Best IT asset management software for 2023
Your email has been sent
An asset management software is a necessary part of every IT department. Find out which one is best for your business.
If the winds are blowing toward greater investment in tech, the IT weathervane is definitely pointing in that direction: According to data outlined in the 2022 State of IT report by Spiceworks’ Ziff Davis, most businesses (53%) expect tech spending to increase year-over-year in the next 12 months. Gartner predicts IT spending will grow by 3% throughout 2022, despite the current financial environment.
“The current levels of volatility being seen in both inflation and currency exchange rates is not expected to deter CIOs’ investment plans for 2022,” said John-David Lovelock, vice president of Gartner.
Lovelack further warned that organizations that opt out of investing in the short term “will likely fall behind in the medium term and risk not being around in the long term.”
Among top categories on corporate IT shopping lists are data center systems, software and IT devices. Gartner also reports that companies are favoring cloud-based services for IT upgrades versus ownership of locally-hosted platforms (18.4% growth in 2021 and expected growth of 22.1% in 2022).
SEE: IT management software: The ultimate buyer’s guide (TechRepublic)
Jump to:
Tying it all together is IT asset management software, which is used to track and manage an organization’s physical and digital assets, from mobile devices to software licenses, while ensuring that companies have eyes on all assets at all times throughout each stage of the IT life cycle.
Asset Panda is known as an asset management tool that can track anything, including IT assets. Asset Panda takes a flexible approach to asset management, enabling teams to custom-tailor the platform to fit their specific needs.
Asset Panda also provides access to unlimited users. Anyone who must track IT assets has the ability to do so in one centralized location.
Key Features
SysAid is a provider that offers everything from a robust IT service desk to full IT asset management. SysAid’s asset management tools are built to fit right into any service desk to boost efficiency and improve visibility.
SysAid’s asset management tools are broad. For example, IT teams can benefit from inventory management, including support for hardware and software assets. Other notable features include the ability to set up custom monitoring and receive real-time alerts.
Key Features
Freshservice by Freshworks is a full-service suite of IT asset management tools. A hallmark feature of Freshservice is the platform’s automated discovery capabilities. Using the tool’s Discovery Probe, IT teams can quickly scan all IT assets in real-time to update asset data. These discovery solutions work with all types of assets, from hardware to virtual machines.
Freshservice also offers features such as relationship mapping, full asset life cycle management, contract management and built-in software-as-a-service management.
Key Features
UpKeep is different from the other platforms in this list in that it combines computerized maintenance management system, enterprise asset management and application performance management capabilities in one solution. Through UpKeep’s Asset Operations Management Platform, teams can monitor asset maintenance, manage assets throughout their life cycles and improve asset performance.
UpKeep’s unique capabilities make the platform a great choice for IT teams in technical industries such as manufacturing, government, fleet management and utilities. Plus, UpKeep is a mobile-first platform, enabling teams to track and manage their assets from anywhere.
Key Features
ManageEngine’s AssetExplorer is a web-based, end-to-end asset management tool. AssetExplorer enables teams to manage IT assets, including hardware and software, from deployment to retirement.
A key feature of AssetExplorer is the built-in software license management tools. Teams can manage all types of licenses, including individual licenses, original equipment manufacturer licenses and enterprise licenses. As a result, IT teams can ensure license compliance.
Other capabilities include IT asset inventory management, software asset management, CMDB and purchase order management. AssetExplorer is different from other options on this list, as the platform offers a free edition that can be used by teams with fewer assets.
Key Features
ServiceNow is a platform used by IT teams to connect all IT workflows, from service management to portfolio management. ServiceNow’s IT Asset Management solution enables IT teams to automate the life cycle of software, hardware and cloud-based assets. Built-in capabilities include everything from hardware asset management to IT asset offboarding and beyond.
These capabilities are built on ServiceNow’s Now Platform, which enables IT teams to use one centralized source for all assets. Plus, teams can automate their asset management workflows using built-in, no-code playbooks.
ServiceNow integrates with a wide range of other apps and services to help IT teams improve efficiency. Examples of current integrations include Jamf, Microsoft and IBM.
Key Features
GoCodes is a no-nonsense asset tracking solution. GoCodes provides custom QR code tracking for everything from desktop computers to routers and beyond. Teams can use the mobile scanning apps to complete asset-specific tasks from anywhere.
GoCodes also features robust reporting and analytics tools so teams can see in-depth data about their assets in real-time. Users can utilize the built-in check-in/check-out solution to check IT equipment out when necessary to simplify collaboration and tracking.
Key Features
Ivanti is a full-service IT asset management platform offering solutions for discovering, managing, securing and servicing all IT devices. Ivanti Neurons for ITAM is a solution that enables IT teams to track hardware and software as well as on-premises and cloud-based devices using a centralized database.
The solution also features real-time discovery, life cycle tracking, barcode scanning and more. Plus, teams have access to more robust tools such as vendor management and automation.
Key Features
IT asset management software is a subcategory of IT management software. It simplifies the process of managing all IT-related assets, from computers to SaaS applications.
SEE: How to reduce costs and risk with IT asset management systems (TechRepublic)
The key role of IT asset management software is to give IT teams full visibility into their tech infrastructures. As a result, they can monitor, forecast, plan and manage to reduce costs, eliminate security risks and ensure compliance.
IT asset management software is also used to effectively manage each stage of an asset’s life cycle, from procurement through maintenance and disposal.
IT asset management software is a critical tool for virtually any organization that uses any kind of IT asset. This includes organizations across industries, from healthcare to manufacturing.
Asset management isn’t just for large IT teams or enterprise organizations with overly complex infrastructures either. Even SMBs with a simple tech stack should utilize asset management tools to scale effectively.
IT asset management software’s importance continues to result in growth year over year. According to recent data, the global IT asset management software market is expected to grow by $4.23 billion between 2022 and 2026.
There are numerous reasons for this growth, but two key factors stem from the organizational need to do more with less and the need to be in compliance with ever-evolving security requirements. IT asset management software delivers on both of these needs.
SEE: How to choose the right data privacy software for your business (TechRepublic)
First, these tools are intelligent and offer a single-pane-of-glass view of all assets, boosting efficiency by reducing the number of tools required for asset management. Second, IT asset management software simplifies compliance. For example, keeping track of IT assets enables organizations to more closely monitor for security risks that may endanger consumers.
Asset visibility is a continual security challenge for organizations of all sizes. This is exacerbated by the constant expansion of the attack surface due to the growth of the cloud, IoT and other tools.
To keep company data protected, organizations must know what assets they own and how they’re being used at all times. IT asset management software enables real-time visibility for all assets in one centralized location.
IT asset management can lower the costs associated with IT procurement, maintenance and future expansion.
For example, by understanding what assets an organization currently has deployed, IT teams can avoid purchasing assets the organization doesn’t need and decommission devices no longer required.
Plus, IT teams can effectively track and manage their software platforms, eliminating license overspend, as well as budget and plan for future asset needs.
IT teams must wade through the murky waters of multiple levels of compliance. They must ensure they’re in compliance with vendor contracts as well as with numerous external laws and regulations, such as those involving data privacy.
IT asset management software helps IT teams remain in compliance in many ways. For example, proper management ensures assets such as software and hardware are updated and secure. These tools can also help IT teams “show their work” when it comes to compliance audits.
One of the key roles of any IT asset management software is real-time monitoring. Through monitoring, IT teams can be proactive, finding and mitigating security threats quickly: Teams can see if a device goes rogue or if a certain app hasn’t been upgraded to its latest version.
In addition, IT asset management ensures critical devices are decommissioned properly when employees leave or when devices must be replaced.
The more devices for which an IT team is responsible, the more complex management will be. This is especially true when it comes to managing each unique stage of the asset life cycle. Asset management tools provide support for each stage, from deployment to retirement.
For example, asset management tools can ensure software is deployed properly and that hardware is working as it should. These tools can also ensure assets are being updated and maintained on a regular basis. Finally, asset management software can help teams understand when assets should be replaced.
While asset tracking and asset management are often used interchangeably, asset tracking is slightly different. Asset tracking typically refers to the tracking of physical assets such as computers and IoT devices using barcodes, RFID tags or GPS. However, many ITAM platforms will also enable IT teams to track software assets too.
Real-time monitoring of assets ensures IT teams can keep a constant eye on all physical and digital assets. For example, IT teams can see which assets are in need of repair and which ones are being utilized or underutilized at any given moment.
Real-time monitoring can also help teams mitigate potential security risks fast, and teams can use monitoring tools to track lost or stolen devices to aid in the recovery process.
Real-time monitoring is also a critical feature for today’s remote workforce. Some IT asset management platforms offer mobile capabilities, so teams can stay connected to their assets from anywhere.
Managing an asset’s life cycle from deployment to retirement is a complicated process. However, it’s critical for ensuring assets are properly updated and maintained. IT asset management software will include tools for every step of the asset life cycle. Better yet, life cycle management is automated by the software, removing the tedious process from the IT team’s plate.
IT asset management software has the ability to alert IT staff when issues occur within hardware or software. For example, IT staff can receive notifications when potential security threats are detected or when a computer goes offline.
Due to the real-time monitoring and AI capabilities of modern platforms, IT staff can also receive notifications when the system detects issues that may lead to future maintenance needs. For example, they can be alerted if the system detects a computer that’s lagging or increased network traffic.
IT teams use a ton of tech tools each day. IT asset management software integrates with these tools seamlessly to provide a centralized view of all assets, both physical and digital. As such, the asset management software chosen should integrate with the company’s IT help desk or ticketing software.
While many IT asset management platforms include robust, real-time analytics dashboards, reports are still important for various tasks, from taking inventory to budgeting. IT asset management platforms typically come with built-in reports teams can pull that dive into everything from asset utilization to employee productivity. Many of these tools will offer report customization tools so IT teams can create reports using the information they need.
Our editors highlight the TechRepublic articles, downloads, and galleries that you cannot miss to stay current on the latest IT news, innovations, and tips.
Best IT asset management software for 2023
Your email has been sent
Your message has been sent
TechRepublic Premium content helps you solve your toughest IT issues and jump-start your career or next project.
Looking for the best payroll software for your small business? Check out our top picks for 2022 and read our in-depth analysis.
Next year, cybercriminals will be as busy as ever. Are IT departments ready?
The company, which for several years has been on a buying spree for best-of-breed products, is integrating platforms to generate synergies for speed, insights and collaboration.
Organize a number of different applicants using an ATS to cut down on the amount of unnecessary time spent finding the right candidate.
Whether you are a Microsoft Excel beginner or an advanced user, you’ll benefit from these step-by-step tutorials.
Adopt the best practices in this TechRepublic Premium checklist to encourage consistently thorough cloud storage account reviews. The IT department is typically best positioned to perform regular audits of the organization’s cloud storage services. Among the tasks the technical contact assigned to performing regular administrative cloud storage reviews should perform is confirming that least-privilege standards …
Some operations and tasks don’t require painstaking attention to detail. Unfortunately, processing payroll isn’t one of them. With sensitive salary and wage information, bank and direct deposit accounts, social security numbers, and other personal information in play, the stakes are high. When preparing a payroll run or supporting payroll operations, it’s important to follow a …
This document is designed to serve as a template that technology consultants and consulting firms can use to create a standardized ethical, professional and behavioral code of conduct for its employees, contractors and subcontractors. From the code of conduct policy: SUMMARY The IT Consultant Code of Conduct Policy describes the practices and behavior the organization’s …
Onboarding new employees and providing them with the equipment and access they need can be a complex process involving various departments. However, a standard set of guidelines which can be reused and revised as needed can streamline these endeavors. A new employee checklist and default access policy assigns responsibilities for tasks to ensure new hires …
11 Best Client Management Software Reviewed for January 2023 Business 2 Community
source
This short Q and A with Dezan Shira & Associates’ Vietnam Director, Filippo Bortoletti, sheds light on the current state of Vietnam’s sharing economy, where it might be headed next, and what actions need to be taken to ensure it is functional and profitable long into the future.
The sharing economy is a new business model taking advantage of digital technologies and connecting people. It is different from traditional business models because all transactions are carried out online via a third-party multi-dimensional platform. Such multi-dimensional platforms allow direct interaction between different user groups, and the more partners are involved, the more value is created for the entire system.
This new business model offers numerous advantages for the parties involved. The market becomes more competitive and diversified, transaction costs are reduced, and providers have access to a wider consumer base and increased demand. Business opportunities based on digital foundation are multiplied, creating new jobs and increasing incomes, as well as promoting innovation.
Vietnam is well positioned to exploit the growing opportunities in the sharing economy thanks to its well-educated, tech-savvy, and young population. Sharing economies in Vietnam are quite diverse; in recent years, sharing economies have developed in transportation, tourism, and hotels, and they are expected to expand in a variety of other industries as well. At the same time, many new technologies are being applied in the digital payments sector, such as fingerprint authentication, facial recognition, and QR codes.
Digital transformation has also been a driver for change in public administration. Vietnam is an ambitious country with a long-term growth strategy and has demonstrated its willingness to embrace changes by implementing e-government solutions. Such efforts have translated into the formation of an electronic document management system with several national databases and the introduction of e-invoicing, among others.
While the sharing economy is bringing a lot (and has the potential to bring even more) of positive changes and opportunities, it also threatens the survival of businesses adopting traditional business models. And with fast-developing sharing economy models, the legal framework is lagging.
Specifically, there are some issues to be tackled when embracing the new business model of sharing economies, which are mainly related to: market entry and business conditions, tax collection, users’ interests, workers’ rights, and information security. These issues could create challenges related to uneven competition, economic concentration, the development of informal markets, and a lack of tools to protect users.
One of the issues I have observed is that – within the sharing economy – it is extremely difficult to register a business if it is related to new business lines that are unfamiliar to state management agencies. Due to a lack of definition for such new businesses and clear market entry rules, local officers tend to reject applications or apply unreasonable requirements. The current way of thinking is to ban anything that cannot be managed, thus hindering the development and growth of new businesses.
For example, cryptocurrency trading and peer-to-peer lending are not yet eligible for business registration in Vietnam as they pose high risks for customers, including personal data leakage, cyberattacks, or could involve customers in money laundering and tax evasion.
The absence of a comprehensive and clear legal framework can also result in the proliferation of many black credit loan apps disguised as peer-to-peer lending through leveraging the grey areas of the current legal framework.
A prime example of potential issues that can surface without a clear and flexible legal framework is the controversy between Grab and Vinasun, both directly operating taxis in Ho Chi Minh City. Due to a loophole in the regulations, Vinasun was subject to Government Decree 86/2014 on transport services, while Grab was subject to a different set of regulations. This is an example of unequal competition, as Grab’s operations were not subject to the same requirements and taxes.
This example highlights the importance of having a clear set of rules to define and regulate businesses in the framework of the sharing economy. Indeed, soon after Government Decree 10/2020 was released, many differences between technology providers (like Grab) and transport service providers (like Vinasun) that are providing the same kinds of services were eliminated. For the first time, the concept of electronic contracts as technology vehicles were recognized, and at the same time Decree 10 officially referred to the application software of car booking companies, thus levelling the playing.
Amid a contradictory and unclear legal framework, businesses and users are exposed to increased risks. To this end, Vietnam’s government has actively approached opportunities in the sharing economy. And especially after the COVID-19 period, there is a stronger will to embrace the digital transformation of the local economy.
The government for example has adopted a series of guidelines and policies to catch up with Industry 4.0 and digital transformation – which are considered pillars for the growth of the country – and is now adapting the legal framework to include new flourishing businesses arising from the sharing economy.
For example, the recent Government Decree 85/2021 on e-commerce was aimed at strengthening the responsibility of e-commerce platforms, adding specific regulations on social networks, and improving management of tax collection. The result is a clearer definition of e-commerce, excluding businesses only involved in website and application design (thus not directly participating in the business operations of e-commerce platforms) and including social networks meeting certain conditions – such as Facebook marketplace. Additionally, the decree clarifies market access conditions in compliance with the Law on Investment and mandates a guaranteed payment system.
On the other hand, there are still areas requiring adjustments, for example, the regulations surrounding electronic transactions. Specifically, many provisions have become outdated and could become a barrier to economic activity. There is a lack of clarity around applying electronic signatures and a lack of regulations on electronic contracts as well as on technology measures to ensure data security.
In general, Vietnam’s government should focus on creating a level playing field, encouraging innovation and competition, and improving regulations on transactions, contracts, ownership, property rights, and dispute resolution mechanisms.
Vietnam has made efforts to create a legal framework to guide and promote the development of the digital economy. However, although the government has a vision for sandboxing new businesses in the sharing economy, there is a lack of clear implementation guidelines. A solution could be the creation of working groups that include leaders of different ministries, for coordinating and implementing the sandbox policies. Also, the legislative way of thinking – and the approach of competent state management agencies – should be more flexible when working side-by-side with innovative start-ups.
More from Filippo Bortoletti
About Us
Vietnam Briefing is published by Asia Briefing, a subsidiary of Dezan Shira & Associates. We produce material for foreign investors throughout Eurasia, including ASEAN, China, India, Indonesia, Russia & the Silk Road. For editorial matters please contact us here and for a complimentary subscription to our products, please click here.
Dezan Shira & Associates provide business intelligence, due diligence, legal, tax and advisory services throughout the Vietnam and the Asian region. We maintain offices in Hanoi and Ho Chi Minh City, as well as throughout China, South-East Asia, India, and Russia. For assistance with investments into Vietnam please contact us at vietnam@dezshira.com or visit us at www.dezshira.com
Previous Article
« Foreign Contractor Tax in Vietnam: A Complete Guide for 2022
Next Article
Vietnamese Garment Makers Hit Snag: Omen or Opportunity? »
Vietnam has long established itself as a favorable destination for investors wanting to diversify their Asia presence. In recent years, this decision has…
This edition of Tax, Accounting, and Audit Guide for 2022, produced in collaboration with our tax experts at Dezan Shira & Associates, aims to provide an…
Vietnam’s digital economy has seen significant growth over the last decade and is expected to be valued at US$57 billion by 2025. The country’s digital…
An Introduction to Doing Business in Vietnam 2022 will provide readers with an overview of the fundamentals of investing and conducting business in Vietnam….
Dezan Shira & Associates helps businesses establish, maintain, and grow their operations.
Stay Ahead of the curve in Emerging Asia. Our subscription service offers regular regulatory updates,
including the most recent legal, tax and accounting changes that affect your business.
Want to improve your team’s project management and keep track of requests in real-time? Learn how to create a project request board in Google Sheets.
Perhaps you’re in a position where you need to ask your coworkers for help or send them assignments, but you’re feeling a bit awkward about it—or you just don’t care about all the calls and emails back and forth. Why not create a project request board?
While you could sign up for a project management tool like ClickUp or Asana and get your coworkers to join you, you may already have access to a simple, no-cost solution—Google Sheets. Follow along with this article to learn how you can build a project request board using this common spreadsheet tool.
The goal of creating a project request board is twofold. It serves as a way for you to overcome the friction caused by delegating tasks. Plus, it reduces back-and-forth communication, saving you time.
Essentially, with each assignment you add to the board, you’ll map out everything your coworker needs to know to complete it. So you’ll want to be consistent and create a layout that prompts you to add vital details each time. Details like:
Since every workplace is different, there may be some additional details you can include to tailor it to your team's needs. So, before getting started, take a moment to mull that over. If you can’t think of any now, you can add them later, but remember, less is more. You wouldn't want to add any unnecessary steps.
To get started with your project request board, open a blank document in Google Sheets. Write the following titles, and any extras you come up with, across the top of the spreadsheet:
Help your titles stand out by bolding them and adding a background color to the row. You can also freeze the top row of your Google Sheet by highlighting it and going to View in the top menu, Freeze, and then 1 row.
Adding a status button to your project request board gives you and your coworkers a quick way to share progress. It’s also a great way to get a quick overview of everyone’s workload and identify if someone could use an extra hand. Some examples of status you can use are:
You can create a working status button, much like the ones you find in project management software like ClickUp and Asana, by adding a dropdown menu to your sheet. To do this:
Now you’ll have a menu your team can use to show a task's status. There's an edit button at the bottom of the list, but that only works for the selected cell. To change all your status buttons, return to the data validation menu and pick the rule you want to edit from the sidebar.
Repeat these steps to add quick options to your Priority, Assignee, and Created by columns if you want.
If you simply tag or mention someone in the sheet, Google won’t send a notification. When assigning someone to a project, you can give them a heads-up by following these steps:
Now, if your coworker has questions, they can add them as a comment in the same thread. By keeping all of your communications about the task in the same place you assigned it, you’ll both know exactly where to find the conversation again later if someone needs a refresher.
Since there will be more than one person using the sheet, it’s good you have a backup, just in case someone accidentally deletes or writes over important information. At the top of your sheet, you’ll notice a hyperlink that states the most recent edit occurred. Click this, and you’ll see backups from previous work sessions and the changes that took place.
Using version history in Google Sheets is handy because you can see your previous projects and notes if you need a record of them. But you can also revert to a previous version if your sheet gets messed up somehow—it happens.
Note: If you want a more direct record of completed assignments, add another sheet to your document using the plus symbol in the bottom-left of your screen and cut and paste your rows in there once the status changes to Done.
Creating a project request board in Google Sheets is an excellent way to save time when delegating and collaborating on assignments. Not only will there be less back and forth, but everyone will know where to find the information for tasks, having it all in one place.
It also helps you avoid some of the awkwardness you could feel about asking for help or dishing out tasks. You’ll get more comfortable with that as you go.
Autumn Smith is a freelance tech and lifestyle writer from the great Canadian wilderness. She studied graphic design, but marketing kept finding her instead; her passion for writing trying to push its way in. Now she writes full-time.