Main Features of IT Asset Management Software 

When you want to choose the best IT asset management software, you should look at a few basic features. These features help you manage your devices, tools, and all IT items properly. Here are three of the most important features:

Notifications

It is useful to store important information, but it’s even more helpful when the system sends alerts or notifications. These alerts help you make quick decisions at the right time.

Asset Tracking

Your team should be able to track every IT asset from the day it arrives to the day it is removed or disposed of. A complete overview of all assets makes management much easier.

Real-Time Information

The software should always show the latest updates. Having fresh, real-time information helps you understand what’s happening and allows you to see the history of changes.

Benefits of Using IT Asset Management Software

Before choosing software, many businesses check if the benefits are worth the cost. Here are the main advantages you get when using IT asset management software:

Get a Complete View of All Your IT Assets

This is the main goal. You don’t just want to see a few details — you want a full understanding of every asset. The software lets you combine information, manage inventory easily, and create accurate reports whenever you need them.

Avoid Unnecessary Purchases

Poor asset management causes two problems:

• Ordering too late

• Ordering too early

When the system tracks everything clearly, you only buy new items when you really need them. This saves money over time, even if the savings seem small at first.

Keep an Updated Asset Database

A good system always maintains a complete and updated list of all your assets.
It should show:

• The status of each item

• Important notes

• Search options

• Exportable reports and dashboards

This makes it easy to share information with your team or upper management whenever they ask for it.

Easy Categorization

Large companies have many different items to manage. A good system helps you group everything into categories. This makes the inventory easier to understand and manage in smaller sections.

Better and Faster Audit Process

IT asset audits are often stressful because of missing or wrong information.
But with proper software:

• All data stays accurate

• You can find information quickly

• Audit requirements become easy to handle

This makes the entire audit process simple and stress-free.

Who Should Use IT Asset Management Software?

Any company that uses computers, devices, or IT tools can benefit from tracking their assets. But not every business needs a full software system for this.

Small businesses usually don’t need IT asset management software (unless they are a Managed IT Service Provider).
But medium-sized companies and large enterprises should strongly consider using one.

Managed IT Service Providers (MSPs)

A Managed IT Service Provider can be a small or big business. Their job is to give IT services to other companies.

Sometimes they also manage the client’s IT assets.
If they do, using IT asset management software is very helpful and highly recommended.

Medium-Sized Businesses

Medium-sized companies have many teams that depend on IT tools to do their daily work.

Managing all devices, software, and licenses manually is very hard.
So, using IT asset management software helps the IT team save time and work more easily.
It also lets them focus on more important tasks.

Enterprises (Large Companies)

Large companies have hundreds or thousands of assets.
Without proper asset management:

• They spend more money than needed

• They lose track of devices

• They don’t know the condition of their equipment

So, it is very important for enterprises to invest in a strong and reliable IT asset management system.
This improves efficiency, saves money, and keeps everything organized.

How Much Does IT Asset Management Software Cost?

The price is usually subscription-based. Most systems follow 3 pricing models:

1. Tiered Pricing

• Starts from around $25 per managed user per month

• More features = higher price

2. Pay Per User

• Cost can be $9 to $99 per user per month

3. Pay Per Node

• Could be as low as $2 per node

• Or several thousand dollars for unlimited nodes

Note: Enterprise-level pricing is often different.
You usually need to contact the company to get a custom quote based on your needs.

What to Look for When Choosing IT Asset Management (ITAM) Software

Choosing the right IT Asset Management (ITAM) software is important for keeping your devices, licenses, and digital tools organized. A good ITAM tool helps you track everything, reduce manual work, stay compliant, and make smarter decisions about your technology.

In this guide, we will explain the main factors you should consider when choosing ITAM software — in clear and simple words.

1. What Types of Assets Do You Need to Track?

The first thing to think about is which assets you want the software to manage. Different tools track different things, so make sure the software supports all the assets you use.

Common assets include:

• Computers, laptops, servers, and network devices

• Virtual machines and containers

• Cloud resources (AWS, Azure, Google Cloud)

• SaaS apps (Google Workspace, Microsoft 365, Slack, etc.)

• Software licenses, warranties, and contracts

Pro Tip:
Check how the tool discovers assets.
Some use agents, some scan the network, and some connect directly to cloud/SaaS accounts.
The more accurate the discovery, the better your data will be.

2. How Much Automation Do You Need?

Automation is one of the biggest benefits of ITAM software.
Think about how many tasks you want the tool to handle automatically.

Helpful automation features include:

• Automatic asset discovery on a schedule

• Auto-removal or reclaiming of unused licenses

• Automatic ticket creation when something is wrong

• Automatic updates to asset records during the lifecycle

More automation means less manual work, fewer mistakes, and a smoother workflow for your IT team.

3. Reporting, Analytics, and Compliance

Good reports and analytics help you understand your IT environment, reduce costs, and plan for the future.

Look for ITAM software that offers:

• Easy-to-read dashboards

• Customizable reports

• Trend analysis (spending, asset aging, renewals, usage)

• Renewal reminders for contracts and licenses

If your company faces audits, you will also need:

• Audit logs that cannot be edited

• License compliance reports

• Evidence export for auditors

• Custom compliance rules

These features make audits easier and help you stay compliant with company policies.

4. Integrations, Scalability, Security, and Ease of Use

Your ITAM tool should work smoothly with the tools you already use, such as:

• ITSM platforms (ServiceNow, Jira Service Management)

• CMDB systems

• Cloud providers (AWS, Azure, Google Cloud)

• Identity systems (Azure AD, Okta, etc.)

• Finance and procurement systems

For larger companies, also check:

• Role-based access control (RBAC)

• Data encryption

• Single Sign-On (SSO)

• Data retention policies

A secure and compliant tool is essential for protecting your organization.

Also consider:

• How easy it is to onboard new users

• The quality of customer support

• Training materials

• The software’s roadmap (future updates and features)

These will help you choose software that grows with your business and remains easy to manage.

Final Thoughts

Choosing the right IT asset management software becomes much easier when you focus on the most important factors:
asset coverage, automation, reporting power, integrations, security, and ease of use.

A well-chosen ITAM tool can save time, reduce costs, prevent compliance issues, and give you a complete view of your entire IT environment.