Top 6 IT Asset Management Tools- Best Asset Management Software for 2024
William Marshal
Posted On December 19, 2023
Every business needs to keep track of its assets as it is required for a company’s regulatory compliance. Keeping accurate records of physical and digital assets also helps with resource planning efficiency. Manual asset management registers in organizations are a thing of the past.
When it comes to keeping track of a company’s assets, a variety of asset management apps are now available, which save time and improve efficiency.
In this article, we’ll go over everything there is to know about IT asset management tools.
What is IT asset management (ITAM)?
IT asset management, also known as ITAM, is the process of ensuring that an organization’s assets are properly identified, deployed, maintained, upgraded, and disposed of.
Simply put, it is the process of ensuring that your organization’s valuable assets, both tangible and intangible, are tracked and used. An IT asset is anything that a company values, such as hardware, software, or information.
Why is IT asset management important
IT asset management is crucial to a business’s success. It centralizes the company’s financial, inventory, and contractual functions to support strategic decisions about the use and distribution of IT-related materials among employees.
Here are a few examples of ITAM’s significance.
- The usefulness of IT assets is limited. The IT asset lifecycle can be proactively managed to maximize the value an organization can derive from it.
- Applying processes across all lifecycle stages to understand the total cost of ownership and optimize the use of assets is an important part of IT asset management.
- The asset management practice of a company goes far beyond the hardware that has received an official IT stamp of approval.
- New asset management challenges arise as a result of subscription-based software and employees’ expectations to customize the tools they use through marketplaces and app stores.
- Modern teamwork necessitates IT teams being adaptable and adapting their asset management process to best enable the business.
- Asset management has become an even more important part of an organization’s overall strategy because it provides up-to-date information that helps to reduce risks and costs.
- When it comes to budgeting, lifecycle management, and making decisions that affect the entire organization, an asset management process creates a single source of truth.
- Collaboration is also a crucial component of successful asset management. Instead of purchases being made in secret, a collaborative tool allows employees to make requests and other teams, such as procurement, to comment on and approve purchases.
How to effectively perform IT asset management
It’s difficult to track and manage all of your hardware, software, virtual, and non-IT assets from a single location without a well-thought-out strategy and a well-defined process flow. As a result, implementing an IT asset management (ITAM) system is a wise decision.
It also provides you with a plethora of advantages, some of which are:
- Find and enlist an executive sponsor who will champion ITAM in a visible and active manner.
- Carefully organize your ITAM implementation team. Bring them in early on and give them the opportunity to build the practice from the ground up.
- Select a manageable pilot, work on it, test it, and improve it before expanding it to other areas.
- Define the parameters by which a critical asset is defined. It’s possible that it’s a particular piece of hardware. It’s possible that it’s a specific piece of software. You’ll get a long list of assets from discovery tools.
- Don’t try to reinvent the wheel when it comes to ITAM; instead, use a lifecycle-based approach.
- It is entirely up to you whether or not to use a CMDB. Consider what data you’d like to feed the CMDB. While it can be a valuable single source of truth, it does not have to contain all of your data. Only include information that adds value.
- Your ITAM practice will benefit from automation. Introduce automation wherever possible. Look for new opportunities for automation on a regular basis, as technology in this area is rapidly evolving.
- The asset data can also help with change management, ensuring that changes do not result in unplanned outages or other issues that could affect critical services or business users.
- Make certain you have all of the necessary licensing documentation. Ascertain that your ITAM processes compare deployed instances to this data. This will ensure that there are no unpleasant surprises when the software auditor arrives.
- Allow for a feedback system to assist you in improving over time. Make preparations for process evolution and change. The more time you spend running ITAM and integrating it into your environment, the more you’ll learn.
Top 6 IT asset management tools – Best IT asset management software for 2024
Snipe-IT – IT asset management software
Snipe-IT is an online IT asset management software app that is open-source. The app comes with a slew of features that make inventory management a breeze. A summary of recent activity is displayed on the dashboard. The REST API can also be used to integrate the app with your own system.
Features
- Web-based software
- Secured data
- One-click backups
- Per-user language support
- Multi-language translation
- Mobile-friendly for asset updates
- LDAP login/user sync
- JSON login/user Sync
- Slack notification integration for check-in/ checkout
Pricing: $39.99/months
Auvik – IT asset management tools
Auvik IT asset management tool can discover and distribute IT assets automatically. It provides visibility into every device’s connectivity as well as the network’s configuration. It has network visibility and IT asset management capabilities that can be automated.
Features
- Discovery & mapping
- Inventory & documentation
- Hardware lifecycle data
Pricing: Get quote plans, Essentials and performance.
ManageEngine Asset Explorer
Efficiently manage your IT assets with ManageEngine AssetExplorer, a user-friendly web-based IT Asset Management (ITAM) solution. This tool ensures a comprehensive approach from planning to disposal, offering seamless tracking of software and hardware assets, software license compliance, and purchase order management. Discover the benefits of unified agent asset discovery for Windows, Linux, and macOS assets, and make informed decisions throughout the IT lifecycle.
AssetExplorer simplifies IT asset inventory management, software license management, software asset management, purchase order management, asset life cycle management, asset tracking, and configuration management database.
Features:
- Unified agent for asset discovery across Windows, Linux, and macOS.
- Comprehensive software and hardware asset management.
- Software license compliance monitoring.
- Purchase order and contract tracking.
- Complete IT asset life cycle management.
- Precise asset tracking software.
- Configuration Management Database for efficient decision-making.
Pricing:
- Free Edition:
- Full functionality.
- No expiration.
- Limited to 25 nodes.
- Available in 29 languages.
- Trial Edition:
- Fully functional 30-day trial.
- Valid for 30 days.
- Limited to 250 nodes.
- 24×5 live technical support.
- Available in 29 languages.
- Professional Edition:
- Fully functional.
- Valid until the license expires.
- Manage nodes based on the purchased license.
- 24×5 live technical support.
- Available in 29 languages.
Choose the edition that suits your needs, and experience seamless IT asset management with AssetExplorer.
Asset Panda – IT asset management tools
Asset Panda IT asset management software can be used to manage both physical and digital assets. Creating workflows and actions will help you automate the asset management process.
Features
- Asset Register- asset tracking
- Relationships- asset tracking
- Costs-asset tracking
- Location- asset tracking
- Status- Asset tracking
- History- asset tracking
Pricing: Asset panda’s pricing information is provided by the software provider or gleaned from publicly available pricing materials.
Spiceworks – IT asset management software
Spiceworks IT Asset Management software allows you to keep track of the hardware and software on your network. All types of network devices, such as switches, routers, gateways, and others, can be monitored. The software will detect assets on the network automatically, categorize them, and generate a detailed report.
Features
- Monitor network licenses and devices
- Manage license
- Network
- Exchange
- Report on inventory
- Assets
- licensing.
Pricing: Free
Freshservice – IT asset management software
Freshservice is an online IT asset management tool that can assist you in keeping track of your hardware, software, contracts, and other assets. Assets can be categorized by location, creator, date of creation, and asset type. You can track assets as they progress through different stages and even get a quick timeline.
Features
- Asset management
- Custom & scheduled reports
- Incident management
- Multiple languages
- License management.
Pricing: $19 to $99 per user per month.
Honorable IT asset management tools – Asset Management Software
ManageEngine Asset Explorer – IT asset management software
ManageEngine Asset Explorer is a web-based IT asset management tool that aids in the monitoring and management of your network’s assets from planning to execution. Asset Explorer gives you a variety of options for discovering all of the assets in your network. You can track purchase orders and contracts, manage software and hardware assets, and ensure software license compliance.
Features
- Asset Lifecycle Management
- Hardware Asset Management
- Software Asset Management
- Software License Management
- License Compliance Management
- CMDB
- Purchase orders and Contract Management
- Remote Control
- Reporting.
Pricing: Free Edition: Fully functional, restricted to 25 nodes. Professional bundle starts at $955/year for 250 IT assets annually.
Ninja One – IT asset management software
NinjaOne IT asset management software provides a risk-free trial of their software. Ninja is sold on a per-device basis, with prices varying depending on the features required. Managed service providers (MSPs) and IT professionals can benefit from NinjaOne’s powerful and intuitive server management software. Ninja includes tools for monitoring, managing, securing, and improving all of your network devices, including Windows servers, workstations, and laptops, as well as macOS devices.
Features
- Recurring tasks
- Task dependencies
- Team chat
- Time tracking & reporting.
Pricing- Starter: $39 per month, Pro bundle starts at $79 per month, and Business bundle starts at $124 per month.
Nifty – IT asset management tools
Nifty is a collaboration hub that provides visual project management, allowing IT teams to see their workflows in real-time. nifty access to longer-term, schedule-driven implementations, as well as nimble workflows like ticket management that can be automated and measured after the fact. Nifty is the tool that your team will rally around, whether you’re looking to manage a process or speed up resolutions.
Features
- Time tracking
- Client invoicing
- Mobile time tracking
- Administration tools
- API/integration
- Task prioritization
- Project map
- Project budgeting
- Resource management
- Project monitoring
- Community forum
- Task ranking
- Workflow management
- Business instant messaging
- Platform basics
- Content planning
- Task creation
- Task management
- Project management
- Remote collaborations
- Marketing campaign performance.
Pricing: $39/month for up to 10 team members, Pro bundle starts at $79/month for up to 20 team members, Business bundle starts at $124/month for up to 50 team members, and Enterprise bundle starts at $399/month for unlimited team members
Trending IT asset management tools – ITAM software
Asset Cloud – IT asset management software
Asset Cloud is a multi-purpose IT asset management software application. You can use the app to manage both physical and digital assets. Pre-built reports can be generated to keep track of overdue checkouts, warranties, scheduled maintenance, and more.
Features
- Asset management
- Document management
- Fixed assets
- Collaboration
- Tax management
- Surveys and feedback
- Analytics
- Knowledge base
- Version control
- Incident management
- Task tracking
- Reporting
- Asset budgeting
- Asset lifecycle management
- Disposal management
- Asset sharing.
Pricing
Basic- $46/month
Plus- $75/month
Complete- $115/month
Go Codes – IT asset management software
GoCodes is a powerful IT asset management program. Custom fields, QR codes, audits, excel imports and exports, GPS tracking, maintenance, APIs, reports, analytics, and inventory management are all supported in the free version of the software. If you want advanced features like a company URL, data backups, recurring services, asset stock transfers, and advanced access control, you can upgrade to the paid version.
Features
- Audit trail
- document management
- Inventory management
- Reminders
- Work order management, inventory tracking
- Supplier management, status tracking
- Tax management
- Barcoding/RFID
- Historical reporting
- To-do list
- Audit management
- Inspection management
- Vehicle tracking
- Purchasing
- Alerts/notification
- Service history.
Pricing
Standard – $459/annually
Premium- $810/annually
Premium elite- $1,500/annually
Professional – $2,160/annually
Invgate Insights- IT asset management software
InvGate Insights is an amazing asset management software. The software enables the discovery and management of IT assets. By compiling asset information from network discovery data and third-party sources, you can create a single repository of assets.
Features
- Network discovery
- Asset inventory
- IT financials
- Software licensing
- Software metering, asset monitoring
- Software deployment
- Remote desktop
- Integration with service desk
Pricing- Free trial, quotation-based.
Ivanti – IT asset management software
Ivanti is a IT asset management software system that allows you to inventory and manage your computers remotely. It can generate reports on installed software and hardware, provide remote support, and apply security patches.
Features
- Asset management
- Document management
- Self-service portal
- Collaboration
- Inventory tracking
- Analytics
- Knowledge base
- Version control
- Alerts/escalation
- Incident management
- Task tracking
- Reporting
- Asset tracking
- Asset sharing
- Keyword search
Pricing- $50/annually
SolarWinds – IT asset management software
SolarWinds Service Desk includes a fully integrated IT asset management software suite that combines powerful tools and capabilities into a single, web-based platform. Computers, servers, laptops, mobile devices, networking equipment, and virtually any other technology asset can be tracked as part of your organization’s hardware and software inventory.
Features
- Asset centralization
- Finding assets for Windows and importing assets from other repositories
- Maintaining inventory and keeping records
- Troubleshooting via integration with Dameware Remote Support software
- You can use this reporting engine to create pre-configured and custom reports.
Pricing
Business- $19/month
Professional- $39/month
Enterprise- $89/month
Conclusion
IT Asset management is adapting as IT continues to evolve, with more reliance on SaaS vendors for critical services, and it’s necessary to track changes in increasingly dynamic cloud environments. It’s critical that you select the tools that will allow you to collaborate effectively and support your service management practice.
Each organization is distinct from the others. It’s possible that you’ll have to map out complex dependencies across an organization. To reduce risk, intangible assets such as licenses and compliance documents should be tracked. Perhaps your needs are more straightforward, such as keeping track of a computer inventory.
Choose software that meets your company’s needs after careful consideration and thorough research. Before you buy any software, make sure to read the online reviews and ratings.
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