets, it becomes difficult to trace that out. Both manpower and time are lost in this process, and several delays are caused. You can avoid all this by simply using the best asset management software in India. It has a GPS location tracking tool's feature that helps trace every asset present in the organization.

Real-time customer service

Customers often ask for the location of their assets, that too in real-time. This software lets you keep a tab on the assets at all times. You can give details about the resources or assets with their efficacy to the customers as well.

Increased productivity

An asset's lifecycle can be calculated with asset management software, which in turn increases productivity. Assets are firstly tagged with RFID tags, then they can be tracked automatically in different stages, and dedicated resources are not required to keep an eye on the assets 24x7. In this way, employees can focus on other essential tasks.

Avoid unnecessary maintenance costs

Effective repair or replacement can be planned with asset management software. Since you already have all the information, from start to end, from its buying date to all the records about its maintenance, it becomes easy to avoid additional maintenance costs. Unproductive assets can be taken care of in their earlier stages. Monitor, replace, or repair your assets on time before it's too late.

Track asset maintenance needs

You can track which assets need maintenance and when. With asset management software, it is easier to calculate the cost as well. You can set alerts for maintenance and renewal as and when needed. The inventory software can also be integrated with ticketing software which makes the whole process a lot simpler.

Set thresholds for stock renewal

Asset auditing can also be performed with the help of asset management software. Identifying ghost assets in an organization becomes essential when they increase in numbers. They cause additional maintenance, which is not required. Similarly, if an asset is about to complete its lifecycle, it can be stocked back again. You can even reduce the compliance risks with this software.

Accurate asset-related data

Using asset management software assures that the business has accurate data related to all the assets present. Tracking and auditing at different intervals would enable companies to maintain accuracy. Accuracy is also maintained as everyone in the company can keep an eye on the real-time data about the compliance, audits, and assets on the asset management software.

What Is Asset Tracking Software?

Asset tracking software is an application used to track as well as record assets throughout their lifecycle. This includes processes from their procurement to their disposal. It provides information such as the asset’s location, who all are using it, how efficient it is, and other such details. You can manage both hardware as well as software assets with asset lifecycle management software.

Latest Asset Management Software Trends

  • Beyond Keeping Records: Companies like Ola and Uber are moving their businesses to 100% real-time tracking. Tracking every asset's health, location, operation, maintenance, ROI, etc., of every asset separately in real-time could be a strategic edge over the competitors. Most of the start-ups in India have thriving real-time asset management needs.
  • Transforming into Asset Knowledge Base: Asset management software is moving ahead of just tracking and recording an asset. DAM software is updated as per legal compliance and record, depreciate, and report assets value as per the updated rules. Asset management software now informs users about underutilized and inefficient assets, opportunity cost, deployment strategies, and much more.
  • Increasing Mobility: New-age tech-savvy consumers prefer to work on their smartphones and tablets. Organizations need to also be in a position to provide that option for their employees. This is where mobility features offered by asset management software should match the market trend. This will help organizations secure a competitive edge over other businesses in their industry.
  • Valuation and ROI: The new age of asset management software solutions are built with state-of-the-art techs like AI. Asset management software can now provide precise Net realization Value, Scrap Value, and the remaining life of asset-based on industry standards, asset health, and usage. This cuts down the cost of actuarial services and helps to maintain legal compliance. Also, some AMS can calculate the present ROI and cash flow of every machinery separately, blockwise, and location-wise to provide a knowledge base for decision making.

Author: Kalpana Arya

IT Asset Management Software

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ezAsset

By HCS Technologies

Starting Price

₹8,850/Month

Inclusive of all taxes

EzAsset is a comprehensive, cloud-based asset management software. It helps manage the entire lifecycle of fixed assets... Read More About ezAsset

Freshservice

By Freshworks

4.1 (3 reviews)

Starting Price

₹1,769

Inclusive of all taxes

Freshservice is one of the best IT service desk solutions designed to meet the challenges faced by modern organizations... Read More About Freshservice

Maco Fixed Asset Management

By Maco Infotech

4.6 (1 reviews)

Price On Request

Maco Fixed Asset Management is a scalable fixed assets management software for businesses. The software is designed to... Read More About Maco Fixed Asset Management

Spine Asset Manager

By Spine Technologies

4.7 (13 reviews)

Price On Request

Spine asset management software is one of the best fixed asset management software that helps you efficiently manage yo... Read More About Spine Asset Manager

IT asset management software is an application used to track everything about IT asset, from start to end. Its entire lifecycle is recorded in the Asset tracking software. An IT asset management software can manage both hardware and software resources.

Given below is the list of best asset management software: Techjockey Asset Management System Maco Fixed Asset Management Aruba 310 Series Access Points Freshservice Snipe It Limble CMMS Vestige EZOfficeInventory Iquate Iqcloud Infor Enterprise Asset Management SUMMIT Asset Management Asset management software demo is also available if you choose techjockey.com to buy your software.

Assets can be categorized into two types based on the management point of view Fixed Assets: It is an asset which can be seen and touched like equipment, property, furniture, computer hardware, peripherals, etc. Digital Assets: Digital assets are intangible asset which cannot be seen or touched but hold some value for any organizations like software's, subscriptions, licenses, data, information, know how, digital documents, images, audio, video, etc.

The following are the best-fixed asset management software open source: SysAid IT Asset Management Spiceworks Asset Panda Reftab Asset Management System Samsara GLPI Spiceworks It is advisable to use an advanced level asset management software rather than free fixed asset management software. You can find the best ones on techjockey.com

Qelocity BillExpert

By Qelocity

4.3 (2 reviews)

Price On Request

BillExpert – GST Billing software India is designed a complete invoicing billing software to take care of your daily b... Read More About Qelocity BillExpert

Acupoms

By Findwise Business Solution

Price On Request

ACUPOMS is a one touch, one login information system accessible anytime, anywhere for every need of property operation m... Read More About Acupoms

TYASuite Asset Management Software

By TYASuite

4.9 (2 reviews)

Price On Request

TYASuite Software Solutions has been leading the change amongst cloud ERP software, making ERP affordable, scalable and... Read More About TYASuite Asset Management Software

SUMMIT Asset Management

By SUMMIT IT

4.5 (2 reviews)

Price On Request

SUMMIT Asset Management is one of the best asset management systems available in the market. The solution enables IT c... Read More About SUMMIT Asset Management

Techjockey Asset Management Software

By Techjockey

5.0 (3 reviews)

Price On Request

Techjockey Asset Management System is an excellent web-based tool to enlist, manage, track, and delist your office asse... Read More About Techjockey Asset Management Software

Infor Enterprise Asset Management

By Infor

4.3 (2 reviews)

Price On Request

Modern, flexible asset management software.21st-century asset management drives new levels of efficiency and helps you a... Read More About Infor Enterprise Asset Management

Disclaimers for Exchange

By MAPILab

4.6 (3 reviews)

Price On Request

MAPILab Disclaimers for Exchange is an ideal tool to manage signatures and disclaimers in corporate emails. Use this to... Read More About Disclaimers for Exchange

Snipe It

By Grokability

Price On Request

Snipe It provides a set of features for business users to increase productivity and perform core functions accurately. D... Read More About Snipe It

Ebyte

By M.M.S Software

Price On Request

Ebyte provides a set of features for business users to increase productivity and perform core functions accurately. Depe... Read More About Ebyte

Limble CMMS

By Limble CMMS

Price On Request

Limble CMMS provides a set of features for business users to increase productivity and perform core functions accurately... Read More About Limble CMMS

EZOfficeInventory

By EZOfficeInventory

Price On Request

EZOfficeInventory provides a set of features for business users to increase productivity and perform core functions accu... Read More About EZOfficeInventory

eFacilito

By Compel Consultancy Pvt Ltd

4.6 (6 reviews)

Starting Price

₹4,708/User/Month

Inclusive of all taxes

eFacilito is a facility management software that helps manage different types of facilities like factories, hotels, mal... Read More About eFacilito

Bynder

By Bynder

Price On Request

Bynderis a complete Asset Management Software designed to serve Startups, SMBs, SMEs and Agencies. This Asset Management... Read More About Bynder

Kaseya Vsa

By KASEYA

Price On Request

Kaseya Vsa is an all-in-one Remote Desktop Software designed to serve Startups, SMBs, SMEs and Agencies. This Web-Based... Read More About Kaseya Vsa

ProTrack Fixed Asset Management

By Millennia Hi-Tech Systems

5.0 (1 reviews)

Price On Request

ProTrack Fixed Asset Management Software - Web based software , To simplify the process and maintaining of Fixed Asset... Read More About ProTrack Fixed Asset Management

StallionSoft My Asset

By stallion

Price On Request

StallionSoft My Asset is a complete Asset Management Software designed to serve Startups, SMBs, SMEs and Agencies. This... Read More About StallionSoft My Asset

Last Updated on : 04 Oct, 2022

What is Asset Management Software?

Asset management software is a solution designed to record, track and manage all the assets of an organization. It records all details of an asset in every stage of its lifecycle, from procurement and maintenance to disposal. It integrates all the asset management functions to improve efficiency.

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Asset Management Software Reviews

SR

Suman Roy

review for Maco Fixed Asset Management

4.6

"Gave me every option available and picked out the ones that will work best for me..."

See All Maco Fixed Asset Management Reviews

DP

Dinesh Pandya

review for Spine Asset Manager

5

"It is the best software we have encountered so far in terms of FAMS. They are known for their legacy of best support & after sales service"

See All Spine Asset Manager Reviews

NK

Naween kumar Jha

review for Qelocity BillExpert

4.1

"Excellent service and aftercare with helping with questions relating to installation. Also a price that is amazing.?"

See All Qelocity BillExpert Reviews

A

4.7

"It was quite a good product excellent to use,gives a platform a way to manage Asset management and Ticketing to the next level"

See All TYASuite Asset Management Software Reviews

HS

HEMANT SHRIVASTVA

review for SUMMIT Asset Management

4

"Bought from them once, great price, no problems at all, easy to deal with good communictions"

See All SUMMIT Asset Management Reviews

FAQs About Asset Management Software

Asset management software for small businesses must be easy to use, affordable and reliable. Although the best asset management software depends on the needs and preferences of the organization, here are some of the most popular AMS for small businesses:  EzAsset  Freshservice  Spine Asset Manager

Hospitals need asset management systems to manage diagnosis equipment's, beds, lab machines, and other health equipment's. Here are some of the best asset management software for hospitals:  Manage Engine Asset Explorer  ezAsset  TYASuite Asset Management Software

The education industry needs the best asset management system to provide quality education and maintain compliance with legal bodies like CBSE. Some of the best asset management software considered for schools/ colleges and coaching institutes are Infor Enterprise Asset Management and AssetMint. 

Here are some widely used asset management software for manufacturing companies:  ezAsset  ManageEngine AssetExplorer  ProTrack Fixed Asset Management

IT asset management is an important aspect of IT operations because companies need to track their software and hardware assets. Asset tracking helps prevent unplanned outages or non-compliance-related expenses. 

Proper IT asset management improves company performance by helping IT professionals avoid unprecedented downtime, suboptimal deployment. The software also helps avoid unnecessary expenses associated with compliance infractions. Additionally, the process ensures that companies have proper budget predictions for replacing, renewing, adding, or disposing of a technological asset. 

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