Best Asset Management Software: Best Of 2023

Forbes Advisor analyzed several asset management software solutions and gathered numerous data points into four main categories and multiple subcategories to create our best asset tracking management list for 2023.

Pricing

Many asset tracking solutions come with complicated pricing plans based on the volume of assets tracked and the number of software users. Tiered pricing can make it challenging to determine which solution is best based on the features and services offered. Forbes Advisor vetted each solution thoroughly and considered pricing variances versus value offered as we created this list. This accounted for 20% of our weighted scoring.

Features

We looked at key features offered, from the basics that every asset management solution must have to advanced features that can save you time, money and frustration. Asset audit tools, barcode labels, asset check-in/check-out features, mobile apps, customization, secure access and cloud storage, multilocation support and asset lifecycle management are all attributes Forbes Advisor explored as we conducted this intensive review.

Forbes Advisor then reviewed reporting and analytics tools because asset tracking software should help you quickly assess who is using assets and how effectively each asset is being used. Other features that we considered essential included hardware management, access to a reporting dashboard and third-party software integrations. We weighted features at 40% of our total score.

Third-party reviews

Factors that included customer support played a key role in this ranking. Even the best software requires intervention or explanation from support specialists, which is why we looked at the various methods of support offered as well as support hours for every solution we reviewed. To gain this information, we looked at what real users of the software providers thought about them based on reviews left on third-party review websites G2 and Trustpilot, especially those reviews where the provider scored at least a 3.5 out of 5 in the review. These accounted for 20% of the total score.

Expert analysis

Customer reviews also had a role in how our expert panel looked at the list of asset tracking software providers. They looked at specific categories, such as usability. Most organizations that purchase asset management software also want a solution that’s easy to install and implement, with a minimal learning curve to get up and running. So, we looked at how intuitive the software was for both beginners and more tech-savvy users. Other factors our experts analyzed included each software’s popularity, stand-out features and value for the price. This final analysis accounted for 20% of the total score.