How to Choose Asset Management Software

Guide to Choosing Asset Management Software

Choosing the right asset management software is a strategic decision that will affect your organization's efficiency for years to come. A wrong choice can mean unnecessary costs, data loss, and user frustration. In this article, we present 10 key criteria you should consider when selecting asset management software.

73%

of companies switch software within 3 years due to poor selection

40%

time saved by companies with proper software

85%

of organizations prefer cloud solutions

2-4 weeks

average implementation time

Why Do You Need Specialized Software?

Many organizations still rely on Excel or paper records. This brings a number of problems that specialized software solves:

Outdated Data

In Excel, you never know who changed what and when. Version control is a nightmare and the current asset status is a mystery.

Manual Errors

Typos, duplicates, missing records. Manual records are prone to errors that are hard to detect.

Difficult Inventory

Without QR codes and mobile scanning, inventory takes weeks instead of days.

Missing Depreciation

Manual depreciation calculation is tedious and error-prone. Specialized software handles this automatically.

Learn more about the differences between Excel and specialized software in our article: Asset Management in Excel vs. Specialized Software

10 Criteria for Software Selection

When selecting asset management software, you should consider the following 10 key criteria. Each can significantly affect your satisfaction with the solution:

1.QR Code and Barcode Support

QR codes are the foundation of modern inventory. Software should enable generating, printing, and scanning QR labels directly from mobile phone. This can save up to 90% of inventory time.

2.Automatic Depreciation

Manually calculating depreciation is tedious and error-prone. Quality software automatically calculates tax and accounting depreciation according to legislation and alerts on fully depreciated assets.

3.User Permissions and Roles

Organizations need different access levels. Admin sees everything, department heads only their units, regular users have limited rights. A flexible role system is essential.

4.Print Reports and Exports

Software should offer pre-made reports: inventory lists, classification/disposal protocols, asset cards, summary overviews. Export to PDF and Excel is standard.

5.Cloud Solution

Cloud means access from anywhere, automatic backups, and no worries about installation and updates. Data is always current and securely backed up.

6.Mobile Access

For field inventory, mobile access is essential. Application should work on mobile phones without installation - just a web browser is needed.

7.Excel Data Import

If you have existing records in Excel, data import capability is important. Quality software offers an import wizard that guides you through the entire process.

8.Local Technical Support

Quality support is priceless. Look for a provider with local helpdesk and fast response. Support should be available at least on business days.

9.Transparent Pricing and Licensing

Consider not just price but licensing model. Monthly subscription without long-term commitments is more flexible. Watch out for hidden update fees.

10.References and Experience

Verify references from similar organizations. Software tested in schools will better suit schools. Ask for case studies and contacts to existing customers.

Cloud vs. On-Premise Solutions

The basic decision is choosing between cloud and local (on-premise) solutions. Each approach has its advantages and disadvantages:

Cloud Solution (SaaS)

Software runs on provider's servers. Access via web browser from anywhere. Automatic updates and backups.

+ Lower costs, no maintenance- Internet dependency

On-Premise Solution

Software installed on your servers. Full control over data. Requires IT management and maintenance.

+ Full control over data- Higher operating costs

What to Watch Out For

Avoid these common mistakes when selecting software:

!Don't decide based on price alone - the cheapest solution often means hidden costs or limited features
!Don't choose software without trying it - always use trial version or demo
!Don't undersize the solution - software should grow with your organization
!Don't forget training - even the best software is useless if users don't know how to use it
!Don't buy software without support - problems can occur anytime and quick help is crucial

How to Proceed with Selection

We recommend proceeding systematically and not underestimating any step of the selection process:

Software Selection Checklist:

☐Write down your requirements and priorities
☐Create a list of potential vendors
☐Compare 2-3 solutions against criteria above
☐Use trial versions or demos
☐Verify references from similar organizations
☐Find out support and update conditions
☐Compare total cost of ownership (TCO) for 3-5 years
☐Involve key users in decision-making

How Asset Manager Meets the Criteria

Asset Manager was designed to meet all 10 criteria for modern asset management software:

QR Codes and Mobile Scanning

Generate QR labels, print on adhesive paper, scan with mobile without app installation.

Automatic Depreciation

Tax and accounting depreciation according to legislation. Automatic calculation and overviews.

Cloud Solution

Access from anywhere, automatic backups, no installation. Data in secure datacenter.

Excel Import

Import wizard helps you transfer data from existing spreadsheets without losing information.

Local Support

Local helpdesk, fast response, help with setup and data import.

Flexible Pricing

Monthly subscription without long-term commitments. Starting from $10 per month.

Frequently Asked Questions

How much does asset management software cost?

Prices range from tens to hundreds of dollars monthly depending on features and user count. For small organizations, Asset Manager starts at $10 monthly. It's important to compare total cost of ownership (TCO) including training, support, and updates.

Is cloud or local solution better?

For most organizations, cloud is more advantageous - lower operating costs, automatic updates and backups, access from anywhere. Local solution may be suitable for organizations with specific security requirements or without reliable internet connection.

How long does implementation take?

With cloud solutions, you can start using software immediately after registration. Importing existing data and training key users usually takes 1-2 weeks. Full deployment in larger organizations may take 1-2 months.

Can I try the software before buying?

Yes, most vendors offer free trial versions. Asset Manager can be tried for 14 days without obligation. We recommend trying 2-3 solutions and comparing them on real data.

What if I need help with implementation?

Quality vendor offers implementation support - help with data import, asset structure setup and user training. Asset Manager provides complete support including help with Excel migration.

Conclusion

Choosing asset management software is an investment in your organization's future. Take time for thorough selection, use trial versions and involve key users in decision-making. The right software will save you time and money for years ahead. Asset Manager meets all 10 criteria and you can try it for free.

Try Asset Manager

See for yourself that Asset Manager meets all your criteria. 14 days free, no obligation, full functionality.

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