Over the past decade, businesses have been increasingly reliant on their assets to boost efficiency and productivity. While large enterprises have long been using sophisticated tools for asset management, the scenario is changing for startups as well. Thanks to a plethora of free asset management software, startups can now efficiently track and manage their assets without burning a hole in their budget.
In this article, we'll delve into the world of free asset management, exploring its business models, its potential advantages, and some of the top players in the market.
What is Asset Management?
Before we delve into free asset management software, let's understand what asset management is. Asset management is a systematic approach to the governance and realization of value from things that a group or entity is responsible for, over their whole life cycles. It may apply both to tangible assets (physical objects such as buildings or equipment) and to intangible assets (such as human capital, intellectual property, goodwill and/or financial assets).
Asset management is the process of developing, operating, maintaining, upgrading, and disposing of assets in the most cost-effective manner (including all costs, risks and performance attributes). The term is commonly used in the financial sector to describe people and companies who manage investments on behalf of others.
In the context of this article, we are focusing on IT asset management, a subset of asset management that specifically deals with IT assets such as hardware, software and network resources.
Business Models of Free Asset Management Software
There are three main business models that free asset management software typically adopt:
- Freemium: In this model, the basic version of the software is free, but advanced features and functionalities are locked behind a paywall. Users can start with the free version and upgrade to the paid version as their needs grow. ZORP, which we will discuss later, is an example of a freemium model.
- Free Trial: Some software offer their complete package free for a limited period (usually 14 to 30 days), post which users have to pay to continue using the service. This gives users a chance to test out the software before committing to a paid plan.
- Open Source: Open source software is completely free to use and modify. It relies on a community of developers to maintain and improve the software. However, it often lacks the kind of customer support and regular updates that come with paid software.
Now that we have a good understanding of what asset management is and the business models of free asset management software, let's take a look at the top 10 free asset management software available in the market today.
Top 10 Free Asset Management Software
The first on our list is ZORP, a freemium model software that is an excellent choice for startups. It offers a user-friendly interface and powerful features that make asset management a breeze. ZORP allows users to start with limited effort and upgrade as their needs grow.
2. AssetTiger: Best for Small Businesses
AssetTiger offers a completely free service that tracks fixed assets. It is an excellent choice for small businesses that need to manage up to 250 assets.
3. Samsara: Robust Features
Samsara offers a robust feature-set and is widely considered one of the best asset tracking tools in the market. While it isn't completely free, its value for money is highly rated.
4. FreshService: Best for IT Businesses
FreshService is our top pick for IT businesses. It offers more than just a barcode system, allowing users to set up a company knowledge base, internal workspaces, and a ticket support system.
5. Snipe-IT: Best for Customization
Snipe-IT is an open source platform that is great for users comfortable with adding third-party integrations. It is highly secure, receives regular updates, and offers a range of features.
6. Spiceworks: Best for Document Tracking
Spiceworks is an ad-supported, free software that allows you to inventory your hardware, manage your network and licenses, and easily generate reports on your assets.
7. GLPI: Best for Simple Open-Source Tracking
GLPI is another open-source software that allows for manual data entry of assets. It supports a wide range of information and comes with community support as well as a detailed FAQ page.
8. Asset Panda: Best for Office Equipment
Asset Panda specializes in tracking low-value assets such as office equipment, important documents, or artworks. It provides comprehensive tracking and management features.
9. Zoho: Best for Integration with Other Apps
Zoho offers a comprehensive IT Asset Tracker app within its Zoho Creator platform. It is a great choice for businesses that want to integrate asset tracking with other business functions.
10. SysAid: Best for On-Premise Hosting
SysAid offers comprehensive IT asset tracking features, including license management, customizable alerts, and reporting and analytics. It is a good choice for businesses that prefer on-premise hosting.
While these are some of the top free asset management software, it's crucial to choose one that fits your specific needs and budget. Remember, while free software can provide immediate cost savings, it may lack advanced features and support that paid software offers. Always consider your long-term needs and growth when choosing an asset management software.
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