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What is Asset Management Software?

Mary McMahon
By
Updated May 16, 2024
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Asset management software is a software product designed to help people keep track of their assets. This software can be used by both businesses and individuals. A number of software companies make programs of this nature, including versions designed for special applications. Many provide free demos for people who would like to experiment with the software before making a purchase.

Users can employ asset management software to track fixed and mobile physical assets ranging from real estate to company cars. In addition, such software can be used to manage bank accounts, securities, and other financial assets. The software includes the ability to make profiles for each asset to provide a snapshot as well as integrate information in meaningful ways.

Asset management software contains spaces to show what an asset is, where it is located, who is authorized to use it, when it was acquired, and the cost at acquisition. This information can be used to physically monitor the asset, including scheduling maintenance. In addition, the software can be used for tax purposes. This software generates information on depreciation and other tax-related matters that can be plugged into tax filings and, in some cases, the software interfaces directly with accounting software to fill this information in automatically.

Powerful asset management software can work with barcodes or radio frequency identification (RFID) tags in order to provide a way of quickly inventorying and tracking physical assets. Systems that provide this functionality can scan assets in and out of the system and track assets as they are moved from place to place. Software that supports this option can be a valuable acquisition even if people think that they won't be using it right away. Users can always change their minds and start bar coding or tagging assets in the future.

Some things to consider when buying software for asset management include the operating system it will be used on, the terms of the software license, and the level of support offered by the manufacturer. It can also be helpful to use a demo product or to ask permission from a business currently using the software to explore their software to see how it works in the field.

The term "asset management software" is sometimes used to refer specifically to software used to manage computers, printers, and other devices connected to a computing network. In this sense, the software keeps track of the physical assets on the network, their users, and their usage patterns. Asset management software is used by information technology professionals to track and manage networks and ensure that they are operating safely and efficiently.

EasyTechJunkie is dedicated to providing accurate and trustworthy information. We carefully select reputable sources and employ a rigorous fact-checking process to maintain the highest standards. To learn more about our commitment to accuracy, read our editorial process.
Mary McMahon
By Mary McMahon

Ever since she began contributing to the site several years ago, Mary has embraced the exciting challenge of being a EasyTechJunkie researcher and writer. Mary has a liberal arts degree from Goddard College and spends her free time reading, cooking, and exploring the great outdoors.

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Mary McMahon

Mary McMahon

Ever since she began contributing to the site several years ago, Mary has embraced the exciting challenge of being a...

Learn more
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