Asset management is a term that describes any process or procedure that an organization uses to keep track of mission critical assets, such as tools, equipment, and software. Due to the importance of asset management in many organizations, there’s a wide variety of software products available to help make the tracking of assets easier, which this guide reviews.
Best Asset Management Software
- AssetExplorer – Best Overall Asset Management Software
- Ivanti Neurons for ITAM – Best for Auditing and Reporting
- InvGate Assets – Best for Remote Support
- Servicenow ITAM – Best for Asset Lifecycle Management
- Solarwinds – Best for IT Service Management
- Asset Panda – Best for Physical Assets
- Freshservice – Best for Enterprises
- Spiceworks Inventory – Best for Affordability
Product
Pricing
Virtual Asset Management
Physical Asset Management
IT Service Management
Reports and Analytics
AssetExplorer
4.6
AssetExplorer by ManageEngine is a web-based asset management system that gives you powerful tools for managing and monitoring both hardware and virtual IT assets. It gives you the ability to track the status of your assets, ensure software license compliance, and track the lifecycle of your assets from procurement to disposal.
Further, AssetExplorer has robust functionality for purchase order and contract management, can generate detailed reports, and offers a mobile app for iOS and Android. AssetExplorer also provides a Configuration Management Database (CMDB), which can be used to integrate with service management.
Overall, AssetExplorer provides an excellent balance of features, usability, and customization, giving users a comprehensive solution for both physical and virtual assets.
Pricing:
There are three tiers for AssetExplorer: Free, Trial, and Professional. However, a custom quote is required to get any pricing information.
- Automatically scans and audits all your network devices
- IT lifecycle management features give you an complete view of your assets
- Integration with a Configuration Management Database (CMDB)
- Mobile app for iOS and Android available
- Limited service management features
- Doesn’t track non-IT physical assets
Ivanti Neurons for ITAM is a cloud-based IT asset management tool with comprehensive reporting and auditing features that allow you to do effective lifecycle tracking, cost analysis, and asset monitoring. These powerful tools give Ivanti Neurons an edge over competitors if having advanced analytical tools is important to you.
Beyond just allowing you to monitor your IT assets, Ivanti ITAM also provides a mobile app, vendor management, and can integrate with other Ivanti service management tools via a CMDB. Another thing that distinguishes Ivanti Neurons from many other ITAM products is that it allows you to create, attach, and scan barcodes, which distinguishes it when keeping close track of physical assets is important to you.
If you need sophisticated reporting and auditing functionalities with your IT asset management system, or like the idea of being able to create barcodes, then Ivanti Neurons for ITAM is a strong contender.
Pricing:
Custom quote required for pricing information
- Advanced reporting and auditing tools
- Barcode creation and scanning tool
- Ability to integrate with service management using a CMDB
- Service management tools are a separate product
- No remote desktop feature
InvGate Assets
4.2
Invgate Assets is a powerful IT asset management tool that provides remote support while also allowing you to track all of your IT assets like software, computers, printers, and routers. The remote support lets your staff take control of end-user workstations, which allows them to provide tech support and helps connect your organization across locations.
Other potent features include the ability to to track over 500 different indicators such as financial information, license details, and software categories, create audit trails of actions by administrators, and secure network computers. Additionally, you can deploy patches automatically and meter usage of your apps.
Invgate Assets is one of the few stand-alone IT asset management tools that has remote capabilities, so if you’re looking for that functionality, then it should be at the top of your list.
Pricing:
Custom quote required for pricing information
- Robust IT asset management tools
- Discovers your network devices automatically
- Strong audit and report capabilities
- Only works for IT assets, so no physical assets outside of IT hardware can be tracked
- IT Service functionality limited
Servicenow ITAM
4.2
Using Servicenow ITAM’s system gives you a powerful set of tools to track the end-to-end lifecycle of virtual assets, hardware assets, and cloud services. The product gives you the ability you record and access information about your IT assets so that you can optimize their usage, reduce costs, and reduce risk of failures.
Along with that, there are premium features like automated discovery of network devices, SaaS service monitoring, and advanced reports. Servicenow ITAM also integrates with other products in the Servicenow suite that offer features like service management, operation management, and security operations through their Now platform.
If you’re looking for an asset management system solution that’s designed to give you a big picture look at your assets through lifecycle analysis, then you’ll want to take a look at Servicenow ITAM.
Pricing:
Custom quote required for pricing information
- Advanced lifecycle analysis that provides a comprehensive look at your IT assets
- Integrates with a Configuration Management Database system
- Part of an connected suite of products from Servicenow
- Integrates with third-party services like Salesforce, Azure, and SAP
- Not designed to track physical assets outside of hardware
- Service management features require a separate product
Solarwinds Service Desk is a cloud-based asset management system that offers excellent IT service tools for internal systems in addition to its IT asset management capabilities.
You’ll be able to automatically detect and monitor all your IP-connected hardware devices through a discovery agent that can be installed on computers, servers, and mobile devices. It also allows you to monitor virtual assets like software, manage procurement of licenses, and track purchase orders.
While Service Desk’s asset management features are robust, what sets it apart are its integrated service management features. There’s a service portal where users can submit tickets and requests and a self-service help desk with step-by-step articles and tutorials.
Customizable dashboards and reporting tools give you the ability to keep track of your service requests and group them together for comprehensive problem management. You’ll also have access to a mobile app, chat tools, and a vendor database system.
Solarwinds Service Desk is an excellent choice for companies that want to be able to provide tech support to their in-house staff while also in need of asset management. One other thing to note is that Solarwinds also has a product with less robust service tools called Web Help Desk that might be worth considering for those with less extensive service needs.
Pricing:
Team: $19 per month per user / Business: $39 per month per user / Professional: $69 per month per user / Enterprise: $89 per month per user
- Potent IT service management features for internal systems
- Automatic hardware discovery feature saves you time in cataloging your assets
- Integrates with over 200 third-party cloud applications
- Service management tools can’t be separated from asset management tools
Asset Panda
4.0
Asset Panda is an asset management system that excels in keeping track of physical items like tools, supplies, and equipment, though it also can handle IT assets such as software and hardware. The product’s sophisticated feature set lets you track assets individually or in groups, attach supplemental information like maintenance records, and then access and analyze that data using a variety of custom reports, audits, and automated workflows.
To facilitate physical asset tracking, there’s a barcode feature that allows you to create barcodes for assets with GPS data that can be read through a mobile app. One useful thing about Asset Panda is that it is highly customizable and lets you create an unlimited number of inventory configurations that you can adapt for your own needs. Likewise, you can have an unlimited number of users, giving everyone on your team the opportunity to be part of the asset management process. You’re also able to track a wide array of information with Asset Panda, such as contracts, lifecycle history, maintenance, repairs, and funding.
Asset Panda has a powerful and versatile feature set, but its strength lies in its sophisticated tools for tracking physical assets, and that’s who we’d recommend it for.
Pricing:
Custom quote required for pricing information
- Mobile app with barcode scanning
- Can be customized for nearly any situation
- Sophisticated tracking tools and reporting abilities
- Doesn’t have automatic network discovery
- Lacks some IT systems management tools
Freshservice
4.0
Freshservice is an enterprise-level IT asset management and IT service management software product. It gives you powerful IT asset management features, such as lifecycle monitoring, automated network discovery tools, a full-fledged CMDB, SaaS app integration and comprehensive analytics and reporting tools.
In addition to that, you’ll get IT service management tools including a self-service portal with additional service channels, incident management, service-level agreement monitoring, and artificial intelligence/machine learning automations. On top of all that are operations and project management functions which can, for example, allow you to manage software project from end to end.
If your organization is at the medium or enterprise-level size and in need not only of an asset management system, but also integrated service, operations, and project management functions, then Freshservice is an option well worth considering.
Pricing:
Starter: $29 per agent per month / Growth: $59 per agent per month / Pro: $89 for agent per month / Enterprise: $109 per agent per month (All prices for monthly service, discounts for annual plans)
- Integrated asset, service, project, and operations management functions
- Artificial intelligence tools that automate some tasks
- Integration with third-party tools like Slack, G-Suite, and GitHub
- Automated discovery of network IT assets
- Not mobile friendly
- No multi-users allowed
- Price too high
Spiceworks Inventory is a free IT asset management system that allows you to track and organize all your IT assets, both virtual and physical. Among its features include automatic detection of every IT device connected to your network and the ability to track software licenses and compile reports on your assets. Further, you’ll be able to manage an unlimited number of devices, users, tickets and technicians, making Spiceworks quite a useful tool for basic IT asset management.
While Spiceworks Inventory is lighter on features than many other products, it does have the benefit of being free and having support included. For companies on a budget who don’t need a lot of bells and whistles, Spiceworks’ functional–if limited–asset management features could be all that is necessary.
Pricing:
Free with in-app advertising
- Free plan with unlimited devices and users
- Automatic detection of network devices
- Uses display advertising in the app, which could be distracting
- Lacks service management features
Methodology for the Best Asset Management Software
It’s important to note that there is a prominent subcategory of asset management known as ITAM, or Information Technology Asset Management. ITAM specifically concerns the monitoring and tracking of assets that are related to the delivery of information technology (IT) services. These include IT assets that are both virtual, like software or license contracts, and physical, such as computer hardware, printers, and mobile devices.
Because of the importance of asset management for IT infrastructure, there is a wide selection of products on the market that are tailored towards managing IT assets. Reflecting that, a majority of the products reviewed here are focused on IT asset management, though some also have the capability of tracking non-IT physical assets.
One other thing to note is that most of the products listed require getting a custom price, which means that you may have to contact several of the providers in order to determine which product is best for you and your budget.
In judging the asset management systems in this article, we looked at the following criteria:
- Pricing: When available, the pricing of the product was assessed based on factors like licensing fees, monthly fees, and fees per user.
- Virtual Asset Management: The product was assessed on the features it had for tracking and monitoring virtual assets, like software, SLAs, contracts and purchase orders.
- Physical Asset Management: The product was assessed for how well it could track physical assets, like computers, mobile devices, tools, equipment, and supplies
- IT Service Management: The product was assessed on its IT service features, such as help desks, ticking systems, knowledge bases, and remote access.
- Reports and Analytics: The product was assessed for what kinds of reporting and analytic features it had.
Frequently Asked Questions (FAQs) for Asset Management Software
This section is a list of frequently asked questions about asset management software.
Bottom Line: Asset Management Software
The benefits of acquiring an asset management system are numerous. Organizations will be able to better serve their clients, reduce their costs, and minimize risk of equipment failure with a solid asset management framework and accompanying tools in place.
While there is no lack of excellent asset management products out there, we think that ManageEngine’s AssetExplorer provides the best overall mix of features. However, as each of the products reviewed have their own strengths, it’s possible that another asset management system would work better for your organization.