Published 25 Oct 2023

Top 6 Fixed Asset Management Software of 2023

worker using a fixed asset management software in a warehouse

What is Fixed Asset Management Software?

Fixed asset management software is a digital tool that efficiently tracks and manages physical assets like real estate, heavy machinery, motor vehicles, office gadgets, and even digital property owned and used by businesses across industries, such as manufacturing, construction, and finance. With this software solution, companies do not just gain complete visibility into their operations but also get to digitize all asset-related documents and streamline workflows like acquisition, maintenance scheduling, and compliance audits.

Benefits

Lone workers like mechanics and carpenters already find it hard to keep track of their tools, often misplacing a piece or two now and then. Imagine the headache inventory and asset managers get, ascertaining that thousands of their company’s equipment are all accounted for at the end of the day. 

Here are some reasons why investing in the best fixed asset management software is a great idea:

  • Tracks and secures assets effectively – Businesses, even small start-ups, manage at least a hundred assets. With this tracking solution, the company can account for the location and current status of every piece, which allows them to handle unexpected malfunctions, immediately recover it in case of loss, and prevent possible theft. 
  • Improves asset utilization – Central data repository is a crucial platform feature. It contains information about every single item owned or rented. Usually, this also includes a detailed description of the asset, its complete maintenance history, and recent repair or calibration done. In just a few clicks, users can determine the availability of any equipment for immediate use or reservation. 
  • Reduces operational and overhead costs – By simply organizing all equipment and gadgets used in the workplace, businesses can monitor their performance and anticipate the need for routine upkeep or repair. This prolongs the asset’s lifespan, saving the company money on expensive overhauls or new purchases. Also, when users can find required pieces in less than a minute, they can work on the task faster, saving the company time, which translates into money, in the process. 

Key Features

Whether your organization opts for a stand-alone application for managing fixed assets or a more comprehensive platform like ERP (Enterprise Resource Planning) and CMMS (Computerized Maintenance Management Systems), make sure it has these indispensable functions:

Selecting the Right Fixed Asset Management Software

Any of the digital solutions listed above will help your company secure your assets and ensure they are all in good working condition. Before making your final choice, take another look at your top options below:

Fixed Asset Management Software

Free Version

Paid Plan

Mobile App

SafetyCulture

Yes

$24/user/month*

Yes

EZOfficeInventory

No

$35/month*

Yes

Fiix

Yes

$45/user,/month *

Yes

TrackAbout

No

$2,500/year

Yes

Sage

No

Custom quote

Yes

AssetCloud

No

$1,295/user*

Yes

* billed annually

Eunice

SafetyCulture staff writer

Eunice Arcilla Caburao

Eunice is a content contributor for SafetyCulture. A registered nurse, theater stage manager, Ultimate Frisbee athlete, and mother, Eunice has written a multitude of topics for over a decade now.

Eunice is a content contributor for SafetyCulture. A registered nurse, theater stage manager, Ultimate Frisbee athlete, and mother, Eunice has written a multitude of topics for over a decade now.

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