The 9 Best IT Inventory Management Software of 2025

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Choosing an IT Inventory Management software — whether you're selecting one for the first time or switching to a new tool — requires much investigation. And with so many options in the market, it's easy to get overwhelmed. 

The good news? You are not alone. According to Gartner, 46% of decision-makers still rely on manual methods for their Inventory Management needs, and 26% use spreadsheets like Excel to manage inventory.  

With years of experience in the field, we understand what businesses need when choosing the right tool. So, we put together our rundown of the best Inventory Management software on the market and the key features to look for—helping you make an informed choice with confidence. 

Table of contents

Top 9 IT Inventory Management software options

We’re confident there’s a tool that fits your budget and meets the needs of your team and organization. Here are the nine tools we selected to help you start your research on the right foot:

1. InvGate Asset Management

InvGate Asset Management: 5-Minute Demo
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InvGate Asset Management is a comprehensive IT Asset Management (ITAM) tool with robust Inventory Management capabilities. With our software you can build a complete inventory in less than 24 hours from scratch using multiple sources, manage and configure your IT (and non-IT) assets and generate custom reports tailored to your needs. But it is so much more than that.

With its no-code approach and intuitive interface, the user experience is seamless from the start. Plus, its automation capabilities and AI-Hub features simplify processes, helping you optimize resources and save time. 

Why choose InvGate Asset Management? 

Besides its no-code approach and intuitive interface, InvGate Asset Management enables you to set up and manage IT assets without technical complexity. Its flexible deployment options, available both on-premise and in the cloud, ensure businesses can choose the best fit for their infrastructure.

Additionally, the platform helps optimize costs by providing better visibility and control over assets, reducing waste and inefficiencies. 

Key features of InvGate Asset Management

InvGate Asset Management includes a set of features to streamline Inventory Management. Here are some of the most important ones:

  • Unified inventory creation – Easily import your IT and non-IT assets via CSV or XLS upload, network discovery, cloud discovery, agent installation, API integrations, or manual entry. Our most starter plan covers up to 500 nodes (devices).  
  • Automated data normalization – The system automatically standardizes asset details (manufacturers, software names, categories, etc.), ensuring consistency.
  • Complete IT asset visibility – Once your inventory is set up and normalized, you’ll have a real-time, centralized view of your IT (and non-IT) assets in one place.
  • Full IT Asset Lifecycle Management – IT Asset Management isn’t just about inventory; it covers the entire asset lifecycle, from procurement to disposal—and InvGate Asset Management has you covered at every stage.
  • Automated asset depreciation – Set custom depreciation rules based on asset type and manufacturer, choose from different depreciation methods, and define lifespan and depreciation periods with precision.
  • Customizable reports & dashboards – Start with pre-designed dashboards and create custom views based on your organization’s needs, highlighting key metrics and KPIs.
  • Contract & Warranty Management – Keep track of costs, durations, vendors, and licenses, automatically linking them to corresponding assets. You can also set up tags and automations to prevent missed expirations and ensure claims are processed on time.

InvGate Asset Management reviews ratings

With an average rating of 4.5 out of 5 stars on Gartner Peer Insights, InvGate Asset Management stands out as a top favorite. One of the latest reviews highlights the user experience with the tool:

“My overall experience with InvGate Asset Management is awesome. Its maintenance scheduling feature has reduced downtime, so we can easily schedule in advance. Its user interface is good, intuitive and easy to use. Its implementation process is smooth and we can track and manage our asset disposal easily.”

Gartner Peer Insights review

InvGate Asset Management pros and cons

Users praise InvGate Asset Management for its intuitive interface, strong automation features, and flexible deployment options. The smooth implementation process and customization capabilities make it easy to tailor workflows, while its agent-based and agentless tracking enhances IT visibility. Many also highlight reliable customer support and efficient Asset Management tools.

However, some users note that API documentation could be improved for smoother integrations. Additionally, learning specific search criteria may require some adjustment for new users.

InvGate Asset Management pricing

InvGate Asset Management offers flexible pricing plans based on the number of nodes you need to track. But what exactly is a node? In simple terms, a node is any device (such as a computer, server, network switch, or cloud instance) that can be monitored, managed, and tracked. 

Whether you need to manage a small set of assets or scale up to thousands of nodes, there’s a plan that fits your requirements:

  • Starter Plan – Ideal for smaller organizations, this plan covers up to 500 nodes. Pricing: $0.21 per node per month ($1,250 billed annually).
  • Pro Plan (most popular) – Designed for mid-sized and growing businesses, this plan supports 501 to 10,000 nodes and adds advanced capabilities. Pricing: $0.38 per node per month, billed annually.
  • Enterprise Plan – Built for large enterprises with custom node requirements. Pricing: Custom—contact sales for a tailored quote.

Not sure which plan fits best? Start with our 30-day free trial (no credit card required) and explore InvGate Asset Management firsthand!

2. BMC Track-It!

Ejemplo de interfaz de BMC Helix.

BMC Track-It!, as Larry David would say, is "Pretty, pretty, pretty good." While this software is mostly about simplicity and ease of use, it doesn't mean it's short on features, either. 

Fair disclaimer: BMC Track-It! presents itself as a help desk with Endpoint Management. It is in this latter tool, called Track-It! Client Management Software, where the features related to IT Asset Management can be found.

BMC Tack-It! key features

BMC Track-It! allows organizations to inventory and access IT assets remotely. Its automated asset discovery function detects new devices on the network, while the reporting module helps manage connected assets efficiently. Additionally, it supports automated software and patch deployment, integrates seamlessly with IT Service Management (ITSM) tools, and automates repetitive tasks to improve efficiency.

The software can be implemented on-premise or in the cloud, offering flexibility for different IT environments. Its integration capabilities extend to solutions like Remedy Smart IT, Remedyforce, BMC CMDB, and FootPrints, along with a REST API for connecting with other tools. 

BMC Track-It reviews and comments 

BMC Track-It! has received mixed reviews across different platforms. It has 4.0 of 5 stars on Gartner Peer Insights and 3.7 of 5 stars on G2. Many users appreciate its affordability, ease of use, and ITSM capabilities, but some find its interface outdated, reporting tools clunky, and customization limited. One reviewer shared their experience:

“Having used several versions of Track-It! over the years, I was pleasantly surprised to learn about all the features I wasn’t using. Some functions are still a little clunky (like exporting or custom reports), but overall, we are pleased with it and continue to expand our use.”

Gartner Peer Insights, Review

BMC Track-It! pros

  • Easy to use – Users find it simple and intuitive, making it easy to navigate.
  • Cost-effective – A budget-friendly alternative compared to high-end ITSM tools.
  • Good for ticketing & Asset Management – Works well for tracking tickets and managing assets efficiently.

BMC Track-It! cons

  • Clunky features – Some users find certain functions slow or unintuitive, particularly exporting data and custom reports.
  • Limited customization – While functional, Track-It! lacks flexibility in reporting and automation.
  • Outdated user interface – The UI feels outdated compared to more modern ITSM solutions.

BMC Track-It! pricing

The pricing models are not disclosed. The tool offers a free trial, but not a free version.

3. SolarWinds Service Desk

interfaz-de-solarwinds

Solar Winds Service Desk is an IT Service Management tool designed to be a complete platform that combines ITAM and IT Service Management.

While it provides various benefits for Inventory Management, its user interface can feel cluttered and overwhelming, making navigation and efficient usage more challenging.

Solar Winds Service Desk key features

Solar Winds Service Desk includes functionalities for Inventory Management, allowing for detailed tracking from acquisition to retirement. Key features include:

  • Integrated Inventory Management – Manage assets, track licenses, and link assets to tickets and incidents for better issue resolution.
  • Real-time asset discovery & monitoring – Gain visibility into asset status and usage with built-in discovery and tracking tools.
  • Centralized documentation & cost tracking – Log changes, record costs, and consolidate data into visual dashboards to support renewal, upgrade, and procurement planning.

Solar Winds Service Desk comments and ratings

SolarWinds Service Desk has received a 4.6 out of 5 stars and recent users praise its user-friendly interface, strong network monitoring capabilities, and customizable ITSM features. However, some reviews indicate that it may be too simple for larger enterprises. 

“A good entry-level ITSM platform, but too simple for what our organization needed. Not the best for larger enterprises.”

Gartner Peer Insights, Review

Pros of SolarWinds Service Desk 

  • User-friendly interface – Designed for both IT teams and end users, making workflows more efficient.
  • Strong network & ITOM capabilities – Provides real-time network monitoring and end-to-end visibility, including wireless devices.
  • Customizable & efficient ITSM – Allows the creation of custom portals, making IT Service Management simpler and more tailored.

Cons of SolarWinds Service Desk

  • Limited Feedback on large-scale use – Most reviews highlight benefits for SMBs, with fewer insights into enterprise-level scalability.

Solar Winds Service Desk pricing

The platform offers a free trial but does not have a free version. Pricing for Asset Management features is available upon request.

4. ManageEngine AssetExplorer 

Ejemplo de interfaz de ManageEngine Asset Explorer.

ManageEngine Asset Explorer is also worth an honorable mention. It is among the most popular plug-and-play asset explorers out there. It’s a web-based tool that enables organizations to monitor and manage hardware and software assets throughout their lifecycle. 

It has some Inventory Management features, like agent-based and agentless automated discovery. This enables the users to keep the inventory of devices and applications within the corporate network up to date. Additionally, it includes Software License Management capabilities, alerts for unauthorized installations, and compliance enforcement to ensure regulatory adherence.  

ManageEngine AssetExplorer key features

ManageEngine AssetExplorer enables discovery, identification, and monitoring of all IT assets from a centralized web console. Key functionalities include:

  • IT Asset Management & monitoring – Track and manage all IT assets efficiently.
  • Procurement & Contract Management – Administer purchase orders, contracts, and warranties, providing insights into costs and maintenance schedules.
  • Software License Compliance – Monitor software usage, detect unauthorized applications, and generate alerts for non-compliance.
  • Integrated CMDB – Link assets to other IT infrastructure components for better visibility and management.
  • Auditing & Reporting Tools – Generate detailed reports and audits, offering a clear view of asset health to optimize lifecycle management and improve decision-making. 

ManageEngine reviews ratings

ManageEngine AssetExplorer holds a 4.3 out of 5-star rating in Gartner Peer Insights. Users appreciate its automation, real-time asset tracking, and comprehensive management features, but some note that manual asset maintenance is still needed.

ManageEngine AssetExplorer pros

With a strong reputation in IT Management, ManageEngine is a trusted choice for businesses looking for affordable ITAM solutions.

It offers automation features that reduce manual workload, scanning for accurate tracking, and comprehensive lifecycle and purchase management to improve IT governance. Additionally, its lower upfront costs make it a cost-effective option for smaller organizations with tight budgets.

ManageEngine AssetExplorer cons

While ManageEngine offers a budget-friendly entry point, many users find its hidden costs and paid add-ons frustrating, as essential features often require additional purchases.

Additionally, customer support is a common pain point, with reports of slow response times and lackluster assistance, making issue resolution more challenging.

ManageEngine AssetExplorer pricing

ManageEngine AssetExplorer is available in three versions:

  • Free: Provides full functionality at no cost but is limited to 25 nodes.
  • Trial: A fully functional version available for 30 days, with a limit of 250 nodes.
  • Professional: A paid version with full functionality and node management based on the acquired license.

For specific pricing details on the Professional version, you must check their official website.

5. Lansweeper

interfaz-de-lansweeper

Lansweeper is also a great and popular option, with Inventory Management capabilities that can provide more than just basic inventory details. Lansweeper enables organizations to identify, monitor, and centralize device information across enterprise networks.

Its automated scanning covers IT, OT, IoT, and cloud assets, providing a comprehensive view of an organization's technology environment.

Lansweeper benefits 

Lansweeper enhances detailed IT asset visibility by continuously and automatically discovering network-connected devices. It has many third-party integrations and supports IT Asset Lifecycle Management, providing insights into asset status, usage, and end-of-life dates for better planning.

The platform is available on-premise and in the cloud, offering deployment flexibility. It also strengthens IT security by detecting unmanaged assets and flagging vulnerabilities, while its ITSM and CMDB integrations improve incident and resource management.

Lansweeper features

Lansweeper supports active and passive scanning, using agent-based and agentless methods to detect devices across the network. It provides detailed asset insights, including configuration, dependencies, and usage patterns, helping IT teams optimize resources.

The platform also includes audit and compliance management tools to ensure regulatory adherence, along with cost analysis features to reduce unnecessary expenses and improve IT budget allocation.

Lansweeper reviews ratings

Lansweeper holds a 4.6 out of 5-star rating on Gartner Peer Insights, making it a highly regarded IT Asset Management solution. Users praise its affordability, ease of use, and strong automation capabilities, particularly its auto-discovery and reporting features.

“Great tool for managing inventory, with a good UI and the ability to deploy application patches across multiple systems.”

Gartner Peer Insights, Reviews

Lansweeper pros

  • Affordable & reliable – Cost-effective IT Asset Management tool that works well for long-term use.
  • Powerful auto-discovery & reporting – Automates asset tracking and provides detailed insights into IT infrastructure.
  • User-friendly & automation capabilities – Easy to use with minimal technical knowledge required, plus support for automation tasks like patching.

Lansweeper cons

  • Limited feedback on drawbacks – Recent reviews do not highlight major cons, making it difficult to assess potential downsides.

Lansweeper pricing

Finding free IT inventory software can be challenging, but not impossible. Lansweeper provides a free version with limited features and paid options with advanced capabilities. 

Within the paid options, it offers three pricing plans (starter, pro, and enterprise), starting at $219 per month. The most basic plan has “everything you need to start managing your technology estate.”

6. Snipe-IT

Ejemplo de interfaz de Snipe-IT,

Another option is Snipe-IT.  It’s an open-source IT Asset Management tool for Inventory Management that can help you keep track of licenses, accessories, consumables, and more. 

It can be deployed on Linux, Windows, or Mac servers, and it also offers a cloud-based version. Built with security in mind, Snipe-IT receives frequent updates that introduce new features and bug fixes.

Benefits of Snipe-IT

Snipe-IT provides a scalable solution with both on-premise and cloud deployment options. Its web-based architecture allows access from any device and supports multiple languages.

The platform integrates with Slack for notifications and SAML for secure authentication. Additionally, its REST API enables custom automation, making it a flexible choice for businesses with specific IT asset tracking needs.

Features of Snipe-IT

Snipe-IT includes an admin dashboard that displays recent activity and asset status, allowing users to track devices, assigned users, and locations with a full audit history.

It also supports quick audits, QR code label generation, custom fields, barcode scanners, and automated alerts for warranties and licenses.

For License Management, Snipe-IT enables software registration and monitoring, with email alerts before expiration. The platform also features automatic notifications to inform users and administrators about returns, low inventory, and assignments.

Additionally, Snipe-IT integrates with Jira Service Management, allowing users to view and manage assets directly within support tickets.

Snipe-IT reviews ratings

 Users appreciate Snipe-IT for its ease of management, simple navigation, and extensive customization options. The platform allows businesses to add custom attributes, making it a flexible solution for IT Asset Management. However, some users note that the UI could be improved, along with more customization options for internal layouts and functions. 

“Easy to manage and handle. Simple navigation and lots of attributes can be added (custom). The UI can be improved, more custom edits on the functions intern layout.”

G2, Review

Snipe-IT pros and cons

Snipe-IT stands out for its strong Asset Management capabilities, offering a centralized platform that simplifies tracking and administration.

Users highlight its customizability, which allows them to tailor fields and attributes to their needs, as well as its ease of use and integrations with other tools.

On the downside, some users find notifications inefficient, as they lack flexibility and clarity. While the platform allows for customization, there are limitations in certain areas, preventing deeper modifications.

Additionally, the interface design could be improved, as some users find it outdated and less intuitive compared to other Asset Management solutions.

Snipe-IT pricing

Snipe-IT offers a free self-hosted version with unlimited users and assets. For those who prefer a cloud-hosted option, pricing plans include:

  • Basic Hosting – $399.99/year ($39.99/month)
  • Small Business Hosting – $999.99/year ($99.99/month)
  • Dedicated Hosting – $2,499.99/year ($249.99/month)

Paid plans offer additional features such as automatic backups, updates, SSL certificates, and enhanced technical support.

7. Asset Panda

Asset Panda is a cloud-based Asset Management software that allows you to keep track of all kinds of assets – from computers and furniture to tools and equipment. With a hardware-oriented approach, this option can easily be part of your benchmark if you're looking for basic IT functionalities.  

Benefits of Asset Panda

While Asset Panda is primarily focused on Hardware Asset Management, it stands out for its affordable pricing, making it a good choice for small-scale or budget-conscious teams.

Its Contract Management capabilities are also strong, which can be useful for organizations needing structured asset handling. So, for teams with minimal IT requirements, Asset Panda's simpler feature set may be easier to navigate, avoiding the complexity of more advanced ITAM solutions. 

Features of Asset Panda

Asset Panda includes a mobile app that allows users to update asset records from anywhere, conduct audits, and request repairs. Its built-in barcode scanning system simplifies HAM without requiring external scanners.

The platform also supports unlimited users with customizable permissions, ensuring controlled access and accountability. Additionally, its Contract Management capabilities, such as signature capture, lending, and return workflows, make it a strong option for organizations handling physical assets. 

However, it lacks some key features, like agent-based discovery, Software Asset Management (SAM) capabilities, and deeper IT Lifecycle Management, making it better suited for teams with minimal IT requirements.

Asset Panda reviews and comments 

Asset Panda holds a 4.3-star rating on Gartner Peer Insights, but it is listed under Barcode Software, rather than IT Asset Management or even Inventory Management.

Users praise its barcode scanning feature, ease of use, and automation capabilities, especially in tracking, reporting, and asset organization. Many have found it a strong alternative to spreadsheets, significantly reducing manual work.

However, some users mention that customization can be complex and time-consuming, making it more suitable for organizations with dedicated IT or DevOps teams.

“It makes asset tracking very simple. We can log new items to manage depreciation intuitively. Setting it up takes some time, but once it is running, the mobile app makes updates super easy.”

Gartner Peer Insights, Reviews

Asset Panda pros and cons

Users appreciate Asset Panda for its affordable pricing and strong barcode scanning system, which simplifies HAM across multiple locations.

Its cloud-based infrastructure enables real-time updates and remote access, while Contract Management features like signature capture and lending workflows add extra value.

However, customization can be challenging, requiring time and IT expertise. The platform lacks key ITAM features, such as agent-based discovery and SAM. Additionally, some users find the interface less intuitive, and notifications could be more efficient.

Asset Panda pricing

There are few free IT inventory software, and while Asset Panda does not offer a free version, it does provide a free trial. The company does not disclose pricing publicly, so businesses must request a custom quote. One thing is for sure: this is one of the cheapest tools in the market. 

8. ServiceNow IT Asset Management

Ejemplo de interfaz de ServiceNow Asset Management.

ServiceNow Asset Management is a enterprise-level IT Asset Management solution. It enables organizations to manage hardware, software and cloud resources within a single platform. Its unified approach enhances visibility and control over the entire asset lifecycle, from acquisition to retirement, helping to reduce costs and mitigate operational risks. 

Benefits of ServiceNow IT Asset Management

One of ServiceNow’s biggest strengths is its long-standing presence in the industry, making it a trusted ITAM solution.

On a technical level, the platform automates Asset Management and provides a comprehensive view of the asset lifecycle, allowing businesses to monitor asset status, location, and compliance.

With seamless integration capabilities, ServiceNow facilitates collaboration between IT, security, and operations teams, improving decision-making and resource allocation.

ServiceNow IT Asset Management key features

  • ServiceNow enables real-time tracking of hardware and software inventory, helping organizations manage open orders, set stock rules, and conduct audits. 

    Its workflow automation system reduces administrative workload and enhances operational efficiency. Additionally, the platform provides tools to identify aging or at-risk assets, ensuring proper disposal and minimizing security vulnerabilities.

ServiceNow IT Asset Management reviews ratings

ServiceNow IT Asset Management holds an impressive 4.5 out of 5-star rating on G2, making it one of the most trusted solutions in the industry. One reviewer shared: 

““Effective and reliable. Manages assets from acquisition, through deployment, maintenance, and eventual disposal or retirement. Tracks the status of assets in real-time and provides detailed information such as location, usage, and ownership. The ServiceNow mobile app enables employees to track and manage assets on the go, scan barcodes, and update asset records from their mobile devices. ServiceNow ITAM can be complex to implement and configure, particularly for organizations that do not have an in-house team with expertise in the platform.”

G2, Reviews

ServiceNow IT Asset Management pros and cons

ServiceNow IT Asset Management is praised for its strong Asset Management capabilities, offering detailed tracking, ease of use, and seamless integrations with other enterprise tools.

Many users also highlight its efficient implementation process, which simplifies asset lifecycle management and enhances real-time tracking.

However, some users find ServiceNow ITAM to be expensive, making it less accessible for smaller businesses. The learning curve can also be steep, especially for organizations without specialized in-house expertise.

Additionally, some reviewers report slow performance and occasional latency issues, which can impact efficiency in larger deployments.

ServiceNow IT Asset Management pricing

ServiceNow does not offer a free version, but it does provide a free trial. The company does not disclose pricing on its website. You can watch a free demo on their website.

9. SysAid Asset Management

Ejemplo de interfaz de SysAid.

To round out the list of software, SysAid offers a comprehensive solution for tracking and managing IT assets within your organization.

Its IT Asset Management solution is natively integrated into its Service Desk platform, allowing IT teams to view, monitor, and manage assets directly from tickets. This eliminates the need for separate tools and streamlines incident resolution.

SysAid benefits

Beyond its seamless integration with the Service Desk, SysAid automatically links assets to their incident history, making diagnostics and issue resolution more efficient.

It also includes proactive incident reduction tools, such as automated alerts and ticket generation for potential failures.

SysAid is available in both on-premise and cloud versions, offering flexibility for organizations to choose the deployment model that best fits their infrastructure.

Additionally, it enhances vendor and contract management, helping businesses reduce costs by identifying underutilized assets.

SysAid features

SysAid includes network discovery tools to identify and register IT assets, along with license and Patch Management capabilities to ensure software compliance and updates. It also integrates with CMDB, simplifying Configuration Management and asset relationships.

Key functionalities include proactive monitoring with custom alerts, automated updates and network scans, and remote control features for resolving issues without user intervention.

SysAid reviews ratings

SysAid IT Asset Management holds a 4.4 out of 5-star rating on Gartner Peer Insights, placing it in the ITSM category.

Users appreciate its affordability and strong customization options, making it a flexible ITSM tool for organizations of different sizes.

Reviewers highlight effective ticket management, workflow automation, and strong asset tracking capabilities, helping IT teams streamline incident resolution and resource allocation. A user shared: 

“SysAid is one of the most affordable and high-standard ITSM web applications, offering great flexibility and customization. It has helped us tailor the platform to our specific needs.”

Gartner Peer Insights, Review

SysAid pricing

SysAid does not publish fixed pricing, as costs vary depending on the features and number of assets to be managed. To receive a custom quote, businesses must contact the company directly via their website.

SysAid pros and cons

SysAid is recognized for its affordable pricing and high flexibility, allowing users to customize workflows and automate IT processes. It provides powerful ticket and Asset Management features, enabling businesses to track IT resources and improve efficiency.

Additionally, users appreciate strong customer support and fast response times for technical inquiries.

However, some users note that the dashboard could be improved, as it lacks certain modern features. Others mention that while the tool is highly customizable, the portal design feels somewhat outdated.

Despite its affordability, some larger enterprises might find it less robust compared to high-end ITSM solutions.

What is IT Inventory Management? 

In the world of ITAM, Inventory Management refers to the process of tracking, organizing, and maintaining an accurate record of IT assets—including hardware, software, and cloud resources—throughout their lifecycle. It ensures IT teams know what assets they have, where they are, and how they’re being used, preventing inefficiencies, security risks, and unnecessary spending.

Now, where does it fit under ITAM? Well, ITAM is the big picture, covering everything from procurement to retirement. Inventory Management is a crucial first step—you can’t manage what you don’t know you have!

It ensures visibility and control, so IT teams can make smarter decisions, optimize resources, and avoid the dreaded “Where did that server go?” mystery.

What assets to track in a hardware inventory?

Tracking IT hardware it’s all about knowing what devices matter, why it matters, and how it impacts your business. Different teams see IT assets through different lenses: Finance focuses on cost and depreciation, Security worries about compliance, and Operations needs everything to run smoothly. A good hardware inventory ensures visibility, maintenance, and governance while avoiding unnecessary clutter.

Here’s what should be on your list:

  • End-user devices – Laptops, desktops, tablets, and mobile phones, especially with remote work becoming the norm.
  • Servers and data center hardware – Physical servers, storage systems, and backup solutions that are critical to operations.
  • Networking equipment – Routers, switches, access points, and firewalls to maintain a secure, stable infrastructure.
  • Peripherals and accessories – Monitors, printers, scanners, and docking stations—often overlooked but essential.
  • Cloud and virtual assets – Virtual machines, cloud storage, and hybrid infrastructure components that don’t physically exist but still require tracking.
  • Consumables – Cables, keyboards, spare parts, and other small items that seem insignificant—until they’re missing when you need them.

What assets to track in a software inventory?

If hardware is the body, software is the brain—and failing to track it properly leads to wasted spending, compliance risks, and security vulnerabilities. Software licensing is a constant challenge, and costs can balloon if left unchecked.

A solid software inventory helps organizations avoid paying for unused licenses, missing critical updates, and violating vendor agreements.

Here’s what should be on your radar:

  • Operating systems – Windows, macOS, Linux, and other system software that keeps your devices running.
  • Business applications – Productivity tools, CRM, ERP, and industry-specific applications.
  • Security software – Antivirus, endpoint protection, and access control tools that safeguard data.
  • Development tools – IDEs, testing software, and coding frameworks used by engineering teams.
  • License tracking and compliance – Who’s using what, when renewals are due, and how many seats are actually needed.
  • Cloud services and SaaS – Subscriptions that scale easily but also run up costs if not monitored.

What else to track with IT inventory software?

Beyond hardware and software, IT inventory software should capture the full picture of what keeps your IT ecosystem running smoothly. The key is to track what truly matters, not just everything you own.

Here are additional assets worth managing:

  • Warranties and contracts – Avoid unnecessary repair costs by tracking coverage and expiration dates.
  • Network configurations – IP addresses, VPN settings, firewall rules, and other critical infrastructure data.
  • Cloud resources – Virtual machines, SaaS subscriptions, IaaS platforms, and API usage to control costs and ensure proper provisioning.
  • Industry-specific equipment – Medical devices, industrial machinery, or specialized research tools that require strict compliance tracking.
  • User assignments and access permissions – Knowing who has access to what is crucial for security and accountability.

The key to an effective IT inventory isn’t tracking everything—it’s tracking the right things for the right reasons.

5 key benefits of IT Inventory Management software

IT Inventory Management tools goes beyond simple IT asset tracking. In fact, it helps businesses reduce costs, improve security, and boost efficiency. Here are the top five benefits of using a dedicated tool:

  1. Full visibility & control – Always know what assets you have, where they are, and who’s using them, ensuring better resource allocation and decision-making.
  2. Cost optimization – Avoid unnecessary purchases, eliminate unused software licenses, and optimize IT spending with accurate tracking.
  3. Automation & efficiency – Reduce manual work, minimize human errors, and streamline inventory updates with automated tracking and reporting.
  4. Security & compliance – Detect vulnerabilities, ensure assets are properly maintained, and stay compliant with industry regulations.
  5. Scalability & integrations – Whether you're a small business or an enterprise, IT inventory software grows with your needs and integrates seamlessly with ITSM, financial, and security tools.

By leveraging these benefits, organizations can improve IT operations, enhance decision-making, and prevent costly inefficiencies.¿

IT inventory software picking criteria: 8 must-have features 

Now that you know what it takes to manage your entire inventory properly and how to choose the right ITAM software, here is a list of features your Inventory Management system should have:

  1. Asset tracking - It allows you to trace all your assets and their location. Real-time tracking capabilities allow for for precise overview of inventory levels.

    unified-hardware-inventory-with-invgate-insight
  2. IT asset monitoring - With the asset tracking feature plus an alert system, you can know in real-time what is happening with any of your assets.

  3. Analytics & reports - You must be able to quickly generate reports and analytics about your IT inventory to optimize usage.

    InvGate Insight's customizable dashboards allow users to monitor their preferred ITAM metrics.
  4. Software Asset Management - This feature helps you manage all the software licenses and ensure their compliance with the applicable rules.

  5. Monitoring alerts and health rules - Health rules allow you to define when and how alerts should be triggered for you to be on top of your assets. This includes customizable health tags to match your company's compliance.

    health-rules-invgate-asset-management
  6. Software metering - It allows you to track the software usage in your organization, helping you optimize costs.

  7. Software normalization - To standardize software and make creating reports and analyzing your inventory easier.

  8. Integrations - Inventory Management software offer various integrations with popular service desks and other management systems, allowing you to create a single source of truth for all your IT assets. Some of the most used are help desk and remote desktop integrations.

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Selection criteria for Inventory systems

Apart from the key features listed above, when selecting an Inventory Management system, you have to consider certain criteria to ensure the tool meets your particular needs effectively. 

First, assess the scalability of the tool to ensure it can grow accordingly with your future business plans and processes. In this sense, you should also look for reliable customer support to assist with any issues that may arise during the process.

Ensure the tool offers strong security measures to protect sensitive data and your compliance or regulatory requirements. Plus, when analyzing its integration options, it's important you analyze your current stack of tools to guarantee they align.

Finally, evaluate the cost of the tool, including any possible future hidden fees, to ensure it fits within your budget, while at the same time providing the necessary features and benefits. 

Free IT Inventory Management software: Is it worth it?

While free Inventory Management software can be beneficial for small organizations by providing basic tools for inventory tracking and improving business processes, it often lacks the key features needed for comprehensive Inventory Management.

A paid management software, on the other hand, offers advanced functionalities, better support, and more robust integration options, which are crucial for scaling operations and enhancing overall efficiency.

Ultimately, the cost of a paid solution can be justified by the improvements in productivity and the potential for reducing operational errors, but it's important to balance costs with the necessary functions to ensure the best fit for your business's specific needs.

In short

All the solutions listed above offer a great way to manage and track your IT assets. Ultimately, the choice will depend on your organization's size and specific needs.

Whether you go with an open-source or paid solution, these IT Inventory Management systems can help you keep better track of the hardware and software in your environment and save time and money in the process.

When searching for a new IT Inventory Management tool, just keep in mind the must-have features to avoid future headaches:

  • Asset tracking and monitoring.
  • Analytics and reports.
  • Software Asset Management.
  • Software Metering.
  • Automation and integrations.

Not sure about what you need? You can always contact our experts and ask for more information

Frequently Asked Questions

1. What is an IT Asset Management system?

An IT Asset Management system is a tool that helps organizations manage hardware and software assets in their environment. It lets them easily track assets and store important information, such as serial and model numbers, license keys, installed programs, and more.

2. How do I choose the right IT Asset Management system for my organization?

Choosing the right IT Asset Management system will depend on your organization's size and specific needs. Consider features such as tracking, reporting, and integrations with other applications, as well as whether it meets industry standards.

You should also look into how easy it is to use, the cost, and if it offers a free trial version and a free trial so you can test the system first. Finding the right solution will ultimately determine what works best for your organization.