Best IT Asset Management Software
Explore the list of the best IT Asset Management (ITAM) software for your organization:
Managing effectively all IT assets is more critical for organizations than ever before. But, overseeing the governance of IT assets, especially if your organization encourages remote working or a work-from-home culture, where the spotlight shines brightly on data protection and security, is a massive task without adequate support of the IT Asset management software. The best IT Asset management software makes your governance easy, enables both short-term IT cost-cutting and long-term IT cost optimization. IT asset management, incident response, and vulnerability management are easier with ITAM software.
What is IT Asset Management Software?
IT assets management software is an application tool that helps organizations in managing their IT assets (Hardware and Software) and their life cycle. ITAM software streamlines everything from procurement, allocation, deployment, retrieval, distribution, and replacement to resale and disposal of IT assets. It details and centralizes all crucial aspects of IT asset management- operational aspects such as usage, functionality, performance, configurations, etc. financial aspects such as procurement costs, vendor info, etc., physical aspects such as the location of the asset, ownership details, current deployment, etc., contractual aspects such as subscription, license, lease, agreement, etc., and security aspects such as access permissions, and control.
How to Select the Best IT Asset Management Software for Your Organization?
With the right tools, IT managers can centralize administration and create an infallible system to manage their valuable IT assets. However, choosing the right ITAM solution can be challenging considering the complexities of the IT asset management field. This is where GoodFirms’ accurate and authentic list of the best IT asset management software can help IT managers to select the most suitable ITAM tool for their organization without hassle. Curated by GoodFirms’ experienced software research team, the list allows you to choose from the top IT asset management software available in the market. Check out the below list with verified customer reviews and ratings, apply filters, check pricings and choose wisely.
List of the Best IT Asset Management Software | Best ITAM software (49 Software)
- Making Endpoint Management and Security Easy
Syxsense Manage lets users see and manage all endpoints inside and outside the network with coverage for all major operating systems and endpoints, including IoT devices. Syxsense provides users with a complete view of their IT infrastructure with an intuitive interface, and all-inclusive features. The service is designed to provide full endpoint intelligence with OS, hardware, and software inv... learn more about Syxsense Manage"Excellent Software for Patching, Automation, & Vulnerability Scanning"Bryan MatthewVISIT WEBSITEFree Trial14 daysEntry Level PriceContact Vendor
- 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
- 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 PandaVISIT WEBSITEFree Trial14 daysEntry Level PriceContact Vendor
- Ultimate All-In-One RMM Suite for MSPs & IT Pros
Atera is a cloud based all-in-one remote monitoring & management (RMM) software suite for IT service providers. Atera includes everything you need to grow your IT business in one, integrated solution. Ateras fixed monthly pricing model helps IT businesses of all sizes grow with no extra costs. All plans include unlimited devices monitoring, Its that simple. Get your free 30-day trial today. No cre... learn more about Atera"Multiple activities done under one platform"Daniel Tobon, President at Tsquared, LLCVISIT WEBSITEFree Trial30 daysEntry Level Price$79 per Month
- IT service desk that's actually simple.
Freshservice’s intuitive, intelligent, no-code solution acts as a force multiplier, helping businesses of all sizes achieve efficiency, effectiveness, and greater ROI. Modernize IT and other business functions with a refreshingly easy-to-use, simple-to-configure IT service desk solution in the cloud. Simplify the service environment so that key information and workflows are available at the read... learn more about FreshserviceVISIT WEBSITEFree TrialN/AEntry Level Price$19 per Month
- Most Agile ERP on the Planet
ERPNext is a web-based, open source application that helps small, medium, and enterprise business manage their Accounting, Inventory, Sales, Purchase, Manufacturing, Projects, Customer Support and Website.ERPNext is available as a hosted solution with affordable annual plans ... learn more about ERPNext
- Businesses run better with Spiceworks.
Spiceworks was founded in 2006 with a mission to simplify the IT workday, and we’ve been at IT ever since! We’re the global IT marketplace that connects millions of technology buyers and sellers so they can get their jobs done, every day. We help tech professionals find, adopt, and manage the latest technologies while also helping tech brands build, market, and support better products and serv... learn more about Spiceworks
- Control your IT assets—and your bottom line
BMC helps customers run and reinvent their businesses with open, scalable, and modular solutions to complex IT problems. Bringing both unmatched experience in optimization and limitless passion for innovation to technologies from mainframe to mobile to cloud and beyond, BMC helps more than 10,000 customers worldwide reinvent, grow, and build for the future success of their enterprises, including 9... learn more about Remedy Asset Management
- 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
- IT Asset Management Tool for your Business
ManageEngine AssetExplorer is a web-based IT Asset Management (ITAM) software that helps you monitor and manage assets in your network from the Planning phase to the Disposal phase. AssetExplorer provides you with a number of ways to ensure the discovery of all the assets in your network. You can manage software & hardware assets, ensure software license compliance, and track purchase orders & con... learn more about ManageEngine AssetExplorer
- Discover Your IT
Managing IT has never been a bigger challenge. Hardware, software, and users can be anywhere at any time, making IT environments extremely dynamic and often complex. A seemingly simple question has become terribly difficult to answer: ‘Who is using what?’ This question inspired Lansweeper and still drives us today. We believe that answering it is crucial to tackle and simplify many of the chal... learn more about Lansweeper
- It allows users to simplify and automate
Belarc’s cloud architecture allows users to simplify and automate the management of all of their desktops, servers and laptops throughout the world, using a single database and Intranet server.BelManage automatically creates an accurate and up-to-date central repository (CMDB), consisting of detailed software, hardware, and security configurations.Our products are used for software license m... learn more about Belmanage
- IT Service Automation - Get IT Done
SysAid uses service automation to make IT work smarter, not harder. With a help desk that practically manages itself, millions of users around the world enjoy faster service, lighter workloads, and a way smoother service experience. It makes every aspect of ITSM so breezy and automatic, freeing up IT from the grind and instead, allowing them do the things your business really needs to keep going s... learn more about SysAid
- IT Asset Management Software
AssetSonar is an IT asset management software that helps you organize, track, and report on your technology landscape from a single space. Built for IT departments with their workflows in mind. AssetSonar saves you time by making it easy to track and manage IT assets across different locations and departments. Effective IT service delivery requires a robust support system to add the most value to ... learn more about AssetSonarVISIT WEBSITEFree Trial15 daysEntry Level Price$69.99 per Month
- AUDIT MANAGEMENT SOFTWARE THAT WORKS FOR YOU.
Onspring promotes efficiency, transparency, and control across your internal audit process. Our cloud-based software helps you plan strategically, deliver tactically and elevate the performance of your IA department. With Onspring’s internal audit management solution, you can: Align audit plans with your organization’s most significant risks and objectives, Manage work papers, findings, review... learn more about OnspringVISIT WEBSITEFree TrialN/AEntry Level Price$175 per Month
- Take More Informed Decisions with Motadata IT Asset Management Software
Motadata IT Asset Management Software lets you operate, maintain, deploy, up-grade and dispose of IT assets in a systematic way. Turn IT teams more productive by offering them greater visibility and control over both hardware and software assets, that enables them to fight day-to-day IT issues and problems, that helps in minimizing downtime that impact businesses. Moreover it keeps a track of ever... learn more about Motadata Asset Management
- Discover devices, software and cloud services on all platforms
Snow Software is changing the way organizations understand and manage their technology consumption. Our technology intelligence platform provides comprehensive visibility and contextual insight across software, SaaS, hardware and cloud. With Snow, IT leaders can effectively optimize resources, enhance performance and enable operational agility in a hybrid world. From self-service technologies for ... learn more about Snow Software
- So fast and easy, IT's already done!
PDQ Inventory is a systems management tool that scans Windows computers to collect hardware, software, and Windows configuration data. With PDQ Inventory, users can create customized collections to identify machines that need software updates--all remotely. We recommend using these collections along with PDQ Deploy to automate Windows patch management. Our products are designed to work togethe... learn more about PDQ InventoryVISIT WEBSITEFree Trial14 daysEntry Level Price$500.00 per Year
- 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
- Cloud IT management solution for MSP & Enterprise
Action1 is a cloud-based RMM solution for enterprise IT professionals and MSPs alike. Start free trial: https://www.action1.com/signup.html Action1's Remote Monitoring and Management platform encompass core tools for remote IT management: Patch Management Software Deployment & Distribution Remote Desktop & Access IT Asset Management System Management Network Monitoring Endpoint Secur... learn more about Action1 Cloud Remote Monitoring and ManagementVISIT WEBSITEFree Trial14 daysEntry Level Price$1 per Month
- Smarter Asset and Inventory Management
Get control of your IT investments with the Teqtivity asset management solution. Teqtivity helps businesses track the complete lifecycle of an asset. Our software lets you track the asset from the point of origin through to disposal, and every activity in between, such as assignment, installation, loaned, damage and more. Teqtivity seamlessly integrates with your other systems, such as Active D... learn more about TeqtivityVISIT WEBSITEFree Trial90 daysEntry Level PriceContact Vendor
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
- The platform for Asset Management
CMDBuild is the open-source web environment for the configuration of custom applications for Asset Management. With CMDBuild you can build and extend your own CMDB, modeling it according to the needs of your organization. You can configure workflows, reports, dashboards, scheduled operations and checks, manage documents, georeference your asset in maps or view them in 3D models. You can also inter... learn more about CMDBuild
- 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
- IT Asset Management Software
Reduce spending, get compliant, increase productivity and gain deep insights into your IT, software and cloud assets. Rapid implementation - easy configuration means we can deliver in very short timescales providing early return on investment and excellent time to value.... learn more about xAssets ITAM
- THE SIMPLEST SOLUTION FOR IT SYSTEMS MANAGEMENT
Miradore is specifically designed for managing diverse IT environments containing desktops, laptops, servers, tablets, smart phones and POS devices. In Miradore, management processes for different hardware and software platforms have been seamlessly integrated as one, unified management solution that supports a wide range of device platforms, including: Windows, MacOS, Linux, iOS, Android and Wind... learn more about Miradore Management SuiteVISIT WEBSITEFree TrialN/AEntry Level Price$4 per Month
- A digital experience monitoring solution that reduces IT costs and improves end-user experience
SysTrack gathers and analyzes data on everything that may impact end-user experience and business productivity. By capturing 10,000+ data points every 15 seconds from each endpoint in your environment, SysTrack provides you the visibility you need to lower IT costs and optimize operations while improving business productivity. How? By providing you the data and functionality to lower the volume of... learn more about SysTrack
- Network discovery and IT inventory
JDisc Discovery automatically inventories and creates IT documentation for your entire network and detects all important operating systems (including HP-UX, Solaris and AIX). The IT documentation includes hardware and software information, IP networks, Windows domains and Active Directory installations. In addition, JDisc Discovery identifies all important virtualization technologies as well as ma... learn more about JDisc Discovery
- Manage Your Organization's Computers
Chances are your organization has an assortment of desktops, laptops, and servers. As an organization grows, and these machines multiply, managing them all can become a major issue. OptiTune offers one of the best solutions to date. It has been precisely designed to maximize efficiency and simplicity of IT management in any size operation. It allows you to take control of all computers within your... learn more about OptiTuneVISIT WEBSITEFree Trial30 daysEntry Level Price$3 per Month
- Create plans, request and assign staff to specific tasks, and track
ServiceNow Resource Management helps project and resource managers create plans, request staffing for projects, and assign people to specific tasks. ... learn more about ServiceNow
- A new and better Apple management at work.
Powerful iPhone, iPad, Apple TV, and Mac management software to make your life easier while reducing overall IT costs of your business. Mosyle Business streamlines workflows to manage, deploy, and scale Apple deployment in Enterprise. Mosyle Business provides Apple mobile device management solutions to support technology teams deploying Apple devices, simplifying technology adoption, and redesigni... learn more about Mosyle BusinessVISIT WEBSITEFree TrialN/AEntry Level Price$1 per Month
- vScope helps IT departments visualize key information for those who need it most.
vScope helps IT departments visualize key information for those who need it most. vScope is an asset management platform that enables IT professionals to do more with less. Based on the industry-leading network discovery, vScope offers something to every role in the team.... learn more about vScope
- Improve Data Center Efficiency & Management.
DCIM integrated as a component of, or complement to, ITSM and BMS systems create an end-to-end DCSM solution, which is the end game for organization looking to optimize their data centers and build an efficient and reliable foundation for service delivery. ... learn more about Nlyte DCIM
- Next Generation DCIM Software + Service Desk.
NetZoom DCIM Solutions focuses on providing software solutions for data center professionals helping them to model, monitor, manage, access and control Physical, Virtual and Cloud IT Infrastructure, along with Facility Infrastructure to create the source of truth with an emphasis on capacity analysis and optimizing power, space and cooling to achieve increased server utilization, virtualization an... learn more about NetZoom
- Service Desk Software to improve your business
Deepser is a complete solution to manage your support requests, your daily activities and your organisational processes. Deepser is a software house that develops, produces and sell innovative products and services with high technological value. Its main product is Deepser, an IT service management software. Deepser is an innovative and intuitive ITSM solution, with an interactive web interface. ... learn more about DeepserVISIT WEBSITEFree Trial7 daysEntry Level PriceContact Vendor
- Intelligent, automated remote monitoring and management software.
Boost the effectiveness of your IT teams and simplify every aspect of your business with flexible remote monitoring and management from ConnectWise Automate. Gain better visibility, remove delivery roadblocks, and increase service without increasing costs through a solution that helps you master discovery, management, patching, monitoring, and automation. Eliminate blind spots in your supported en... learn more about ConnectWise Automate
- Everything you need for IT – all in one place
HaloITSM is an IT service management solution that helps businesses streamline the entire incident lifecycle, from ticket creation to issue resolution. It enables professionals to update the status of incidents and view details including ticket ID, priority level, issue summary, and date created. HaloITSM allows organizations to link new incidents with existing requests and share potential solu... learn more about HaloITSM
- Bar Code Asset Management System
Since 1988, Bar|Scan® has been an affordable turnkey inventory and property asset management suite using Mobile Computer and Phone technology for data collection with Wi-Fi and email connectivity. Bar|Scan® has a menu driven SQL based report generator and menu driven, ODBC capable, import and export feature built in. There is no need to customize software or scripts to meet your expectations.... learn more about Bar|Scan
- Complete CMMS Software Designed for SMEs
Smartspanner is designed for small and medium companies to get control of maintenance tasks, manage your team and ensure you stay compliant. Smartspanner is a cloud hosted CMMS application for small to medium sized companies. Easy to use, fast and intuitive users can self on-board, set up using our online tutorial videos and enjoy free and unlimited online and telephone support. Suitable for compa... learn more about SmartspannerVISIT WEBSITEFree Trial14 daysEntry Level Price$15 per Month
- 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
- Take charge of the Asset Lifecycle and Expenses
Infraon Assets is a powerful Software license management and Hardware asset management tool that helps you track, manage and control all of your enterprise's IT assets efficiently. A single source of truth that allows you to extract ROI and make informed asset management decisions. Easy fixed asset lifecycle management, starting from procurement, spares, repairs to retirement. Gain control over wa... learn more about Infraon AssetsVISIT WEBSITEFree TrialN/AEntry Level Price$240 per Year
- Manage Office Assets With Ease
Track and manage your business assets with ease. Our all in one solution includes patented QR code tags, free smartphone scanner apps and easy to use cloud based software to efficiently manage all your office assets. Now you can check-in and check out office assets in seconds. Top Features • Cloud-based asset management manage assets from anywhere at any time) • Realtime asset audit with... learn more about SeQure AssetVISIT WEBSITEFree Trial14 daysEntry Level Price$29 per Month
- IT & Network Support. Anywhere in the UK
BLiTS is an end-to-end IT Service Management (ITSM) Platform and Marketplace transforming the traditional approach to service delivery into automated IT operations to lower costs, increase efficiency, and drive innovation. It combines the ITSM tools, CMDB and app marketplace, and revolutionizes the provision of IT services, including SaaS, hardware and infrastructure. The entire BLiTS platform is ... learn more about BLiTS
GLPI is an ITSM powered by open source technologies. We offer features like Helpdesk, Asset Management, Financial Management, Project Management, User Management, Statistics and Reports. Both on-premises and SaaS versions are available. 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 gai... learn more about GLPIVISIT WEBSITEFree Trial45 daysEntry Level Price$23 per Month
- Real-Time Dependency Mapping Made Easy
When using VNT-Software you will gain detailed visibility of your entire IT environment. VNT's hybrid dependency mapping solution will app your application, networks, and dependencies in real-time. VNT is completely platform-agnostic and has limitless use-cases from cloud migration to change management and micro-segmentation too. When using VNT there is no requirement for firewalls to be opened... learn more about VNTVISIT WEBSITEFree Trial30 daysEntry Level Price$2 per Month
- Simple IT Asset Management Software
AssetRemix offers a streamlined software platform for managing fixed assets. Keep track of your assets, licenses, accessories and consumables with reservations and checkin & out process. Never loose track of an asset again.... learn more about AssetRemix
- GET YOUR ASSETS ONTRACK
Ontrack Workflow's cloud-based Brand Asset Management and Sending Platform streamlines the way organizations distribute marketing & sales assets while maintaining brand integrity. Starting with a custom branded portal, users can access, personalize, and send assets based on rules set by the organization. Ontrack’s automated sending platform is a powerful way to send impactful, personalized direc... learn more about ONTRACK WORKFLOW
- Make the most of your IT assets
Keep your organization cost-effective with InvGate Assets, an ITAM solution that enables you to manage, control and secure your organization's IT assets. Track remotely all changes and ownership in hardware, software, licenses, and workstations for better decision making. Gain visibility of all of the organization's IT assets' lifecycle, from procurement to maintenance and disposal.... learn more about InvGate Assets
- A unified view of your asssets inventory
InvGate Insight provides you with the tools to create a unified inventory of all network-connected IT assets, including physical, virtual, and cloud assets on the same platform. Insight is available both as a cloud service or as an on premise installation. Its capabilities include a CMDB builder, health monitoring through smart tags, IT security and compliance, contract management, and many othe... learn more about InvGate Insight
- Introduction to the Buyer’s Guide For IT Asset Management Software:
- What is IT Asset Management?
- What Are the Functions of IT Asset Management?
- What Happens Without Efficient IT Asset Management?
- What is an IT Asset Management Software?
- What Are the Benefits of IT Asset Management Software?
- What Are the Top Features of IT Asset Management Software?
- What Are the Best Practices for IT Asset Management?
- What Are the Current Trends in IT Asset Management?
- What Are the Factors to Consider Before Investing in IT Asset Management Software?
- What is the Average Cost of IT Asset Management Software?
- Why Refer to GoodFirm’s List of IT Asset Management Software?
Introduction to the Buyer’s Guide For IT Asset Management Software:
IT assets are indispensable for operational needs in digital workspaces. Modern organizations want to make sure they are able to provide IT assets to new hires, existing employees, and third-party business partners in a cost-effective manner. Unorganized, unauthorized, and unoptimized assets are difficult to identify, allocate, deploy, track, and also cause a surge in IT costs for organizations. Thus, IT asset management is critical to ensure that organizations are able to provide the right assets to the right end-user at the right time. This is where organizations can use technology to manage their IT assets and related functions. Organizations can also unleash significant cost savings by deploying an IT asset management software solution. ITAM software manages every aspect of the asset lifecycle and mitigates all challenges that IT admins face in handling their assets.
However, the selection of the right ITAM tool is imperative to successful IT asset management. With plenty of ITAM software available in the market, IT leaders and managers may find it overwhelming to pick the most appropriate tool for their organization. This buyer’s guide intends to provide a reliable solution to this dilemma by providing the most accurate and relevant analysis of all aspects related to IT asset management software. Businesses can use this guide to gain insights that will lead them to make the most profitable investment in ITAM software technology.
What is IT Asset Management?
IT asset management comprises the strategic, contractual, and financial decisions that organizations make to support their IT environment. It involves inventory functions, IT asset life cycle management, and IT infrastructure management. With efficient IT asset management, organizations can increase the life span of their assets, increase their productivity and performance, and ensure optimal IT stock levels throughout the organization.
For instance, an IT admin receives a requirement of 100 new CPUs for a newly set up department. The IT administrator wants to know:
- How many CPUs are currently in stock?
- How many CPUs are already ordered but yet to be received?
- Are there any other CPUs that are approaching their lifespan end and will require disposal?
- Has any department requested extra monitors/PCs for a project and will submit back the PC shortly?
- What are the current configurations on the existing CPUs, and what configurations are required in the new request?
- Are there any remote working requests? How many will be used?
With answers to the above questions, the IT administrator can easily know how many CPUs and in what configurations he/she needs to order and how many can be provided from the current inventory? Such data would certainly help the IT admins in the quick fulfillment of the request.
IT asset management provides organizations with complete visibility into their IT infrastructure, current systems and components in use, their costs, and license expiry dates, etc. It also helps organizations determine the accountability of asset usage.
What Are the Functions of IT Asset Management?
Various Functions in ITAM
- Stock Management: ITAM functions to manage, optimize and rationalize the inventory levels for the IT infrastructure. Also, the new devices are entered into the database and tracked through their life cycle.
- Configuration Management: Organizations work with thousands of computer systems, network-connected devices, virtual machines, IoT-enabled devices, etc. Configurations for these devices vary according to usage and functions. One function of ITAM is to ensure the right configurations are available for the devices.
- Service Management: This module helps organizations solve IT service-related issues. With self-service portals, employees can raise tickets for repair, updates, etc.
- Incident Management: In urgent situations, employees can reach IT admins via chat, email, call, etc. ITAM categorizes and prioritizes ticket resolution based on urgency and possible impact.
- License Management: This function brings all licenses under one head. It triggers automated notifications and alerts for license renewals before expiry dates.
- Requisition Management: This module manages purchase requests, purchase contracts, approval tracking, and allotment of purchased assets.
- Disposal Management: IT assets need green disposal for compliance and environment-related reasons. This module manages the assets that are lined up for decommissioning.
What Happens Without Efficient IT Asset Management?
Asset Hoarding: However rare, but there are instances in organizations where managers, departments, or employees hold onto assets that they seldom use. This brings unnecessary costs as organizations keep buying more devices even when they have the unused ones lying around.
Lack of Systematic Approach: Without efficient IT asset management, organizations lack vital information about their IT assets. Lack of organization culminates in chaos and poor visibility of the IT assets and networks. For example, admins may fail to keep track of IT devices of leaving employees or those who migrated to new departments.
Procurement Issues: When IT administrators have poor knowledge of their existing infrastructure and network assets, it becomes difficult for them to order new stocks in optimum quantities.
Discovering Assets: When IT managers keep manual entries in registers or excel sheets, it is challenging for them to know exactly the current status of assets. Also, without the automatic discovery of new devices, networks, components, etc., accurate listing of such assets in the inventory database is not possible.
Problem Solving: Employees often contact the IT admins or raise tickets for service support, troubleshooting, device replacement, etc. Without sufficient data about the software or hardware, IT admins may not be able to provide a quick redressal for the problem.
Audit and Compliance: Maintaining consistent and accurate records of current assets, service histories, patch summaries, procurement data, usage reports, and downtime info is critical to pass audits and ensure IT compliance.
Collaboration: Without ITAM, it is difficult for organizations to maintain a free flow of information and equitable distribution of IT assets and resources. Also, the collaboration between departments, senior management, cybersecurity teams, service providers, employees, and third parties is unimaginable without healthy sharing of IT resources. Every individual in an organization should know how to procure IT resources, usage policies, penalties for unfair usage, Dos and Don'ts, etc.
Enforcing asset policies: Companies determine and disseminate policies concerning IT assets fair usage by employees. However, due to the distributed nature of assets in the organization, it is difficult for companies to enforce the policies.
Renewals: Without ITAM, organizations may keep using expired software, outdated applications and forget to renew crucial licenses in time.
Fueling the Mobile / Remote workforce: Admins may also forget to update configurations, align networks, install new patches, etc. It can be challenging to allocate, install, and maintain assets for a remote workforce.
Real-time Visibility: Without ITAM, businesses cannot have full visibility of every asset that belongs to their organization. Real-time visibility is crucial for managing critical incidents and for disaster recovery.
What is an IT Asset Management Software?
IT asset management software is an application that consolidates the IT infrastructure into one system and allows organizations to create a standard process to manage their IT assets, stay compliant and reduce IT spendings. An efficient IT Asset Management software leads to better procurement plans, improved IT service quality, cost optimization, better resource allocation, and smooth installation and maintenance of IT assets.
What Are the Benefits of IT Asset Management Software?
Top Benefits of IT Asset Management Software are:
Helps IT admins discover and list all assets:
IT admins can deploy the ITAM system to discover their IT assets over entire networks and operating systems. The software scans your websites, OSes, and networks to identify all connected hardware devices and software applications. It scans Windows, Linux, and Mac operating environments, Virtually hosted machines, routers, and even connected printers. It also discovers your IT assets that are connected to your network via third-party vendors, or agent-based workstations, BYOD or remote devices, etc.
Provides full-visibility of asset lifecycle:
IT admins can get a complete view of any IT asset's lifecycle from procurement to current usage. IT asset management software has real-time records about various stages that an asset moves through in an organization--request for procurement, approval, purchase, deployment, usage, maintenance and upgrades, expiration, and disposal. ITAM software can also integrate with modern technologies such as GPS, RFID, etc., to track the real-time location of the assets in and outside the organization.
Centralizes information of all assets:
With ITAM software, IT managers can centralize all critical information about their IT assets. They can securely store all software licenses, virtual keys, encryption keys, passwords, hardware and software contract copies, etc.
Get real-time reports and analytics:
IT asset management software provides real-time reports and analytics that help organizations in assessing their IT assets’ performance and usability. In one click, IT admins can get reports about the average costs of buying desktops, licenses, average depreciation rates, average repair costs, audit reports, etc.
Saves IT asset management costs:
It helps companies manage and reduce the total cost of ownership (TCO) by enabling optimal usage of IT resources. Quick tracking and availability of IT assets improves performance and increases return on investment.
Ensures Effective Deployment of IT Assets:
ITAM software keeps track of previous configurations, maintains an audit trail, and uses a systematic approach to ensure effective deployment of newly commissioned IT assets. It also makes sure all protocols and set policies are followed during deployment.
Implements Proactive Threat Management System: Organization's hardware and software assets are constantly under cybersecurity attacks and also threatened by privilege misuse by employees. ITAM software deploys effective mechanisms to protect IT assets from all types of security risks.
Improves IT service management (ITSM) capacities: ITSM is a redressal unit of organizations for IT assets-related issues and complaints. ITAM software brings down the resolution time and enhances the service satisfaction quotient for companies. This leads to unhampered work, no productivity gaps due to assets unavailability, and increased employee satisfaction.
- Organizations can ensure full compliance with audit requirements and IT regulations
- ITAM software leads to better and rational decisions about IT infrastructure
- Organizations gain more control over their IT assets and resources
- Increased operational efficiency with aligned IT assets
- Better forecasting leads to timely acquisition of new assets
What Are the Top Features of IT Asset Management Software?
Track, evaluate, and record all IT assets, virtual IT stocks, and inventory in one place.
ITAM tools can auto-discover all software and hardware assets in your network. The auto-discovery tools can scan window domains, networks, assets, and VMs.
The ITAM software records the existing inventory and keeps updated lists and catalogs of legacy systems and IT stocks. The records include critical asset parameters such as current version, configurations, cost of the asset, name of manufacturer or vendor, etc.
Organizations can plan the maintenance, replacement, or upgrade of existing hardware and software assets.
IT admins can track maintenance history, patching information, and version histories. Admins can also track warranties, license expiry, renewal dates for subscription-based software applications, etc.
Hardware assets have a life span. Outdated or worn-out devices need disposal. With ITAM tools, admins can keep track of hardware that needs disposal.
ITAM software provides complete information about software licenses, including SKU data, entitlement, procurement date and time, vendor details, etc.
Configuration management database (CMDB) records and reports all types of predefined configurations.
ITAM software manages purchase contracts, request orders, and procurement reports.
Native mobile application with comprehensive features to manage and track your IT assets from anywhere in the world.
Alerts and Notifications:
This feature keeps IT administrators in the loop of every new incident with real-time alerts and notifications for new changes, device discovery, new requests, malfunction, etc.
ITAM software comes with integrations with other software solutions such as RFID technology, network monitoring software, patch management software, RMM software, etc.
IT admins can schedule, manage, track, and record maintenance-related activities for IT assets and resources.
Tracks the usage, performance, and capacity utilization of IT resources.
Roles and Permissions:
With IT asset management software, IT admins can assign roles, set permissions, and control access for resources.
- Contract management for IT resources procured on lease and agreement tracking.
- Automated updating of the asset inventory database
- Depreciation tracking on hardware assets
- MACD (Modify, Add, Change, and Delete) features for Asset management
- Tracking of financial impacts of assets
- Anomalous activity detection and vulnerability scans
What Are the Best Practices for IT Asset Management?
Organizations that use proven IT asset management techniques and established processes using technological tools are better positioned to manage their IT assets. Evaluating ITAM practices can achieve cost savings of 10% to 20%. Well-defined processes, documented policies, and technological assistance can help companies to create a robust IT asset management program that improves productivity and decreases maintaining costs of IT infrastructure.
Some of the best practices for IT asset management are:
- Automate: Most of the regular ITAM processes should be automated, and manual tasks should be reduced to minimum levels.
- Monitor: Organizations should have a continuous monitoring method that tracks all assets for performance, risks, appropriate usage, and unauthorized access.
- Update: Keeping all logs up-to-date always pays. When your asset data is timely updated ( preferably in real-time), it prevents all possibilities of discrepancies, misuse, mismanagement, and usage errors.
- Secure and Prioritize: Firms should identify their most valuable IT assets and protect them with access control features, 2-factor authorization, and cybersecurity defense mechanisms.
- Use Tools: Technological tools augment the asset management processes and lead companies to successful and effective IT asset management programs.
- Quantify: The improvement in performance, utilization, and ROI should be quantified to demonstrate the viability of tools and investments in the ITAM.
- Document: Documentation is critical for compliance and regulatory purposes. Right from procurement to disposal practices, everything should be well-documented to avoid regulatory penalties.
What Are the Current Trends in IT Asset Management?
Focus on ITAM Metrics:
Analysis of key ITAM metrics keeps business initiatives, goals, and objectives aligned with the benefits of ITAM. The current ITAM focuses on crucial KPIs such as inventory accuracy, cost savings, risk reduction, compliance, efficiency scores, etc.
Regulating Third-party Usage:
Today, organizations’ IT assets are not exclusively used by internal stakeholders only. Contractors, temporary employees, subsidiaries, guests, and even visitors may use IT assets for various purposes. Organizations, therefore, focus on carving out guidelines and mandates for the third-party usage of their IT infrastructure. With an increase in the work from home culture, organizations face more challenges to protect and secure their data with remote workers.
Increased Adoption of ITAM tools:
The growth drivers for ITAM software include increased cloud computing, ITSM, acceptance, and proliferation of SaaS-based applications, and automation of IT functions. The market for IT asset management is expected to cross USD 2086.59 million by 2026, at a CAGR of 11.4% over the forecast period 2021 - 2026.
What Are the Factors to Consider Before Investing in IT Asset Management Software?
Before investing in IT asset management software, businesses should carefully evaluate the following factors and seek answers to questions such as:
- What is the current IT asset management policy of your organization?
- What information and databases are currently available about your IT landscape?
- What is the IT asset management lifecycle of your organization?
- What features are required for your IT asset management for your organization?
- Whether the vendor that you have chosen provides robust customer support, free trial, or demo of its services?
- Whether the vendor has positive customer reviews, a free training program, and implementation assistance?
- What types of integrations are required by your organization?
- What are the costs, hidden charges, and registration fees, installation costs, etc.?
- What type of deployment and pricing model suits your organization? Whether there is a need for a subscription model, a licensed model, or one-time buy plans?
- Can IT asset management software provide secure data vaults and required data storage capacity?
- Is the ITAM software user-friendly and easy to navigate?
- Is the ITAM solution accessible on all devices such as desktops, laptops, tablets, mobile phones?
- Will the vendor provide free updates, upgrades, or cost-free plan migration?
- Can it work smoothly with low bandwidth internet connectivity?
Businesses should also evaluate the complexity of their IT infrastructure. Businesses spread across geographical locations or conglomerates have highly distributed IT assets. Companies that have gone through recent mergers or acquisitions have more complex IT infrastructure. Choosing cloud-based IT asset management software can be a better choice for such companies. Some companies may not require very high-end functionalities. Such companies must plan to buy starter plans with basic functionalities.
What is the Average Cost of IT Asset Management Software?
The average costs of IT asset management software depend on factors such as features, deployment, training support, vendor quality, customization required, number of admins and users, the scale of IT devices and resources to be monitored, and many more.
These variations alter cost estimations for ITAM software.
ITAM software such as Atera will cost $79 per user per month for its Pro Plan, $119 per user per month for the Growth Plan, and $149 per user per month for the Power Plan. EzOfficeInventory software has pricing based on the number of devices you need to manage. Its plans start from $35 per month for 250 devices. The cost increases with additional devices. For 500 devices, you need to pay $49.70.
If you are looking for free IT asset management software, check out the free versions of Reftab, Spiceworks, ManageEngine AssetExplorer, xAssets ITAM, itemit, Belmanage, Open-AudIT, CMDBuild. If you need free and open source IT asset management software, then go for SNIPE-IT or GLPI. For other ITAM solutions such as Teqtivity, Lansweeper, Remedy Asset Management, and many others, you need to contact the software vendor for detailed pricing information. Get the updated list of ITAM software solutions from the product section.
Why Refer to GoodFirm’s List of IT Asset Management Software?
GoodFirms has been empowering businesses by providing them actionable insights to make the best IT investments. Currently, GoodFirms houses a massive list of 60000+ software products and services. GoodFirms has also collected 30000+ reviews of these services and products from genuine users. With GoodFirms' highest quality research, B2B software seekers can make a flawless decision to select the best ITAM software for their business. Keeping the needs of small, medium, and large scale organizations in mind, and after making an in-depth analysis of the features, utility, benefits, costs, and many more aspects relevant to ITAM software, this list includes only the best IT asset management software available in the market.