Selecting the Right IT Asset Management Software Solution

IT asset acquisition goes hand in hand with business growth. As businesses expand, they purchase IT assets like computers, laptops, mobile devices, networking equipment, and software licenses. To sustain efficiency, the acquired assets need to be maintained and inventoried. A robust system for long-term lifecycle management of assets must be established.

What Is IT Asset Management Software?

IT Asset Management (ITAM) is commonly defined as a set of business practices that join financial, contractual, and inventory functions to support life cycle management and strategic decision-making for the IT environment. An ITAM program starts with detailed information about existing IT assets, which is where IT asset management software solutions come into play.

The goal of this article is to help you understand why businesses turn to IT asset management software, and what are some of the key benefits associated with the use of IT management software solutions. The article also introduces several popular IT asset management solutions, including Network Inventory Advisor, a professional IT inventory management software and licenses compliance auditing solution.

IT asset management software solutions help answer the following questions:

  • What IT assets do we own?
  • How are our existing IT assets being used?
  • How are our existing IT assets distributed and by whom they are used?
  • Do we comply with regulations and software license agreements?
  • How many software licenses are in use and how many remain unused?
  • How should we plan our future hardware and software purchases?

In its simplest form, IT asset management software has only the most basic inventory features. Assets are entered manually, which can be time-consuming and lead to errors and inaccuracies.

Virtually all modern IT asset management software products feature automatic network discovery capabilities and sophisticated reporting tools, among many other things.

Benefits of Implementing an IT Asset Management Solution

There are many benefits associated with using a modern IT asset management solution, such as Network Inventory Advisor:

  • IT asset management software can save you money by providing financially-focused asset data for strategic planning.
  • IT asset management software can save your IT staff a lot of time they would otherwise have to spend on manual IT inventory management.
  • IT asset management software can help you use your current IT assets to their fullest potential.
  • IT asset management software solutions make reporting on aspects of your IT inventory easy.
  • An IT asset management program helps new IT employees understand what IT assets the business owns and how are they being used.
  • IT asset management software ensures compliance with corporate, contractual, and regulatory requirements.

How to Find the Right IT Inventory Management Software?

Not all IT inventory management software solutions are equally suitable for all businesses. You should always select the solution that best fits your needs and not just the one with the most features or largest user base. But regardless of whether you’re a small company or a large enterprise, you want your IT inventory management software to have the following characteristics:

  • Ease of use: A great IT inventory management solution not only makes IT inventory management simpler but it’s also easy to use itself.
  • Support: Just like you wouldn’t work with a business partner who’s unwilling to go the extra mile when the situation calls for it, you shouldn’t purchase IT inventory management software from a company that doesn’t stand behind their product and doesn’t provide you with excellent support.
  • Stability and reliability: Your IT inventory management solution must be stable and dependable. Unless you trust the information it provides you with, you won’t be able to rely on when deciding on your IT purchases.
  • Integration and compatibility: The right IT inventory management software fits into your IT environment and integrates seamlessly with your infrastructure.

Top 5 Best IT Asset Management Software Solutions

Here are our top 5 favorite IT asset management software solutions on the market:


SolarWinds is a collection of IT monitoring and management tools, encompassing everything from asset management to IT security, virtualization troubleshooting, resource monitoring, and more. SolarWinds shines when used as a comprehensive IT management solution.


Spiceworks Inventory is a one-stop shop for managing devices, customized reporting and alerting, and software tracking. The software is easy to use and takes just a few minutes to set up. It comes with useful software auditing capabilities as well as support for add-on apps and widgets.

A1 Tracker

A1 Tracker is a contract management software solution designed to help businesses and organizations navigate the jungle of different types of contracts they deal with on a daily basis.
A1 Tracker

Asset Panda

Asset Panda is a flexible asset tracking and management platform that works through Asset Panda’s online interface or mobile app. Asset Panda can be configured to fit the needs of companies large and small, and it even comes with a built-in barcode scanner.
Asset Panda

Our Pick: Network Inventory Advisor

Network Inventory Advisor is, by far, the most user-friendly asset management software solution on this list. Being the official software audit partner of Autodesk Inc., Network Inventory Advisor is highly dependable and supports software products from more than 500 vendors.

You can use it to audit both software and hardware assets, and the initial asset discovery process is fully automated for your convenience. Like other IT asset management software solutions we’ve recommended, Network Inventory Advisor has robust reporting capabilities and the ability to scan hundreds of network devices in a matter of minutes. It also supports network SNMP devices, non-IT assets, and has robust network monitoring features.
Network Inventory Advisor is IT Asset Management Software
IT asset audit with Network Inventory Advisor takes just a few simple steps:

  1. Log in with your administrator credentials.
  2. Start the automated asset discovery process.
  3. Wait for Network Inventory Advisor to gather all software and hardware assets located on your network.

With Network Inventory Advisor, you gain control over your IT assets and enjoy the benefits associated with having accurate hardware and software asset usage data at your disposal. IT asset monitoring with Network Inventory Advisor is simple, yet the solution meets all the above-described criteria for selecting good IT asset management software.

Start your Network Inventory process with Network Inventory Advisor now!

You are getting 15-day, fully featured trial version.