IT asset management software rankings and comparisons:
Every organization should keep track of its business assets. Asset records are necessary for regulatory compliance reasons. Additionally, thorough records of both physical and digital assets support effective resource planning. The days of businesses maintaining manual asset management registers are long gone.
The availability of several asset management software today helps businesses maintain track of their assets more effectively while also saving time. Here, we’ll outline the steps involved in IT asset management and discuss its significance. Additionally, you can read a review of the best online asset management software right here.
What Is IT Asset Management?
IT asset management describes a comprehensive computer system that keeps track of all the assets within the company. IT asset management is “a set of business processes that include IT assets throughout the business units inside the organization,” according to the International Association of IT Asset Managers (IAITAM).
In an IT ecosystem, the procedure supports strategic decision-making.
An IT asset management solution serves the following purposes:
- Effectively help manage the assets.
- Improve visibility of assets.
- Ensure optimum utilization of assets.
- Reduce IT and software costs.
- Ensure compliance with regulatory requirements.
IT asset management connects the organization‘s assets to its IT infrastructure. Management and IT experts may analyze and monitor all kinds of assets within the firm with the help of a strong asset management system. Making thorough decisions on the asset’s lifecycle and other aspects of buying can be done using the information.
IT asset management can be thought of as a fusion of accounting and IT services. For accounting purposes, asset records are kept in the IT systems. An accurate balance sheet can be created using the data stored in the systems. The management may find this useful in making wise company judgments.
How To Select The Best Software?
Online, you can find a variety of asset management programs. The several asset categories that asset management software helps to manage can be used to categorize them.
Infrastructure Asset Management Software: The program is used to keep track of the assets that make up physical infrastructure, such as highways, utilities, power plants, transportation tools, etc. Large businesses and public institutions typically use them.
Financial Asset Management Software: The company’s financial assets are tracked using this software. Investment funds, and other financial assets are among the assets.
Software Asset Management: An organization can use the app to manage the purchase, use, upgrading, license renewal, and other facets of its software programs.
Physical Asset Management: The resource is employed to manage all categories of physical assets that a corporation owns. These include furniture such as desks, cabinets, and lighting as well as technological equipment.
A purchase should be made based on the needs of the company. Make sure you are very clear about the asset management system’s goals. Make a list of all the features you want the asset management software to have.
Large businesses would need software that can record all the aforementioned features. Owners of small businesses might just have fewer needs. You should conduct online research to find the necessary software once you have identified the needs.
10 Best IT Asset Management Software
Managed service providers (MSPs) and IT specialists can use NinjaOne’s robust yet user-friendly server administration software. You can manage, secure, and enhance all of your network devices, Windows servers, workstations, laptops, and macOS gadgets with Ninja’s comprehensive suite of capabilities.
The scattered IT assets may be instantly found using Auvik network management software. It provides insight into each device’s connectivity as well as the network’s configuration. It has the ability to automate IT asset management and network visibility.
An online asset management tool called Freshservice can assist you in keeping track of your hardware, software, contracts, and other assets. The assets can be categorized according to asset type, location, creator, and date of creation. You can keep track of assets through various stages and even receive a quick chronology.
You can manage an endless number of devices and endpoints with Atera’s innovative per-tech pricing approach for a set low price. You can choose between a flexible monthly membership and a cost-effective yearly subscription. Three different licensing types are available, and you can test Atera’s full feature set for 30 days absolutely FREE.
For MSPs, IT consultants, and IT departments, Atera is a cloud-based remote IT management platform that offers a strong and complete solution. For a fixed low price, Atera allows you to maintain and track a limitless amount of inventory.
Visual project management provided by Nifty, a collaboration centre, aids IT teams in having a comprehensive picture of their activities. Longer-term implementations that follow a schedule, as well as agile operations like ticket management that can be automated and evaluated after the fact, accelerate quickly.
6. xAssets IT Asset Management Software
The time and financial constraints to purchasing an ITAM solution that perfectly suits your company are eliminated by xAssets ITAM. Most needs are promptly satisfied “out of the box,” which provides a great time to value. Their platform enables quick configuration, allowing for the quick fulfilment of complicated requirements including workflow, reporting, and connectors.
AssetExplorer is a web-based IT asset management (ITAM) tool that enables you to keep track of and manage network assets from acquisition through disposal. AssetExplorer addresses every facet of IT asset management, from multi-source discovery methods to real-time hardware and software dashboards. You can monitor software consumption and improve software licensing compliance with the integrated software asset management module.
8. Spiceworks IT Asset Management Software
You can keep an eye on your network’s hardware and software using Spiceworks IT Asset Management software. Switches, routers, gateways, and other network devices can all be monitored. The program will automatically find network assets, classify them, and create a thorough report.
An open-source online asset management tool is called Snipe-IT. The app has a ton of options that can make keeping track of your inventory simple. The dashboard provides a summary of recent activity. Using the REST API, you can also connect the app to your own system.
10. Asset Panda
Scalable asset management software called Asset Panda can be used to manage both physical and digital assets. The asset management process can be streamlined by creating workflows and activities.
What Does An Asset Management System Do?
A system for managing assets can serve several purposes. All kinds of assets can be tracked using an asset management tool. You can keep track of both physical and digital assets with asset management software.
Inventory, hardware, software, and other types of software can all be tracked using asset management software. Asset lifecycle management is aided by technology as well. The software can keep track of assets at every stage, from acquisition to disposal.
The system aids in streamlining the asset management procedure. Software installations, business services, papers, and other types of documents can all be tracked using an asset management system in a single repository.
The process of implementing an asset management system often begins with the documentation of data regarding the company’s tangible and intangible assets. The data is employed for tracking asset locations and for making sensible asset management choices.
Importance of Asset Management System
Management of IT assets is crucial for companies of all sizes. All asset kinds can be accurately recorded with the aid of the software. Planning resources effectively can be facilitated by using the software. Additionally, it might lessen the chance of asset theft.
The monitoring of the assets spread across many locations and departments would be aided by an asset management system. You will learn the location of the assets. Run reports to learn about ownership, service information, and other useful details.
Asset visibility is increased, preventing misplacement of the assets. You can add details and assets, as well as set up recurring asset audits. When the minimum threshold is met, the stock control module will notify you. Thus, the inventory goods will always be completely stocked.
The management of asset depreciation is aided by asset management software. Prior to this, the majority of businesses used spreadsheets to manually track their assets. This technique was frequently prone to inaccuracy, which led to issues with asset appraisal.
The management will also have a more thorough understanding of the net cost of the assets with the usage of asset management software. All necessary data is collected by the asset management application in a single repository. This makes sure that asset management and planning are done correctly and in accordance with ISO 55000.
- Capture early stage costs.
- Document changes to assets.
- Plan proper service and maintenance.
- Capture the cost of disposal.
- Determine profit or loss on the sale.
Software for asset management can precisely determine an asset’s value, including its depreciated cost. This aids in determining the profit or loss on the sale of assets more precisely. Additionally, it makes sure that asset purchases and sales adhere to regulatory criteria. This aids in maximizing the revenue earned by the asset over the course of its existence.
What Is Asset Lifecycle Management?
Optimizing the utilization of assets is referred to as asset lifecycle management.
There are typically four stages in the asset lifecycle:
- Operation and Maintenance
The utilization of assets can be maximized over the course of their life cycle with the use of an IT asset management system. The software can assist in determining the needs of assets. After examining the current assets, management can learn about the assets that are needed. The management will be able to determine whether or not the present assets will suffice to meet the organization’s current needs by looking at the asset management report.
An asset management system will assist in learning about the asset’s maintenance needs once it has been purchased. In turn, this will guarantee that the assets are working properly. Additionally, it will lower repair expenses over the asset’s lifetime. Finally, an asset management system can predict whether the sale on disposal will be reported as a profit or a loss once the asset has reached the end of its useful life. The gain or loss will be precisely determined by the asset management software using the asset’s purchase price and depreciated cost.
The benefits of asset life cycle management using an asset management system are:
- Better forecast of the asset purchase.
- Informed purchase decisions.
- Ensure timely maintenance.
- Know the depreciated cost of the asset.
It will be simple to choose the best asset management software for the company after reading about it. Before buying the software, make careful to read the reviews and ratings posted online.
The majority of reviews for the product should be favourable; else, buying the software is not worthwhile. Before making a genuine buy, think about utilizing a free demo. This will make it easier for you to test the software to see if it satisfies the requirements.