Top asset management software tools
Organizations in any industry, from manufacturing and construction to healthcare, can optimize the value of each of their assets through asset management. To do so, they need to operate and maintain an asset properly from its creation or purchase to its ultimate retirement or disposal.
However, many organizations have hundreds or thousands of individual assets — whether that means manufacturing equipment, employee laptops, medical supplies, or whatever a business owns — and manually tracking each one is impossible. This is where asset management tools and software come in. Here are six of the top options for effectively managing your assets.
Infor EAM helps organizations make better capital spending decisions by providing detailed insight into their assets. This asset management software has helpful features such as work order management, materials management, inspection management, and budget management.
With Infor EAM, you can standardize asset identity, review maintenance history, look up asset locations, analyze asset performance, and review asset depreciation. Plus, Infor EAM can integrate with other tools for a streamlined user experience.
IFS EAM is an asset lifecycle management software that uses the latest technology — like digital twin technology, machine learning, and augmented reality — to help organizations oversee the entire lifecycle of each asset from the time they commission it to when they retire it.
The software enables you to store and use original purchase information for each asset as well as the warranty information, spare parts, and predictive maintenance plans. Features include fleet management, asset management, project management, and repair and maintenance management. IFS EAM aims to help your company boost equipment uptime and improve your decision making.
Asset Panda is an asset management software that’s intuitive and easy to use, and it adapts to the way individual businesses work. Businesses of any size and from any industry can easily configure this software to meet their unique asset management requirements.
Features include inventory management, asset tracking, customized workflows, and more. You can attach photos, videos, documents, and asset data files to each asset for more robust reporting capabilities.
Asset Panda also has a mobile app that can scan asset barcodes and update asset data systemwide in real time. The company offers free training for its users and provides a web portal and an online knowledge base for support.
GoCodes is ideal for organizations that need to track the physical location of assets that move frequently, like tools or other equipment. It’s a tracking solution that uses QR code tags and a custom scanning app for mobile devices. You can store and access details such as asset type, serial number, and a multitude of user-defined fields.
GoCodes offers a map feature so asset managers can see where each asset is located. It also has prebuilt depreciation reports to help you understand the present and future value of your assets.
Freshservice is an asset management software for IT that’s easy to set up and start using. The solution has a fast time-to-value and a significant return on investment according to a Forrester Research study — 308 percent, in fact.
Its features help you streamline workflows, track assets, manage asset lifecycles, check inventory levels, and create insightful reports. Enterprise and small to medium business (SMB) versions of the software are available, and a variety of industries, such as healthcare, education, and financial services, can implement it.
Saxo Group Portfolio Management is a fully integrated portfolio management and reporting solution used by wealth managers, asset managers, financial advisors, banks, and the fintech industry. It offers the ability to trade and manage portfolios from one intuitive user interface. It has multiple risk management features to ensure compliance, in addition to advanced reporting tools for clear visibility into portfolio performance.
Asset management software can help organizations streamline their asset management processes and more effectively maximize the value of each of their assets. Be sure to consider your specific industry, your particular type of assets, and the goals you want to achieve when selecting the right tool for your organization.