Top 10 Best IT Inventory Management Software in 2024

Managing IT assets is compulsory for businesses to sustain productivity and cut costs. You only need the correct software inventory tools to track hardware, software, and licenses. Finding the right inventory management technology helps small and large businesses improve organization and resource usage. 

Are you too searching for good IT inventory management software? If Yes, then this article is here to help. We have a list of 10 great IT inventory management systems listed down below.

it inventory management software

What Is an IT Inventory Management Software?

IT inventory management software is an application that allows firms to properly track, manage, and optimize their IT assets. These assets include hardware devices, software licenses, applications, and digital resources. Inventory management software also assists businesses in lowering costs, decreasing risks, and increasing efficiency in their IT inventory infrastructure.

How to Use IT Inventory Software?

Using IT inventory software means identifying objectives, selecting the appropriate software, and systematically entering and arranging data. Regular inspections improve accuracy and compliance, while automation and integration help to speed up processes. 

You need to create defined policies and procedures and monitor performance to evaluate the effectiveness and identify improvement needs. You can hire people for training and support to ensure employees can use the software successfully and implement security measures to protect important data.

6 Great Features of IT Inventory Management Software

Software inventory tools provide many features to assist businesses in properly managing their IT assets. Here are some of the features that IT software can provide:

1- Asset Tracking

Asset Tracking lets users monitor hardware, software, and other IT assets throughout their entire lifecycle, from purchase to disposal.

2- Inventory Management

There are software inventory tools for accurately tracking IT assets, including serial numbers, purchase dates, locations, and specifications.

3- Asset Discovery

You can automatically discover and identify new assets linked to the network. This helps you acquire complete asset coverage.

4- Barcode/QR Code Scanning 

This feature allows for the quick and accurate identification and tracking of physical assets using barcodes or QR codes.

5- Software License Management 

Software license management helps businesses track software licenses, monitor usage, and assure compliance with licensing agreements to prevent legal issues.

6- Alerts and Notifications

You can send alerts and notifications for important events such as warranty expirations, license renewals, or low inventory levels.

What Should an IT Asset Inventory Include?

An IT asset inventory should include the following resources: 

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  • Hardware assets like computers, storage devices, modems, and other physical devices. 
  • Software assets, such as all software applications, licenses, subscriptions, and operating systems used by the organization.
  • Digital resources involve the data, files, databases, and digital material kept on servers or cloud platforms. 
  • Peripheral devices are monitors, keyboards, mice, external drives, and other computer system accessories.
  • Documentation for network components such as routers, switches, firewalls, access points, and VPN devices. 
  • Virtual machines (VMs), hypervisors, virtual networks, and storage allocations. 

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Our Top 10 Picks of IT Inventory Management Software

Here are ten of the best IT inventory management software that are well-recognized for their features:

1- Snipe-IT

The first software on this list is Snipe-IT. It is an open-source IT asset management software that tracks hardware, software, licenses, and accessories. It features customizable fields, barcode scanning, and reporting capabilities.

2- SolarWinds Service Desk 

SolarWinds Service Desk provides IT asset management, help desk, and ticketing functions. It supports asset finding, IT inventory tracking, reporting, and connection with network monitoring and automation.

3- Lansweeper 

Lansweeper is a comprehensive IT asset management platform that includes inventory management, network discovery, software deployment, and license compliance. It provides agentless scanning, customizable reports, and automatic inventory updates.

4- ManageEngine AssetExplorer

This software deals with IT asset lifecycle management, procurement monitoring, software licensing management, and compliance reporting. It includes automatic discovery, audit trails, and connection with other ManageEngine solutions.

5- Freshservice

Freshservice is a cloud-based IT service management software with asset management, incident management, and service desk functions. End-users can access asset tracking, software license management, and self-service portals.

6- ServiceNow

This software provides asset lifecycle management capabilities, inventory monitoring, software asset management, and license compliance. ServiceNow allows automation workflows and collaboration with other ServiceNow modules.

7- SysAid

SysAid combines IT service management and asset management skills into a single platform. It allows asset detection, IT inventory tracking, software license management, and compliance reporting.

8- Spiceworks Inventory

Spiceworks Inventory is a free IT asset management program with network inventory, software tracking, and license management capabilities. IT professionals benefit from real-time monitoring, notifications, and community help with this software.

9- IBM Maximo

IBM Maximo is an asset management program that manages IT assets, facilities, and equipment. It includes asset tracking, maintenance planning, procurement management, and regulatory compliance functions.

10- Device4

The last software on the list is Device4. It offers IT asset management, discovery, and dependency mapping features. It supports hardware inventory, software asset management, licensing tracking, and IT documentation.

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What Features Should I Look for in IT Inventory Management Software?

Key features to look for in IT software are:
1. Asset tracking
2. Inventory management
3. Software licensing management
4. Asset discovery 
5. Customizable reporting
6. Integration capabilities
7. Security features
8. Mobile accessibility. 

Is Excel Good for Inventory?

Excel has tools, features, and formulas that make spreadsheets more dynamic and interactive. It can also handle basic inventory management for small businesses.


To summarize everything above, IT inventory management software allows businesses to keep track of their computers, software, and other technological assets. It’s like having a list of everything the corporation has in the technology sector. This software is helpful because it collects all the information regarding these topics in one place. It makes it easier for people to understand what they own, where it is, and how it is used. Businesses can save time, money, and hassles by using IT inventory management software.

Mike is a professional business and Tech blogger that writes for a variety of leading sites. He loves content partnerships with advertisement agencies.