![What Are The Best Free Asset Management Software? [Updated 2024]](https://smallbusinessjournals.com/wp-content/uploads/2024/01/Feature-image-4.png "What Are The Best Free Asset Management Software? [Updated 2024]")
A free asset management software system is a free application for recording and tracking an asset throughout its life cycle. The life cycle includes the stage from procurement to disposal. Asset management software provides an organization with information about the location of assets and who is using them. Also, these software systems also tell you details about the asset. This is one of the major information to use in software management.
In this article, you will learn about the best asset management software systems. However, before that, you will have a general idea of asset management software systems. In addition to that, you will also learn about the major pros and cons of these software systems. Hence, to learn more, read on through to the end of the article.
What Is Free Asset Management Software?
According to the Forbes Advisor,
“Asset management software helps organizations maximize asset utilization while minimizing the cost of owning and using assets. The best asset management software makes it easy to audit and track your assets as well as important asset details, such as purchasing and licensing fees, maintenance dates, asset location, usage compliance, user permissions, contract renewal dates, and usage patterns.”
With the help of asset management software, you will be able to record and track an asset throughout its life cycle. Furthermore, the software will give you information about the location of certain assets. Apart from that, you will also get details of the users’ location and asset details. No matter what assets you have, you can use asset management software along with accounting software to manage them.
The following are some of the major functions that an asset management software does:
- You can measure the performance of vendors
- Optimization of the portfolio of suppliers
- You can perform audits of vendors and check compliance with policies
- You can also optimize your costs related to licensing
- Streamlining of the procurement processes
What Are The Best Free Asset Management Software In 2024?
According to Tech.co,
“Opting for free asset tracking software comes with pros and cons. The pro is obvious – no costs. The downside is that features tend to be limited. On a positive note, the best providers usually offer free trials that last for a few weeks.”
With free asset management tools, you will be able to do a lot of tasks. Apart from that, there are other free asset management software, you will also get security, support, offline access, data backup, add-ons, and many more. Hence, you can save thousands of bucks for maintenance and powered assets. However, if you use paid software systems, you will get more features.
Top 5 Free Asset Management Software
The following are some of the major free asset management software systems you need to know:
1. Samsara
Although Samsara offers paid versions of asset management software, it still offers a free 30-day trial. Also, it is rich with features and will allow you to track assets of all sizes.
| Pros | Cons |
|---|---|
| Free trial available Real-time GPS tracking Geofencing alerts Historical updates Inventory reporting Maintenance trackingAutomatic reports | Manual inclusion of assets Slows with more updates |
2. AssetTiger
This one is available fully for free. Here, you can track up to 250 assets. However, to support more assets, you will need to use a paid account. Furthermore, it also supports unlimited users, as it comes with cloud-based accounts.
| Pros | Cons |
|---|---|
| You can have unlimited users Contract management and license management Maintenance alerts Unlimited cloud storage | You can include only fixed assets Documentation is limited You can add a maximum of 250 assets |
3. FreshService
With FreshService, to log assets, you can use barcodes or QR codes. It uses 3G connectivity to log assets. Furthermore, you can also create incident reports.
| Pros | Cons |
|---|---|
| Free trial The work-order function works well IT service management tools | You have to pay to include more assets No GPS tracker |
4. Spiceworks
This app is best for IT-based businesses and works on an ad-supported revenue model. You can use a lot of features as long as you are okay with seeing advertisements.
| Pros | Cons |
|---|---|
| Effective license management Integration of helpdesk Email alerts are available with automation features | Manual entry of assets Outdated plugins |
5. Snipe-IT
Snipe-IT is another asset tracking system based on barcode. Furthermore, it also comes with an OpenAPI. Also, it supports unlimited users and assets. Hence, if you are on a tight budget, this is a great option for you.
| Pros | Cons |
|---|---|
| Open source Unlimited assets and users Slack integrations | Not beginner-friendly No free support Hosting is paid |
Free Asset Management Software – Pros And Cons
The following are some of the major pros and cons of free asset management software systems:
Pros
Here are the major pros of free asset management software that you need to learn about:
- One of the major pros of free asset management software systems is that they are free. Here, you can manage your assets without spending a lot of money on an application software system.
- A free software system is also easy to use and set up in the first place. Furthermore, since they have simple and fewer features, it will give you a streamlined experience.
- Since there is little to no money involved, the risks are less. Hence, you will be in a better position to test new processes.
- If you work in a small team, you will be able to get the required tools without paying for features that you do not use.
Cons
Here are a few cons of free asset management software systems that you need to be aware of:
- As it is available for free, the features are fewer in number. Hence, there is a limitation on the number of actions you can take.
- You will not have access to professional support as is available on premium versions of free asset management software systems.
- You cannot add more data to the software once your maintenance team grows with it.
- There is a lack of customization options since these software systems come with limited features.
Wrapping Up
These free asset management software systems are also useful for organizations. This is because, apart from keeping track of your assets, you can also do various other functions. Hence, choose your asset carefully.
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