Best IT inventory management software

Efficient IT inventory management is crucial for organizations aiming to streamline their operations and maintain a competitive edge. As businesses increasingly rely on a multitude of digital assets, the need for robust inventory management solutions has never been more pressing.

From cloud-based solutions that offer scalability and flexibility to AI-driven platforms that provide actionable insights, the latest IT inventory management software is equipped to handle the dynamic demands of today’s business environment. In this article, we’ll explore the top 15 IT management software on the market and how they can transform the way your organization manages its IT infrastructure in 2024.

What is IT inventory management software?

IT inventory management software is a digital tool designed to help organizations efficiently track, manage, and optimize their information technology assets. It provides a centralized platform for documenting and monitoring the entire lifecycle of IT resources, including hardware, software, and network components. By automating inventory tracking, these solutions minimize the risk of errors and discrepancies that can occur with manual methods.

IT inventory management software often integrates with other systems, such as IT service management (ITSM), procurement, and financial applications, offering a holistic view of an organization’s IT infrastructure. By streamlining asset management processes, these tools help organizations reduce costs, improve efficiency, and ensure that their IT resources align with business objectives.

Benefits of IT inventory management software

Now that you know what IT inventory management software is, let’s take a look at how it can benefit your business.

Increased profits

IT inventory management software can significantly increase profits by providing real-time visibility into asset locations, conditions, and usage patterns, which reduces unnecessary expenditures and enhances operational efficiency. Automated auditing and tracking features minimize the risk of asset loss and theft, while predictive maintenance tools reduce downtime by anticipating and addressing potential issues before they become problems. They also improve compliance management, helping organizations avoid fines and penalties associated with regulatory breaches. 

Streamlined operations

This software eliminates the inefficiencies of manual inventory processes by automating asset discovery, tracking, and auditing, ensuring that all assets are accessible and accurately documented. IT inventory management software also provides real-time updates and comprehensive reporting capabilities that offer immediate insights into asset status, usage, and maintenance needs, enabling quick and informed decision-making. By integrating with other enterprise systems, it ensures seamless coordination and information flow across departments. This enhances operational agility, allowing organizations to respond swiftly to changing demands and maintain optimal performance.

Enhanced customer service

IT inventory management software enhances customer service by ensuring that IT resources are always available and functioning optimally, which directly impacts the efficiency and responsiveness of customer-facing operations. By providing real-time visibility into the status and location of IT assets, the software enables swift resolution of technical issues and minimizes downtime, ensuring that customer support services run smoothly. Additionally, the software's automated tracking and predictive maintenance features help prevent disruptions by proactively addressing problems before they affect customers. This reliability and efficiency translate into faster response times, higher service quality, and a more satisfying customer experience.

Key features of IT inventory management software

The following features are what make IT inventory management software so powerful.

Configuration management database (CMDB)

A configuration management database (CMDB) is a centralized repository for storing detailed information about all IT assets and their configurations. This feature captures and maintains comprehensive data on IT resources, including their relationships and dependencies. By providing an overview of the IT environment, the CMDB enables better decision-making and streamlined change management processes. It facilitates impact analysis by identifying how potential changes or issues in one asset could affect others, reducing the risk of unintended disruptions. The CMDB also supports regulatory compliance and governance by maintaining accurate and up-to-date records, ensuring that organizations can quickly respond to audits and other compliance requirements.

Incident management

Incident management features are designed to streamline the process of identifying, recording, and resolving IT issues while ensuring minimal disruption to business operations. This feature enables efficient incident logging by categorizing and prioritizing them based on their impact and urgency. Automated workflows and escalation protocols ensure that incidents are promptly assigned to the appropriate support personnel, accelerating response times. By integrating with the software's asset tracking capabilities, the incident management feature provides valuable context about affected assets, which leads to quicker diagnosis and troubleshooting. Additionally, comprehensive reporting and analytics offer insights into incident patterns and root causes, enabling organizations to implement proactive measures to prevent future occurrences. 

Remote desktop

Remote desktop features give IT administrators the capability to access and control devices from any location. This feature enables secure, real-time access to desktops, laptops, and servers, facilitating quick troubleshooting and maintenance. This minimizes downtime and ensures continuity of operations. It also supports remote software installations, updates, and configurations, ensuring that all devices remain up-to-date and compliant with organizational standards. This capability is particularly valuable for managing distributed workforces and providing immediate support to improve the overall productivity and satisfaction of end users.

Automations

IT inventory management software can automate processes such as asset discovery, tracking, auditing, and reporting, ensuring that all IT assets are accurately monitored and documented in real-time. This reduces the likelihood of human error, improves data consistency, and frees up IT personnel to focus on more strategic initiatives. They also have automated alerts and workflows that can proactively manage maintenance schedules, software updates, and compliance checks, ensuring that potential issues are addressed before they escalate. Overall, automation features enable organizations to reduce costs and boost productivity.

Reporting and analytics

Reporting and analytics features generate comprehensive reports on asset utilization, performance, compliance, and lifecycle status. They present this information in easily interpretable formats, such as dashboards, charts, and graphs. Advanced analytics capabilities can identify trends, uncover inefficiencies, and predict future needs, allowing organizations to optimize their IT investments. These tools can also rack key performance indicators (KPIs) and generate audit trails, ensuring transparency and accountability. By offering a clear and detailed view of the IT environment, reporting and analytics features help organizations make informed choices that enhance operational efficiency, reduce costs, and improve IT governance.

The top 15 IT inventory management software for 2024

1. Freshservice

Freshservice is comprehensive IT inventory management software designed to streamline IT operations and enhance asset management. It has an intuitive interface and robust features like real-time asset tracking, automated workflows, and detailed reporting capabilities. Freshservice also seamlessly integrates with other IT service management (ITSM) tools to ensure efficient resource utilization and proactive maintenance.

Key features

• Robust change management module

• Customizable service catalog

• Comprehensive incident management system

Pros

• Mobile app support

• Offers a self-service portal

• Automated asset discovery tools

Cons

• Some customers report insufficient documentation

• Limited branding support

• Limited ticket filtration options

Price

• Starter: $19/agent/month billed annually

• Growth: $49/agent/month billed annually

• Pro: $95/agent/month billed annually

• Enterprise: $119/agent/month billed annually

2. SolarWinds

SolarWinds is an IT inventory management software designed to provide comprehensive oversight and control over an organization's IT assets. It facilitates real-time asset tracking, detailed reporting, and automated discovery of hardware and software resources. Known for its scalability and integration capabilities, SolarWinds enables businesses to optimize their IT infrastructure efficiently.

Key features

• Advanced network performance monitoring capabilities

• Supports virtualization management

• Robust configuration management tools

Pros

• Highly scalable

• Strong community support

• Detailed and customizable reporting options

Cons

• Time-consuming, resource-intensive setup

• Not all features are compatible with non-Cisco equipment

• No root cause analysis or topology mapper

Price

• Contact SolarWinds for pricing

3. Cin7

Cin7 is an IT inventory management software designed to streamline inventory control and optimize operational efficiency for businesses of all sizes. It integrates seamlessly with various sales channels and platforms, providing real-time visibility into stock levels, orders, and inventory movements. Its robust automation capabilities and intuitive interface enable businesses to reduce manual tasks, minimize errors, and improve productivity.

Key features

• Omnichannel integration

• Advanced reporting and analytics

• Inventory optimization tools

Pros

• Multi-currency support

• Customizable workflows

• Robust warehouse management features

Cons

• Setup and customization can be complex

• Certain reports don’t automatically generate data

• Limited reporting and field customization

Price

• Standard: Starts at $349/month

• Pro: Starts at $599/month

• Advanced: Starts at $999/month

• Omni: Contact for pricing

4. Jira Service Management

Jira Service Management is designed to streamline asset tracking and enhance service delivery within organizations. Known for its powerful integration capabilities and user-friendly interface, Jira Service Management offers real-time visibility into IT assets. With its comprehensive features, this software empowers IT teams to optimize their operations and deliver excellent service.

Key features

• Comprehensive incident, change, and problem management

• Supports SLA management

• Streamlined service request management

Pros

• Powerful automation rules

• DevOps integrations

• Highly customizable dashboards

Cons

• Limited out-of-the-box reports

• Steep learning curve

• No deletion recovery 

Price

• Dependent upon number of agents

5. Asset Panda

Asset Panda is dynamic IT inventory management software known for its cloud-based platform and user-friendly mobile app. It provides real-time visibility and comprehensive control over an organization's asset lifecycle. Its features, such as automated workflows, detailed reporting, and robust integration capabilities, empower businesses to optimize asset utilization, reduce costs, and improve operational efficiency. 

Key features

• Barcode and QR scanning functionality

• Robust audit and compliance management features

• Tools for scheduling and tracking maintenance

Pros

• Fully customizable fields and templates

• Role-based access control capabilities

• Real-time data synchronization

Cons

• Asset data cannot be downloaded or exported

• Mandatory time-out settings

• Mobile app has limited offline capabilities

Price

• Contact AssetPanda for pricing

6. Spiceworks

Spiceworks is a versatile IT inventory management software for businesses seeking efficient and cost-effective asset-tracking solutions. Known for its comprehensive free tools, this software provides real-time visibility into IT assets. This all-in-one platform is ideal for small to medium-sized businesses.

Key features

• Advanced network monitoring capabilities

• Integrated help desk solution

• Remote desktop access capabilities

Pros

• Development is community-driven

• Extensive plug-in and add-on support

• Provides real-time inventory updates

Cons

• Limited customization

• Limited roles and notification options

• Includes advertisements to keep the software free

Price

• Free

7. NetSuite

NetSuite is a comprehensive IT inventory management software that provides tools for managing and optimizing IT assets within an organization. Known for its cloud-based platform, NetSuite offers real-time visibility into asset status and seamless integration with other business systems. This versatile solution helps businesses streamline their IT operations, reduce costs, and improve efficiency by centralizing asset management.

Key features

• Automated procurement

• Multi-location management

• Real-time dashboards

Pros

• Robust vendor management capabilities

• Customizable, automated workflows

• Extensive customer support

Cons

• Users have reported bank transaction synchronization issues

• Journal entries can’t be edited from controller or administration roles

• Extended report loading times

Price

• Contact NetSuite for pricing

8. ServiceNow ITAM

ServiceNow IT Asset Management (ITAM) is a cloud-based IT inventory management software that provides real-time visibility, automated workflows, and comprehensive analytics to optimize asset utilization and reduce costs. Known for its seamless integration with other ServiceNow modules, this solution enhances overall IT service management. Ideal for organizations of all sizes, ServiceNow ITAM empowers IT teams to maintain control over their assets and ensure compliance.

Key features

• Integrated contract management capabilities

• Detailed financial management tools

• Seamless CMDB integration

Pros

• Automated discovery capabilities

• Proactive issue resolution tools

• Advanced vendor performance tracking functions

Cons

• Users have reported latency when assets increase

• Steep learning curve

• Limited report and dashboard customization

Price

• Contact ServiceNow for pricing

9. Katana

Katana is a modern IT inventory management software that provides real-time visibility, automated inventory tracking, and seamless integration with other business systems. This powerful tool enhances operational efficiency by simplifying asset management processes and ensuring accurate inventory data.

Key features

• Detailed batch tracking

• Robust order management capabilities

• Customizable workflows

Pros

• Supports barcode scanning

• Integrates with accounting software

• Advanced security measures 

Cons

• Pipeline rendering limitations

• Complex setup and configuration

• Limited offline capabilities

Price

• Starter: $179/month billed annually

• Standard: $359/month billed annually

• Professional: $799/month billed annually

• Professional Plus: $1,799/billed annually

10. Fishbowl Inventory

Fishbowl Inventory is a comprehensive IT inventory management software known for its robust features and seamless integration with QuickBooks. It provides real-time inventory updates, automated workflows, and detailed reporting capabilities. This versatile platform is scalable and suitable for businesses of all sizes.

Key features

• Automated reordering functionality

• Advanced shipping capabilities

• Multi-location management

Pros

• Barcode and RFID support

• Detailed reporting and analytics

• User-friendly UI

Cons

• Inventory reports don’t reflect backdated transactions

• Fully customizable reports require higher-priced packages

• No stock level notifications

Price

• Contact Fishbowl for pricing

11. Monday Service

Monday Service is a versatile IT inventory management software known for its intuitive and visually appealing interface. It offers customizable workflows, real-time collaboration, and detailed reporting capabilities. Monday.com is suitable for businesses of all sizes.

Key features

• Advanced search and filtering options

• Powerful automation capabilities

• Mobile app

Pros

• Comes with customizable IT inventory management templates

• Visual project management features

• Robust collaboration tools

Cons

• Still in beta

• Complicated table creation and structures

• Limited comprehensive documentation

Price

• Standard Service: $26/seat/month

• Pro Service: $38/seat/month

• Enterprise Service: Contact for pricing

12. Sortly

Sortly is a user-friendly inventory management software with an intuitive interface and mobile app support. It offers real-time visibility into inventory levels, automated alerts, and detailed reporting capabilities. This cloud-based solution allows businesses to efficiently manage their IT assets from anywhere while ensuring data accuracy and operational efficiency. 

Key features

• Advanced activity tracking

• Visual inventory management

• Automated inventory alerts and reminders

Pros

• Supports bulk item editing

• Offers offline access via mobile app

• Supports multi-user access with role-based permissions

Cons

• Slow search times

• Limited integration options

• Doesn’t generate purchase orders

Price

• Free

• Advanced: $29/month

• Ultra: $59/month

• Enterprise: Contact for pricing

13. Zoho Inventory

Zoho Inventory is a comprehensive inventory management software known for its powerful features and seamless integration with other Zoho applications. It provides real-time inventory tracking, automated workflows, and detailed reporting capabilities. This cloud-based platform ensures accurate, up-to-date inventory data and supports multi-channel inventory management.

Key features

• Robust order and warehouse management capabilities

• Supports serial number and batch tracking

• Seamless integration with accounting software

Pros

• Mobile app

• Automated reordering capabilities

• Customizable reporting tools

Cons

• Limited knowledgebase

• Users have reported insufficient customer support

• Limited bulk editing features

Price

• Standard: $29/month billed annually

• Professional: $79/month billed annually

• Premium: $129/month billed annually

• Enterprise: $249/month billed annually

14. inFlow

inFlow is a robust IT inventory management software known for its intuitive interface and comprehensive features. It offers advanced inventory tracking features, like the ability to manage inventory by serial numbers, lot numbers, and expiration dates. inFlow also provides real-time visibility into inventory levels and automates critical processes.

Key features

• Multi-currency support

• Barcode generation and scanning capabilities

• Comprehensive purchase order management

Pros

• Strong integration capabilities

• Comprehensive customer support

• Supports offline functionality

Cons

• Product type can’t be edited once a product is created

• Users have reported mobile app glitches

• Forms cannot be exported directly to Word or Excel

Price

• Entrepreneur: $89/month billed annually

• Small Business: $219/month billed annually

• Mid-Size: $439/month billed annually

• Enterprise: $1,055/month billed annually

15. Atera

Atera is an all-in-one IT inventory management software designed for managed service providers (MSPs) and IT professionals. With its intuitive cloud-based platform, Atera offers real-time monitoring, automated tracking, and comprehensive reporting. It’s ideal for businesses looking to optimize their overall IT infrastructure.

Key features

• Remote monitoring and management tools

• Professional services automation tools

• AI-powered assistance

Pros

• Automated alerts and notifications

• Integrated ticketing system

• Customizable reports 

Cons

• Mobile app is missing features found in the desktop version

• MAC agents cost extra

• Users have reported having to reinstall Atera after Windows updates

Price

• Professional: $149/technician/month billed annually

• Expert: $189/technician/month billed annually

• Master: $219/technician/month billed annually

• Enterprise: Contact for pricing

Choosing the right IT inventory management software for your business

Selecting the right IT inventory management software is a crucial decision that impacts operational efficiency, cost management, and overall productivity. To ensure you choose the best solution for your specific needs, consider the following:

• Assess Your Needs: Identify the specific requirements of your organization, including the types of assets you need to manage, the size of your inventory, and any features that are essential for your operations.

• Scalability: Choose software that can grow with you. 

• Ease of Use: Look for a user-friendly interface that minimizes the learning curve and enhances productivity.

• Integration Capabilities: Ensure the software can integrate seamlessly with your existing systems to provide a unified and efficient workflow.

• Automation Features: Opt for software with robust automation capabilities to save time and reduce manual errors.

• Security: Ensure the software has robust security features to protect sensitive information.

Bring your IT inventory management capabilities with Freshservice

Using Freshservice to manage your IT inventory will position your organization to handle the dynamic challenges of 2024 and beyond. Freshservice offers a suite of advanced features, including real-time asset tracking, automated workflows, and detailed reporting, to streamline your IT operations. Its seamless integration with other IT service management tools ensures that all your IT processes are interconnected. The software’s user-friendly interface and robust support system make it accessible to IT teams of all sizes and expertise levels. 

Whether you are a small business looking to scale or a large enterprise seeking to enhance your IT infrastructure, Freshservice provides the flexibility and scalability you need. Embrace the future of IT inventory management with Freshservice and equip your organization with the tools necessary to stay ahead. With Freshservice, you aren’t just managing IT assets; you’re poising your organization for sustained success.