IT Asset Management Software: Meaning, Benefits, and More!

IT asset management software is an advanced solution that helps organizations track and organize all their IT resources, both hardware and software. 

Additionally, it consolidates the entire resource of the business in one database, keeping records of every inventory, reducing additional charges, and ensuring everything is used efficiently. 

Therefore, let’s begin with this blog post to comprehend IT asset software meaning, benefits, the top 10 software options available, and how to choose an accurate tool for your business more precisely.

What is IT Asset Management Software (ITMS)?

The IT asset management software is a comprehensive tool that helps businesses manage, track, and monitor all their inventory in one place, whether tangible or intangible. 

These assets may include hardware resources, such as laptops, desktops, and mobile devices, as well as software resources like licenses and cloud services. 

Therefore, instead of handling everything manually, IT tool software operates as a centralized system, providing an accurate overview of your entire asset lifecycle.

What are the Benefits of IT Asset Management Software? 

Managing a business may seem confusing, especially when it starts expanding. Here comes the role of the IT asset manager software, which keeps everything organized, updated, and easy to track. 

Thus, check out the pointers below to learn more about the benefits of this IT asset tracking software in depth.

1. Company’s Entire Asset Source: The reliable IT asset management software helps to examine the overall inventory of the organization. It accumulates all the information regarding these IT resources into a central repository, providing an insightful overview. 

2. Easy Access to Asset Tracking: One of the best parts about this software is its advanced tracking capabilities. It assists in examining the entire lifecycle of both tangible and intangible resources of the organization, from purchase to disposal.

3. Assist in Cost Reduction: With the help of precise data on assets, companies can timely eliminate waste, avoid repetitive purchases, reduce support and licensing costs, and ensure optimal capital allocation.

4. Delivers Robust Security: IT asset management software constantly tracks and secures the company’s belongings, safeguards crucial data, and most importantly, controls IT shadow (unapproved resources). 

5. Ensures Compliance: This tool maintains proper alignment between IT items and their license regulation to avoid any sort of additional fines or charges. 

Overall, IT asset management software isn’t just a tracking tool; it supports organizations in saving money, enhancing security, and making informed decisions for their growth. 

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List of Top 10 IT Asset Management Software

Simply put, an accurate IT asset management tool may assist you in streamlining your business workflow, cutting additional costs, and boosting the overall productivity of your IT resources. 

Furthermore, in this section, we have illustrated the top 10 IT asset options. Take a quick look.

ManageEngine is one of the excellent discovery and reporting solutions, which guides businesses through the entire asset lifecycle, from purchasing and distributing to elimination. 

Moreover, it is not only easy to install but also delivers a user-friendly interface with a simplified process of tracking, making it a perfect option for beginners. 

Pros	Cons
ManageEngine is a browser-based and cloud-based software.	The software does not offer any mobile application.
It offers VM-based asset support to enhance the agility and scalability.	It offers limited remote control tools, mostly for Windows and macOS devices.
This software helps companies to track networked and non-networked assets, to safeguard them from potential risks.
Delivers comprehensive relationship mapping for a better understanding of IT resources by illustrating their performance.

SolarWinds is a web-based tool that is especially designed to maintain accurate, consistent records of the IT resources of the company, ensuring productive tracking, management, and supervision. 

Notably, it is one of the perfect IT asset management software features that includes almost all the necessary options a business anticipates, making it a convenient choice for small businesses. 

Pros	Cons
This IT asset inventory software tool takes less than four hours for complete setup.	The platform does not track the installed license of the company.
It offers an easy-to-navigate layout with clear and large font text.	There is no built-in depreciation; you may have to install it from another tool.
Stimulate the reporting process and present the entire records of the valuables.	There is no option available for the default reporting selection.
SolarWinds is a web-based platform that provides extensive support to its users.

ServiceNow, an advanced service management provider that debuted in 2012, is a comprehensive package of IT asset management solutions.

Moreover, this cloud-hosted software is one of the prominent choices for big organizations, offering several helpful solutions like depreciation and tracking incidents. 

Lastly, the platform offers a customizable dashboard to its users for a scalable workflow system.

Pros	Cons
ServiceNow is a cloud-based platform.	The layout navigation of this platform may be slightly complex for beginners.
It provides accurate and customizable reports for a better understanding of the overall asset’s lifecycle.	There is no on-premises option available.
There are numerous support options available on this platform for its users.	Sometimes users may have to face complexity when installing plug-ins and looking for solutions.
This tool enables its users to track, depreciation of the IT resources.

BMC is an IT resource help desk software, delivering a powerful combination of integrated modules, including information resource management, purchase, and endpoint assistance, and many more. 

Additionally, this excellent IT software asset management tool offers several beneficial features, like software deployment, mobile device maintenance, and patch monitoring, all at an affordable price. 

Pros	Cons
The BMC offers Lightweight Directory Access Protocol (LDAP) integration for better performance.	Many users may find the platform’s user interface (UI) a little outdated and unorganized.
It provides robust software license management.	This tool primarily focuses on the older version of Windows.
This tool also has a mobile app, ensuring smooth device compatibility.	The remote desktop is optional.
The platform contains customizable views for easy access and clarification of asset progression.	Its phone support response is slightly slow and takes time to report.
Lastly, BMC provides an excellent, friendly, and helpful chat support.

InvGate is one of the reliable asset management tools for small businesses, offering helpful, beneficial features that adequately cover both hardware and software resources. 

However, many users find the platform a bit complicated and time-consuming to understand, but its tailored solutions and other supporting features make it worth trying for startups. 

Pros	Cons
The InvGate Assets Management hardly takes three to four hours for installation and complete setup.	Users may find difficulty in translating the platform’s layout text while switching to another language.
Its platform layout is easy to navigate, as it consists of clear fonts and large, bold texts.	For advanced reporting, the users may have to use Java, as the server of the tool doesn’t support large files.
This IT asset inventory software instantly notifies its users if there is any sort of problem occurs with their equipment.

Asset Panda, an IT resource management service provider, places asset lifecycle management as one of its top priorities. It empowers employers to comprehend every aspect of their inventory, from initial purchase and maintenance to elimination. 

Furthermore, the network discovery feature of this amazing tool provides thorough information about the entire IT resource base of the company in a standard structure. So that the employers can make an informed decision for their business. 

Pros	Cons
The Asset Panda offers a free iOS and Android application with barcode scanning to its users.	There is no remote access to this machine.
This IT asset manager software supports videos, images, voice recording, and custom fields.	This tool does not have an offline version for its mobile application.
It comes with low annual fees compared to other IT management software.	Users may also face slow data import when the tool is operating on larger data sets.
Delivers personalized CVS import with excellent field mapping for better outcomes.

Pulseway, a cloud-based platform, excellently removes the complications of managing and troubleshooting multiple devices throughout the organization’s workplace. 

This IT asset management software is an all-rounder IT toolbox, surely the best pick for mid-size or larger companies. Moreover, it comes with a fairly well-structured user interface and numerous beneficial options for robust asset management.

Pros	Cons
The MMSoft Pulseway secures the company’s sensitive data with two-factor authentication (2FA).	Many users found difficulty in configuring the SNMP support of this platform.
This IT asset management offers a modern, intuitive user experience.	The tool only integrates with Microsoft SQL Server for database monitoring.
Its iPad application provides complete access to all the features of this tool.	It contains limited reporting capabilities.
It is one of the perfect IT asset management tools for mobile clients.
Delivers an easy connection to the cloud and locally establishes physical and virtual infrastructure.

Ivanti IT asset management software is a comprehensive tool that provides a detailed overview of hardware, software, routers, servers, and the rest in one place, promoting effective resource management. 

Likewise, this profitable software helps businesses in maintaining a detailed track of their equipment, including lifecycle status, data, current inventory status, locations, and warranty details.

Pros	Cons
This reliable IT asset management tool offers robust mobile and desktop workspaces.	The setup process of the tool is slightly difficult and might take time.
It provides an easy-to-use layout structure for those who are familiar with Windows.	The 24/7 phone support is only available on some plans.
This tool excellently manages software licensing, making it one of the best IT asset inventory software tools.	Ivanti IT Asset Management Software does not provide any cloud-hosted option.
There are several tech support options available on the platform to provide instant help to its users.

GoCodes, an asset management software, has built its entire strategy around Quick Response (QR) code stickers that you can place on your inventories and physically track them in minutes. 

Generally, this tool works by using any sort of handset to scan in the QR codes and transmit that data back to the cloud-hosted database. So that businesses can access any of their IT resource information anytime, anywhere.  

Pros	Cons
GoCodes is a convenient IT asset software.	There is no uptime monitoring or notification option available on this tool.
It comes at an affordable price.	Users may not be able to track software usage or automate the detection of listed properties.
This is one of the best secure IT asset software solutions that protects the overall business IT workflow.	There is no inner device visibility option.
It easily locates the powered-down asset online or on a mobile application.
Users can easily track any of their holdings, including active or even non-networked ones.

Last but not least, we have SysAid, one of the worth considering choices for companies that are looking for helpdesk integration along with effective asset management. 

It offers an impressive number of network detection features for companies and entirely concentrates on the integrated solutions to deliver personalized and beneficial outcomes.

Pros	Cons
The platform delivers great network detection and asset visualization.	There is no depreciation.
The download process of this tool is entirely easy, or you can also take help from the platform itself.	Users may find the layout of this tool a little cluttered, with lots of tabs and sections on its header.
SysAid contains many beneficial options, including Lightweight Directory Access Protocol (LDAP) integration, a help desk, and an HTML5 mobile browser client.

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How to Choose Accurate IT Asset Management Software for Your Business? 

Choosing the right IT asset inventory management software is a crucial decision for any business. With the appropriate pick, you will not only get accurate information about all your equipment but also save money and improve your business security. 

Moving further, check out the pointers below and learn how to make a smart choice for your company. 

1. Determine Your Asset: Firstly, start by understanding what type of resource you need to manage, whether it is hardware or software. After that, examine its workflow and conclude how your resource has been acquired, allocated, monitored, and disposed of. 

2. Define Your Goal: Once you comprehend your asset, it’s time to know what exactly you want to achieve from the ITMS. For instance, better asset lifecycle visibility, reduce cost, or proper regulation’s adherence. 

3. Evaluate IT Asset Management Software Features: Thoroughly examine the offering of the tool you have decided to use, such as ensuring it provides end-to-end tracking, contains a customizable dashboard, and meets the audit requirements. 

4. Prioritize Practical Criteria: Assure the IT asset has a user-friendly interface, grows with your business, provides robust security terms, and is device-compatible. 

5. Go Through the Vendor Details: Before concluding, check the tool’s company reviews, customer service rating, market reputation, and try to evaluate the ROI of the software. 

In a nutshell, considering the aforementioned factors while opting for the IT asset software will help you to make a beneficial decision and make your overall business workflow easy, organized, and cost-effective. 

Bottom Line 

Managing your IT resources doesn’t have to be a challenge anymore. With the help of appropriate IT asset management software, you can easily track everything in one place, reduce extra charges, and stay on top of your equipment and systems. 

So, what are you waiting for? From the above list, pick one tool that truly feels right for your business and start managing your resources like an expert!

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Frequently Asked Questions

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