5 Best Asset Management Software (2023) (2023)

The Best Asset Management Software of 2023

  • Asset Panda: Best Overall Asset Management Software
  • ManageEngine AssetExplorer: Best For Growing Teams
  • MMSOFT Pulsway: Best For Established Companies
  • GoCodes: Best For Construction Companies
  • Ivanti: Best For Large Teams

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Best overall asset management software

Asset Panda

5 Best Asset Management Software (2023) (1)

4.2

5 Best Asset Management Software (2023) (2)

Our ratings take into account a product's cost, features, ease of use, customer service and other category-specific attributes. All ratings are determined solely by our editorial team.

Starting price

$83 per month

(with annual billing)

Free trial

14 days

Standout feature

Manage both fixed and IT software assets

5 Best Asset Management Software (2023) (3)

Starting price

$83 per month

(with annual billing)

Free trial

14 days

Standout feature

Manage both fixed and IT software assets

Why We Picked It

Asset Panda is an easy-to-use, flexible asset management solution that helps you track both fixed and IT software assets. You can view full details about all your assets in one place, including warranty and lease information, user manuals, purchase date, who is authorized for access, service and maintenance dates and asset location.

The Asset Panda mobile apps for Android and iOS help you manage assets from anywhere. Customizable fields let you input asset data the way that works best for you and your team. Full asset audit trails ensure strong accountability and help you forecast future asset needs. Built-in barcode scanner technology means you don’t have to invest in pricey scanning equipment.

Automatic notifications alert you when a contract or license is set to expire or service dates are approaching. You can also track repair and maintenance records for assets and achieve greater asset accountability with Asset Panda’s signature capture tool.

Asset Panda offers unlimited users with every plan; plan prices are customized and scaled according to the number of assets you want to manage. Manage as few as 250 assets or more than 5,000.

Who Should Use It
Asset Panda tops Forbes’ list of best asset tracking software because it works well in so many industries, including construction, healthcare, education, government and nonprofits. Those looking for an easy-to-use, customizable asset management solution will want to take a close look at Asset Panda.

Read: Asset Panda Review

Pros & Cons

  • User-friendly
  • Good value for features offered
  • Scales to manage 5,000-plus assets
  • Highly customizable
  • Add-ons get pricey
  • Lacks pricing transparency
  • Telephone support not provided on weekends

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Best for growing teams

ManageEngine AssetExplorer

5 Best Asset Management Software (2023) (4)

4.0

5 Best Asset Management Software (2023) (5)

Our ratings take into account a product's cost, features, ease of use, customer service and other category-specific attributes. All ratings are determined solely by our editorial team.

Starting price

Plans start at $955 per year for up to 250 IT assets

Free trial

30 days

Standout feature

Manage hardware and software

5 Best Asset Management Software (2023) (6)

Starting price

Plans start at $955 per year for up to 250 IT assets

Free trial

30 days

Standout feature

Manage hardware and software

Why We Picked It

ManageEngine AssetExplorer is an IT asset management (ITAM) solution that helps you manage both software and hardware assets. With AssetExplorer, you can manage an asset’s entire life cycle, from the initial planning and acquisition to asset disposal.

Use AssetExplorer to track and manage workstation and network devices across your organization. Easily scan installed software on every device and ensure you’re compliant with licensing terms. Audit asset usage and grant or withhold user permissions as appropriate. Identify areas where you’re overspending or underspending on IT assets.

ManageEngine AssetExplorer helps you manage all of the Configuration Items (CIs) within your Configuration Management Database (CMDB) and enables you to track CI interdependencies with its relationship maps. Detailed predefined reports and custom query reports are available so you can monitor and track essential asset details.

If you only have a few assets to track, you might want to go with AssetExplorer’s free version, which restricts you to managing no more than 25 assets. A 30-day trial of AssetExplorer Premium is available, which lets you test up to 250 assets. Licensing fees for AssetExplorer range from $955 per year for up to 250 assets to over $12,000 per year for 10,000-plus assets.

Who Should Use It
Because AssetExplorer scales so well, it is an effective tool for any size organization that needs a robust ITAM solution.

Read: ManageEngine AssetExplorer Review

Pros & Cons

  • Manage both software and hardware
  • Good value for features offered
  • Mobile app for remote asset management
  • Paid plans are more expensive than top alternatives
  • Bit of a learning curve
  • Customer support could be better
(Video) The Top 5 Digital Asset Management (DAM) Systems of 2022

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Best for established companies

MMSOFT Pulseway

5 Best Asset Management Software (2023) (7)

3.9

5 Best Asset Management Software (2023) (8)

Our ratings take into account a product's cost, features, ease of use, customer service and other category-specific attributes. All ratings are determined solely by our editorial team.

Starting price

$22 a month for up to 20 devices

Free trial

14 days

Standout feature

Remote asset monitoring with a feature-rich mobile app

5 Best Asset Management Software (2023) (9)

Starting price

$22 a month for up to 20 devices

Free trial

14 days

Standout feature

Remote asset monitoring with a feature-rich mobile app

Why We Picked It

MMSOFT Design’s Pulseway is a remote monitoring and management (RMM) solution that was built for IT teams and managed service providers (MSPs). Pulseway is a mobile-first solution that lets you monitor, manage and troubleshoot technical assets across your entire network. The feature-rich mobile app lets you support users anywhere from any device that connects to the internet.

Pulseway’s instant alerts let you know when problems happen in real time so you can resolve them immediately, thereby minimizing downtime and end-user frustration. Automate repetitive IT tasks with ease and define multilevel auto-remediation workflows. Pulseway deployment is relatively easy, thanks to standard scripts and an intuitive interface that helps you get up and running with this RMM solution quickly.

Who Should Use It
Pulseway is best for medium to larger companies and MSPs that need a cloud-hosted solution that helps IT staff provide responsive support to end-users while keeping track of critical network assets to boost efficiency and resolve problems quickly.

Pros & Cons

  • Competitively priced for those tracking up to 500 assets
  • User-friendly mobile app
  • Upgrade or downgrade at any time
  • Discounts for long-term billing commitments
  • Visual workflow editor
  • Mandatory $149 one-time fee for onboarding services training
  • Reporting features could be stronger
  • Pricey add-ons
(Video) 7 Best Free And Open Source IT Asset Management Software

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Best for construction companies

GoCodes

5 Best Asset Management Software (2023) (10)

3.8

(Video) Why You Need A Digital Asset Management (DAM) System

5 Best Asset Management Software (2023) (11)

Our ratings take into account a product's cost, features, ease of use, customer service and other category-specific attributes. All ratings are determined solely by our editorial team.

Starting price

Plans range from $500 per year for up to 200 assets

Free trial

15 days

Standout feature

Track tools, equipment and consumables

5 Best Asset Management Software (2023) (12)

Starting price

Plans range from $500 per year for up to 200 assets

Free trial

15 days

Standout feature

Track tools, equipment and consumables

Why We Picked It

GoCodes makes it easy to track tools and equipment. You can use GoCodes on any computer or mobile device that connects to the internet. Assets are tracked via a patented QR code tag; once you add the QR label to an asset, the QR code can be scanned from anywhere. Automatic GPS tracking lets you know where the asset is every time the tag is scanned.

You can also track consumables with GoCodes, and receive low-quantity alerts when it’s time to restock. Approved users can check out and return assets quickly and easily. Automatic overdue reminders are sent when users keep an asset beyond the approved usage time frame.

Pricing is based on the number of assets you need to manage and the number of user logins or asset administrators you require. Five GoCodes plans are available; the starting plan lets you manage up to 200 assets, while the top plans let you track 2,000 or more assets.

GoCodes lets you easily audit your entire asset library and track every asset’s full history, from initial purchase to disposal. Custom reports allow you to view your asset data in a way that you find most helpful for your needs.

Who Should Use It
GoCodes is often used by construction companies that need to track tools and equipment, but GoCodes is also a good solution for other types of small and midsized organizations, such as schools and businesses that need to manage office equipment.

Pros & Cons

  • Robust tools and equipment tracking
  • Monthly plans available; save 10% on annual plans
  • Automatic GPS tracking
  • Track consumables
  • Limited field customization
  • Lengthy setup process
  • Mobile app can be glitchy

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Best for large teams

Ivanti

5 Best Asset Management Software (2023) (13)

3.7

5 Best Asset Management Software (2023) (14)

Our ratings take into account a product's cost, features, ease of use, customer service and other category-specific attributes. All ratings are determined solely by our editorial team.

Starting price

Custom pricing only

(Video) Top 20 Asset Manager Interview Questions and Answers for 2023

Free trial

45 days

Standout feature

Highly configurable for those with unique needs

5 Best Asset Management Software (2023) (15)

Starting price

Custom pricing only

Free trial

45 days

Standout feature

Highly configurable for those with unique needs

Why We Picked It

Ivanti Neurons for IT asset management (ITAM) is a single offering within Ivanti’s larger suite of business technology products. The ITAM solution delivers essentials for managing both software and hardware IT assets from initial purchase to disposal. Ivanti comes with advanced technology asset management features that help you track asset performance, monitor costs and important service and renewal dates, manage assets while on the move and stay on top of vendor interactions.

While Ivanti provides out-of-the-box reports and dashboards, the solution is highly configurable, so you can adapt the asset management tool to your needs. Ivanti Neurons for ITAM can be hosted on-premise but is typically hosted on Ivanti’s multi-tenant, cloud-based technology platform.

Like many ITAMs, Ivanti comes with barcode scanning so you can track physical IT assets. Ivanti delivers an asset repository with a product catalog that helps you assess asset availability and usage to satisfy user needs while keeping business IT expenses in check.

Who Should Use It
Ivanti Neurons is a sophisticated ITAM best suited for large companies with complex asset management needs. It’s also a good solution for those already invested in the Ivanti suite of solutions.

Pros & Cons

  • Track IT hardware and software assets
  • Asset life cycle tracking
  • IT cost and contract tracking
  • Barcode scanning
  • Mobile app for remote asset management
  • Lacks pricing transparency
  • Complex setup process
  • Hit or miss customer support

Methodology

Forbes analyzed dozens of asset management software solutions and gathered thousands of data points into five main categories and multiple subcategories to create our Best Asset Management list for 2023.

  • Asset Management Capabilities: We looked at key features offered, from the basics that every asset management solution must have to advanced features that can save you time, money and frustration. Asset audit tools, barcode labels, asset check-in/check-out features, mobile apps, customization, secure access and cloud storage, multilocation support and asset life cycle management are all attributes Forbes explored as we conducted this intensive review.
  • Usability: Most organizations that purchase asset management software also want a solution that’s easy to install and implement, with a minimal learning curve to get up and running. So we took a look at how intuitive the software was for both beginners and more tech-savvy users. Software integrations were also considered because the applications you select for your company need to work in harmony.
  • Reporting Tools: Forbes then reviewed reporting and analytics tools because asset tracking software should help you quickly assess who is using assets and how effectively each asset is being used.
  • Customer Support: Even the best software requires intervention or explanation from support specialists, which is why we looked at the various methods of support offered as well as support hours for every solution we reviewed.
  • Pricing: Many asset tracking solutions come with complicated pricing plans based on the volume of assets tracked and the number of software users. Tiered pricing can make it challenging to determine which solution is best based on the features and services offered. Forbes thoroughly vetted each solution and considered pricing variances versus the value offered as we created this list.

Frequently Asked Questions

What is the best way to track assets?

It depends on how many physical assets you have to manage and how many people need access to that asset tracking software. quick response (QR) codes, barcode scanning, radio-frequency identification (RFID) tracking and GPS systems are common for a variety of businesses.

What does asset management software do?

Keeping track of multiple business assets can be difficult, especially when assets climb into the hundreds or thousands. Asset management software provides a centralized location for keeping track of crucial information about your company’s assets, including who is authorized for access, asset purchase date, asset costs, service and maintenance records, usage patterns and asset location.

Does my company need asset management software?

The more assets your company manages, the more likely you need an asset management software solution. Asset value is another consideration; the higher an asset’s value, the more likely you need a tool for managing its usage, location and other critical asset parameters.

What are the risks of going without an asset management solution?

Without an effective asset management solution, you risk losing more assets to theft, purchasing duplicate assets that aren’t necessary and incurring more downtime as maintenance and service needs may not be adequately tracked. You also lose out on the opportunity to pinpoint asset under-usage, leaving you at risk for renewing costly, unnecessary asset leases.

What is an asset management tool?

An asset management tool is your asset tracking software where you can keep track of all of your important physical assets in one place. Asset tracking helps businesses improve their operations and cut down on administrative redundancies.

What is the best asset management software tool?

It depends on a number of factors: how many user profiles, how many assets need to be tracked and if you need to keep track of assets at multiple locations.

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Is asset management software secure?

Like most types of software, the best asset management software programs offer many levels of security. When choosing this type of software, you want to look for security features like two-factor authentication (2FA) or multifactor authentication (MFA), documentation that shows frequent security updates and patches, intrusion detection, the monitoring of user activities, data encryption and privacy protection.

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