What to Look for in Asset Management Software

Personal Finance
an individual types on a keyboard while using asset management software

Knowing where your business is going regarding assets is important, and you can manage your resources by using asset management software. These programs make it easy to maintain accurate records, but they’re not all made the same. Here are some features your asset management system should have.

Auditing Options

The primary use of asset management software should be to maintain accurate records of your properties and resources. Any program you purchase should have the ability to audit and change quantities of your items or the location at which they are stored. Some programs can also inform you of status updates and create an audit timeframe. Occasionally, businesses don’t handle their own audits, and this is when your software should also have a “blind audit” feature, which directly limits the amount of information the users can see while performing an audit.

Asset Tags

Asset tags are often known as bar code labels. The easiest way to manage assets, especially in bulk, is to use asset tags to scan and record products for your business. Any program you consider should have a built-in system to handle bar code labels so you can decrease the amount of work you spend recording and more time managing.

Cloud or Web-Based Storage

Storing information on your server can help you be sure that nothing is leaked due to a security breach. However, this limits your ability to use your asset management software while on the go. Overall, having cloud-based asset management technology allows you to access your business information no matter where you are. Plus, if a server crashes, you will not completely lose your data.

Quick Find

Unless you plan to memorize every asset tag or barcode label, a quick find option is necessary to locate information. Some asset programs let you find a product based on asset, vendor, customer, or employee.


Asset management technology varies based on the developer of the program, which can make it very hard for someone to learn how to use the new software. Your new asset program should have a training portion that teaches anyone how to use it to the fullest capabilities. All of these features should be easy to use. Proper employee training should help anyone in your company learn how to use the technology without confusion.

Securities Access

Not all employees have the same level of security clearance, but they may all use the asset management system. Users should have unique permissions that allow them to access the aspects they’ll use without seeing other information stored in the program. You can keep sensitive information private by choosing a program that has outlines to give limited permission to employees.

Technical Support

Even the best asset management system could shut down. Finding a program with quality technical support can reduce the amount of time you spend trying to get your system back up and running. Getting support via email may not be the most timely response you want when there’s an error that’s preventing you from running the program. Instead, try to find technical support offered by phone.

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