Explore the top Fixed Asset Software with features and comparison to select among the best ones in the industry:
An asset is something that you own, which has some value in economic terms. An asset can be converted into cash when needed.
Fixed assets are those that are owned for longer periods. For example, property, vehicles, heavy manufacturing equipment, etc. Fixed assets act as the facilitators of the production process. Without fixed assets like machinery or land, a company can not produce final products.
Thus, a company owns several assets to run the production process. These assets need to be monitored regularly, to keep the production process running smoothly.
Table of Contents:
Fixed Asset Software Review
By monitoring the fixed assets, we mean:
- Calculating the current as well as the future value of the assets.
- Tracking their performance to calculate their uptime.
- Keeping track of the date of purchase, insurance, expiry date, etc.
- Prior notification of any required maintenance, to increase the life span of the assets.
- Keeping a certain stock of the parts of the assets (machinery, equipment, etc.), to avoid any hindrances in the production process, if any part somehow gets damaged.
- Analyzing the data of the history of the assets to help you in decision making.
Fixed asset software helps in monitoring the fixed assets, thus saving much of your valuable time and costs of operation by keeping your assets optimized.
In this article, we will give you a list of the best Fixed Asset Software along with their comparison and detailed reviews, so that you can choose the one that suits your requirements.
Pro Tip: While buying a Fixed Asset Software, you should always look for the one which is easy to use. Otherwise, instead of saving your time, it will become a headache to run it and incur expenses. The software made for large enterprises is usually complex due to plenty of features loaded in them. Plus, it requires expert skills to operate. A small business should not go for such software.
List of the Top Fixed Asset Software
Here is the list of popular and best asset management tools:
- AssetWorks
- Fishbowl
- ManageEngine AssetExplorer
- Katana
- Sage Fixed Assets
- UpKeep
- IBM Maximo
- EZ OfficeInventory
- AssetCloud
- AsseTrack FAMS
- Cheqroom
- Asset Panda
- Ivanti
- Infor EAM
- Nektar Data
- InvGate Assets
Comparing Top Fixed Asset Management Software
| Tool Name | Best for | Price | Free Trial | Rating |
|---|---|---|---|---|
| AssetWorks | Scalable asset management solutions | Contact directly for a price quote | Not available | 5/5 stars |
| Fishbowl | Advanced solutions at affordable prices | Contact directly for a price quote | Available | 5/5 stars |
| ManageEngine AssetExplorer | Easy and efficient asset management | Starts at $795 (One time purchase) | Available | 4.7/5 stars |
| Katana | Real-time inventory management | Starts at $179/month (billed annually) | Free demo available | 4.5/5 stars |
| Sage Fixed Assets | Being a complete asset management system | Contact directly for pricing details. | Not available | 4.5/5 stars |
| UpKeep | Mobile asset management tool | Starts at $45 per month | Available | 4.5/5 stars |
Detailed reviews of fixed asset inventory software:
#1) AssetWorks
Best for scalable asset management solutions.
AssetWorks is a fixed asset accounting software, which gives you reliable fixed asset solutions, including maintaining accurate records, preparing reports, mobile inventory solutions, and much more.
Features:
- Mobile inventory solutions let you download and view your fixed asset inventory, add new assets, etc.
- Track one facility or multiple distribution centers.
- Functions that support pre-election, election day, and post-election processes.
- Multiple ways of calculating depreciation.
Verdict: AssetWorks is one of the best-fixed asset inventory software in the industry. It is highly recommended by its users. The software can be the most suitable solution for a large-scale asset management requirement.
Price: Contact directly for a price quote.
#2) Fishbowl
Best for advanced solutions at affordable prices.
Fishbowl is a fixed asset inventory software, which brings up for you solutions including calculating inventory needs, automatic reordering of products to avoid stock-outs, and integration with eCommerce platforms.
Features:
- Tracks expiration dates and auto reorders materials.
- Calculates depreciation and the life cycle of your assets.
- Makes reports for you to take necessary actions on time and maintain the condition of your assets.
- Integrates with QuickBooks and Xero.
- Provides solutions for your business, including tracking assets, inventories, orders, and much more.
Verdict: The customer service is reported to be nice. The reviews by its users portray a positive image of Fishbowl. The software is recommendable for businesses of any size.
Price: There is a free trial for 14 days. Contact directly for pricing details.
#3) ManageEngine AssetExplorer
Best for easy and efficient asset management.
ManageEngine AssetExplorer is a web-based fixed asset software built for large enterprises, which lets you know the total cost of ownership of an asset, manages your assets (hardware and software), manages asset life cycle by accurately calculating the depreciation, and much more.
Features:
- Scans your software, hardware, and other ownership information.
- Supports all types of licenses and keeps track of license expiry.
- Keeps track of licenses purchased, analyses software usage patterns so that you spend on the ones you require only.
- Manages asset life cycle by keeping you informed about when to purchase, calculates the total cost of ownership of an asset.
Verdict: ManageEngine AssetExplorer is one of the top fixed asset management software, which is loaded with all the features required for asset management and provides ease of use to the users.
Price: Pricing for 250 to 10000 IT assets ranges from $955 to $11,995.
#4) Katana
Best for real-time inventory management.
Katana is a cloud-based solution designed to help manufacturers, retailers, wholesalers, and distributors keep track of their stock. The software can help these entities get real-time insight into their raw material and finished products across multiple locations. You can rely on your software to plan your asset inventory with data-driven forecasting.
Features:
- Get real-time insights into all your assets.
- End-to-end traceability of batch number, serial numbers, and expiration date of your assets.
- Issue purchase orders for supplies and materials
- Integrates with accounting, reporting, CRM, and e-commerce apps.
Verdict: Katana is an ideal software for businesses who wish to get greater visibility and control over their asset inventory across multiple locations. The software is easy to set up, boasts impressive automation, and succeeds in centralizing various key elements crucial for the streamlined management of assets.
Price: Katana offers the following subscription plans:
- Starter: $179/month
- Standard: $359/month
- Professional: $799/month
- Professional Plus: $1799/month
A free demo is available upon request. All plans are billed annually.
#5) Sage Fixed Assets
Best for being a complete asset management system.
Sage Fixed Assets is an automated fixed asset management software. With Sage, you can have a real-time view of your assets, calculate project costs, tax depreciation, and much more.
Features:
- Tracks and reports asset information, including condition, insurance status, and maintenance logs.
- Cloud backups and disaster recovery feature to keep your data secure.
- Maintain separate tax and accounting books for your fixed assets and let the software automatically record depreciation.
- Reporting features that let you know how costs are distributed by location, project, etc.
Verdict: Sage Fixed Assets software is being appreciated by its users for being user-friendly and giving accurate depreciation values. Some users state that the reporting feature is time-consuming and the learning curve is steep.
Price: Contact directly for a price quote.
#6) UpKeep
Best for a mobile asset management tool.
UpKeep is a fixed asset software that increases your assets’ uptime by keeping you updated about the assets’ life cycle, history, and other information through your mobile or desktop.
Features:
- Keeps you updated about your assets’ history and other information to make the right decisions on time.
- Advanced asset analytics tools help you increase the life cycle of the assets.
- Notifies you about when and how much quantity of parts of your assets to order.
- Advanced analytics features, which track equipment downtime costs over time.
Verdict: UpKeep is a free asset management software. You can avail of the paid plans too if you require more features.
The free version can prove extremely beneficial for small businesses. The users of UpKeep have given decent ratings to the software.
Price: There is a free plan and a free trial for 7 days. Price plans start at $45 per month.
#7) IBM Maximo
Best for artificial intelligence enabling monitoring of the assets.
IBM Maximo is an AI-powered, cloud-based fixed asset accounting software, which monitors your assets, predicts maintenance, increases their uptime, helps you expand the life cycle of your assets, and much more.
Features:
- Artificial intelligence-powered monitoring of assets.
- Data analytics features help in predictive maintenance.
- Intelligent mobile EAM feature tracks asset history and operational data.
- Monitoring the operations across your enterprise through a single dashboard.
Verdict: IBM Maximo is reportedly expensive, as compared to its alternatives. Plus, the software is not very easy to use. It can be recommended for large enterprises only.
Price: Contact directly for pricing details.
#8) EZ OfficeInventory
Best for being an easy-to-use software for small businesses.
EZ OfficeInventory tracks the location, depreciation, and maintenance status of your fixed assets, lets you scan barcodes on assets with the iOS and Android applications provided by the software.
Features:
- Notifies you about warranties, insurance, and more.
- Manages your inventories across different locations.
- Schedules routine maintenance for your equipment to ensure top functionality.
- Manages the life cycle of your fixed assets.
Verdict: EZ OfficeInventory is a fixed asset accounting software for small businesses. The best quality of this software is the ease of use that it offers to its users, at affordable prices.
Price: There is a 15-day free trial. Prices start at $35 per month.
#9) AssetCloud
Best for being an all-in-one solution for asset management.
AssetCloud is a fixed assets tracking system, which has an easy-to-use interface, provides you with data customized to uplift your production process, and tracks your assets, tools, and equipment so that you can make the right decisions on time.
Features:
- Manages the full life cycle of your assets and gives you necessary information about your assets.
- Tracks availability of necessary equipment and also lets you know about unused or lost equipment.
- You can track multi-use assets across your organization, with barcodes.
- The tool tracking feature makes sure you never get out of stock for any necessary tool.
Verdict: AssetCloud has got some nice reviews from most of its users. Some of them have faced issues with customer service. Overall, the software is recommendable.
Price: Contact directly for a price quote.
#10) AsseTrack FAMS
Best for tracking the current status of each asset.
AsseTrack FAMS is a web-based fixed asset accounting software, which tracks and records all your fixed assets and prepares dynamic reports for you so that you can take the crucial action on time.
Features:
- Keeps a record of all the information about your assets, which can be accessed anytime.
- Highly secure data centers, keep your data secure and perform time to time backups.
- Lets you add unlimited locations, buildings, etc., into the system.
- Tracks your assets and speeds up auditing.
Verdict: Trusted by some big companies like Boeing, AsseTrack FAMS is reported to be user-friendly and efficient in monitoring assets.
Price: Contact directly for a price quote.
#11) Cheqroom
Best for easy equipment management tools.
Cheqroom is a fixed asset inventory software, which tracks all of your valuable assets and is trusted by big names like Google, Harvard University, Netflix, and many more.
Features:
- Tracks your assets to prevent thefts and damages.
- The Cheqroom application lets you organize your assets in such a way that you can instantly check which asset is available.
- The mobile application lets you scan the labels on your assets, to avoid errors.
- Prepares reports containing data about asset usage, depreciation and warranty.
Verdict: Some of the users of Cheqroom have reported some issues with the mobile application. Overall the software is easy to use and recommendable.
Price: There is a free trial for 15 days. Prices start at $100 per month.
#12) Asset Panda
Best for providing you one place to view all information about your assets.
Asset Panda is a fixed asset tracking software that provides you insights into data about your assets, lets you customize asset fields so that different users can have different levels of access, based on their role in your company.
Features:
- A mobile application that lets you track your assets from anywhere.
- An in-built barcode scanner.
- Tracks full life cycle of your assets.
- Forecasting tools for every asset.
Verdict: Asset Panda is an affordable fixed asset management software that is highly recommended for small businesses.
Price: Starts at $125 per month.
#13) Ivanti
Best for life cycle management of your fixed assets
Ivanti offers you a feature to track your fixed assets. You can track the full life cycle of your assets, optimize their performance and get all the information about your assets with Ivanti.
Features:
- Tracks your hardware, software, server, or cloud assets.
- Improve efficiency and reduce downtime through information about your assets.
- Manages the full life cycle of your assets.
- A catalog that shows your current stock levels, active orders, etc.
- Barcode scanning and a mobile application that lets you work from anywhere.
Verdict: The product can be complex to use for small to medium-sized businesses. The customer service is reported to be nice, though. The product offers a wide range of features and can be recommended for large enterprises.
Price: Contact directly for a price quote.
#14) Infor EAM
Best for wide visibility into your assets.
Infor EAM provides asset management solutions ranging from tracking the performance of assets and ensuring better spending decisions to a mobile application for easy access to all the information regarding your assets.
Features:
- 24/7 mobile access.
- Data-driven reports to help you in decision making.
- 2D and 3D visualization of your data.
- Keeps track of the performance of your assets to make more informed decisions.
Verdict: According to some users of Infor EAM, it is a user-friendly fixed asset software that provides business-specific solutions. The software is highly recommendable for any sized business.
Price: Contact directly for a price quote.
#15) Nektar Data
Best for tracking all the information about your assets.
Nektar Data manages your assets, inventories, and equipment to make sure that your production process is optimized, assets’ uptime is increased and your time is saved from manually keeping track of your assets’ data.
Features:
- Tracks and monitors your assets, inventories, and equipment.
- Manages the life cycle of your assets by calculating their current and future values.
- Tells you when maintenance is required.
- Keeps track of inventories or parts to be reordered on time and in just the required quantity.
Verdict: Nektar Data can be recommended for any sized business. The customer service is impressive. Some users have this distress that the software can not be used without an Internet connection.
Price: Contact directly for a price quote.
#16) InvGate Assets
Best for giving you full visibility and control of your IT assets.
InvGate Assets let you monitor and control your IT assets by maintaining a record of each information about the assets and offering you insights into any configuration changes being made into your IT infrastructure.
Features:
- Maintains a record of changes in every device.
- Manages risks by giving you data insights and helping you in decision-making.
- Remote desktop capabilities simplify the processes of software updates, incidence management, uninstallation, etc
- Keeps track of the value, expiry, and allocation of your software licenses.
Verdict: Some of the users of InvGate Assets have reported that the software is easy to use, brings up powerful reports, and has nice customer service. It is highly recommended for medium to large enterprises.
Price: There is a free trial for 30 days. Contact directly for a price quote.
Frequently Asked Questions
Is Calculator a fixed asset?
A calculator is considered as an expense and not a fixed asset, maybe due to its low monetary value.
Is a car a depreciating asset?
Yes, a car is a depreciating asset because it loses its value as much as it is used.
What is the fixed asset management system?
It is a service that manages your fixed assets by providing you with the following main features:
– Tracks information about your assets, including date of purchase, insurance information, condition, and maintenance logs.
– Maintains the life cycle of your assets by calculating their present and future value and tracking their performance.
– Mobile application to access all the information instantly, from anywhere.
– Barcode allotment and scanning.
– Tracking inventories to ensure that you never go out of stock and the production process runs smoothly.
– Makes reports for you to make better decisions.
– Eases up the tasks of asset management and saves your time.
What is the best asset management software?
The best ones include AssetWorks, Fishbowl, ManageEngine AssetExplorer, UpKeep, InvGate Assets, Asset Panda and Infor EAM.
What is the formula for depreciation?
Depreciation means a reduction in the value of an asset over time.
To calculate depreciation, the following formulas can be used:
[image source]
Conclusion
In the light of our study on Fixed Asset Software, we can now conclude that a fixed asset inventory software can save much of employees’ time by doing the asset tracking tasks, informing about required maintenance, calculating the present and future value of your assets, and by providing many more beneficial features.
Also Read=>> Free Digital Asset Management Software Tools
Based on our detailed reviews about the top best-fixed asset management software, we can now say that the overall best software in the industry are AssetWorks, Fishbowl, ManageEngine AssetExplorer, UpKeep, InvGate Assets, Asset Panda, Sage Fixed Assets, and Infor EAM.
Research Process:
- Time taken to research this article: We spent 15 hours researching and writing this article so you can get a useful summarized list of tools with the comparison of each for your quick review.
- Total tools researched online: 25
- Top tools shortlisted for review: 15