Best IT asset management tool of 2023

Information technology (IT) is an integral part of every modern business. Virtually all businesses in this modern era must use hardware and software tools at some point. Large companies often have teams dedicated to IT use and management.

IT is a broad term that refers to using computers to process, store, and exchange data and information. It covers everything from the computers employees use to the servers hosting a company’s website to the software tools employees use to process and share documents. Managing all these assets can be difficult, especially for large businesses. That’s why we have dedicated IT asset management tools to make the job easier.

IT asset management deals with managing an organization’s IT assets. It is a process that ensures every IT asset is accounted for, maintained, and upgraded when due. This task might seem trivial but note that it’s easy to lose track of hardware and software assets in a large organization. IT asset management tools prevent this from happening.

There are many IT asset management tools, and it can be difficult to choose a suitable one. We tested different such tools to identify the best ones. We narrowed our list based on important factors including customer support, pricing, performance, ease of use, etc.

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The best IT asset management tool in full:

Best for customer service

Asset Panda is a popular asset management software for enterprises. It includes a tool that enables organizations to keep track of their hardware and software assets meticulously.

Asset Panda gives you a unified Knowledge Base to manage your IT assets. You can compile all your asset tracking into this central knowledge hub. You can create internal documentation for all IT assets so that your staff can consult it when they run into any issues. Extensive documentation cuts down the time that IT teams spend responding to internal tickets.

Asset Panda gives you a real-time view of your IT assets. You can identify and eliminate assets that are redundant or not being utilized appropriately. You can also easily identify any rogue devices connected to your network.

Your IT team can speed up their workflow with Asset Panda. They can track repairs and updates and conduct full equipment audits with little hassles. This platform has integrations with many third-party tools to add more functionality, e.g., ServiceNow, Microsoft Active Directory, and Google Workspace. The main drawback we observed is its cluttered interface that can be difficult to navigate. 

Best affordable option

ManageEngine is an IT management suite offered by Zoho, an Indian software company famous for making lower-priced alternatives to popular digital tools.

AssetExplorer is an IT management tool offered under ManageEngine. This tool lets organizations keep up-to-date information on all their IT assets. It provides a real-time view of every asset connected to the organization network; you can track any workstation or software and ensure they’re in good shape.

AssetExplorer lets you stay on top of your software licenses. It gives you automated alerts whenever a license is expiring and needs an upgrade or renewal. It enables IT teams to ensure that every staff is using the compliant software and not the wrong ones. This platform can manage all stages of an IT tool from procurement to disposal.

Zoho offers a free AssetExplorer plan that lets you manage up to 25 assets. You’ll need to pay a one-time licensing fee for anything above 25 assets; it starts from, $955 for 250 assets to $11,995 for 10,000 assets. Annual support and maintenance fees may apply. 

Best for automation

SysAid is another popular IT asset management tool. It enables users to monitor, secure, and manage all their IT assets from a single dashboard.

This platform has automated discovery, so you can identify every hardware or software connected to your enterprise network in real time. It gives you a full picture of the hardware and software components and how they’re connected to each other. You can manage all your software licenses from one dashboard and even automate license and support renewals.

SysAid allows you to control IT assets remotely. For instance, you can deploy software patches to all workstations connected to your network if you notice a bug. You can get real-time, custom alerts for all workstations, e.g., when they need an operating system update or when a workstation’s performance is lagging.

SysAid doesn’t have standard pricing. You’ll need to contact the sales team for a quote, and the pricing depends on the features you select and your custom IT infrastructure.  SysAid is famous for having an intuitive interface, although it’s complex to set up and integrate with your technical infrastructure initially. 

Best for large organizations

Flexera is an advanced IT management solution offering a lot of useful features. It allows users to proactively manage their IT assets and ensure that every digital resource is working as needed. 

Flexera is a significantly expensive tool, but you’ll need to sign a contract before using it. The high cost makes it ideal for large organizations with equally large IT budgets.

This platform is worth its price for the organizations that can afford it. It gives users detailed information about their IT spending and enables them to identify where to save costs while maintaining optimal performance. For instance, you can identify any underutilized account and software license and ensure they become fully utilized. You can monitor every suspicious activity on your network and eliminate them before they cause trouble.

Flexera lets you manage all your hardware assets effectively by connecting with external vendors, procurement systems, inventory tools, etc. You can get alerts about important information such as warranties, lease termination, and end-of-life support. You can detect any faulty hardware and fix it before it morphs into more problems. 

The features Flexera offers are second to none. The pricing depends on your custom technical infrastructure, and you'll have to contact the sales team to negotiate a deal. 

Best for modeling

BMC Helix Discovery is a well-known IT asset management tool for enterprises. It allows you to manage all your organization’s hardware and software assets effectively. This tool is famous for its dependency modeling system; it gives you full visibility into the assets and how each one depends on another for your organization to function. This way, you can easily identify if any asset has issues and fix them.

BMC Helix works well with cloud computing services such as Amazon Web Services (AWS) and Google Cloud. You can integrate it with your cloud provider and track all your cloud instances. This tool helps you detect blind spots and any potential security flaws in your IT assets.

BMC Helix is pretty complex to set up. It’s a relatively expensive tool, which makes it suitable for medium-sized or large enterprises.

FAQs

How to choose an IT asset management tool 

Cost

Cost is the first thing to consider when choosing any software platform. You have to pick something you can afford in the long term, or risk future problems. IT asset management tools usually charge money based on how many devices are connected to an organization’s network and the custom technical infrastructure. You should estimate what you’ll need to pay beforehand. Read the fine print to see if there are any hidden costs, e.g., extra support fees, and take advantage of a free trial to test the features before making a payment.

Customer support

No software is perfect; you’ll likely run into bugs and glitches at some point that’ll require external help. Hence, you should choose an asset management tool with a good reputation for customer service. You should be able to contact a human support representative for help at any time. The tool should also have good documentation, manuals, and user guides to help users that run into issues.

Ease of use

Your IT asset management tool should have an interface that’s easy to use and navigate. Complex interfaces can frustrate users and cause potentially costly mistakes.

Essential features of an IT asset management tool 

Asset tracking/discovery

You should be able to discover and keep track of every hardware or software asset connected to your enterprise network. This feature enables you to account for every asset you paid for and be sure that it’s fulfilling its intended purpose. It prevents wasteful spending, and you can also detect any unauthorized assets intruding on your network.

A good asset management tool will let you track assets in real time and monitor every change.

Alerts and notifications

You should get alerts about the activities of IT assets connected to your network. For example, you can get automated alerts whenever a software license is about to expire. Similarly, you can get alerts when hardware needs maintenance, e.g., personal computers that need an operating system update.

Cloud-based

An ideal asset management tool should be cloud-based instead of on-premise. This way, the company doesn’t need to worry about updates, patches, and bug fixes; the vendor takes care of these activities. A cloud-based tool is easy to access; you just need an active internet connection and the correct login details, and you can access it securely.

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