Best Asset Tracking Software 2021

By Dan Barraclough | Updated: 18 January 2021

Welcome to the only asset tracking software guide you’ll ever need. We’ll introduce the best options out there, show you how they can become an asset for your business, and explain which features to look out for. 

You can trust our advice, too. We’re independent experts, having carried out heaps of research into the best asset management software in Australia. We provide impartial pointers and advice because we want the best for your business, and we’ve whittled down our findings to the six best suppliers around today.

Check out the suppliers that made the cut…

Asset Tracking Software Supplier

Starting PriceFree version?GeolocationReal-Time Asset Discovery

Depreciation Management

EZOfficeInventory

USD 35/monthX

Cheqroom

USD 50/monthX

Sortly

USD 39/month

X

Asset Panda

Custom pricingX

UpKeep

AUD 35/month

Nlyte Software

Custom pricingX

X

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What is Asset Tracking and Management?

Asset tracking involves managing the movements of your equipment either through GPS signals, RFID (radio frequency ID), or barcode scanning.The best asset management software will also inform you when it’s time to replace parts or when to book a service, helping your business reduce costs and boost efficiency. 

Using asset tracking solutions could help you identify equipment that isn’t delivering enough return on investment (ROI), plus it allows your staff to focus on other areas of your business rather than spending hours manually logging asset details.

You can already see how the best asset tracking solutions can help your business, so why not get the ball rolling today? We can match you up with asset tracking suppliers that only suit your exact requirements. Just fill out our quick form and you’ll hear from leading suppliers with free, non-obligation quotes.

Selecting the Best Asset Tracking Software

Finding the best asset management software involves making a list of what your business needs to track, and how it wants to track it. But don’t fret – we’ve listed below all the features you should look out for when choosing an asset tracking system for your physical, software, or infrastructure assets.

Software Asset Tracking – We Recommend EZOfficeInventory

In order to successfully track your software assets in these modern times, you’ll need to be able to buy, use, and upgrade your company’s software applications directly from the supplier’s app. 

EZOfficeInventory ticks those boxes with its excellent app, which is rated 4.1/5 on the Apple Store and 4/5 on the Android Market.

Physical Asset Tracking – We Recommend Asset Panda

It’s important you keep track of your asset’s location and quality. In other words, you need an asset management solution offering depreciation management, which is when the software assesses how much the asset's usage is affecting its value). This feature keeps track of the value of your assets over time, helping you make decisions on which assets to upgrade or replace down the line.

Whether you’re tracking computer equipment, construction tools, lighting fixtures, or coffee machines, Asset Panda provides all the tools you need to track your assets through their life cycle. These tools include a barcode scanner, depreciation management tools, regular reporting updates, and more.

Infrastructure Asset Tracking – We Recommend UpKeep

This is like physical asset tracking on a grand scale.  Infrastructure assets include physical infrastructures such roads, generators, transport equipment and machinery, and other large assets used by corporations or public organisations.

According to its website, UpKeep is the ‘#1 Asset Equipment Management Software for Facility management teams’. That means it provides excellent asset software tracking for businesses managing large buildings, infrastructures, or real estate. 

With UpKeep, you can keep up to speed on your infrastructure assets through real time notifications and detailed reports, with current clients including McDonald's and Unilever.

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Suppliers

According to our research, the best asset management software is EZ Office Inventory. The rest of the star-studded list comprises Cheqroom, Sortly, Asset Panda, UpKeep, and Nlyte Software. Each supplier has its merits and made our list for a reason, so check them out in more detail below to see which one is right for your business.

The best asset management software comes from:

  1. EZ Office Inventory
  2. Cheqroom
  3. Sortly
  4. Asset Panda
  5. UpKeep
  6. Nlyte Software

Before you assess our asset tracking review, why not cut to the chase by comparing free quotes from asset tracking system suppliers? It couldn’t be easier. Simply explain what you need from your asset tracking system, and we’ll connect you with leading suppliers who’ll be in touch with tailored quotes to suit your exact needs.

1. EZOfficeInventory – Best Overall Asset Tracking Software

Used by juggernauts such as Amazon, CNN, and Intel, EZOfficeInventory also has pricing options to suit small and growing businesses.

Its most basic plan (USD35/month) comes with an impressive range of features, including QR and Barcode labels, audits, GPS location, depreciation management, and much more.

Overall, EZ covers everything you’d need, from A to Z.

2. Cheqroom – Best for Tracking Valuable Physical Assets

Another favourite for many household names (including Nike and Microsoft), Cheqroom offers asset tracking features for companies large and small.

Concerned about your expensive equipment? With Cheqroom, you can easily create and control digital audit trails, and have users digitally sign off any checked out assets to improve accountability and reduce risk of theft. Cheqmate!

3. Sortly – Best for Ease of Use

Need a cheap asset management software that’s easy to use, but doesn’t lack quality? Sortly will sort you out.

On top of its seamless interface, you’ll enjoy the ability to track up to 100 assets, add custom notes and tags for each item, and use a barcode lookup on its free plan.

For just $39/month, though, you’ll get all that plus features like stock alerts, user activity tracking, custom QR labels, 2,000 asset entries, and loads more.

4. Asset Panda – Best for Customisation

Asset Panda is (bamboo) shooting up in our expectations, having been included in the top 500 list of America’s Fasting-Growing Private Companies in 2018.

Customisation is Asset Panda’s greatest strength, allowing you to personalise data fields to suit your exact needs. You can also add unlimited users, which gives you that little bit of extra flexibility.

5. UpKeep – Best for Facility Management Teams

UpKeep keeps you up to speed with your physical and infrastructure assets. It offers seamless work order management directly from its app, meaning you can keep your business ticking along while on the go.

All data is backed up daily onto the cloud, allowing you to access your asset information anywhere, anytime.

All in all, we’re sure you’ll be lovin’ it, given that McDonald’s also trusts UpKeep to monitor its most prized assets.

6. Nlyte Software – Best for IT Asset Management

Nlyte’s technology asset management (TAM) solution is everything you’d need for successfully tracking your technology, and then some.

Its software will automatically track the life cycle of your assets, and suggest when it's time to renew – helping your business boost its ROI. Plus, you’ll have automated audit reports to help provide a clear view of your tech’s performance.

Next Steps

Now you know the best asset management software available today, it’s time for the next step. If you’d like free quotes from leading asset tracking suppliers, then check out our breakdown of how it works…

Step 1: Share some details on our form so we can better understand your needs…

Step 2: We’ll match you up with the supplier that best suits your requirements…

Step 3: You’ll save money by comparing quick, non-obligation quotes.

Find Quotes Today >

Asset Tracking FAQs

What is Asset Tracking?

Asset tracking involves tracking the movements and status of your physical or digital assets, either by receiving GPS updates, scanning barcodes in and out, or using RFID (radio frequency ID) and Bluetooth sensors yourself. This technology helps you understand who’s using your assets, when to renew them, and which are impacting your ROI (return on investment).

How Does Asset Tracking Work?

You can track your assets by receiving GPS or RFID updates which broadcast the asset’s location, helping you understand where your assets are and who’s using them. You can also scan barcodes attached to your assets, which will log details on its value and overall status.

What is Asset Management?

This role involves managing a company’s assets, whether they’re software, physical, or infrastructure based, and assessing the value of each asset in order to help the business increase its ROI. Asset management software helps asset managers streamline their work and boost productivity.

What is Asset Tracking Software?

Asset tracking software companies supply the technology that you’ll use to track your own assets. These suppliers usually offer an app or web-based software, which allows you to view the location of your assets, receive reports, manage your work orders, and more, all in one place.

Why is it Important to Manage Your Physical Assets?

Managing your assets makes your business more efficient when it comes to boosting your bottom line, providing everything you need to know about the performance and location of each asset, all in one place. The best asset management software will also tell you when it’s time to upgrade or renew your assets, helping to improve your ROI.

Dan Barraclough

Dan’s a Senior Writer at Expert Market, specialising in digital marketing, web design, and photocopiers, amongst other topics.

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