An asset management software provides many different benefits. First of all, it allows you to track and manage all assets and items that belong to your company, but that's only the core functionality of such a system. A good asset management system typically comes with many additional functionalities and features.

For example, it will allow you to manage your software licenses, it will inform you when a license becomes outdated and needs to be renewed. Such a system will also track service and maintenance schedules for all your machines, tools, company vehicles and other assets and the software will send out a warning whenever maintenance or service is due for one of your company assets.

But of course, there are big differences between different asset management systems. Some are very easy to use, others are extremely complicated. Some of these software tools are extremely feature rich and they provide any kind of functionality one could imagine, whereas other tools provide only a bare minimum of functionality.

So, let's have a quick look at the kind of features and functionalities any asset management software should provide:

• The system should be capable of tracking any kind of company asset, like: machines, tools, vehicles, software, hardware... Certain systems are specialized in tracking IT equipment, but this may not be sufficient for your company.

• There must be a way to attach other documents to your tracking and monitoring plans, such as pdf manuals, images, PowerPoint presentations...

• The system should be capable of reading and storing the barcodes of tools and items that should be managed.

• Ideally, you should be able to define various user and access rights for your staff.

• It is also very important that the software provides detailed reporting capabilities.

• Another useful function - especially when you have a complex IT environment - is the capability to detect and track your SNMP devices and to issue warnings and alerts when one of these devices goes down.

• Your asset management system should also be flexible enough to integrate with your current IT environment, with your purchasing system, your order system and other important systems.

• As already mentioned, a good asset management tool must be able to monitor and report maintenance and service dates.

Of course, there may be additional features that may be crucial for your company environment, but I think the functionalities listed above provide a set of core features that should be provided by any asset management software tool.