Asset Tracking Costs: The 3 Best Value Asset Tracking Systems in 2024

We’ll cut to the chase: Asset tracking costs vary widely between providers. In fact, the best asset tracking companies can charge anywhere from$10 per month to as much as $500 or more per month. A lot depends on what types of assets you need to track, what management features you need, and the size and complexity of your business.

The good news is that for most small and medium-sized businesses, the cost of tracking your assets will fall on the lower end of this range. In this guide, we’ll explain what impacts the cost of asset tracking software so you know what to expect. We’ll also look at three asset management platforms that offer outstanding value for your money.

Short on Time? Here Are the 3 Best Value Asset Tracking Systems and How Much They Cost

• Asset Tiger: Free for up to 250 assets, with paid plans starting from $120 per year.
• Wasp Barcode Asset Cloud: Starting from $1,295 per year with a 30-day free trial.
• Asset Panda: Pricing by quote only after a 14-day free trial.

What Affects Asset Tracking Costs

Asset tracking costs can range from $10 per month to more than $500 per month. This large range reflects the fact that every business’s needs are different when it comes to managing their equipment, facilities, and digital properties.

Here are some key factors that affect how much you’ll pay:

• Number of assets: Many asset tracking software providers charge based on the number of assets you want to track. As your business acquires more assets, you’ll need to upgrade your plan.
• Number of employees: Some asset management platforms include unlimited users, while others offer a fixed number of seats for administrators. You may have to pay extra to add more administrators to your plan.
• Included asset tags: Most platforms require you to purchase your own asset tags, which can increase the overall cost of asset tracking. However, some providers offer a fixed number of asset tags with your software purchase.
• RFID and GPS tag support: Some asset tracking companies offer support for radio frequency ID (RFID) asset tags and real-time GPS asset tags as an optional upgrade.
• Integrations: Some asset management software includes all available integrations at no extra cost. Others require you to pay extra for each integration your business needs.
• Customer support: Higher-priced asset management solutions usually include 24/5 or 24/7 phone support, whereas budget solutions may include limited support hours by email only. In addition, more expensive platforms often come with one-on-one training when you purchase the software.
• Hosting: While most asset tracking software is now cloud-based, some providers still offer on-premises solutions. On-premises software can be much cheaper, but you’ll need to buy and maintain computer infrastructure to run your asset management system.

To give an example of how these factors work in practice, let’s compare Asset Tiger and Wasp Barcode AssetCloud. Asset Tiger is a budget-friendly platform that starts at just $120 per year, while AssetCloud is a more premium asset tracking solution that starts at $1,295 per year.

For the extra cost of AssetCloud, you can track unlimited assets, versus only 500 assets for Asset Tiger’s starting plan. AssetCloud also offers more customization and asset tracking options, support for managing software licenses, and an API so you can integrate the platform with your other business software.

If you have a lot of assets, multiple office locations, or a complex business structure, the added features in AssetCloud can be well worth the extra cost compared to Asset Tiger.

The 3 Best Value Asset Tracking Systems in 2024: Our Expert Opinion

1. Asset Tiger

Asset Tiger is an affordable asset management platform that enables you to track any physical assets using barcode asset tags. You can also use Asset Tiger to manage facilities, such as conference rooms, and to keep contracts and licenses up to date.

Some unique aspects of Asset Tiger’s pricing make it incredible value. First, it’s completely free for tracking up to 250 assets. There are no limitations on the free plan other than the number of assets you can add to the software. If you have more assets, paid plans start at only $120 per year for up to 500 assets. Tracking 10,000 assets will only cost you $400 per year.

Even better, you can eliminate this annual subscription cost if you purchase a minimum amount of asset tags from Asset Tiger’s sister company, MyAssetTag.com, each year. The minimum purchase to offset the cost of the 500-asset plan is $180 per year, while the minimum purchase to offset the cost of the 10,000-asset plan is $600 per year. Even if you only meet this minimum the first year—when you’ll need barcode tags for all of your items—that’s still a free year of asset tracking.

However, the software does have some shortcomings compared to more expensive alternatives. Asset Tiger doesn’t have integrations or an API, so you can’t connect it to any of your business’s other software tools. The platform also doesn’t support RFID or GPS asset tags, only barcode tags.

2. Wasp Barcode AssetCloud

Wasp Barcode AssetCloud is a powerful asset-tracking solution that’s significantly more expensive than Asset Tiger but offers many more advanced features. These features include:

• The ability to print your own barcode asset tags
• Customizable asset depreciation models
• The ability to restrict asset use by funding source
• 25 built-in reports
• An API for custom integrations

Perhaps most importantly, AssetCloud’s Complete + RFID plan includes an RFID scanner and support for RFID asset tags. This enables you to perform fast inventory checks since you don’t need to manually scan each asset’s barcode. RFID asset tracking also enables you to hide asset tags on expensive equipment, making it easier to recover stolen assets.

AssetCloud is available in both on-premises and cloud-based deployments. The on-premises deployments can be cost-effective because they only require a one-time license, then an annual 18% maintenance and support fee after the first year. However, on-premises plans don’t support RFID tracking. Cloud-based plans require an annual subscription.

The Basic and Complete plans only include one administrator seat, while the Complete + RFID plan lets you add up to five administrators. Wasp Barcodes offers pricing for extra seats by quote only.

3. Asset Panda

Asset Panda is a flexible asset tracking system that can adapt to the needs of businesses across a wide range of industries. It offers scalable plans based on the number of assets you need to track, but you’ll get the same advanced features whether you’re managing 250 assets or 25,000.

Noteworthy features include maintenance schedules for your assets, tracking for software licenses, and the ability to require digital signatures for asset check-out. All plans support unlimited users, making this a great choice for companies with multiple departments or office locations.

All of Asset Panda’s plans are priced by quote only, but you can expect to pay around $1,500 per year for 500 assets. That includes cloud-based hosting, access to Asset Panda’s mobile apps for iOS and Android, and the ability to print your own barcode asset tags. Integrations are available for platforms like Google Workspace, Okta, Zendesk, and Docusign, but you’ll pay extra for each integration you need.