7 Top Asset Management Software for Small Businesses

Top Asset Management Software for Small Businesses
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Asset management or asset lifecycle management is an essential part of the IT department of any company. Most companies nowadays prefer digital documentation over physical copies. Similarly, the increasing relevance of online connectivity in daily work has made it vital to ensure that the IT assets of your business, such as laptops, desktops, servers, software and other paraphernalia, are maintained with the utmost care.

 

Companies spend millions of dollars on purchasing and maintaining information technology assets every year. Hence, tracking their performance over time and ensuring that they are working to their full potential is paramount in supporting the employees to complete their tasks on time.

 

Tracking the assets also helps in less wear and tear of the hardware and lesser instances of a hardware breakdown. Similarly, it also reduces the risk posed by external cyberattacks. Hence, an IT and software asset management solution is essential for the proper functioning of any modern organization.

 

What is IT Asset Management (ITAM)?

IT Asset Management is a set of business practices that ensure that a company’s IT assets are purchased, deployed, maintained, kept up to date and correctly disposed of once they finish their life cycle.

 

IT Asset Management or ITAM helps manage the IT assets of the company by optimizing the expenditure, providing adequate support and strategizing ways to support the lifecycle management of these assets. ITAM is a part of the IT Service Management (ITSM) process.

 

Now that we have defined what ITAM is, let us clarify that the ‘IT asset’ could be any tangible items such as laptops, desktops, servers, routers, etc. or any intangible thing such as the IT protocols and software used to run the hardware.

 

Since IT assets have a limited lifespan, it is vital to ensure that the data stored in these devices are not lost. Additionally, being electronic devices, they are prone to failure. One should avoid any instances of breakdown as it impacts the company’s productivity.
 

Also Read: What is Compensation Management

 

What is the use of IT Asset Management Software?

Having a robust asset management system ensures the following benefits:

  • Manage compliance of the assets
  • Provide greater asset visibility
  • Increase in accountability
  • Quick redeployment
  • Maintain adequate SLA
  • Optimize budgets & expenditure
  • Ensure full utilization of assets.

 

An IT asset management software can be used to undertake all the tasks related to ITAM. It records and tracks any IT asset from its purchase to disposal. It provides all information about any IT asset, such as its real-time status, current location, user details, usage details, and wear and tear.

 

7 Top Asset Management Software for Small Businesses

Since ITAM plays such a vital role in ensuring the smooth functioning of modern organizations, it is crucial to get the perfect software for undertaking ITAM-related tasks. It should have a comprehensive set of features such as the ability to track real-time status, notify the IT department in case of any discrepancy in the system, be mobile-friendly to ensure remote management, integrate with other systems to ensure cohesive functioning and more.

 

The ITAM software is also tasked with maintaining procured hardware and software licenses. Additionally, it should have the option to audit the asset data that is tracked continuously. It should also enable MACD or move, add, change, and delete activities for the assets. Moreover, having cloud ITAM software ensures that you can access it from anywhere, anytime, using any device.

 

Keeping these pointers in mind, let us look at seven top asset management software for small businesses:

 

1. Pocket HRMS

Pocket HRMS is primarily a comprehensive AI-enabled HRMS with a robust ITAM module. Even though ITAM is simply a module, it is a comprehensive one in Pocket HRMS. You can define the asset type and provide all details of the IT asset, such as its model number, serial number, status, vendor name, purchase date, location, and more.

 

It also allows the user to upload images of the asset and provide an invoice to ensure that these details remain in the database. You will be able to maintain the asset inventory with all the data mentioned above and assign a specific asset to an employee using Pocket HRMS. You can also provide each asset’s check-in and check-out time to ensure that they are returned on time.

 

Moreover, the images and invoice ensure that the device’s condition can be tracked accurately. Furthermore, Pocket HRMS also provides the option to enter remarks against all assets that would help you keep track of your investment over time.

 

2. Asset Panda

Asset Panda is an asset management software that has all the features required for robust asset management, such as asset assignment, asset kitting, barcode generation for assets, check-out and returns tracking, compliance tracking, contract management, funding source tracking, maintenance tracking, service contract tracking, signature capture, software license tracking, ticketing, individual record attachments and more.

 

These features can also be accessed remotely since the Asset Panda software is hosted on the cloud. Hence, they have also developed handy mobile apps for both Android and iOS platforms to ensure 24/7 alerts, notifications, and real-time data. The software also has action-based forms, configurable asset audits, custom report generation, and easy to use data import functionality.

 

The Asset Panda team utilise Amazon AWS architecture with 256-bit SSL encryption to ensure that your data remains safe and secure while accessible to anyone with the right credentials.

 

3. Symphony Summit AI

Symphony Summit AI leverages the power of artificial intelligence to provide enterprise-class ITAM and ITSM services. It is a scalable solution suitable for any company, from a startup to a global enterprise.

 

They have several modules to undertake ITAM and ITSM related tasks such as asset tracking, audit management, availability management, automated routing, change management, configuration management, contract management, cost tracking, incident management, inventory management, knowledge base management, project management, real-time chat and many more.

 

Being an AI-based system, Summit AI can also predict future requirements based on the status of the IT assets, which helps in planning. It also includes an easy to use conversational interface. It leverages AI to understand the context of an issue and provide basic troubleshooting services for service requests. It also has easy deployment and mobile apps and is scalable to meet the requirements of different kinds of companies.
 

Also Read: What is RnR? Full Form and Benefits

 

4. JIRA Service Management

Jira Service Management is a complete ITSM solution and ITAM software. It offers the same essential functionalities of an ITAM software that we have already discussed above. It utilizes Jira’s open-end collaborative platform for streamlining the workflows, providing automation, and ensuring SLAs are met.

 

It also has a self-service portal that empowers the users, IT, and operations teams with conversational interactivity, thereby breaking down silos. Jira Service Management has both deployment options, on-premise and on the cloud.

 

They have also developed dedicated applications for using their software on Windows, Mac OS, Linux, Android, and iOS operating systems. Apart from real-time monitoring and real-time reporting, software also provides third-party integrations to ensure a seamless experience with software you are already using.

 

5. ManageEngine ServiceDesk Plus

ManageEngine ServiceDesk Plus is primarily a help desk with Asset Management features built into it. They have multiple features required by ITAM software, such as incident management, problem management, change management, IT project management, report generation, integration, asset management, and more, to ensure seamless asset tracking and management.

 

They also provide an intuitive self-service portal for the employees to raise tickets and track their progress. You can also allow live chat support, provide access to a knowledge base, use custom domains, enable the chat platform, and utilize the native mobile apps to ensure a seamless experience.

 

The software also can assign technicians automatically, send alerts, track SLAs and archive the database periodically to ensure smooth performance over a long period.

 

6. Sapphire IMS

Sapphire IMS is a comprehensive ITAM solution that utilizes the latest technologies for enhanced functionalities. It is integrated with AI and NLP to improve the user experience. It also leverages the power of RTLS and IoT to provide advanced asset tracking that includes barcodes, QR codes and RFID implementations to enable remote IT asset management.

 

They have both cloud and on-premise deployment methods. Hence, they have provided dedicated applications for Windows, Linux, Android and iOS platforms. They provide various modules required for IT asset management, such as asset tracking, software license management, audit management, compliance tracking, incident management, inventory management, knowledge base management, warranty tracking, remote access, SLA management, preventive maintenance, etc.

 

7. Hexnode UEM

Hexnode UEM is a cloud-based system that helps manage the various IT assets of a company effortlessly. Hexnode also leverages the easy accessibility of the cloud architecture to provide support to different kinds of operating systems such as Android, iOS, Windows, Mac OS, FireOS, Apple TVs, etc.

 

Such seamless access is possible thanks to the scalable features of the software. Being a cloud-based system, Hexcode has dedicated apps for Windows, Mac OS, Android and iOS platforms. Although their primary target is cloud-based deployment, they can also provide on-premise implementation if required.

 

They also support BYOD management as the software can support various operating systems. They also offer compliance management, deployment management, audit management, implementing browsing restrictions and many more features.

 

Conclusion

There are some great software available in the market for IT asset management. Choosing the ideal software for your organization depends on your organization, its size, number of users, designations, and various other factors.

 

The seven software that we have discussed in this article are some of the best in the industry. Hence, you can weigh the features of each software with your requirements and finalize the one that suits your budget.

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