6 Best Asset Tracking Software For Small Businesses

6 Best Asset Tracking Software For Small Businesses

25/06/2022

In this digital age, companies must track and manage greater items. With the proliferation of mobile devices within the workplace, ever-more complicated cloud technologies, licensed-based software, and frequently updated software, the administration, and monitoring of IT assets have become more complex. In addition, the more frequent turnover can cause security concerns for data.

The expense of underutilized and mismanaged assets can significantly impact the bottom line. For instance, according to Deloitte, the company could spend more than it should on software assets since they don’t have a clear image of its software’s ecosystem. 

This is where the asset management software can aid businesses in improving the awareness of assets and efficiently controlling them for optimal utilization while also decreasing the cost of software and IT. So here are the 6 best Asset Tracking Software For Small Businesses.

The Asset Management Software (AMS) offers a complete understanding of the entire lifecycle of an asset – from the acquisition and implementation to the renewal process and eventual disposal. Although a company could utilize an easy spreadsheet to keep track of its assets, AMS can look at each asset’s specifics, allowing it to make better choices about how to manage the assets it owns.

What Is Asset Management Software?

What Is Asset Management Software

Organizations use asset management software to improve the efficiency of assets while minimizing the costs of unused or lost assets. With a top-down, 360-degree, bottom-up view of their assets, both tangible and intangible businesses can cut down on time and expense by having a clear understanding of (in real-time) the location of their assets, who owns them, and their status as license holders and whether any repairs are required. The Asset Management Software (AMS) automatically gathers all that information and generates reports that the company can utilize to maximize the utilization of its assets.

A properly-designed software for asset management offers the business a complete understanding of every asset in its surroundings to assist:

  • Reduce the cost of maintenance
  • Eliminate obsolete assets
  • Inform the decision-making process on new IT purchases
  • Optimize software license utilization
  • Enhance security to protect against security risks
  • Help your business become more audit-ready and compliance-oriented

6 Best Asset Tracking Software For Small Businesses

The Best Asset Tracking Software For Small Businesses
  • Best Overall: Manage Engine Asset Explorer
  • Ideal for small to Medium-Sized Businesses: InvGate Assets
  • The best choice for custom reporting: Ivanti IT Asset Management
  • The Best Value: Investment Panda
  • Ideal for mobile applications: MMSoft Pulseway
  • Ideal for tracking Physical assets: Goode

The Best Overall: Manage Engine Asset Explorer

The Best Overall: Manage Engine Asset Explorer

With its well-established toolkit and a wealth of sophisticated options, such as top-quality reports, unique relationship maps, and support for physical and virtual assets, ManageEngine AssetExplorer is the preference as the top overall Asset Management software.

Pros

  • Toolsets with features that are robust and feature-rich, backed by an advanced technology
  • Simple to set up
  • Affordably priced
  • Familiar Windows-style user interface

Cons

  • No mobile application
  • Small businesses are not suitable for the need for IT support.

ManageEngine AssetExplorer is an online solution with various features and tools to manage every aspect of asset management. This includes inventory management software license administration, compliance reviews, and more. With its advanced technology, easy to set up and affordable price, it is easy to see why it is a great choice for managing your assets. AssetExplorer is our pick as the top overall Asset Management software.

For those who are just beginning to learn about Asset Management, ManageEngine AssetExplorer’s extensive toolset could be somewhat intimidating. But, if you begin by using its free trial of 30 days to get started, you will be able to reduce the time to master. The interface can seem overwhelming due to the many drop-down menus, tabs, and tabs. However, ManageEngine AssetExplorer has a great Quick Links feature that will aid you in staying focused on the work you must finish.

It is also helpful that the interface is designed with a Windows-style feel. Adding devices can be overwhelming due to the huge range of options. However, the Windows Agent Configuration makes it easier to manage to install Windows Agents on new devices.

The seasoned technology of ManageEngine AssetExplorer is evident in its ability to report. Apart from a few dozen pre-built reports, it can export reports in various formats that include all previous inquiries. You can also make completely customized reports. Apart from making reports run in a schedule, they can also be programmed to send emails to certain recipients.

A major disadvantage of ManageEngine AssetExplorer is that it does not have the option of a mobile-friendly application. Although the application is accessible via mobile devices, it’s a bit complex; the user interface (UI) makes navigating on mobile devices more challenging. It’s perfect for less complicated tasks like handling repair issues and troubleshooting while on the go.

The initial price of ManageEngine AssetExplorer begins at $999 for a year, including 250 IT assets. However, you must contact ManageEngine for a specific price.

Every user of ManageEngine AssetExplorer has access to 24/7 technical assistance, and this is a major distinguishing feature. The support for virtual hosts and virtual machines is rare. There is no assistance if you’re managing multiple mobile devices, although there’s support for voice-over-IP (VOIP) phone models.

Ideal For Small To Medium-Sized Businesses: InvGate Assets

Ideal For Small To Medium-Sized Businesses: InvGate Assets

InvGate Assets is the most effective software for managing assets for small – to medium-sized businesses with a limited IT staff since it meets all the requirements with its easy-to-setup and uses advanced reporting and remote reporting desktops, all for a reasonable cost.

Pros

  • Easy and quick setup
  • Simple and easy-to-follow navigation
  • Alarms can quickly reveal issues with assets
  • Affordable for small – to mid-sized businesses.

Cons

  • Limited reporting

InvGate Assets includes all the necessary hardware and software bases for tracking inventory and assets through an easy installation and user-friendly interface that makes it our pick as the top asset management software available for small and medium-sized companies.

From the start, InvGate Assets enables companies to manage their assets by providing features like advanced reports, remote desktops, network discovery changes management, license managing, and the deployment of software and software meters. InvGate reduces the learning curve through a simple and user-friendly interface. Reports can be obtained through the InvGate interface. It is as easy as performing an ordinary search and later exporting the results into Microsoft Excel.

The system for alerts in InvGate is easy to set up and promptly informs users of any issues related to assets. In addition, they employ a simple procedure to get assets in the system. This is done with an easy agent installation on any device or machine to be tracked. The system works with clients running Windows, Mac OS, and Linux.

InvGate Assets costs depend on the number of devices you wish to accommodate. Nodes only count if an agent is installed with the InvGate Assets app. Access points like IP printers, phones, routers and fax machines aren’t counted in the count.

The company offers three plans: Insight Service Desk and Assets–but pricing isn’t readily accessible through their site. To request a quote, submit an online form and get the company to call you.

InvGate support is great for small businesses with limited IT staff who require additional assistance. Subscribers have unlimited access to online support via phone and a support portal with an online knowledge base that is self-service. Customers have access to the documentation and may request help reporting problems throughout the licensing period.

The Best Choice For Custom Reporting: Ivanti IT Asset Management

The Best Choice For Custom Reporting: Ivanti IT Asset Management

Suppose you are a business looking for greater flexibility when tracking key information elements. In that case, Ivanti IT Asset Management provides a variety of pre-built reports that are further customizable according to specific queries. This makes Ivanti IT Asset Management our option for the most customized reports.

Pros

  • Desktop and mobile workspaces
  • Familiar Windows-style interface
  • Easy wizard configuration
  • Workflows and processes can be adapted
  • Numerous options for tech support

Cons

  • Doesn’t offer cloud-based services
  • The installation process is long and heavy on hardware.
  • 24/7 support via phone only for premium plans

There are many reasons to love the features-rich Ivanti IT Asset Management Suite. However, the feature that stands out to businesses looking to speedily and specifically highlight the most important details is its ability to report. With various built-in reports and the ability to create further queries, Ivanti IT Asset Management is our pick for the most customizable AMS for custom reports.

Ivanti provides everything a business requires to accurately and effectively manage IT assets across their full lifecycle, including asset discovery and management, software compliance, financial management and management of licenses. It is based on Windows, which makes it easier for Windows users. The wizard follows a simple procedure to guide you through your first network scan to find assets and steps along the way to help you learn about how to configure and manage. Once you have completed the scan, installing agents on the machines is possible.

While Ivanti can connect to desktop and mobile workspaces, It does not provide the cloud-based option, which means a complex installation that requires minimal hardware requirements. If you have a business that can manage an installation on-site, it is advantageous to have the speed of response in asset identification and report generation. As we’ve mentioned before, reports quickly return data regardless of how queries are modified to display more information.

Similar to other AMS providers, the pricing of Ivanti is determined by how many nodes require support. Similar to InvGate Assets, Ivanti counts only the number of installed agents. Therefore routers, IP phones, and other devices that cannot be used to install an agent aren’t included in the asset count when deciding on cost. Ivanti does not release its prices but asks interested parties to reach them to get an estimate.

Ivanti also provides a no-cost trial of its Asset Management Suite. However, since the trial program requires installation in a server local to you, you must confirm that your devices are compatible with the minimum requirements for hardware.

An Ivanti subscription provides access to technical support, including telephone support, a portal on the web as well as online self-service. If you want to upgrade, Ivanti offers a dedicated technical account manager’s service and a response within 30 mins or under. Support is available 24/7 to address urgent issues, but this only works with the premium support for the enterprise level.

The Best Value: Investment Panda

The Best Value: Investment Panda

Asset Panda pricing starts at 500 assets for $1500 per year. It includes unlimited users, applications that barcode scan and a customizable CSV import, map of fields “premium” technical support and customized reporting that make it our top choice as the best value Asset Management software.

Pros

  • Highly customizable dashboard
  • The mobile app is loaded with features and a barcode scanner
  • It can include videos, images and voice recordings stored in data files.
  • Support from a technical expert

Cons

  • The longer user learning curve
  • No network discovery

Asset Panda is an asset management system that is cloud-based and ideal for businesses of every size or type. While it looks as if it’s a complete software, AMS is anything, but it is anything but. It also offers high-end features, such as unlimited users and customized reports. Asset Panda can easily be tailored to fit the specific needs of any company at the cost of $1500 per 500 assets, making it our pick as the most cost-effective Asset Management software.

Asset Panda is an all-inclusive solution that every company needs to manage and track its assets. The inventory management module incorporates inventory management and asset management on one platform and also has the capability of managing assets across multiple locations as well as transferring them between different locations. The user who is designated can modify workflows for assets managed and inventory. Serial numbers or UPCs can easily track them.

Asset Panda also allows adding images, documents, and videos to the asset data files. Users can access several solid reporting options, including built-in reports allowing modification. Asset Panda has mobile apps that allow users to read barcodes to add assets as needed and are fully integrated with the website application. The app can generate reports and has mobile auditing and GPS tracking. This is a lot of options for the mobile application.

The drawback to Asset Panda can be that an arduous learning curve comes with its increased capacity to customize and configure. It’s more challenging for businesses that do not have internal IT support. But the good news for small or mid-sized businesses is that every user is considered a premium user with access to 24/7 phone assistance. Users also have access to web-based access and an internet-based knowledge base. The training is provided for free.

The 14-day trial is not as long as other trials with 30 – or even 45-day trials.

Ideal For Mobile Applications: MMSoft Pulseway

Ideal For Mobile Applications: MMSoft Pulseway

We selected MMSoft Pulseway as the best asset management software suitable for mobile apps because it is the top cloud-first remote monitoring and administration (RMM) application in their main area of attention, and it does a great job in this area.

Pros

  • Easy-to-use and robust mobile client
  • Modern, intelligent user experience
  • The iPad app gives access to the full set of features
  • Cloud connectivity is easy and quick, as well as locally installed virtual and physical infrastructure

Cons

  • Limited reporting
  • Managed assets should be connected to the internet.

Soft Pulseway is a powerful mobile application that is user-friendly and easy to monitor and manage assets. In contrast to other remote management and monitoring applications, Pulseway is mobile-first, capable of performing any administrative task directly from any mobile device or tablet. This is why Pulseway is our pick as the most effective AMS for mobile apps.

Like you would expect from the mobile-first approach, Pulseway provides users with the most modern and efficient user experience regardless of the device or platform. Users can access the full features of the system via an intuitive and user-friendly interface. Additionally, connectivity to devices is almost instantaneous.

While there is remote desktop access to Windows devices, The Pulseway mobile application’s capabilities are troubleshooting cloud-based servers and various operating systems. It can shut down processes, restart them and log out, stop, suspend, and even lock non-Windows-based assets in the mobile application.

The most significant change is the live status updates on the mobile application. The notification options are extremely specific, allowing users to pick services and set up tasks to be handled.

The main drawback of Pulseway is the limited report capabilities. Comparatively to other solutions, it has a limited number of pre-built report templates, and there is no option to modify the existing ones or make new reports. The reports are viewable on the screen and sent via email.

The price for the Professional plan of Pulseway begins with $1.71 for each workstation (billed annually) for up to 200 stations. If you own 500 or 1,000 workstations, the price drops to $1.51 and $1.30, depending on the number of workstations. Pulseway also provides a no-cost Version of the AMS, which is able to be utilized for monitoring two computers. The AMS also comes with a full-featured 14-day trial.

Ideal For Tracking Physical Assets: GoCode

Ideal For Tracking Physical Assets: GoCode

With Secure QR sticker technology, GoCodes created a solid, mobile-capable physical Asset Tracking System that’s inexpensive, making it our top choice for the most effective AMS to track physical assets.

Pros

  • Easy to set up and use
  • Priced reasonably
  • Physically secured, secure stickers that contain complete information
  • Locates online assets powered-down via mobile devices
  • Tracks assets that are networked as well as non-networked.

Cons

  • There is no tracking of usage of software and no automated identification of assets
  • Limited reporting

GoCodes is an online asset and inventory tracking software suitable for any business that needs to manage physical assets. We selected GoCodes as the top software for tracking physical assets due to its ability to use QR codes that allow you to track assets easily and quickly from any device, whether mobile or computer. The simple nature of the physical sticker appeals to companies that aren’t tech-driven.

It’s as simple as putting a barcode label on the object to verify the asset into GoCodes with information such as the type of asset, its serial number, subtype and the asset owner, and any other information tracked by using user-defined custom fields. The files for asset data can contain documents, like repair records, invoices, videos, and photos. The mapping feature lets managers track the exact location of assets. GoCodes records repairs, service requests and maintenance for that specific asset.

With GoCodes Calculating the depreciation is done automatically, using the most commonly used scenario of calculation for fixed assets. Depreciation reports built from scratch that show the calculation details are provided and exported for more in-depth depreciation management.

Goode’s capabilities for reporting are limited, with less than 20 custom reports available on the Enterprise plan. There are also optional reporting capabilities in other plans.

GoCodes offers five plans: Standard, Premium and Premium Elite plans Professional, Enterprise, and Standard. Each plan comes with the option of any number of workers, an infinite amount of mobile apps, a custom field for data, GPS monitoring, and an inventory management module. It is possible to pay a monthly plan for payment; however, paying annually reduces costs by 10%.

The Standard plan begins at $450 per year and comes with three members, 200 resources, and email assistance. The Premium plan is $810 annually and consists of five users and up 500 assets. Premium Elite members pay $1500 annually with up to 1000 assets and 10 people. The Professional option, with 20 users and 2000 assets, costs $2,160 per year. It also includes customizable reports.

Premium and Premium Elite and Professional plan members can access support via phone during normal business hours. The pricing on the Enterprise plans is offered on inquiry.

What Is The Process Behind Asset Management Software Work?

What Is The Process Behind Asset Management Software Work

Asset management software gathers and collates data about all assets to be tracked throughout the entire lifecycle of an asset, including acquisition, requisition, installation and configuration, maintenance, decommissioning and disposal. As assets move through their life cycle, AMS monitors their location, the person making use of it, the time it was down and when they are up. Automated reports offer management crucial information and analysis of every asset.

What’s The Significance Of Asset Management Software?

What's The Significance Of Asset Management Software

Without monitoring their assets, businesses cannot know what they have and how much it will cost them. While some companies can track their assets using simple spreadsheets, regardless of whether they have assets in the hundreds or the dozens, keeping an accurate and consistent accounting is impossible.

If implemented correctly, AMS can lower the administration costs associated with tracking assets, decrease human error and help save businesses time and money that could be used to fund revenue-generating activities. It can also serve as a system to hold employees accountable for correctly handling assets.

Additionally, AMS can provide deep insight into the performance of a business by finding trends in the utilization of assets and understanding how they impact the company’s expansion.

How Much Does Asset Management Software Cost?

How Much Does Asset Management Software Cost

The cost of software for managing assets varies based on the capabilities offered and the pricing strategy. Certain AMS providers base their prices around the number of clients they have; others depend on the number of assets or a combination of both. Some companies charge a flat annual cost based on various assets and users. It’s not easy to evaluate pricing unless you know what you want within an AMS.

On one side of the range, a small-sized enterprise can afford to pay $6 per communication endpoint or workstation annually for 250 endpoints or $1,500. An enterprise with a larger budget would be paying $6,000 for 1,000 workstations. Some service providers charge additional options like remote access and backup, whereas others provide these as standard features.

How Can Asset Management Software Help in Audits?

How Can Asset Management Software Help in Audits

All organizations–private and public- must keep accurate asset records for various reasons. Schools and non-profit organizations have to properly categorize and monitor assets based on the source of funding or lost grants. Without accurate records of assets, a company’s balance sheet may be in error, which could cause problems with the IRS or a loan provider.

These are reasons businesses should be auditing their assets every year. Without a thorough and exact audit of assets, businesses won’t be sure if their assets are operating optimally or if they are losing efficiency due to inefficient or unutilized assets.

But, due to the increasing number of IT assets and ever-increasing requirements, planning for an audit of assets can be a daunting task. Asset management software can provide firms with an efficient method for tracking assets with effective data management. AMS gives a complete insight into the costs of assets, their usage and ROI to provide better insight into business performance. It also monitors the depreciation of assets for tax purposes and determines the appropriate long-term value of an asset.

How Do We Choose The Best Asset Management Software?

How Do We Choose The Best Asset Management Software

Selecting the ideal software for asset management can be a daunting task. It is a complex process with many moving pieces within any AMS application; the programs differ in specifications and features. The challenge starts with having to select from over two dozen AMS companies.

To narrow your options to the most effective AMS applications, we analyzed various key aspects, such as easy setup and operation. We also considered basic features, including mobile and mobile-based capabilities, reports and pricing. In the end, selecting the best AMS program must be determined by these elements and even more important is whether the programs meet your specific requirements for your business.

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