Are you looking for a solution to deter theft, conduct prevent maintenance, and handle financial accounting of your fixed assets? There are plenty of fixed asset management tools available today. Hence, we compiled the leading products to streamline your search.
Regardless of your company’s size, asset tracking is important. A manual method is not sufficient for this process as it will require a higher level of staff for completion and it will leave your data susceptible to poor quality and inaccuracy.
Furthermore, it is time-consuming. According to a survey by Bloomberg BNA, 46.8% of respondents from US-based finance executives revealed they spend an average of one week per month on conducting fixed assets accounting on manual spreadsheets and database management. This takes up their time away from other crucial processes such as strategic planning and analysis.
The issue with manual asset management doesn’t stop there. According to AssetPanda via Infographic Journal, 65% of fixed asset data is inaccurate, incomplete, or missing. To help mitigate this issue, a fixed asset tracking software is used by businesses to keep track of their valuable and fixed assets in a streamlined, accurate method. It ensures organizations are aware of what they own, where their assets are located, and who are using these assets. You may check out this top 10 fixed asset accounting software solutions for some examples (it should be noted that fixed asset tracking or accounting is just one component of the bigger system, fixed asset management, which we are presenting here).
Having visibility over your assets minimize employee theft—a common scenario in most workplaces where 79% of employees are found to steal from their employer at least once. It also removes ghost assets—items that are lost, stolen, or unused that remains listed as an active fixed asset—so that you aren’t charged for them. Additionally, fixed asset management tools automate the process that let you save an average of 69 days from the manual method.
With these benefits in mind, let’s go over the 20 best fixed asset management software solutions you should check out for your organization. These are the products that made it to the list because of their robust features and functionalities.
First on the list of top 20 fixed asset management software is Sage FAS. It is a solution designed to track, manage, and monitor the entire lifecycle of your fixed assets even before they become fixed assets. This system comes in various solutions to cover each crucial aspect due to its complexity. While it is complex, the software is built to simplify the processes involved in your fixed asset management.
When it comes to planning, it offers detail tracking in multiple levels and 45-user-defined fields. Additionally, you get your hands on built-in reports of actual versus budget variance and project status. Meanwhile, you can also prepare for year-end financials, cost allocation, and depreciation calculation by staying on top of your fixed asset’s complete lifecycle from acquisition to disposal.
Importantly, tracking of fixed assets through inventories is crucial to avoid having lost or stolen assets and tax overpayments. To do so, the product provides you with easy-to-use “wizards” to guide you in the inventory process.
Why choose Sage FAS?
ProSeries Fixed Asset Manager is a tool used by professional accounting firms to automatically calculate the clients’ depreciation and track assets. Users can get it as a standalone software or as an add-on solution to ProSeries Professional.
This package includes features such as client property tax return reports, various MACRS (Modified Accelerated Cost Recovery System) depreciation methods, tracking of asset purchases and sales throughout the year, and book and tax depreciation in separate values.
The interface of this system is intuitive, customizable, and compatible with a variety of third-party applications. This enables you to seamlessly import asset data in any format such as a CSV file, ASCII file, or as a Microsoft Word and Excel file.
Why choose ProSeries Fixed Asset Manager?
IBM Maximo is an enterprise asset management solution designed to aid organizations in the management of its assets that include equipment, buildings, and vehicles among others. By utilizing the power of IoT (Internet of Things), you can get your hands on real-time visibility of data from people, sensors, and devices that directly communicate with the software.
Available in the cloud or on-premise, the system streamlines global operations involving procurement and contract management, monitors the health of assets, and maintains all asset types. Its industry-specific solutions also pave the way for key asset-intensive industries for an effective solution for your operations.
Why choose IBM Maximo?
Fixed Assets CS, a fixed asset management application, is built to provide an efficient, simple, and flexible platform to customize and organize your asset management. It has a focus on user-friendliness through its intuitive and graphical interface and easy-to-follow file folder format which effectively minimizes training time.
While it is available as a standalone system, you can maximize its features by integrating it with other CS Professional Suite applications. The tool is available as a cloud-based solution and as a desktop application to provide flexibility on how you want to deploy the system. It supports commonly-used depreciation methods such as ACRS, MACRS, Straight-Line, Units of Production, and Amortization, among others.
Why choose Fixed Assets CS?
Infor EAM is an enterprise asset management that connects asset performance with your company’s growth. It has a rich built-in functionality to support your business needs while also providing great flexibility for integration with other applications to leverage your processes.
With its industry-specific capabilities, the product is built to grow, scale and transform with you. Some of the industry types it caters to include transit, utilities, manufacturing, public sector, healthcare, chemicals and life sciences, and food and beverage, among others.
It is easily deployable in the cloud, on-premise or as a hybrid solution. The tool is also available on the go with its robust support for all operating systems, mobile devices, and screen sizes.
Why choose Infor EAM?
AssetCloud, a product by Wasp Barcode Technologies, is an asset management system built for organizations—SMBs and enterprises alike, education, and government facilities that need to track any type of asset. It is known as an easy-to-use solution that automates tracking of the fixed asset, leveraging check in and out processes, expediting auditing, and generating reports.
This tool can be used in a variety of asset tracking processes such as tracking IT asset, equipment, facility, tool, and funding, as well as mandate compliance for fixed assets. Furthermore, included in its offerings are necessary software, hardware, and asset tags needed for the application.
Why choose AssetCloud?
Asset Panda is suitable for users who are looking for a simple, secure, and customizable fixed asset management software and tracking platform for tracking and managing their assets. The solution is built for organizations of any size, type, and industry such as maintenance, education, healthcare, government, non-profits, and hotels, among others.
It optimizes various processes including auditing, facilities management, compliance, purchase order management, and equipment support ticketing. The system is also highly configurable so you can adjust it according to your business needs. Users can also access information whenever and wherever they need it as it works on any device both online and using its own mobile application.
Why choose Asset Panda?
EZOfficeInventory is a complete asset management platform for a comprehensive logging of assets from its entire lifecycle starting from procurement up to its retirement. Its features simplify the workflow and operations of equipment management so you can easily keep track of what’s needed by whom and when it’s due to be back. Items are tagged with barcodes, RFID, and QR codes that you can conveniently use in the product’s application.
Even if your teams and departments are spread out across locations, you can manage assets with Access Control. Insights generated from reports also give you increased efficiency and productivity by easily identifying bottlenecks and addressing them.
Why choose EZOfficeInventory?
360Facility is a facility and asset management solution designed to manage the maintenance of assets and properties, reduce costs, leverage the operational efficiency of facilities and real estate. It provides you with a complete and comprehensive view of crucial metrics and asset details in your organization like warranty, preventive, and reactive maintenance activities.
It directly connects data to your capital plan for Accruent’s real estate lifecycle solution. It is used by organizations to improve customer satisfaction by enabling tenants to submit and review requests.
It also simplifies collaboration on documents, like contracts and Certificates of Insurance, for easy tracking and association of documents to assets. Additionally, it has a mobile app that enables you to update records on the go such as work orders, labor lags, and images.
Why choose 360 Facility?
Cheqroom is built to simplify the inventory for equipment asset management on the web or on your phone. Through a properly organized inventory system, you can ensure you get access to the right asset at the right time. You’ll also have full control over it as you know who’s using what and when it’s due back.
Accurately tracking AV or IT assets prevent them from being damaged or disappearing. Since the system lives in the cloud, your inventory information is stored online which means it can be accessed using any device at any time. Its mobile app is robust with features from booking overview and calendar integration to mobile equipment check-outs and instant troubleshooting.
Why choose Cheqroom?
UpKeep is an asset management and modern maintenance platform suited for industries such as facilities management, manufacturing, hotel, fleet, oil and gas, warehousing, utilities, and restaurants, among others.
It has a mobile-first approach for the collaboration of work order maintenance teams. Available on both iOS and Android, you can easily use the system in any device you prefer.
The features of this product are packaged in various scalable plans to meet your business needs. Among its roster of features are unlimited work order, work order sharing, preventive maintenance, and locations, assets, and parts. It also offers barcode scanning, asset downtime reporting, and asset check-in and check-out for a complete overview of your assets.
Why choose UpKeep?
Asset Organizer Pro is an asset management platform for cataloging, managing, and tracking fixed assets of your organization. It is built to let you quickly access assets and inventory data virtually. It has a ready-to-use solution and intuitive interface so you can set up the system with ease. It is worth noting that the system is only available for Windows (10, 8, 7, XP, and Vista) users.
It has a complete asset database template that enables you to organize and maintain information of your assets. Additionally, it has databases for employees, manufacturers, and vendors. Maintenance log and staff are also available for tracking asset maintenance activities.
Why choose Asset Organizer Pro?
Asset-intensive businesses looking for a solution to improve their financial performance should consider PowerPlan Fixed Asset Suite. It is purpose-built to optimize ERP and EAM systems by tracking, managing, and optimizing fixed asset data throughout its entire lifecycle: from creation to retirement.
Automation is a strong feature of this product as it handles specialized accounting processes that involve tasks to lower operating costs and improve cash flow in the form of calculations, creations, and approvals. This product provides you with a solution through an entire suite or a single product, according to your preference, in notifying accounting teams and project managers about the creation of assets and closing of projects.
Why choose PowerPlan Fixed Asset Suite?
Tenna is built for companies that use physical assets to track them in an integrated platform. This includes construction, oil and gas, waste management, and heavy industries. The tool is easy to use and you can start immediately by uploading your asset inventory list in the program. You can start asset tracking by scanning tags including QR code inventory tracking tags, GPS asset trackers, and RFID tracking.
In a single asset tracking system, you get a complete visibility of your inventory in real time. This lets you ensure you avoid errors and missing records as well as keep track of all assets including the non-powered ones. It also helps leverage site accountability and deters theft.
Why choose Tenna?
The AgileAssets Software Platform is developed to cater to the entire lifecycle management of infrastructure assets. Equipped with advanced technologies and a broad selection of modules, this integrated and comprehensive solution offers a systematic process for managing infrastructure assets such as bridges, facilities, roads, fleets, telecom, ITS, and traffic signals and signs.
This means you can rely on this product from planning, budgeting, asset acquisition, maintenance, and regulatory compliance to replacement and disposal. Its user interface is responsive and browser-based making it compatible to any device, including iOS and Android with its touch-centric capability. It also has a robust reporting and analysis feature that turns insights into actionable work plans.
Why choose AgileAssets Software Platform?
Nektar Data Platform, a full-service data management platform, is developed for organizations with large amounts of assets in multiple, and even remote, areas that are looking for a solution to eliminate manual data entry and embrace a paperless environment. It specializes in having work orders, reports, and inspections stored in the cloud so you don’t have to worry about physically storing the files.
Assets are managed in a single, centralized platform which gives you complete visibility over them. It also accelerates workflows through features such as incident reporting, equipment tracking, budget tracking, job costing, and contract management. This solution is tailor-made to your needs to ensure it matches your requirements and workflows.
Why choose Nektar Data Platform?
BNA Fixed Assets Solutions is an asset management technology designed to handle fixed assets, leased assets, and depreciation. This solution is used to gain accuracy in managing large expenditures of your company, enhancing decision-making processes, and optimizing tax savings.
Through automation, you save time and control costs by working smarter with the tool’s built-in Bloomberg Tax expertise, GAAP accounting rules, and up-to-date tax code. You can also view reports on consolidated data across locations, companies, and divisions. It also offers a suite of additional modules if you need to maximize and address each aspect of your fixed asset management operation. Some examples include DataView for Excel, Foreign Currency, CIP (Construction in Progress), and Advantage Automator.
Why choose BNA Fixed Assets Solutions?
If you are looking for a professional asset tracking solution for law enforcement and police department equipment tracking, WiseTrack is a good option to look at. It’s not limited to law enforcement assets though as it’s also suitable for corporate, education, and government organizations.
The tool is a standalone COTS (Commercial Off The Shelf) solution. However, you may extend its capabilities with additional modules. It uses Microsoft SQL Server Database which provides a familiar interface to Windows Desktop making it easy for users to learn and navigate around the platform. It is accessed through your web server while offering mobility through its mobile app.
Why choose WiseTrack?
GoCodes is built for small and medium-sized teams looking for a GPS-enabled asset tracking solution to manage their equipment on the go. It specializes as a school asset and tracking inventory system with no additional equipment and software downloads needed. It works on any device—laptop, computer, and tablet. It even enables barcode scanning on a smartphone.
This product is used in various industries. In addition to schools and higher education, it is used by medical, engineering, industrial, construction, contracting, government, and non-profit organizations. Traceability of each asset is secured with its globally unique digital ID or serial number. This gives you the confidence in identifying and tracking all assets regardless of their number.
Why choose GoCodes?
Wrapping up our list of top 20 fixed asset management software is WorthIT Fixed Assets, a robust business reporting solution designed to help users to properly track and monitor all fixed assets from within a simple interface. It is also an ideal platform for businesses that are looking to graduate from spreadsheets or intricate ERP usage for staying on top of asset movements by showing the current location of your assets and its corresponding movement history.
WorthIT Fixed Assets is equipped with features that can help you maximize your assets and secure better ROI. The software allows you to make smart acquisition decisions through asset cataloguing, which allows you to indicate specific information about each and every component . Furthermore, you can you can keep track of asset maintenance and repair histories to help you not only maximize the lifespan of your assets, but also avoid unwanted downtimes.
Why choose WorthIT Fixed Assets?
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