Asset Management Software

Unlock the full potential of your assets, maximize efficiency, and make smarter decisions with Asset Management Software

What is Asset Management Software?

An Asset Management Software is an enterprise-level solution that helps manage a diverse range of assets, facilitating optimal asset utilization, performance evaluation, and ongoing asset maintenance. It provides access to industry-critical tools that are required to gain deeper insights into the management of assets and ensure they are utilized consistently at their peak performance.

Asset Management System is an integral part of the modern-day ERP Software. It provides a centralized platform that serves as the single source of truth for complete asset tracking and management. It helps maintain an accurate record of the organization-wide assets, promoting smooth workflow and reducing discrepancies & non-compliance penalties.

Why Choose Sage Asset Management Module?

Sage Asset Management Module gives you complete control over your assets and provides asset-specific information at your fingertips.

Here’s why leading Indian businesses across different industries choose Sage X3 for comprehensive asset management:

Track tangible & intangible assets with ease
Better investment planning & decision-making
Track asset expenditure from procurement to disposal
Plan, supervise, and track asset maintenance & repair activities
Easier cross-functional collaboration & improved productivity

Types of Asset Management Software

Asset management software plays a key role in helping businesses keep track of their assets and aids in reducing costs, enhancing efficiency, and making asset management easier and more accurate.

There are many different types of asset management software available that serve different purposes.

Let’s see which are these key types-

1. Computerized Maintenance Management (CMM)

The software helps businesses manage and track their maintenance operations, including scheduled maintenance of their assets and repair activities.

2. IT Asset Management (ITAM)

Seamlessly manage your IT resources such as servers, printers, and licenses through a single and intuitive interface.

3. Digital Asset Management (DAM)

The asset tracking systems help manage digital assets like audio files, multimedia content, etc., and also offer asset optimization and storage, asset distribution, and more.

4. Software Asset Management (SAM)

Easily track and manage your software licenses (whether perpetual or SaaS-based) through a single unified platform.

5. Industry-focused Asset Management (IFAM)

A tailored solution designed to meet the specific needs of an industry. For example, an ERP for Chemical industry standardizes chemical business processes.

6. Fixed Asset Management (FAM)

An all-encompassing platform that lets you manage your fixed assets, such as furniture, vehicles, buildings, office equipment, and land. For example, ERP for Furniture Manufacturing accelerates the process lifecycle of furniture products and lowers operating expenses.

7. Enterprise Asset Management (EAM)

An ERP implementation that takes care of everything from asset recording, work order management, and procurement to maintenance scheduling.

Top Features of Asset Management System

1 – RFID & Barcode Tracking-
Locating and managing assets becomes easy when the assets are tracked using RFID & barcode technology. It also proves to be a powerful feature to manage large numbers of assets.

2 – Forecasting & Budget Tracking-
Sage 300 ERP, the best asset management software, helps keep track of purchase costs along with monitors predictable future costs. This makes sure that the financial condition of the company remains healthy.

3 – Geolocation Tracking-
When assets like a vehicle or any precious equipment, are in a moving state, the geolocation tracking feature can help companies prevent theft or any asset losses. This feature of Sage X3 ERP helps in managing the fleet more effectively with increased ROI.

4 – Periodic Scanning of Assets-
This feature of Sage 300 asset management software ensures that only authorized devices are connected to the network. It scans the business networks periodically to track and fetch hardware & software details while also monitoring any change in the network.

5 – Real-time Inventory Alerts-
With the Sage 300 ERP, companies can set real-time alerts and notifications for when software is installed or removed, when software is getting used post-expiry, or when the disk space on a computer crosses a specific percentage, and more.

6 – Maintenance Management-
With this feature of ERP software, companies can accurately track when assets are pending for maintenance. The maintenance management software also records all maintenance activities in a centralized log file.

Benefits of Asset Management Software

⇒ Single Source of Truth

Your Asset Management Solution serves as the single source of truth. It acts as a unified platform that provides greater asset visibility and makes asset tracking much easier. When you know the whereabouts of your assets, you can make data-driven decisions to enhance efficiency, improve asset lifespan, and reduce costs.

⇒ Improve Asset Utilization

Effective utilization of your assets is a cornerstone of your business’s success. Make the best of your assets and align them with your custom workflow and industry needs. Maximize the performance of your assets — whether machinery, equipment, land, or furniture — and improve your overall Return on Investment (ROI).

⇒ Enhance Audit-readiness

Generate detailed reports containing asset-specific information to reduce discrepancies and improve your audit-readiness. Maintain your asset integrity and keep detailed records throughout the entire asset lifecycle from procurement to disposal to enhance your audit-readiness.

⇒ Streamline Asset Procurement

Automate and digitize the procurement of your new assets to expedite approvals, get real-time insights, improve cross-departmental collaboration, and ensure continuity in the production activity.

⇒ Preventive Maintenance & Repair

Best Asset Management Software provides a unified platform for easier asset maintenance and repair. Schedule & track your asset repair & preventive maintenance, assign work orders, and track quality & compliance.

⇒ Improved Data Accuracy

The data gathered and analyzed with the asset management solution can assist senior executives in making quick, informed decisions. For example, Pharma ERP Software provides access to complete and accurate information about the current stock of medicines.

Limitations of the Asset Management System

1. Longer Deployment Time

The Asset Management System may take a longer time to deploy throughout businesses that are larger in size and complex in operations.

2. Higher Deployment Cost

The deployment cost can be higher for an On-premise Asset Tracking System due to higher licensing fees and the need to set up dedicated teams & resources. Nevertheless, you can avoid it using the Cloud ERP.

3. Specialized Training Sessions

You will need to dedicate special time to employee training and feedback mechanisms to ensure the success of the newly implemented Asset Tracking System.

4. Data Migration

If you choose a low-quality Asset Management Solution, migrating data from spreadsheets or legacy applications can be difficult and prone to errors.

What's the Best Time to Invest in an Asset Management System?

Here are some of the scenarios that warrant deploying the Asset Management System:

You have a large chunk of assets (such as furniture, machinery, and vehicles) that are too difficult to track or manage manually
Your spreadsheets or legacy tools are insufficient for your growing operational needs
Your assets are underutilized. Meaning, there is a potential to increase your revenues.
Your assets are over-utilized, leading to frequent breakdowns, disruptions, and higher repair costs.
You need to adhere to stringent compliance requirements (for example, calculate depreciation on your assets)
Manually keeping track of asset maintenance or repair is becoming cumbersome
You need better visibility into your organization’s physical and digital assets
You’re looking to get rid of the manual system of recording assets
You need to proactively monitor asset-specific data (such as speed, temperature, and machine logs)
You need to store asset data in the cloud and collaborate with different teams in real time to gain efficiency

What Factors Should be Considered while Purchasing Asset Management Software?

When you are looking for asset management solution, there are a few key things to keep in mind. Here are some important steps to think of when purchasing asset management software-

➦ Compatibility with Existing Systems-
It is important to check that all the necessary functions will be integrated with existing systems and applications. Also, look for scalability and make sure that the software can grow with the business.

➦ Security Features-
Next, consider the security features. Asset management solution should provide secure access to data which will protect the company from data breaches and other potential security threats.

➦ Mobility Functions-
Determine the mobility features of the asset management software. It should allow for asset tracking across any device, so users can access the data from anywhere and at any time.

➦ Cost of the Software-
Cost is a key factor when purchasing asset management software. Look for a asset management solution that fits your budget and can provide the features you need. Various companies offer a range of pricing plans, so find one that matches your organization’s needs.

➦ Customization-
While choosing an asset management software, see if there are any customization options available. As per your business needs, customization is necessary to make the business scalable. Also check if the software allows IoT integration.

➦ Reporting-
The software must have powerful reporting features including pre-built reports to customized report settings. Accurate reporting can help businesses manage inventory while creating an asset register. Also, some software offer customized reporting features that helps scale the business.

If these steps are followed correctly, companies can easily purchase the best asset management software and can track their assets accurately.

Top 10 Best Asset Management Software In 2025

1. Sage X3

Sage X3 asset management software offers greater control over all business operations with end-to-end calculations. The software generates a wide variety of custom reports along with charts, graphs, and more.

Features

Project costing and financial management
Change control management
Integrated HR and payroll
Project analytics and industry KPIs
Stock and purchasing management

Pros

Manage the lifecycle of each asset carefully
Easy reporting with tracking & documentation
Enable compliance with legal frameworks
Reduce lost inventory and downtime
Improve the lifespan of assets

Cons

Integration with existing systems may take time

2. SAP

SAP asset management software can easily manage all assets, facilities, machines, and more. It also enables timely maintenance and analyzing reports accurately. Organizations can use this system for greater ROI, better security, etc.

Features

Analytics and Reporting
Environment, Health and Safety Management
Spare Parts Handling
Risk and Criticality Management
Collaborative Asset Management

Pros

Centralized Data
Enhanced Fault Pattern Analysis
Systematic Documentation
Monitor & Digitize Asset Data in Real-time
Quick Team Collaboration

Cons

No free trial given
Cost is high
Not very flexible

3. IBM Maximo

IBM Maximo is an asset management software that aids companies to monitor assets and equipment, schedule preventive maintenance, tracking assets, etc.

Features

Systematic Communication
Parse Valuable Data
Inventory Optimization
Storeroom Management
Preventive Reactive Maintenance

Pros

Improved Regulatory Compliance
Seamless Integration
Preventive Maintenance Applications
Smooth Team Collaboration
Streamlined Workflow

Cons

Cannot view planned jobs in the order section
Initial startup may be quite time-taking
Complex customization functions

4. AssetWorks

AssetWorks allows users to manage important assets like infrastructures, vehicles, buildings, etc. The services include fuel management, fleet management, surplus assets, and asset management.

Features

Work Order Management
Property Management
Inventory Management Handling
Data-driven Reporting
Maintenance Management

Pros

Remote Access
Centralized Data
Better Efficiency
Extend Asset Life Span
Improved Reporting

Cons

Tough to import data
No integrations offered to manage various systems
The date changes to date of printing when an invoice is printed

5. ServiceNow

ServiceNow offers full automation of the IT lifecycle through a single platform and manages all capabilities to streamline infrastructure, field services, and operations. It also streamlines daily asset activities through advanced automation.

Features

Asset Lifecycle Monitoring
Asset Relationship Management
Hardware Inventory Tracking
Software Inventory Tracking

Pros

Enhanced inventory management
Accurate incident management
High Product Scalability
Easy data filtration
Custom dashboards are possible

Cons

Tough configuration & customization
No pivot table option included
Creation of default roles

6. eMaint

This is a CMMS solution that helps companies to manage assets, optimize work processes, and schedule predictive maintenance. This software offers a brilliant option for maintaining properties for businesses of all sizes.

Features

Accurate Account Management
Condition Monitoring
Better Inventory Scheduling
Asset Downtime Tracking
Asset Logs

Pros

High Productivity
Better Business Visibility
Improved ROA
Ensure Regulatory Compliance
Refine Maintenance Plans

Cons

No drag-and-drop functionality
Complex Implementation
Limited Reporting

7. Infor EAM

Infor EAM is best asset management software that helps organize, track, and streamline assets, materials, budgets, projects, inventories, etc. You can also track KPIs, monitor labor work, create reports, etc. here.

Features

Materials Management
Inspection Management
Budget Management
Work Management
Asset Tracking

Pros

Free Space & Reduce Construction
Centralized Records
Precise Connect Data Points
Actionable Insights
Asset Data Information

Cons

No free trial
Collaborative Asset Management is not supported
Voice-to-text is not supported

8. Atera

Atera is a cloud based asset management software that offers a robust and integrated solutions for all IT departments, IT consultants, and more. It offers affordable and per-tech pricing model.

Features

Remote Monitoring & Management
Quick & Seamless Access
Network Discovery
Patch Management
Ticketing

Pros

Manage unlimited endpoints , devices, etc.
Actively monitor the devices’ performance and availability
Personalized alert settings
Automatic updates and maintenance
Scan networks instantly

Cons

Complex patching and scripting tool
Infeasible documentation
Lack of multi-monitor support

9. Jira Service Management

Jira service management software helps companies manage all projects effectively and get a better level of work. It also makes teams collaborate easily while also keeping them on the same page. It is one straight-forward and excellent asset management software.

Features

Asset Reviews
Asset Tracking
Asset Discovery
Problem and Incident Management
Migrate asset data from popular third-party tools

Pros

Scans entire network to discover asset
Flexible and open data structure
Manage requests, incidents, changes, etc.
Easily manage onboarding & offboarding process
Better customer experience

Cons

Sometimes broken workflows
Hard to migrate any changes made
Issues in reporting problems for clients

10. Auvik

Auvik asset management software offers impressive capabilities that give users better insights into the networks. This also offers real-time network mapping and inventory along with automated backup.

Features-

Effective discovery & mapping
Device Identification for upgrade
Improved network protocols
Automated Mapping
Integrated Documentation

Pros-

Better Visibility and Monitoring
Custom and Monitoring Alerting
Automatic backups
Quick integration with other tools
SSO Authentication for easy access

Cons-

The software is expensive
Unimproved traffic analysis section
Time-consuming Data gathering

Maximize Your Asset Efficiency with Sage X3

As your business grows in size & operations, so does the complexity of managing its assets and resources. An Asset Tracking System provides you with up-to-the-minute insights into asset discovery, procurement status, and other critical asset-specific processes. It facilitates complete visibility across different phases of the asset lifecycle, allowing your business to cut costs and ensure optimal asset utilization.

Sage X3 is an asset management solution that provides a comprehensive record of your organizational assets, bridges departmental gaps, and ensures your assets remain in optimal condition for maximum production efficiency. It provides real-time insights into the asset maintenance & repair, leading to improved asset longevity. It is a single platform to keep your asset costs down, boost productivity, and maintain regulatory compliance.

FAQ of Asset Management Software

What is Asset Management with an example?

Asset Management is a comprehensive procedure that includes everything from tracking your asset’s current status, location & condition, managing predictive maintenance & repair, standardizing asset-specific operations for better quality & regulatory adherence, and tracking your asset throughout different stages of its lifecycle. For example: You may use a Manufacturing ERP to schedule the maintenance & repair of your machinery, and make smarter & faster decisions to improve asset utilization and boost production.

Which tool is used for Asset Management?

Sage X3 is a popular tool used for complete asset management, including asset tracking, asset performance evaluation, asset maintenance, and optimum asset utilization. It supports integration with modern technologies such as RFID, GPS, NFC tags, QR codes, and barcodes to reduce the potential for human errors and improve overall efficiency.

Which is the Best Asset Management Software?

Sage X3 is the best Asset Management Software that paves the way for efficient asset management and optimization. It aggregates asset-specific data from across the organization and presents it in visually intuitive charts, advanced reports, and customizable dashboards that aid in timely and efficient decision-making. Best of all, it supports seamless global expansion, multi-subsidiary transactions, and localized compliance.

What is an Asset tracking system?

An Asset Tracking System provides complete visibility into your organization’s assets to ensure they are aligned to meet your strategic business goals. It promotes smooth collaboration & work order management, streamlines procurement of raw assets, optimizes the overall lifecycle of your assets, and simplifies the disposal of retiring assets.

What are the 5 P's of asset management?

In today’s highly competitive business landscape, businesses are realizing the importance of the 5Ps of asset management to create an optimum framework for maximum asset utilization. These 5Ps include people, processes, performance, planning, and portfolio. Integration between the 5Ps allows businesses to improve their returns on investment in the asset.

What are the 5 Essential Steps in the Asset Management Process?

The five essential steps in the Asset Management Process are given below:

Build a comprehensive database of your assets, such as machinery, vehicles & furniture
Calculate the asset lifecycle cost, which is the total cost of owning & operating assets
Build a comprehensive plan for asset maintenance, repair & disposal
Improve asset longevity through regular maintenance & repair
Build a roadmap to keep your team aligned and secure your investments

What is the Cost of an Asset Management System?

The cost of an asset management system depends on the number as well as the types of assets to be managed. The actual ERP cost will depend on many factors, such as the size of the company size, the number of users, the level of customization, and the need of ERP modules.

There are some asset management solution providers which offer customized quotations as per the business needs. This makes sure that the asset tracking systems can easily uplift with the changing organizational requirements.

What is Asset Management Software?

Why Choose Sage Asset Management Module?

Sage Asset Management Module gives you complete control over your assets and provides asset-specific information at your fingertips.

Here’s why leading Indian businesses across different industries choose Sage X3 for comprehensive asset management:

Track tangible & intangible assets with ease
Better investment planning & decision-making
Track asset expenditure from procurement to disposal
Plan, supervise, and track asset maintenance & repair activities
Easier cross-functional collaboration & improved productivity

Types of Asset Management Software

Asset management software plays a key role in helping businesses keep track of their assets and aids in reducing costs, enhancing efficiency, and making asset management easier and more accurate.

There are many different types of asset management software available that serve different purposes.

Let’s see which are these key types-