What is the Best Asset Management Software to Choose?

In this digital age, businesses are required to manage and track more assets. The management and tracking of IT assets are complicated because of the flood of mobile devices in the workplace, the increase in complex cloud technologies, licensed-based software, frequent updates, and the issue of frequent employee turnover.

Asset management software (AMS) is designed to address the above challenges. It allows businesses to monitor and manage their assets effectively, leading to optimal utilization and reduced IT and software costs. AMS gives a complete view of an asset’s lifecycle, starting from its procurement and implementation and continuing through its renewal and disposal.

Although a simple spreadsheet could be used to track assets, AMS enables businesses to analyze specific data for each asset, providing more informed decision-making capabilities for asset management. In asset management software, Asset Liquidation tracks the status and value of the asset and provides tools that can manage and dispose of the asset when they are no longer needed.

What are the Best Asset Management Software Options for 2023?

1)  ManageEngine AssetExplorer

What is the reason for choosing ManageEngine AssetExplorer?

We choose ManageEngine AssetExplorer because it is the best asset management software. It has various features like a comprehensive set of tools and advanced capabilities, like excellent reporting, and distinctive relationship maps. It also has the ability to manage physical and virtual assets. All this makes it a top choice for effective asset management.


  • It offers a rich set of features and mature technology
  • Setting it up is very easy.
  • It is priced reasonably.
  • It has a familiar user interface that resembles Windows style


  • No mobile application is available for this.
  • It is not suitable for small businesses with a limited IT staff

2)  InvGate Assets

What is the reason for choosing InvGate Assets?

The best asset management software for small to medium-sized businesses with limited IT staff is InvGate Assets. It accomplishes all the requirements, like easy setup, user-friendliness, advanced reporting, and remote desktop capabilities in an affordable price.


  • The Quick and easy setup process
  • The Straightforward navigation that is easy to follow
  • Its alarms help in promptly identifying issues with assets
  • The affordable pricing for both the small and medium-sized businesses


  • There are few reporting options available

3)   Ivanti IT Asset Management

Why We Chose It

Ivanti IT Asset Management is the best custom reporting asset management software because it provides businesses greater flexibility in tracking essential data points. It gives numerous pre-built reports that can be customized to personal queries and allows further customization.


  • It Provides both mobile and desktop workspaces
  • It gives a user-friendly Windows-style interface
  • It has an easy-to-follow wizard setup process
  • The Customizable workflows and processes
  • It offers a wide range of tech support options


  • It lacks a cloud-based service option
  • The installation process can be lengthy and hardware-intensive.

4)   Asset Panda

Asset Panda is the best value for asset management software because of its pricing plan. This includes unlimited users and a range of features such as free applications with barcode scanning, customizable CSV import with field mapping, “premium” Technical Support, and custom reporting. It also offers a cost-effective solution for effective asset management at $1,500 per year for up to 500 assets.


  • The dashboard is highly configurable to suit individual needs
  • The mobile app is rich in features and includes barcode scanning
  • Images, videos, and voice recordings can be included in data files
  • The technical support is reliable


  • The software has a steeper learning curve for users
  • The network discovery is not available.


While selecting the asset management software you should consider the following factors – user-friendliness, scalability, customization options, integration with other systems, and customer support. Every asset management has its own pros and cons, so make the right choice by analyzing the needs and wants of your organization. Machinery Auctioneer can helps the business by selling off assets that are no longer needed