Best Fixed Asset Management Software
Are you looking for a fixed asset management system to monitor and maintain fixed assets of your company?Then, you are in the right place. Fixed asset software enables you to monitor equipment and vehicles, assess their condition, and manage them in excellent operational order. Businesses can employ fixed asset tracking software to minimize lost inventory, manage equipment failures, downtime, and bookkeeping operations. To ease your search, GoodFirms has taken the utmost effort to come up with a list of best fixed asset management software that can help you enrich the operational competence.
List of Best Fixed Asset Software | Best Fixed Asset Tracking Software
- Easy Asset Management Software.
Reftab is the easiest software platform for managing fixed assets. Keep track of your assets, licenses, accessories and consumables with reservations and loans. Scan asset tags with easy-to-use mobile apps. We also offer a full featured maintenance module to schedule and log maintenance work. ... learn more about Reftab"Finicky yet powerful. Active support makes up it"Ying Mei
- Tag It | Scan It | Track It - Asset Management System
AsseTrack FAMS helps to establish a computerized system for tracking and recording all fixed assets and generates statutory, business and control related standard and dynamic reports. It improves the management of widely dispersed assets of an organization, resulting in better accounting practices, maintenance, and upkeep of the assets. The technology also has Tracking functionalities that run tho... learn more about AsseTrack FAMS"Fast asset tracking software"Daisy maina
- A powerful asset tracking platform
Asset Panda is a highly flexible asset tracking and management platform that works the way you do to give everyone in your organization quick and easy access to information they need about your company’s assets—ultimately allowing you to work smarter. In addition to asset management, it optimizes and streamlines everything from auditing to facilities management to calibration tracking and so m... learn more about Asset Panda
- Online accounting software.
Xero accounting tool was built to strengthen small businesses. Our efficient cloud-based accounting software connects people with the right numbers anytime, anywhere, on any device. For accountants and bookkeepers, Xero accounting system allows collaborating with small business clients and building a trusted relationship. It is an accounting software that includes time-saving tools required to gro... learn more about Xero"Trusting Xero since 10 years and going to stick with it"Haider AllegVISIT WEBSITEFree Trial30 daysEntry Level Price$11.00 per Month
- Cut invoice-to-payment time 50%
Sage Intacct is 100% invested in meeting the needs of financial professionals, 100% focused on customer success, and 100% committed to the cloud. That’s who we are, and always will be. Thousands of organizations rely on Sage Intacct’s best-in-class cloud ERP software, which is part of the Sage Business Cloud, to deliver the efficiencies and insights that keep them on the fast track of growth, ... learn more about Sage Intacct"Great company to work with"Ashley O'Connor, Financial Analyst/Administrative Assistant at Performance Software Corporation
- Security Baked-in
Snipe-IT offers a low latency worldwide network for fast connections no matter where you are. Your data never leaves the region you select when you sign-up.Snipe-IT is open source software. Transparency, security and oversight is at the heart of everything we do. No vendor lock-in again, ever. ... learn more about SNIPE-IT
- Asset Inventory Management Software
Whether it’s managing your inventory management, monitoring material inputs and outputs or producing automated reports, Hector, our asset management inventory software, is committed to being the guardian of your corporate assets. By closely monitoring your asset inventory, you can focus on your core business. Let Hector track all your company’s assets!... learn more about HectorVISIT WEBSITEFree Trial15 daysEntry Level Price$19.99 per Month
- Open Source Property and Facility Management.
openMAINT is an application for the management of building, installations, movable assets, and related maintenance activities. It helps the managing authority to know, organize and update those data related to the asset inventory, in order to support their decision and operative procedures. It is a complete ready-to-use solution, i.e. it is configured with all necessary base files, processes, repo... learn more about openMAINT
- Tag | Track | Report
Wasp is the only asset tracking solution provider that offers all the necessary software, hardware, and asset tags you need to implement an asset management system. This makes AssetCloud not only the most feature-rich asset tracking software in the industry, but also makes it the most complete solution available from one provider. Automate your organization's fixed asset tracking for improved chec... learn more about AssetCloud
- Cloud-based asset management tool.
AssetTiger is full-featured equipment and asset tracking software. It assists companies in keeping their inventories organized and to make certain these assets are not adding to their annual expenses.... learn more about AssetTiger
- Keep your assets on the right track.
When it comes time to inventory your company's assets, AssetManage provides all the functionality you need. Instantly locate your assets and conduct audits. ... learn more about AssetManage
- Maintenance management, simplified.
UpKeep is the leading mobile-first CMMS/Enterprise Asset Management System helping maintenance teams deliver reliability for their facility. UpKeep has been named the #1 Maintenance Management Software by Gartner and has also been recognized as a top place to work in Los Angeles. UpKeep has over 160,000 registered users from small businesses to large enterprises including Yamaha, Jet.com, Unilever... learn more about UpKeep
- Network Discovery and Inventory Software
Open-AudIT is an application to tell you exactly what is on your network, how it is configured and when it changes. Open-AudIT will run on Windows and Linux systems. Essentially, Open-AudIT is a database of information, that can be queried via a web interface. Data about the network is inserted via a Bash Script (Linux) or VBScript (Windows). The entire application is written in PHP, bash, and VBS... learn more about Open-AudIT
- Eliminate Lost & Stolen Tools
We provide EVERYTHING you need to quickly and easily track chain-of-custody for your tools and equipment. Our solution includes easy-to-use software, speedy mobile scanner apps and rugged metal bar code tags. Now you can get a handle on tool management and drive down the cost of lost tools. Unlike other solutions, our solution is designed specially for trades so it's easy-to-use and does not get i... learn more about GoCodesVISIT WEBSITEFree Trial15 daysEntry Level PriceContact Vendor
- Your assets maybe anywhere, but you know all about them.
Asset Infinity is one of the leading asset tracking & management software widely used in various industries by a multitude of brands, hosted on the Microsoft Azure Cloud Services with 99.9% of uptime guaranteed. Every company wishes to gauge the total number of assets and maintain a register for their purchase, maintenance, and sale. They deploy a whole team to track every single asset and bring i... learn more about Asset InfinityVISIT WEBSITEFree Trial14 daysEntry Level Price$25.50 per Month
- Keep Tracking Your Asset With ASSETMINT
Assetmint brings to you the easiest solution to optimize the use and keeping a track on the fixed assets of any company. Having a well-organized system of assets enhances the efficiency and productivity of the company. AssetMint overcomes the challenge of maintaining data transparency and strives to lead towards reducing costs with potent strategies. The following features will help to acquire the... learn more about AssetMint
- EAMbrace Fixed Asset Management
Fixed assets affects numerous aspects of financial planning, reporting and control. Many complicated and time dependent task embraces fixed asset management and slenderest error can have severe effects. Automation of these tasks in a way to save that’s save time and money without sacrificing accuracy and control is a critical need for growing business and that is where EAMbrace® delivers. With ... learn more about EAMbrace
- Fixed Asset Management Specialist
Asset-Specialist is a Fixed Asset Management Software designed to Track, control and management of Fixed Assets. Gives a unified view and control of all your Assets, where they are, what their cost and present values are. Featuring a Warranty, Insurance and Maintenance Contracts management calendar alerts. This software will help you in eliminate drudgery and cost of maintaining Fixed Assets. It w... learn more about NitsoVISIT WEBSITEFree TrialAvailableEntry Level PriceContact Vendor
- FIXED ASSETS are items which are used by the organization
Qelocity Technologies, we are based in Mumbai an IT Company which specialize’s in software and hardware products. Our speciality lies in developing products which cater to fulfil client needs.We distinguish ourselves from the rest by providing superior quality products and services. Our software products are built in house and tested along all the parameters by industrial experienced personnel h... learn more about QuickAsset
- TRAXX is a comprehensive Fixed Assets Management Solution.
Traxx™ entered the vehicle framing market in 2003. The frame manufactured by Traxx™ contains Patented technology for both the frame and keder. Our chosen business model is to deal direct with carefully chosen ‘territorial’ and ‘best-in-class’ partners who are Graphic Converters with Brand/Brand Owner relationships, or, Sign Product Distributors who supply Graphic Converters.We have hi... learn more about TRAXX
- Entire Retail & Corporate Banking Solutions sourced with the best breed of functional modules.
This web based application takes care of all the Moveable and Non-Moveable Fixed Assets Purchased by the Organization or any corporate .It calculates Depreciation on all the fixed assets. Module pertains to Head Office but can be used at the Branch level also.This web-based solution helps establishing a computerized system for tracking and recording all fixed assets and generates statutory, busine... learn more about Virmati
- It helps to ensure compliance with corporate governance requirements
Real Asset Management, an MRI Software Company, is a global supplier of fixed asset management and intermodal transport software and services. Its products have been implemented by thousands of organisations in over 70 countries across all sectors.RAM's Series4000 range of fixed asset software incorporates every aspect of asset accounting, capital project and budgetary control, lease accounting, a... learn more about Real Asset Management
- Achieve Seamless Integration
Enterprise Asset Management software provider with more than 30 years experience in providing industry leading systems to over 40 countries worldwide.The FMIS range covers the total asset life cycle from purchase through production to sales and shipping. As enterprise level provider, the system includes fixed assets with depreciation, asset tracking, maintenance, leasing and inventory modules. ... learn more about FMIS
- The complete cloud and mobile fixed asset management platform
The most important area company needs to cover in Fixed Asset itself is Fixed Asset Management.As a business grows, its accounts grow in complexity. Today’s business landscape is completely dependent on technology and even the smallest business has considerable capital tied into IT infrastructure.If you’re reading this, you’ve already had to deal with the headache that is to manage and optim... learn more about Fixed Asset Connect
- Check in and check out assets
You can't afford the wasted time, effort, and cost of searching for and replacing lost or missing assets. With Asset Manager, you can track the assets you have, where they are, how much they cost, and more. You can use existing barcodes or create your own to check in and check out tools and equipment to employees. Asset Manager takes only a few minutes to download and install.With Asset Manager, y... learn more about Asset Manager
- EMPOWERING PEOPLE BY INNOVATION
Win ERP is end to end Cloud ERP Software for SMB's. Win ERP software providing tools like Lead management system, Customer relationship management (CRM) software, Sales management software, Finance and accounting software,Purchase management software,Inventory management software,HRM Payroll software.At Win ERP Software provide each and every client with cost effective yet unparallel quality Infor... learn more about WIN ERP
- The Q Ware fixed asset management module improves asset accounting
Q Ware cloud-based facility management software makes maintenance simple for small to medium-sized organizations that currently use paper-only or inefficient legacy systems to manage their maintenance needs.Capture and streamline your maintenance operations, workflow, and knowledge base with software that is actually easy to use. We are "Maintenance Software Made Simple.The Q Ware fixed asset man... learn more about Q Ware CMMS
- Left Behind Your Spreadsheet
VemaFATS is software for record and manage your fixed asset & inventory with tracking feature by barcode tag through web application & mobile app.VemaFATS are trademark of Fixed Asset Man agement Tracking Software from VemaID. You can implemented with Cloud System or On-Premise System. VemaFATS suport by experience team in Auto ID Technology and Fixed Asset Management. ... learn more about VemaFATS
- Analyze the tax and cash-flow implications of every asset.
You need to analyze the tax and cash-flow implications of assets before you acquire them. Once you have them, you need to track their valuation and depreciation. Fixed Asset Software will help you make wise decisions about when to buy, when to lease, and how to manage your capital for maximum return. You’ll also have the full range of financial and management reports you need to manage your inve... learn more about OSAS
- FlexiAssets® brings together the management of capital projects
Flexi is among the most experienced accounting software providers in both the cloud and on-premise markets. Organizations of all sizes, particularly those with complex accounting requirements such as multi-entity and intercompany accounting needs, are benefiting from Flexi’s value: rich features, flexible deployment, easily customized, low maintenance and highly rated support, all at an attracti... learn more about Flexi
- Track, manage and comply your enterprise fixed assets
Comprehensive Fixed Assets Management Solution. It effectively manages end-to-end asset life cycle, calculate Depreciation as per Companies Act 2013, generate Reports & perform Fixed Asset Auditing.Track, manage and comply your enterprise fixed assets across group companies or individual branches along with asset verification. With web based, mobile friendly and cloud ready Tracet solution address... learn more about Tracet
- It allows you to easily track assets and calculate your clients' depreciation automatically.
The fixed asset accounting software from ProSeries allows you to easily track assets and calculate your clients' depreciation automatically.Intuit ProConnect ProSeries Fixed Asset Manager is available as a compatible add-on solution for ProSeries Professional or stand-alone software.Easily track assets and calculate your clients' depreciation automatically. Updates include increased section 179 ex... learn more about ProSeriesVISIT WEBSITEFree TrialN/AEntry Level Price$338.00 per One-time
- NOW THERE’S A SIMPLER WAY TO MANAGE ALL OF YOUR FIXED ASSETS
PowerPlan software provides financial insight into how complex rules and regulations impact your organization – empowering you to make credible decisions that improve overall corporate performance. The integrated solution provides complete visibility starting with forecasting and monitoring to scenario planning and analytics while maintaining financial compliance.... learn more about PowerPlan
- Fixed Asset Depreciation Software
Whether you have 15 assets or 150,000, Asset Keeper Pro can handle it. Our diverse and extensive user base ensures that whatever your needs, chances are it has already been asked for and implemented in Asset Keeper Pro.If you are a professional accountant and will be processing your client's fixed asset data for tax preparation, you can rest assured that Asset Keeper Pro is 100% tax compliant. ... learn more about Asset Keeper
- #1 Affordable, Custom CRM Software for Businesses.
A custom CRM for growing businesses of any size. Grow bigger and build better customer relationships through Centra hub CRM. Centra Hub CRM is fully customizable, which is integrated with sales, marketing, and service. It has excellent experience in offering highly customizable CRM solutions. Automates lead generation, nurturing, and support for all growing businesses. Centra Hub is a cloud-based ... learn more about CentraHub CRMVISIT WEBSITEFree Trial30 daysEntry Level Price$10 per Month
- IT Management – With The Power of Freedom
GLPI is an incredible ITSM software tool that helps you plan and manage IT changes in an easy way, solve problems efficiently when they emerge, and allow you to gain legitimate control over your company’s IT budget, and expenses.... learn more about GLPI
- Robust, User-Friendly & Intelligent. Beyond Software.
A1 Tracker is to solve many of the problems we see customers facing with other off-the-shelf products, which are costly and limited to meet unique business requirements. One such problem is integrating other systems with core systems, such as HR, ERP, and manufacturing. A1 Tracker dealt with this problem face on by design a dashboard system capable of reporting on multiple & external data sources,... learn more about A1 Enterprise
- The Ultimate Asset Tracking Software
itemit is the ultimate asset tracking software. With itemit you can track the status and location of your tools, equipment, IT assets, and fixed assets. Use our features, such as asset booking, issues management, hierarchical locations, collections, public profiles, and QR code asset tracking to improve your accountability and transparency over your assets. Export asset information in stream... learn more about itemitVISIT WEBSITEFree Trial14 daysEntry Level Price$12.99 per Month
- Intelligent Fixed Asset Management Solution
ASSURE by Mynd is a SaaS tool that helps you manage and track your fixed assets and inventory related tracking task. ASSURE is a comprehensive, configurable and scalable solution which meets all your asset centric requirements. It enables users to conduct comprehensive, cost-effective physical audits using Barcode labels and RFID tags. ASSURE gives you a detailed report on depreciation, AMC, wa... learn more about AssureVISIT WEBSITEFree TrialN/AEntry Level Price$50 per Month
- Visibility to Assets and Processes Anytime, Anywhere
Transcendent® is an operations management software providing customer, employee, and asset information beyond the traditional office. We help you track assets, improve workflow, and provide a better return on investment. Transcendent is in 6 continents, 70 countries, and speaks 20 languages. Discover how facilities are using our software to manage, track, and protect assets and inventory from pla... learn more about Transcendent
- See tomorrow. Today.
AssetFinda has been respected as a world leader in advanced asset management systems since 2000. Our client base includes all levels of government and leading private enterprises throughout the world. Everything about our product has been designed to help our clients optimise the life cycle of their assets and predict the future with precision. Our unique technology to enables your community to mo... learn more about AssetFinda
- Much More Than A CMMS, Aladdin is Feature-Rich & Easy-to-Use
Aladdin, is a cloud-based asset lifecycle management solution in Dubai powered by Microsoft Azure. Aladdin, connects the office with the field. Aladdin, is not ‘nice-to-have’ – it’s mission critical. Aladdin, gives you real-time visibility of all your fixed assets wherever they may be. Aladdin's Web and Mobile Applications ensure you can identify and address emergency maintenance issues wh... learn more about Aladdin
- xAssets Fixed Asset Management Software
xAssets Fixed Asset Management is full lifecycle a browser based Fixed Asset Register with functions covering Asset Management, Depreciation and Asset Accounting, Maintenance, Barcoding and Asset Lifecycle Processes including Procurement and Disposal. It has a comprehensive integration toolkit with built-in connectors to many common systems, and if an integration isn't supported, it can be added e... learn more about xAssets Fixed Asset Management
- Ultimate flexibility for project and asset lifecycle management
Oracle's Primavera Unifier Project Controls Automate, track, and manage budgets, commitments, spends, forecasts, and business processes within the organization and across the supply chain, including design coordination, field engineering, construction administration, and moreDrive best practices that increase visibility and efficiency. Leverage extensive configurability along with prebuilt process... learn more about Primavera Unifier
- THE SOFTWARE PLATFORM FOR THE MANAGEMENT OF ASSET, PROPERTY AND FACILITY MANAGEMENT PROCESSES.
Easy Pro Suite is the software solution for the integrated management of all the operational processes of Asset, Property, and Facility Management related to corporate assets. Software solution for integrated management of all asset, property, and facility management operating processes. Real estate and movable assets are of great importance for all companies as they are instrumental elements of b... learn more about Easy Pro Suite
- Complete Hardware Asset Management Solutions
Asset Vue, LLC is a Paoli, Pennsylvania based provider of RAIN RFID asset management and data center management solutions. The company offers technology designed to solve the kinds of regular challenges faced by “data center people” in their daily roles and their strategic responsibilities that is not found in other tools. The passive-RFID solution represents the culmination of living and work... learn more about Asset Vue
- ERP Software For Manufacturing Industry.
Focus MRP is an advanced ERP solution for manufacturing units/plants, which enables establishments to gain end-to-end traceability of entire plant operations. The industry-specific ERP software systems from Focus Softnet enable you to manage all your business challenges efficiently and ensure that you never fail in delivery, while keeping quality intact and your costs controlled. Implement our mod... learn more about Focus MRP
- Software for smarter operations
Dude Solutions is a leading software-as-a-service (SaaS) provider of operations management solutions to education, government, healthcare, senior living, manufacturing and membership-based organizations. For nearly two decades, Dude Solutions has inspired clients to create better work and better lives. We combine innovative, user-friendly technology with the world’s smartest operations engine, e... learn more about Asset Essentials
- Introduction to Buyer’s Guide For Fixed Asset Management Software
- Why Analyzing the Asset Depreciation Is Important For Business Organizations?
- What Are the Challenges of Fixed Asset Management?
- What Is Fixed Asset Management Software?
- What Is the Difference Between Fixed Asset Management Software And Inventory Management Software?
- Why Does Your Business Need Fixed Asset Management Software?
- What Are the Benefits of Fixed Asset Management Software?
- Essential Features of Fixed Asset Management Software
- Key Considerations to Take In Account Before Investing In Fixed Asset Management Software
- Is It Worth For Small Businesses to Invest In Fixed Asset Management Software?
- Latest Trends In Fixed Asset Management Software
- What Is The Average Cost of Fixed Asset Management Software?
- Why Refer to Goodfirms' List of Fixed Asset Management Software?
Introduction to Buyer’s Guide For Fixed Asset Management Software
Fixed assets cover a large part of business investment, and most business enterprises aim to get maximum ROI from it. Some examples of fixed assets include; Buildings, Computer equipment, Computer software, Furniture and fixtures, Machinery, Office Equipment, Vehicles, whereas, intangible assets include Patents, Licenses, Copyrights, Land, Leasehold items, etc. Management of these assets are critical for improving business efficiency and minimizing procurement costs. Fixed assets are also important from an accounting perspective, and help organizations take tax benefits by recording them in the account book.
Fixed asset management is a detailed process, which includes tracking fixed assets, disposing assets, and calculating depreciation. The manual asset management process has limitations, and it is not feasible to use in a dynamic work environment. Business owners require an asset management system that is accurate and accountable. The traditional approach can become extremely complex and misleading when an organization is dealing with large business operations. Fixed Asset management software can make these tasks effortless. It automates all asset management activities such as tracking assets, calculating depreciation rates, transfer of assets, preparing reports, etc. However, the choice of asset management software could vary based on the business size and type. It is recommended that the organization choose the asset management software that meets the organization's needs.
This buyer guide on fixed asset management software is designed for business owners and professionals planning to include fixed asset management software in their organization. The buyer guide gives vital information about the fixed asset management software such as cost, essential features, benefits, latest trends, etc., which helps them make informed decisions on software choice.
Why Analyzing the Asset Depreciation Is Important For Business Organizations?
Measuring fixed asset depreciation is essential for business organizations to reduce expenses on managing assets such as machinery, equipment, vehicles, etc. Depreciation measures the declining value of assets and helps business enterprises match the business costs against the revenue. It is also valuable in lowering the tax liabilities. The depreciation expenses reduce the organization’s revenue, and less revenue means paying less tax. By monitoring the asset depreciation, business owners can decide on buying new assets or replacing them with new ones.
What Are the Challenges of Fixed Asset Management?
- High volume of data: Fixed asset management involves a lot of documentation, and as the organization expands its operation, the volume of data also increases. It is a challenging task for an administrator to manage the high volume of data and extract details about particular assets from it.
- Lack of accountability: The asset management process sometimes involves moving assets to other sites or disposing them. Any error in registering this information can deprive the organization of utilizing the assets efficiently.
- Unplanned Maintenance: Sticking to a regular maintenance schedule is the key to the long life of assets. However, staying consistent with the maintenance work is a big challenge in asset management. Organizations that do not plan their maintenance usually face high maintenance costs.
- More time in Auditing: Organizations that use the spreadsheet for asset management are prone to errors, and it is easy to overlook these errors. Higher error rates and inconsistency in the asset management process can make auditors' tasks difficult.
What Is Fixed Asset Management Software?
Fixed asset management software is a tool that allows organizations to manage their fixed assets efficiently. Fixed assets take a significant amount of an organization’s expenditure, and tracking their useful life or depreciation rate is essential for conducting business operations. Best fixed asset tracking software helps organizations to automate the process and track their assets throughout its life-cycle. It enables an organization to plan and schedule maintenance for enhancing the useful life of assets. It also has a great value from the point of financial reporting and accounting.
What Is the Difference Between Fixed Asset Management Software And Inventory Management Software?
- Fixed asset management software: Fixed asset management software tracks the equipment and supplies that the organization uses to run the business. It is a systemic approach to manage the entire life-cycle of assets right from procuring, maintaining, upgrading, and disposing of the assets.
- Inventory management software: Inventory could be a final product, raw material, or work in progress goods that a company holds for a short period of time before being used or sold. Inventory management software is a tool that is focused on tracking, managing, and organizing the products that comes in and goes out of a company’s warehouses and store.
- Asset management software and inventory management software both are used to track the company’s property. However, the goal of asset management software is to track items that the company uses internally and are not for sale. Inventory management software tracks items that are for sale or used to prepare the final products.
Why Does Your Business Need Fixed Asset Management Software?
Fixed asset management software can reduce the friction in managing various assets of the organization. It helps the organization to take complete charge of their assets and see that assets perform well to achieve the business goal. Best fixed asset software enhances the supply chain visibility and reduces capital expenditures. Organizations that are undergoing the growth phase generally see higher financial risks and operating costs. Fixed asset management software can reduce their financial risks by tracking the entire asset lifecycle and help decide on procuring new assets. The latest development in technologies such as RFID and NFC systems further fine-tunes the asset management process. The software's ability to measure the depreciation rate automatically allows the business owner to determine the useful life of the assets. The data analytics feature of fixed asset management software gives business owners detailed information on asset usage and performance. It allows them to respond faster and make the right decision on asset allocation.
Asset-intensive organizations can derive great value from fixed asset management software; however, to achieve this, it is essential that business owners have detailed insights on the software and the benefits of fixed asset management software.
What Are the Benefits of Fixed Asset Management Software?
- Enhances equipment life: Fixed asset management software reduces the asset’s depreciation rate and increases the life of the equipment. Through asset management software, companies can plan and schedule necessary maintenance and calibrations.
- Location tracking: The best fixed asset management software comes with location-tracking features and helps track the physical location of assets. It means the company can reduce the risks of misplacing equipment and quickly locate the asset.
- Detailed spend analysis: Organization can have a clear view of the asset’s spending. They can perform a complete analysis of the actual cost that the organization bears in maintaining the assets. They can also predict future expenses for maintaining these assets, such as parts replacement or refurbishment.
- Cutting unnecessary expenses: Top fixed asset management software can help business organizations in making a decision on new purchases. It provides them with all the necessary data to prioritize their purchase and reduce unnecessary expenses.
- Centralized data: A centralized data for assets could be very helpful while conducting audits for the asset. Best fixed asset software makes the audit process easy and valuable. Fixed asset management software can store all the information right through procurement till its current condition.
- Eliminate ghost assets: Fixed assets management software keeps the business owner informed about the present condition and location of the assets. But more importantly, it identifies and eliminates the “Ghost Assets.” Ghost assets are those assets that are lost, stolen, or unusable. Without any knowledge about the “Ghost Assets,” organizations can end up paying unnecessary insurance and taxes on these unused assets. Without clear visibility of “Ghost Assets,” management can even make the error of ordering the same item twice.
- Facilitate in calculating depreciation: For calculating depreciation rate, it is necessary to have the records of all the bills and invoices. The fixed asset management system allows users to maintain all the details of the financial documents.
- Minimize human errors: By automating the asset management process, the business owner can reduce the risks of human errors and reduce labor costs.
- High productivity: Fixed asset management system ensures that all the equipment and assets are in good condition and upto date. By providing tools in good shape the employees can perform their work more efficiently and enhance their productivity.
Essential Features of Fixed Asset Management Software
- Accessory Tracking
- License Tracking
- Inventory Tracking
- Kit bundles and kit templates
- Robust security
- Custody verification
- Electronic signature capture
- Mobile apps
- Automated workflows
- Overdue loan email alerts
- Barcodes and QR-Codes
- Custom QR labels
- Import / Export data
- Reservations with calendars and alerts
Key Considerations to Take In Account Before Investing In Fixed Asset Management Software
- Tracks Assest’s physical location: Tracking the real-time location of assets can be of significance from the point of conducting the audit. The users can see the current status of their assets and cross-check assets ownership. Technology such as RFID and Barcode helps to collect real-time data about the assets.
- Third-party tool integration: Top fixed asset management software should easily integrate with third-party tools. It can help organizations to take advantage of other tools such as accounting or inventory management software.
- Maintenance Schedules and alerts: Regular maintenance can keep assets in good shape and enhance their durability. The best-fixed asset management software should be capable of scheduling the maintenance work and send reminders to the administrator.
- Regulatory compliance: Top fixed asset management software should meet the state and local regulatory compliance. It aids them in taking various tax benefits as well as keeps them away from penalties.
- Pricing: Different software vendors follow different software pricing, and selecting the right asset management software is crucial. Business owners should choose the asset management software that easily integrates into their system and gives high ROI. One of the easiest ways to select the right asset management software is to compare the software on the GoodFirms’ listing page.
- Flexible: Best fixed asset software should be flexible enough to meet the rising need of the organization. If the software is not scalable, it could add extra costs to the organization in procuring new software and training the staff.
- Meeting business goals: Selecting some random fixed asset management software cannot help enterprises to take optimum advantage of it. It is recommended that business organizations match their requirements with best-fixed asset tracking software to reap maximum benefits.
Is It Worth For Small Businesses to Invest In Fixed Asset Management Software?
Yes, fixed asset management software for small businesses can save their valuable time and resources. In fact, it is critical for small businesses to have a systematic approach to their asset management process.
Small businesses usually prefer spreadsheets and manual asset management processes to manage their assets. But these methods can leave a trail of issues such as inefficient flow of supplies, higher maintenance costs, more administrative work, duplicate orders, etc. For small businesses to survive, cash outflow is equally crucial as cash inflow. Mismanaged assets can rapidly increase the cash outflow and adversely affect the overall revenue. Small business cannot afford to make a wrong decision on asset management with limited budget and resources. These can be prevented if small businesses incorporate the best-fixed asset tracking software in their infrastructure. Fixed asset management software for small businesses provides a centralized system to control their assets and get the most value from them. It can track any number of assets and helps to accurately calculate depreciation expenses. The data analytics feature in asset management software provides them with a clear view of their asset usage and its current condition.
The fixed asset management software market is broad, and there are tons of software available with a range of features and pricing. Based on the budget criteria and requirements, small businesses can choose the software. Some software vendors also offer free fixed asset management software ( basic version) with limited features. Besides that, there are online fixed asset management software available in the market, which gives users the liberty to use software from anywhere and without worrying about the installation or software set-up.
Small businesses can make the best use of their resources with the help of top asset management software, but companies should also keep an eye on the latest trends to keep pace with the evolving business trends.
Latest Trends In Fixed Asset Management Software
- Blockchain: Blockchain is a disruptive technology that is currently transforming many business organizations and their processes. The decentralized mechanism gives more security and transparency to business processes. Monitoring and tracking fixed assets could become relatively easy with blockchain technology. All documentation work can be carried out on blockchain, and all the information related to assets can be accessed in real-time. It means that it reduces interdependency and gives the organization more control over its assets.
- IoT: Electronic components are connected more seamlessly than they used to do a decade ago. IoT has empowered the communication between electronic components through powerful sensors. IoT sensors can enhance the asset management process, and they can help in various processes such as maintenance, cost tracking, asset optimization, etc.
What Is The Average Cost of Fixed Asset Management Software?
The average cost of fixed asset management software could be anywhere around $8/month to $350/month or more. The price of the software can vary based on features, deployment options, and the number of assets to be tracked.
- Best fixed asset management software for startups and small businesses: Fixed asset management software solutions are vital for startups and small-scale businesses to keep track of the company’s fixed assets. However, buying any fixed asset management software is not recommended for small-scale businesses and startups. They need a fixed asset management system that addresses all their concerns without exceeding the budget. AssetTiger at a price of $8.30/month, is the best-fixed asset management software for startups and small-scale businesses. AssetTiger allows unlimited users and access to free fixed asset management software to track upto 250 assets. It comes with robust security features, mobile support, alerts, reports, etc. Xero at a price of $11/month is another popular fixed asset management software for startups and small-scale businesses. Users can track fixed assets such as vehicles, machinery, hardware, office equipment, etc. The software can generate reports and shows asset depreciation value in a graphical presentation. In addition to that, users can take advantage of accounting features such as bank reconciliation, send invoices, payments, etc. The tool offers a free trial. Startups and small-scale businesses can also tap on other fixed asset management software alternatives such as openMAINT, SNIPE-IT, Ralph, and Infraon Assets.
- Best fixed asset management software for mid-size and large scale businesses: Unlike small businesses, mid-size and large-scale businesses deal with more assets and amenities. They require a bit more advanced and powerful fixed asset management software that can track all their assets seamlessly. EZOfficeInventory at a price of $40/month is the best-fixed asset management software for mid-size businesses. It gives more control over the fixed assets by providing features such as history tracking, location management, creating QR codes and Bar-code labels, vendor management, external data backups, etc. The software can be easily upgraded to a higher version if a business wants to leverage some exclusive features. Other excellent fixed asset management software for mid-size businesses is UpKeep at a price of $45/month. The software has some notable features, such as preventive maintenance and custom dashboards. There are other tools that are good options for asset management, include Assure, Reftab, and AssetMint. For large organizations, high-end tools such as PocketSurvey at a price of $351/month can turn out as a good option. It is widely used for construction site inspection and asset management. Other alternatives that users can consider in premium range fixed asset management software are Smart Field Forms and GoCodes. Both these tools offer free trials.
- Free and Open Source fixed asset management software: Free and open source fixed asset management software provides an enormous opportunity for users to explore new features without incurring any software development costs. Free and open source fixed asset management software could be a cost-effective solution for small-scale businesses and startups looking to track and manage their assets.
Why Refer to Goodfirms' List of Fixed Asset Management Software?
GoodFirms is a leading review and rating platform for IT solutions. It has been listing software solutions for various organizations and industries. GoodFirms team follows an unbiased and proven method to list software solutions and ensure that consumers get access to the genuine product. Customers can choose the software solutions by comparing them on various attributes such as pricing, services, and features. The list of the best fixed asset management software widens up the spectrum of your software choice and allows you to find the software that meets your business goal.
Keeping track of assets during its life cycle is essential for optimizing the business performance. However, managing assets right through procurement till its sign-off demands a lot of work such as documentation, approval, and recording all details about the assets. Manually managing tasks could be pretty overwhelming, especially when business owners are undertaking various other business operations. It is imperative that businesses automate the asset management process and take away all the redundancies from the asset management process. Fixed asset management software enables business owners to extend the life of their valuable assets and save costs on unnecessary purchases. If you want to improve the performance of your assets and make them more reliable, then do not miss to invest in this software. Check the list of top fixed asset management software prepared by the GoodFirms expert team.