12 Best IT Asset Management Tools for 2024

The IT asset management (ITAM) software market is expected to reach USD 12.14 billion by 2023,  growing at a steady CAGR of 8%, as per recent research. The research explains how complex IT infrastructures (with a mix of software and hardware assets) is a key driver to the market growth.

Organizations have quickly realized the importance of optimizing assets during their entire lifecycle to improve their productivity while controlling associated costs. Thankfully, recent advancements in AI are simplifying several aspects of IT asset management.

Imagine AI automatically reminding you when software licenses are about to expire, or flagging underutilized assets that could be redeployed. With an AI-powered ITAM tool, you can automate repetitive monitoring and tracking activities, saving tremendous efforts and costs for your organization.

In this guide, we’ll look at the top tools that use AI to help you manage assets effectively in 2024 and beyond. ‍

1. Atomicwork

Atomicwork offers comprehensive asset management capabilities for IT teams to track and manage assets’ lifecycle end-to-end–from purchase to disposal.

Key features:

• Set up your own asset attributes and record detailed hardware and software asset data
• Visualize asset relationships with users, requests, and incidents to narrow down asset impact easily
• Automate asset lifecycle workflows from procurement to retirement
• Integrate easily with Microsoft Intune to import asset data and own one service record
• Analyze comprehensive reports on assets to make informed decisions on asset planning

Why Atomicwork?

Atomicwork is an all-in-one, modern ITSM solution that organizations can use to deliver exceptional employee experiences. Built with AI from the ground up, Atomicwork has automated asset, incident, request, and change management capabilities, making it a complete ITSM platform for modern enterprises.

Being a centralized platform, IT teams can easily manage asset relationships, linking requests and incidents to impacted assets. Atomicwork can also be synced with leading device management like Intune, Kandji, and JamF.

2. IBM Maximo

IBM Maximo is a leading enterprise asset management solution known for its extensive functionality and scalability. Their robust AI-based monitoring helps fix problems before they even start by using condition-based maintenance.

Key features:

• Businesses have the flexibility to choose and control their license capacity
• One platform provides a comprehensive view of assets across the enterprise
• Maximo is highly flexible and can be deployed on any cloud

3. ServiceNow

ServiceNow's Asset Management system provides end-to-end visibility into assets, helping organizations optimize asset usage and reduce costs. They also allow employees to use their mobile devices to request assets, see assigned assets, and report incidents—anytime.

Key features:

• Manage assets and access asset information on the go through mobile apps, improving field service efficiency
• Real-time insights into asset performance, utilization trends, and maintenance needs
• Manage a wide range of assets including hardware, software, facilities, and consumables throughout their lifecycle‍

4. SolarWinds

SolarWinds Asset Management offers automated asset discovery, inventory tracking, and software license management.

Key features:

• Increase efficiency by integrating business processes across assets, enterprise, and networks
• Customizable asset details forms allow businesses to track vital details like purchase orders, warranty information, configuration details, and assigned users
• Integration with other SolarWinds IT management tools for a more unified view

5. Asset Panda

Asset Panda is a cloud-based asset tracking and management tool that different industries can use to maintain several types of digital assets. They have extensive integrations and logging features that IT teams can use for efficient asset management.

Key features:

• Customizable asset management workflows
• Audit trails to view asset history
• Automated notifications for better asset planning

6. ManageEngine Asset Explorer

You can manage IT Assets, non-IT assets, asset components, software and groups with Manage Engine’s Asset Explorer. They also include software license compliance and software forecasting in their product offerings.

Key features:

• Track software compliance with detailed flash charts
• Monitor asset relationships with Configuration Management Database (CMDB)
• Asset discovery capabilities via network and individual asset scans

7. Flexera

Flexera FlexNet Manager Suite provides software asset management solutions, helping organizations optimize software license usage and compliance. Businesses can also manage software licensing through automation to reduce manual tasks and enhance operational efficiency.

Key features:

• Identify unused, underused, or non-compliant software licenses to optimize licensing costs and ensure adherence to vendor agreements
• Gain insights into your SaaS subscriptions, identify potential overspending, and optimize SaaS usage across your organization
• Manage and optimize cloud resources like instances and storage to ensure cost-effectiveness and avoid cloud sprawl

8. Jira Service Management

Jira Service Management offers IT asset management capabilities, including asset tracking, inventory management, and procurement workflows.

Key features:

• Create a central repository to track and manage all your assets, including hardware, software, facilities, and more
• Link assets to related issues in Jira, such as service requests, incidents, or change requests
• Organize assets in a hierarchical structure based on location, department, function, or any other relevant criteria for easier management

9. SysAid

SysAid is an IT service management solution that includes asset management features for tracking and managing IT assets.

Key features:

• Automatically includes relevant asset information such as screenshots or videos for swift issue resolution
• Allow service desk agents to securely resolve end-user issues from anywhere
• Use built-in discovery capabilities to scan IT assets and attributes across the network, with automatic updates to maintain data accuracy

10. Ivanti

Ivanti Neurons consolidates asset data to strategically optimize and configure assets across their lifecycle. It helps to give a full view of hardware, server, client, virtual, cloud, and software assets from purchase to disposal.

Key features

• Real-time discovery and normalization to populate asset repository
• Synced with service management CMDB
• Custom reporting on asset usage
• Barcode scanning and vendor management capabilities

11. BMC Helix Discovery

BMC Helix Discovery gives a comprehensive overview of both cloud and on-premise digital assets to help organizations minimize risk. The platform also delivers AIOps insights to give contextual asset performance data.

Key features:

• Uses AI to manage complex asset demands
• Regulatory and security compliance can be monitored for different assets
• End-to-end project asset lifecycle management

12. NinjaOne (previously NinjaRMM)

NinjaRMM is a remote monitoring and management platform that includes asset management capabilities for IT assets. Every asset can be grouped and searched automatically using data points collected within the system, ensuring swift and effortless asset retrieval and management actions.

Key features

• Automate IT asset discovery and management
• Monitor and manage software usage with detailed reports
• Easily group, find, and manage assets

How to choose the right asset management tool?

When selecting an asset management tool for your organization, consider the following factors:

1. Relevancy: Understand if the tool is right for your particular business and industry. The tool should align well with your organization’s needs, compliance standards, and regulations.

2. Scalability: Your business is likely to grow more with time. Hence, it is advisable to get a tool that can accommodate your organization's future growth; be it with the number of assets, different software and hardware, more geographies, and so on.

3. Integration: All great B2B tools have great integrations. When searching for an IT asset management tool, look for compatibility. Select a tool that can be integrated easily with your existing systems and software.

4. Security: It is better to be safe than sorry. When searching for the tool, prioritize those that offer robust security measures. Learn in detail about their licenses, updates, data protection policies, and regulations related to third-party sharing.  

Selecting the best asset management tool for your organization requires careful consideration of your specific requirements, budget, and long-term goals. More than the number of features, look for relevancy. A good tool fits like a glove to your business needs.

Want to learn if Atomicwork is the right ITAM tool for your organization? Get in touch with us and we will be happy to help you figure it out.