5 Best Asset Management Software Solutions for 2024

We get it. Whether you’re a non-profit or large manufacturer, there are a lot of maintenance teams across the world that still track some of their most important assets using paper documentation or a simple spreadsheet system. But if you’re looking for a cloud-based solution, asset management software can help businesses track all of their most important assets from the convenience of their mobile device. This SaaS (service as a software) product provides a tracking system to organize maintenance repairs, prevent equipment breakdowns and keep assets running smoothly, making it an essential asset management tool in today’s fast-paced world.

Plus, now’s the time to invest in one since analysts expect the asset management system market to reach $27 billion by 2025, growing 10.3 percent a year from 2020 to 2025. Read on to find out exactly how asset tracking software could address your most crucial business needs.

What Makes the Best Asset Management Software for Maintenance Teams?

Asset management software helps internal maintenance teams efficiently maintain and manage assets by providing a centralized hub for scheduling and tracking work orders. When evaluating different fixed asset management software options, focus on critical features that streamline asset management for end-users, such as:

• Accurate asset inventory: Record detailed information about every asset for quick access to vital maintenance data.
• Work order management: Create, assign and track maintenance tasks with attached checklists and procedures.
• Customizable platform: Adapt the software to your unique workflows and requirements, giving you control and confidence in your maintenance management.
• Preventive maintenance scheduling: Set up recurring preventive maintenance tasks based on time or usage to keep assets in peak condition.
• Mobile accessibility: Access asset data, complete work orders and log updates via mobile devices.

Effective asset management is crucial for businesses because inventory ties up around $1.1 trillion of working capital, equivalent to 7 percent of the U.S. gross domestic product (GDP). By choosing an asset management platform with customization possibilities, you’ll be able to optimize your maintenance operations and keep your valuable assets running strong for years as the software evolves with your company. 

5 Best Asset Management Software at a Glance

Coast – For Meter-Based QR Codes

Coast is a powerful fixed asset management software streamlining meter data collection with clever QR code functionality. Technicians scan an asset’s unique QR code with their smartphone to log readings on the spot — no manual data entry is required. Always-current meter data powers more competent maintenance.

Key features:

• QR codes for assets and external work orders, streamlining the tracking and management of all maintenance-related activities.
• Preventive maintenance automations and notifications, intuitive dashboards and real-time alerts based on meter thresholds, ensuring proactive maintenance and minimizing the risk of equipment failure.
• Highly customizable workflows within the app allow users to tailor various fields, forms and processes to align with their unique needs and standard operating procedures.

Coast pros:

• Affordable asset and parts inventory tracking: Coast provides a centralized database for managing and tracking all assets and associated parts, giving maintenance teams complete visibility into their resources.
• Attaching documents, procedures and images to asset templates: Coast lets you attach user manuals, maintenance procedures, photos and other important documents to your asset records. Your maintenance technicians will have all the info they need right at their fingertips, boosting accuracy and efficiency on every job.
• Enhanced communication and collaboration within work orders: Coast’s built-in messaging and photo-sharing features take team communication and collaboration to another level. Users can chat with colleagues, share photos and solve problems in real-time without leaving the work order.

Coast cons:

• Limited integrations with third-party systems: Coast’s limited integration options with other software tools means you may need help sharing data.
• Advanced reporting features locked behind a paywall: Free or lower-tier plan don’t offer customizable reports and analytics that could provide useful information about your maintenance procedures and enable you to make informed decisions.

Price:

• Free plan available.
• Starter plan features begin at $20/month. 
• Premium modules cost extra.

Sage – For Integrations With ERPs

Sage is a powerful asset management software that seamlessly integrates with several popular Enterprise Resource Planning (ERP) systems, including Plex, SAP and Oracle as well as providing an abundance of other kinds of software. This helps facilitate the integration of maintenance operations with broader business processes, improving visibility, optimizing decision-making and streamlining organizational data flow. 

Key features:

• Deep, two-way integration with leading ERPs ensures real-time asset data synchronization across systems for a unified view of maintenance operations.
• Bulk editing capabilities allow users to update multiple asset records simultaneously, saving time and effort.
• Enterprise asset management (EAM) capabilities provide a more holistic approach to asset lifecycle management, which is helpful for companies with more complex maintenance needs.

Sage pros:

• Tax depreciation calculator: Sage’s fixed asset management software takes the headache out of tracking and managing the financial side of asset ownership with its built-in tax depreciation calculator. You’ll be able to calculate and report depreciation for tax purposes with pinpoint accuracy, all from staying compliant and optimizing your financial planning.  
• Easy implementation: Sage offers a straightforward and efficient onboarding process, enabling maintenance teams to adopt the software and realize benefits quickly. The intuitive interface and user-friendly design minimize the learning curve, allowing users to navigate the system quickly.
• Responsive customer support: Sage provides exceptional customer support, with a knowledgeable and responsive team ready to assist users with any questions or issues. The support team dedicates itself to ensuring a smooth user experience and helping organizations maximize the value of the software.

Sage cons:

• Limited customization options: Sage’s features are great, but if your organization has specific or complex maintenance processes, you might hit a wall with the customization options. The software could be a challenge when it comes to tailoring preventive maintenance schedules and work order management to your unique needs.
• Clunky data import/export: If you plan on importing or exporting data between Sage and other systems, especially with Excel, brace yourself for a bit of a headache. Some users have complained about the process being clunky and taking too much time, which can slow you down and leave you feeling frustrated.
• Underwhelming reporting capabilities: Some customers have described Sage’s built-in reporting features as disappointing. The design and functionality of the reports may not meet the expectations or requirements of all organizations, and creating custom reports can be a complex and labor-intensive process.

Price:

• Sage’s pricing starts at $295 per month, with the cost scaling based on the number of users and the specific features required. 

eMaint – For Historical Data Tracking

eMaint is a detailed asset management software that captures and maintains detailed historical data for every asset throughout its entire lifecycle. eMaint enables organizations to analyze asset performance, spot trends and make data-driven decisions that optimize maintenance plans by logging extensive information on asset usage, maintenance, repairs and related expenses. 

Key features:

• Complete asset inventory management and historical data tracking provide a complete picture of an asset’s lifecycle from procurement to disposal.
• Flexible preventive maintenance scheduling and work order management enable organizations to efficiently plan, assign and track maintenance tasks.

eMaint pros:

• User-friendly interface: eMaint boasts an intuitive and user-friendly interface that simplifies navigation and minimizes the learning curve for new users. The software’s ease of use facilitates quick adoption and increases the likelihood of consistent, accurate data entry by maintenance teams.
• Powerful reporting and system integration capabilities: eMaint offers powerful reporting tools that allow organizations to provide informative reports on various maintenance-related topics. The software also provides extensive integration options, enabling seamless data exchange with other systems like ERP or CMMS, promoting a unified view of maintenance activities.
• Exceptional customer support: eMaint is known for its proactive and thorough customer support and training. The dedicated support team is highly responsive and knowledgeable, ensuring users can quickly resolve issues or questions. 

eMaint cons:

• Labor-intensive customization and data entry: If you want to tailor eMaint to your specific needs, prepare to roll up your sleeves. Some customers have mentioned that configuring and customizing the software can be quite a chore, consuming much of your maintenance team’s time and energy. Specific processes will force you to manually enter data, which can slow things down.
• Difficulties with external work order creation: You’ll frequently need to manage many sites and distinct login passwords when generating external work orders in eMaint. These additional hoops may complicate things and cause delays or misunderstandings when delegating work to outside vendors or contractors. 

Price:

• Free plan available.
• Team plan pricing starts at $69 per user monthly. 
• Enterprise pricing varies based on needs.

SafetyCulture – For Audit and Compliance Management

SafetyCulture is a powerful asset management software that manages audits and compliance. It streamlines on-premise inspections, corrective actions and compliance documentation by replacing cumbersome paper forms and checklists. SafetyCulture streamlines the regulatory reporting and auditing processes by keeping thorough records and ensuring assets are always available for an audit. 

Key features:

• Scheduled maintenance and inspections, allowing organizations to plan and track required asset inspections efficiently.
• The software provides a range of features, including digital forms, checklists and automated alerts for non-compliant conditions, helping businesses meet their compliance requirements.
• Real-time data visibility, providing instant access to inspection results for the entire team, facilitating timely issue resolution and informed decision-making.

SafetyCulture pros:

• User-friendly interface: SafetyCulture boasts a clean, intuitive and user-friendly mobile interface, making it easy for technicians to use the software on the go, even with limited technical expertise. The user-friendly design minimizes training requirements and encourages consistent, accurate data entry by maintenance teams, reducing the risk of errors and inconsistencies.
• Customizable scoring and color-coding: Users may create custom score systems using SafetyCulture. Inspection results are color-coded according to a traffic light system, providing a clear visual representation of an asset’s compliance status. With this graphic depiction, managers may rapidly identify areas of concern and prioritize remedial measures, allowing them to focus their efforts where needed most.

SafetyCulture cons:

• Limited customization options: SafetyCulture offers many capabilities and features, but its customization options for data fields and inspection forms may need to be improved. Businesses with complex or precise compliance requirements face challenges tailoring the software to their needs. They may need to find workarounds or resort to manual processes to bridge the gap.
• Confusing setup for specific industries: SafetyCulture can be confusing to set up for specialized assets or industries, like HVAC systems or other niche applications because there are no pre-built templates. The maintenance team may require additional time and effort to configure the software according to their specific requirements, which could delay implementation and adoption.

Price:

• Free plan available.
• SafetyCulture’s Premium plan starts at $24 per user per month.

Asset Panda – For Tracking in the Field

Asset Panda stands out as a thorough asset management software, particularly well-suited for technicians working in the field. Its powerful and intuitive mobile app, available on iOS and Android platforms, is designed to streamline asset management tasks and improve efficiency for technicians on the go. With a built-in barcode scanner, the app allows technicians to access crucial asset information, complete work orders, track labor time and update records in real-time, all from their smartphones or tablets. No laptop required.

Key features:

• Asset Panda’s mobile app is designed with ease of use, making it simple for technicians to navigate and perform essential asset management tasks from working in the field, even with minimal training.
• The mobile app’s integrated barcode and QR code scanning capability allows technicians to quickly retrieve asset records, log updates, and track asset movements without requiring manual data entry, saving time and reducing the risk of errors.

Asset Panda pros:

• Multiple inventory views: List, gallery, map and calendar views are just a few of Asset Panda’s many data presentation possibilities. Technology improves overall productivity and user experience by giving users permission to see and interact with asset information in the manner that best meets their needs.
• Check-outs and check-ins: Asset Panda allows users to create custom actions that update when an asset is checked out or checked back in, keeping everyone up-to-date on equipment downtime.

Asset Panda cons:

• Limited ability to export asset data: Several customers have reported difficulties accessing and exporting their asset data from Asset Panda. In many cases, users must contact support to request data exports rather than being able to do so through a self-service option, which can be time-consuming and inconvenient.
• Additional costs for implementation and integration: Asset Panda provides several features and functionalities. Essential components are extra, though, including interfaces with other systems and implementation packages. The total cost of ownership may rise dramatically, particularly for businesses with intricate integration needs.

Price:

• Asset Panda’s pricing starts at $83 per month for the startup plan, which includes basic features and functionality.

Choosing the Right Asset Management Software for Your Maintenance Team

Each of these five asset management software solutions has its own strengths. However, customization is key to efficient asset management. With its customizable workflows, user-defined fields and innovative QR codes based on meters, Coast stands out from other providers. It adapts seamlessly to your specific maintenance operations, making it the perfect proactive asset management solution. 

Experience the difference yourself by signing up for a free Coast account today.