9 Best Tool Inventory and Equipment Tracking Software Systems
Businesses need the best inventory and equipment tracking system to manage their inventory efficiently. If you are looking for the best tool inventory and tracking tools, here are our top five:
A warehouse can contain thousands of inventory items. Effective inventory management requires you to properly track and maintain these assets to prevent increased expenses and unexpected shutdowns.
Many businesses use inventory management software to manage their inventories. However, not so many pay attention to managing tools and equipment to ensure they remain in optimal working order.
Tool inventory and equipment inventory software help you effectively record and track equipment maintenance to prevent disruption to your business operations.
This article covers 9 of the best tool inventory and equipment tracking software systems.
Let’s get started.
What are the Best Inventory and Equipment Tracking Software?
Best Overall Tool Inventory and Equipment Tracking Software
We choose Sortly as the overall best tool inventory and equipment tracking software because of its fully customizable platform and mobile-friendly options that allow small businesses to track assets easily and create custom alerts to track changes in inventory levels.Try Sortly
Sortly is a simple cloud-based inventory management platform compatible with QR codes and barcodes, making it easy to scan items. Over 10,000 businesses, such as Sephora, Kiewit, and Schneider Electric, trust Sortly.
- Inventory Tracking: Sortly custom fields and grouping features allow users to track their inventory based on location, category, and condition across their business. Users can track suppliers, equipment, rentals, and products from the convenience of a single platform.
- Inventory Scanning: Softly’s QR code labels and barcode labels are designed to make it easy for users to search for items and get instant information on items in their search list. The offline access option and mobile app allow you to access your inventory for different locations readily.
- Application Programming Interface (API) Access: This tool tracking software APIs, although still subject to beta testing, is still a decent feature without integration support.
- Mobile App: Sortly’s mobile app is one of the best features available for you to access your inventory with or without an internet connection. It works on both Apple and Android devices.
- Easy to use with a simple user interface
- Offline mode to continue working without an internet connection
- Custom fields to adapt to your business needs
- 14-day free trial and free plan
- Limited functionalities
- Does not integrate with other software solutions
- Its dedicated customer support is only available on its enterprise plan
Sortly is an affordable inventory management system with pricing starting from as low as $0 for its free plan and rising as high as $89 for the Ultra plan.
Apart from its basic plans, Sortly offers a custom enterprise plan for organizations needing additional security, control, and support.
Best Tool Management Software Platform
We choose Aptien as a top pick on your list because it offers fantastic features for companies that want to minimize their dependence on manual tracking methods. The tool management platform is easy to use, customizable and offers a centralized repository for assets.Try Aptien
Aptien is a tool management software platform that allows users to track and manage equipment and other office assets with extensive support for managing and optimizing their organization's workforce.
- Contract Management: Aptien makes contract management relatively easier by tracking all your contracts, agreements, customers, suppliers, and other business partners and their respective records in one location.
- Project Collaboration and Management: Users get to perfect their project management goals through Aptien’s project collaboration and management feature, making it relatively easier for users and teams to get through their projects.
- Office Management: Aptien offers comprehensive end-to-end solutions that help users to simplify their office management processes.
- Asset Management: The tool management platform offers limitless asset management and maintenance features focused on operational processes to help companies better manage their assets.
- Flexible and effective as a project management application
- Offers a simple, uniform environment to its users
- Improves the efficiency between team members in an organization
- Does not link well with the client's email
Aptien offers a free plan, although its features are limited. The team plan costs $18 per month, and its highest plan range is its premium enterprise plan which costs $180 per month, with access to various features being the distinguishing factor between its subscription plans.
Best Web-Based Computerized Maintenance Management System
Although Assets Essential is one of the most expensive options on our list, the equipment tracking software offers advanced features suitable such as a predictive and preventive maintenance system, asset inventory software, IoT remote monitoring, and GIS mapping integration.Try Asset Essentials
Asset Essentials, formerly Dude Solutions, is a web-based maintenance management system that allows users to add their assets to its platform via barcodes and assign unique identifiers to each asset added to the platform.
- Asset Management: Asset Essentials' asset management feature allows users to monitor their assets' condition, downline, and information. This feature helps preserve assets for as long as possible.
- Work Order Management: With this feature, users can create, assign, track, and complete work requests on their various assets with relative ease.
- Maintenance Scheduling: Scheduling maintenance tasks, especially recurring events, is easy on Asset Essentials. Users can access a central calendar view of their assets and maintenance schedule.
- Document Management: You can manage labor timesheets, contractor agreements, and contact information in a single organized database on Asset Essentials.
- Reduces downtime and improves team productivity with its intelligent tools
- Access to intelligent insights
- Helps users extend their asset lifespan
- Simplify and streamline workflows
- Users can better manage their inventory and prevent running out of stock
- Asset Essentials terminology is difficult to understand
- Difficult to pull reports, and asset history
Asset Essentials does not disclose its pricing openly on its website. Extensive research has shown that its price ranges from $2,500 to $90,000 for its yearly plan option.
Depending on the available industry and features you need from this platform, the cost of access to this platform varies.
4. Asset Panda
Best for Managing Fixed and IT Assets
Asset Panda is the ideal pick for inventory businesses that need a software option with flexible pricing. It is effective for tracking small hand tools to large pieces of industrial equipment, has a built-in scanner feature that reads barcodes, and is compatible with any device.Try Asset Panda
Asset Panda is the best asset management platform for smaller assets and inventory businesses, with an accessible user interface and convenient mobile application.
- Asset Tracking: With Asset Panda, each entry of an asset requires a name, asset ID, brand, description, cost model, and activity status. All these requirements are mandated to help track efficiently purchase or lease information, service contracts, and expiration dates of assets.
- Facilities Management: Asset Panda helps users design their work orders and keep track of employees' check-in and out times. This software tool comprehensively covers managing users' facilities beyond the routine asset tracking function.
- Flexibility: The asset management platform offers users a flexible interface that extends its customizable insurance records and work orders. It also offers custom field options to add to each asset entry on the platform. You can generate reports in PDF, screen, or CSV formats.
- Integration: Asset Panda integrates well with third-party services, including G-suite, Zebra, Zendesk, ConnectWise, and OneLogin, to provide its users with extensive and easy-to-incorporate services for the best user experience.
- Offers full history tracking of the asset life cycle
- User-friendly interface
- Highly customizable platform for users
- Accessible on both android and iOS devices
- Pricing is not transparent
- Add-on features are not as robust as standard features
Asset Panda offers pricing plans based on the number of assets you want to track, however pricing information is not available on its website. You have to request a quote. Multi-year users, education, and non-profit clients get a discount.
Best Equipment Management Tool
Another solid tool inventory option is Cheqroom, recommended for small and large companies. The equipment inventory software comes with customization features that users can use to spot equipment needing repairs or cleaning and set custom reminders for equipment needing exchange to maintain the flow in the manufacturing process.Try Cheqroom
Cheqroom is the best equipment management tool that helps users maintain clear visibility into their assets. This software is used by Google, ESPN, Fox Sports, and Kent State University.
- Integration: Cheqroom integrates seamlessly with several calendar apps, empowering users to view their daily, weekly, and monthly equipment bookings. With an effortless iCal integration, users get a clear and centralized overview of all equipment bookings.
- Mobile App: This innovative equipment inventory software is designed for all categories of businesses and works flawlessly on any device. By just scanning QR codes, users get to enter data accurately through their mobile phones.
- Equipment Checkout: Cheqroom is equipped with a self-service equipment checkout, allowing users to create an account on their login and complete the equipment checkout process.
- Support: Round-the-clock support provides users with up-to-date real-time equipment data to complete tasks.
- Ease of use
- Great customer support
- Offers users a mobile app option, making the platform more accessible
- Efficient navigation allows users to track items, reservations, checkouts, and reports
- Complicated check-in and out process
- Lack of a request and approval feature
Cheqroom offers subscription paid plans starting from as low as $100 per month on its Essential plan to as high as $300 on its Plus plan.
The equipment tracking software does not offer users any free plan, but you get access to a 14-day free trial to test the solution with the requirement of a credit card.
Best Inventory Management Software for Warehousing and Manufacturing
Fishbowl is a scalable asset-tracking platform designed to meet any organization's needs. It comes in several versions, mainly its Fishbowl Manufacturing and Fishbowl Warehouse.
This asset tracking software offers companies the option of purchasing its cloud-based version, Fishbowl Online, to assist them in their asset tracking.
- Integration: Fishbowl allows its users to integrate their programs seamlessly with QuickBooks to increase data accuracy and update their inventory and accounting records simultaneously, having received Intuit's Gold Developer status.
- Multiple Locations: This scalable asset tracking platform offers inventory tracking tools that monitor various inventory levels by warehouse, study their respective sales trends, and quickly transfer products across locations when necessary.
- Inventory Management: Fishbowl offers advanced inventory management tools to small and medium-sized businesses to help track tools and equipment, including barcode printing, scanning, and automatic reordering.
- Order Management: This feature allows users to process orders from their customers and vendors to receive products in their warehouse, track their shipments, record sales and deliveries, and set up automatic reorder points for products.
- One-time fee
- Easy to import from QuickBooks
- Integration and migration support packages
- Different products for warehousing and manufacturing
- Limited customization
- High up-front cost
- Unreliable customer support
Fishbowl is an example of local software, not an online solution like the other cloud-based inventory management options on this list. It does not come with an offer package tier or monthly pricing.
Users of Fishbowl get to make a one-time purchase fee to download either the Fishbowl Warehouse or Fishbowl Manufacturing product which varies depending on the number of users.
Best Asset Tracking Software for Service-Based Businesses
EZOfficeInventory is a cloud-based asset tracking software platform that maintains a comprehensive log for each tool and equipment under the asset tag of the organization.
The access control feature allows users to set permissions and assignments based on teams, departments, or locations.
- Asset Management: Apart from the routine tracking when items are checked in and out, EZOfficeInventory also tracks each item’s maintenance history, lifetime costs, and vendor information. With EZOfficeInventory, users can make Asset reservations on items and track these asset reservations on their calendars.
- Maintenance Management: EZOfficeInventory makes it easy to manage and perform equipment management simply by setting up maintenance schedules. With a maintenance schedule in place, the system sends notifications to remind you of all items’ current status, helping to check equipment to ensure it keeps running efficiently.
- Scheduled Maintenance: You can also use EZOfficeInventory to create purchase orders and service tickets for their scheduled maintenance to assist in managing equipment maintenance.
- Traditional Inventory Management: Although not a traditional inventory management platform, EZOfficeInventory offers some standard features to help you track your assets, including purchase order and cost tracking, vendor management, data backups, and location tracking.
- Integrations: EZOfficeInventory offers a limited number of integrations to incorporate alongside your asset tracking, including Zendesk, Jira, Dropbox, and OneDrive. With an advanced plan, you can customize your APIs for any integrations not already available on the platform.
- Detailed asset usage history
- Schedule maintenance and management of asset tags
- License tracking of assets tags
- Easy-to-use interface
- No retail inventory management
- Offers a minimal warehousing feature
- Mobile app is very buggy.
EZOfficeInventory four plans have an unlimited users option, and the cost varies depending on the number of items you need to manage.
All EZOfficeInventory plans include asset tracking of 250 items and a charge of $15 per month for every additional item not included in the 250 items in your inventory list.
Best On-Premise Asset Tracking Solution
GigaTrak, with over 25 years of experience in the industry, has continued to provide its users with customized hardware and software asset-tracking solutions for an unlimited number of tools and locations.
- Asset Tracking: GigaTrak has an asset tracking system that offers unlimited asset tracking with data files that can be easily imported and exported.
- Barcode Scanning: With a simple barcode scan, users of GigaTrak get to track and manage their assets throughout their lifecycle. Greater accountability is guaranteed, with users able to track down the exact location of their assets.
- Photo and Document Attachment: With access to historical data of an asset that GigaTrak offers, users can accurately predict the lifespan of assets from the history of repairs with relevant photos and files for documentation.
- Reporting: GigaTrak offers reporting functions, including PDF formatting, audit and run discrepancy, and email features for users to choose their best. Users can choose their customized reports.
- Ease of use
- Powerful platform for equipment management
- High accuracy rate
- Needs an expensive upgrade to remove items from the database
- Limit on scalability and customization
The pricing on GigaTrak starts at $995 for a one-time payment option, in addition to its 30-day free trial promotion.
Best Fixed Asset Management Software
GoCodes is an equipment tracking platform offering a smartphone scanning app and integrated QR code tags, barcodes, RFID tags, among many other features, to its users. It is a perfect choice for businesses that need an adequate and not-so-routine product.
- Inventory Management: GoCodes offers a centralized inventory database and level dashboards to track and manage all inventory records and stock levels in a suitable location with its flexible inventory dashboards.
- Asset Tracking: This equipment tracking platform allows users access to barcodes or Radio Frequency Identification (RFID) technology via mobile apps to track their inventory assets.
- Tool Tracking: With GoCodes, you get to customize your fields for tracking your tool inventory, including the serial number, model, and purchase date, and track their maintenance and repayment schedules.
- Check-Ins and Outs: GoCodes offers a mobile app with barcode scanning technology to check products in and out while tracking tool inventory. Assignment of the tool due and return dates are more straightforward with GoCodes, where automated overdue messages are sent to admins on the platform.
- Easy-to-use software
- Tracks a wide range of assets at once, including other assets that are not networked
- Ensures security when linking physical stickers with the owner’s information
- There is no automated detection of assets
- GoCodes stickers put a restriction on the resale potential of companies
- No uptime monitoring or software usage tracking
GoCodes offers a pricing range for its standard plan of $500, $1,000 for its premium plan, $1,750 for its elite premium plan, and $2,500 for its professional plan, all per annum.
Depending on your subscription plan, the difference between these plans is their quantity of assets and number of logins.
How To Choose Tool Inventory Software
The choice of which equipment inventory management software to use is a decision that needs to be made based on your business organization's unique peculiarities and design. A high level of accuracy is required to minimize errors that tend to delay routine operational activities.
With the best tool management software in use as opposed to manual inventory tracking, businesses are better positioned to avoid the common errors that follow business operations and minimize the likelihood of disappointing customers as orders are fulfilled timely.
1. Consider Your Organization Needs
The best tool management software is the one that can efficiently be utilized by your organization with the least effort and training. Choose a tool inventory software that can handle your organization’s inventory needs and is easy to use for your employees.
Several platforms offer free webinars, guides, and in-person onboarding to help your business integrate seamlessly. Consider this training if your organization needs more advanced inventory and equipment software.
2. Seek Input from End Users
The selection process of your tool management software needs to be passed through all quarters of the organization. Key members need to be involved in the selection process to make it easier for all relevant members to quickly adapt to the new platform.
Feedback from end users is also one of the essential criteria that should guide your choice of tool management software. Getting feedback ensures the selected platform meets the unique needs of your respective teams, making it easier to get everyone on board.
3. Consider Cost
Another factor to consider is the expense, as budget is one restriction you must adhere to as an organization.
As much as you would seek the best platform with the most outstanding features, these platforms are expensive, and rightfully so, because of what they offer.
Your choice needs to be within your organization's budget. You should choose the best option for your business needs within your budget constraints.
If you need to expand due to your growing business, you can always upgrade to a higher platform that suits your business.
Tool management software is particularly useful in tracking the movement of assets by improving the visibility of these assets for optimum utilization.
These software tools are helpful from the procurement stage up until the implementation stage of asset management.
Tool management software helps businesses manage their inventory by helping them keep track of the various tools they own or lease, their current location, and how frequently they are being used.
With tool management software, you are notified when your inventory runs out, when they are needed for use, and when they become obsolete and unusable.
Just like most types of software available for businesses to choose from, equipment and tool inventory is secure. They offer a series of layers of security to ensure the security of their users.
Equipment and tool inventory software tools are designed with data encryption and privacy protection.
They use advanced security features such as two-factor authentication, multi-factor authentication, documentation on security updates, and patches to monitor intrusion and user activities.
The average cost of equipment tracking software is between $15 to $40 per month for the basic range of features and can rise as high as $50 to $150 per month for more sophisticated features.
What is the Best Tool Management Software for Asset Tracking?
Choosing the right tool management software can be tricky, particularly with the many good options on the market.
The most effective way to select the best tool management software is to pick the option that specifically meets your needs. You also want to consider the cost of the tool in comparison to your available budget.
This guide reviewed 9 of the best tool inventory and equipment tracking software systems in 2022. Here is our top five-tool management software for asset tracking:
If you need more information to help you make a decision, you can check out these other inventory management articles:
- What is Inventory Control?
- Best Cloud-Based ERP Software
- Best ERP Software Systems
- Best Warehouse Inventory Management Software
- Ultimate List of Inventory Management Statistics