Top 20 asset management software
What is the best asset management software?
The best asset management software depends on your needs, but top choices include Asset Panda, SAP EAM, IBM Maximo, and Oracle eAM. Each tool records, tracks, and helps you maintain assets across their full life cycle.
- Asset management software watches every asset from purchase to disposal.
- Look for strong tracking, easy integration, mobile access, and wide coverage.
- This guide compares 20 trusted asset management software platforms.
List of asset management software
- Asset Panda
- SAP ERP Suite (EAM)
- Maximo Application Suite
- Oracle Enterprise Asset Management (eAM)
- Accruent Maintenance Connection
- Transcendent EAM CMMS
- Fiix CMMS
- HxGN EAM
- MVP One
- Ramco EAM
- eMaint CMMS
- UpKeep Asset Operations Platform
- PeopleSoft Enterprise Asset Management
- Ellipse EAM
- Fracttal
- AVEVA EAM
- IPS Enterprise Asset Management System
- CGI ARM Suite
- IFS Ultimo
- Mainsaver
Assets are resources that create value for a business. So you want them to keep creating that value for as long as possible.
To do that, managers and staff need to see each asset’s status. They also need clear guides on how and when to service it.
Modern technology gave us asset management software (AMS). These platforms record, track, and monitor every transaction tied to your assets across their life cycles.
As a result, businesses can make smart choices about buying, upkeep, and disposal. This article gives you a quick tour of AMS. More importantly, it lists 20 of the most widely used asset management software tools across many industries.
What does asset management software do?
At its core, asset management software is an automated platform that streamlines your asset processes. First, it records asset transactions such as:
- Purchases
- Services
- Usage
- Disposal
However, gains in smart tech and automation now let AMS platforms track assets in real time. Many tools also link to robotic process automation to cut manual data entry.
For example, trucking and logistics firms use GPS trackers. These show the vehicle’s location plus data on mileage, fuel use, and driving schedules. Fleet teams often pair this with supply chain analytics to spot waste.
An AMS platform does need money and time to set up. Still, over the long run you get a better asset life cycle. You also save on avoidable repairs and replacements.
4 features to find in an AMS system
Choosing asset management software is a big investment. So it pays to do your homework. Check which options exist and which fit your goals.
Each tool offers different screens, support, and extras. Still, four features are worth checking in every AMS.
Asset tracking in your asset management software
Strip an AMS down to its core, and you are left with asset tracking. Most tools ask users to enroll an asset first. You then set details like cost, lifespan, and service schedules.
These are the basics, but tools reach them in different ways. So check for tracking that suits your needs. Extras like real-time GPS or sensor input are not always useful, so weigh them too.
Also, pick a tool that is easy to use. The less training you need, the faster your team can switch. As a result, you save on both cost and man-hours.
Compatibility and scalability
Most tools ship as part of a larger enterprise resource planning (ERP) platform. So it should match the platform you already run.
For example, a firm on Oracle ERP would enjoy smoother work with Oracle Enterprise Asset Management (eAM). In addition, pick a flexible tool that supports a changing mix of assets. Your AMS should adapt as your needs shift.
Mobility and portability
Traditionally, asset data sits in the cloud or on a local server. That is still true for most firms today.
However, more teams now need remote access, especially as 57% of organizations let staff work away from the office.
Portable access also links to how you track assets. For example, location trackers suit moving assets like vehicles and equipment. Meanwhile, office gear like printers keep activity logs that show usage history.
Coverage in your asset management software
Coverage is the next thing to check. Look at the volume and type of assets the platform can handle.
A business owns many asset types. So a tool that covers them all saves you from buying a second system. Common asset management needs include:
- Fixed asset management
- Digital asset management
- IT asset management
- Financial asset management
- Infrastructure asset management
Many IT teams also lean on IT outsourcing services to keep these systems running smoothly.
20 of the best asset management software
Here are 20 leading asset management software tools your business can invest in.
1. Asset Panda
Asset Panda is a favorite among firms with tight budgets. It is a flexible cloud tool that tracks assets and links them together. Better yet, it comes with free mobile apps for Android and iOS with barcode scanning.
However, it may fall short for heavy industrial use. It has no remote machine access, and it lags when you import large data sets.
2. SAP ERP Suite (EAM)
SAP is a global leader in business automation. Its huge ERP Suite covers almost every task, from supplier management to customer care.
Its asset module goes beyond basic tracking. For example, it adds maintenance, job scheduling, performance tracking, and analytics. Still, the main hurdle is cost, since SAP tools aim at larger firms. Its pricing is also rigid.
3. Maximo Application Suite
IBM’s Maximo Application Suite aims to boost efficiency and reliability. One strong feature is its AI-driven, condition-based upkeep. It tracks the real state of an asset and books service as needed. As a result, it responds well to sudden downtime.
However, the tool has a steep learning curve, mostly due to its interface.
4. Oracle Enterprise Asset Management (eAM)
This is the Oracle answer for the E-Business Suite (EBS). It runs on-premise rather than in the cloud.
So it offers strong customization and stable performance. It is built on the Oracle Database and can fit with your other tools. Still, cost is a key challenge here too. Its setup can be tricky, though you can adapt it for easier use.
5. Accruent Maintenance Connection
One common AMS pain point is the learning curve. Accruent Maintenance Connection tackles this head-on. Its clean, simple interface plus in-app tutorials make it easy for non-technical users.
Still, the tool has a few limits. For example, you can only set fixed work schedules, so floating schedules are out. It has also posed migration issues for some firms.
6. Transcendent EAM CMMS
Transcendent blends enterprise asset management with a computerized maintenance management system (CMMS). So after you enroll an asset, you can schedule upkeep and track work orders.
It supports both cloud and on-premise setups, which makes it flexible. One minor issue is that its online services can run slow at times.
7. Fiix CMMS
Unlike full AMS tools, Fiix CMMS only automates the upkeep process. To make up for that, it integrates widely. As a result, it pairs easily with many EAM platforms.
Still, as a CMMS, Fiix serves only part of the asset management space. It taps common tasks like scheduling and asset dashboards.
8. HxGN EAM
Hexagon’s HxGN EAM is an enterprise tool built for many industries. It offers strong asset structuring that extends to work orders. In addition, it works with leaders like Oracle, IBM, and Mitsubishi for easy integration.
It also supports mobile apps, but that is not its strong suit. Navigation is not tuned for mobile, so users often wait for a desktop.
9. MVP One
MVP One focuses on class-based asset management. So it is easy to manage many assets of the same type. This suits firms with heavy logistics, like warehouses or moving equipment.
You can also sort assets by how critical they are. However, its navigation is limited. The search tool is weak and struggles with low-priority assets.
10. Ramco EAM
Ramco is a rising leader in business automation. Its EAM tool is becoming a favorite for some firms. It is a cloud tool that links with finance and human capital management (HCM). You can also run it on its own.
However, it can fall short on reporting. Its graphical analysis is limited and hard to use for all but expert users.
11. eMaint CMMS
eMaint CMMS suits small and mid-size firms in logistics and transport. It supports multi-site upkeep for inventory and spare parts. It can also automate preventive and predictive maintenance schedules.
Like other apps, its main limit is mobile use. It shows asset data well, but editing on mobile is restrictive.
12. UpKeep Asset Operations Platform
UpKeep blends standard asset management with upkeep and analytics. So it links your assets and daily operations in one place. In short, it combines AMS, CMMS, and application performance management (APM) as needed.
It has good coverage and many features. However, its report setup can feel counter-intuitive.
13. PeopleSoft Enterprise Asset Management
PeopleSoft is an automation tool that Oracle acquired. It is a legacy product, yet it stays in wide use. Because of this, Oracle has extended support for it well into the next decade.
Still, it no longer keeps pace with modern AMS. The app is slowly becoming a path toward other Oracle tools.
14. Ellipse EAM
Ellipse EAM by Hitachi has a clean, simple interface. So it suits teams with non-technical users at one end. It comes with a full set of tools to track and maintain assets across their life cycles.
The main drawback is cost. It aims at larger firms, so its upfront and subscription fees are steep for smaller ones.
15. Fracttal
Fracttal is worth a look on cost alone. For starters, it offers a free version so you can test its fit. Feature-wise, it helps manage assets with a focus on business intelligence.
However, Fracttal leans more toward CMMS, and that is where it shines. For example, it handles preventive and predictive upkeep plus work orders well.
16. AVEVA EAM
AVEVA EAM is a one-stop shop for asset optimization. It covers inventory and maintenance needs. You can even set it up for work management, labor, materials, tools, and subcontractors.
As a result, it may overwhelm first-time users, even AMS veterans. It could also improve on cost estimates, schedule forecasts, and other reports.
17. IPS Enterprise Asset Management System
For a robust yet low-cost AMS, the IPS Enterprise Asset Management System is a good pick. It tracks assets from purchase to upkeep, including inventory buying. So it helps firms keep their assets in order.
However, it is complex and offers limited integration. That makes it hard for new users at first. Still, it is worth the effort once set up.
18. CGI ARM Suite
For smaller firms that want portability, the CGI ARM Suite is a solid choice. It is a flexible asset and resource management (ARM) tool. It is also web-based, so anyone can log in from any browser.
The platform meets most needs and is very portable. However, one common concern is support. The team’s skills can vary, which makes projects hit or miss.
19. IFS Ultimo
IFS Ultimo is a flexible platform with many integrations. So it is easy to adopt, even with existing tools in place. It is also user-friendly, which makes it simple to pull data and build reports.
On cost, IFS Ultimo is cheaper than many rivals here. However, consulting fees drive up the bill unless you have an in-house team.
20. Mainsaver
Mainsaver is a CMMS with a decades-long track record. Its features overlap with the wider asset management space. It offers custom dashboards that link with sensors. So your team can view data and monitor assets in real time.
As a general tool, Mainsaver has limits for niche uses. Still, it is a solid tool anyone can test without heavy cost.
Manage all your assets efficiently
Modern asset management software brings clear gains. With the right tool, you can:
- Extend each asset’s lifespan
- Cut avoidable expenses
- Boost return on investment for your organization
Yes, it takes a learning curve and a few changes. Still, it puts your company in a stronger spot going forward. For a wider view, explore digital transformation services that connect asset data to your bigger goals.
Frequently asked questions about asset management software
What is asset management software?
Asset management software is a tool that records, tracks, and monitors your assets. It follows each asset from purchase to disposal. As a result, you can plan upkeep and cut waste.
What is the difference between AMS and CMMS?
AMS covers the full asset life cycle, from buying to disposal. A CMMS focuses only on maintenance. So many firms use both, and some tools combine them.
How much does asset management software cost?
Costs vary a lot by tool and firm size. Some tools, like Fracttal, offer a free version. However, enterprise tools like SAP and Oracle carry higher fees.
Which asset management software is best for small businesses?
Small firms often like Asset Panda, Fracttal, or IFS Ultimo. These tools cost less and are easy to set up. Still, always match the tool to your own needs.
Can asset management software track assets in real time?
Yes, many tools now track assets in real time. For example, GPS trackers show vehicle location and use. Sensors can also flag when a machine needs service.
Key takeaways
- Asset management software tracks assets across their full life cycle.
- Check four core features: tracking, integration, mobile access, and coverage.
- Top tools range from budget picks like Asset Panda to enterprise suites like SAP and Oracle.
- The right tool cuts waste, extends asset life, and lifts your return on investment.
- Match the platform to your budget, asset types, and existing systems.
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