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11 Min. Read

5 Best Asset Management Software

5 Best Asset Management Software

Asset management software for the modern age helps companies manage and track more assets than ever. And as mobile devices flood the workplace, complex technologies are necessary to keep up with the advancements.

The cost of underutilization, poor management, or misplaced physical assets can weaken a company’s bottom line. That’s why it’s so important to stay ahead of the curve with asset management software that works for your business.

You will have a clearer vision of your business goals and asset life cycles. And, you will gain a firm grasp on controlling your assets and putting them to their best use. We have compiled the best asset management software for your consideration. So read on to learn which is right for you and start shaping your business for the future.

Here’s What We’ll Cover:


ManageEngine AssetExplorer

Asset Panda

Ivanti IT Asset Management

InvGate Assets

Key Takeaways


Keeping track of your company’s assets is easy when you have FreshBooks. You can quickly find items that bring you revenue and manage them related to their expenses. With FreshBooks, you gain a clear picture of your profits and losses. Plus, you can easily calculate these figures with incredible accuracy.

FreshBooks delivers a wealth of powerful tools and resources. You will find everything you need to manage your assets, including:

  • Accountant access
  • Cost of goods sold
  • Chart of accounts
  • Accounts payable
  • General ledger
  • Journal entries
  • Balance sheet
  • Trial balance

You will be able to make the best decisions for your assets based on accurate data. There’s no more guessing or needing to come up with estimations. FreshBooks provides clear and precise figures about everything in your business with a cost associated with it.

You can even collaborate with your accountant via FreshBooks. Simply invite them to your FreshBooks account and give them access to your financials. And FreshBooks makes it so easy that only a few clicks are needed.

Your accountant will see your reporting in real-time. They can then provide you with further input regarding your company’s assets. This makes tax time exponentially easier, ensuring accurate and precise data in all of your business’s assets.

Another vital part of asset management is keeping track of your spending. With FreshBooks, you can expertly manage your payments. FreshBooks shows you which assets relate to:

  • Transfers 
  • Refunds
  • Equity

All this leads to simplified management. What’s more, FreshBooks presents these rich features via a user-friendly interface. Navigation is a breeze and ideal for both beginners and industry veterans. The simplicity of FreshBooks is only matched by its deceptive complexity.

FreshBooks is deep, with robust features and operations awaiting your discovery. Best of all, you get to choose how few or how many functions you use. The more you get acclimated with FreshBooks’ features, the more you will find available to you.

Need to create a summary report of your assets and finances? FreshBooks does that, too. And when you’re ready, you can export it to an Excel spreadsheet for even more management options.

Do you often struggle with balancing your company’s budget? You’re not alone, especially if your business was a victim of the pandemic and its effects on the economy. You can effectively get the edge you need with FreshBooks.

It’s easier than ever to stay on top of your monthly bills, as you can let FreshBooks manage your outgoing funds with the Accounts Payable feature. Coupled with FreshBooks’ ability to track payments with the Credit feature, you will be well on your way to optimal asset management.

Want to try FreshBooks for free? Be sure to read until the end to learn how you can sign up for a free trial. And if you choose to buy FreshBooks, you’ll get a sizable discount for six months!

ManageEngine AssetExplorer

ManageEngine AssetExplorer is a web-based software asset management solution. It contains various tools and functions that can handle the essential asset management aspects, such as:

  • Software license management
  • Inventory management
  • Compliance review

What’s more, ManageEngine AssetExplorer has mature technology, simple setup, and a reasonable price. This makes it one of the better asset management solutions available today.

If you aren’t familiar with asset management, the range of features found here can feel a bit complicated. As such, it may be best to start with the free 30-day trial. This will give you a chance to get a feel for ManageEngine AssetExplorer. You can determine whether it’s a good fit for your needs.

Users should be aware that there are a lot of drop-down menus and tabs to manage. Thus, the overall user experience can be daunting. But ManageEngine AssetExplorer includes an excellent quick link function. This handy feature assists you in focusing on the most important tasks you wish to complete.

Also welcoming is the user interface. Rather than present outdated navigation, the interface is clean and familiar. If you’re comfortable with Windows, chances are you will feel right at home with ManageEngine AssetExplorer.

Please note that because there are so many options, adding equipment can be daunting, as well. At least the Windows agent simplifies configuration when installing on a new device.

Users will surely appreciate the reporting function. From pre-built reports to exporting reports in multiple formats, you have a good amount of control over your assets. Customize reports, schedule email and reports, and more. There’s plenty to do here as you work toward managing your assets.

The biggest downside, though, is that ManageEngine AssetExplorer is completely web-based. You lose a lot of the versatility found in more advanced options like FreshBooks. But if you can get past the somewhat clunky interface and the limitations as a whole, this is one platform worth checking out.

Asset Panda

Asset Panda is a cloud-based asset management system suitable for enterprises of any type or size. Although it might feel like a limited solution, Asset Panda offers more than meets the eye. You get advanced features such as custom reports and unlimited users.

What’s more, you can configure Asset Panda to meet the unique needs of your business. In fact, Asset Panda is a complete package, making it easy to track and manage your assets. Managers will appreciate the inventory management tool. It combines asset and inventory management into a single platform.

You have the ability to manage assets via multiple locations and as you move between locations. You can even customize the asset management workflow as you manage your inventory and assets. Asset Panda also lets you use serial numbers or UPCs for workflow tracking.

Want to add documents, photos, or videos to your asset data files? Asset Panda makes it possible. You can use the built-in reports feature to access reliable report options. This allows further customization whenever you need it.

There’s also a mobile application that lets you scan barcodes and dynamically add software assets. And because it’s fully integrated with the web app, you get even more flexibility in your asset management. But that’s not all.

The application can generate essential reports. It also has GPS tracking and mobile auditing functions. As far as mobile applications go, this is an unusual feature. Although there are many tools featured here, there are some downsides.

What most users will likely deem the primary issue with Asset Panda are its vast customizable options. There’s a lot here that you can adjust, with expansive settings. While this is certainly a bonus, it lends itself to complexity that requires a huge learning curve to master.

As such, it’s going to take you some time to get the hang of Asset Panda, especially if you aren’t familiar with it. There is a web portal that offers training and intel. But you’re going to need your own IT support to get you through a majority of the optimizations.

Ivanti IT Asset Management

There are many reasons to like Ivanti’s Asset Management program. It’s loaded with features, and it works well in tracking assets. But for companies that wish to highlight their key data components, the most prominent is its reporting function. Ivanti IT Asset Management has a large number of available pre-created reports. 

You also have the chance to create more queries. Ivanti provides everything companies need to efficiently manage and accurately track asset life cycles. This includes:

  • Financial management
  • License management
  • Software compliance
  • Asset discovery

Moreover, Ivanti uses an interface that is reminiscent of Windows. Therefore, Windows users will want to give this one a look. The built-in wizard uses a simple set of commands to get your network started with an initial scan. There, it will look for assets and provide steps to learn the proper configuration and management. After this scan, you may install the agent on these computers.

While Ivanti can take advantage of both desktop and mobile workspaces, there are also cloud-based services. This means more complex installation and minimal hardware requirements.

On-site installation management benefits from faster asset discovery response time and report generating. As mentioned earlier, even after operating the query to view more data, the report will quickly return information.

Like other AMS options, Ivanti’s pricing is determined by how many nodes need to be supported. Moreover, Ivanti only counts how many agents are installed.

The various network devices that cannot be installed with agents aren’t included in the asset count for determining price. Ivanti has a free trial of its software asset management solution.

But the trial software has to be installed on your local server. So you must first ensure your machine meets the hardware requirements. You will therefore want to check with your IT department first to ensure that you can use Ivanti.

InvGate Assets

This entry delivers all the basic hardware and software foundations for tracking inventory and assets. Installation is a breeze, and the interface is, too. As such, InvGate is a good fit for businesses that are small to medium in size.

Moreover, InvGate Assets lets companies track assets in various ways, such as:

  • Network discovery tool
  • Software deployment
  • Change management
  • License management
  • Advanced reporting
  • Software metering
  • Remote desktop

What’s more, InvGate reduces the need for steep learning by offering a simple, easy-to-understand user interface. The navigation to get your reports is as easy as doing a search and exporting it to Excel.

The alarm system is also a cinch to configure. With it, you can quickly notify users if there are any asset issues. A straightforward method introduces assets into your system, installing an agent on any device you want to be tracked. Windows and macOS are both supported, which is to be expected. But there’s even support for Linux, which is sure to make many users happy.

Like other software asset management solutions, pricing depends on how many nodes are supported. Nodes are calculated only when the agent is installed for the app. Access points like IP phones, routers, printers, and fax machines are not included among the number of nodes.

There are three plans to choose from, including:

  • Insight
  • Service Desk
  • Assets

But if you want pricing, you’ll have to request a quote directly from the company. InvGate is a good fit for small businesses that have minimal IT support. So if you could use the additional help, this is one program worth looking into.

Key Takeaways

Finding the right software asset management solution for your business is critical. It’s important to choose one that you’re comfortable with, so be sure to try out any free trials offered. This will give you a chance to get a feel for the various AMS options.

Some are more complex than others, but some also offer more features. You will need to choose the program that delivers a good balance of features and usability. With FreshBooks, you get a feature-rich app made for accessibility.

If you’d like to try FreshBooks, just click here to get started and enjoy a free trial on us. And if you buy FreshBooks today, you will get a discount of 60% for six months. In the meantime, we encourage you to visit our Resource Hub for more small business insights and tips.