If you landed here, it’s safe to assume you’re looking for fixed asset management software that best fits your construction company’s needs and budget.
Naturally, the software market offers a multitude of solutions aimed at automating many tasks associated with managing your fixed assets like heavy machinery, vehicles, equipment, and tools.
To help you decide what software is right for your business, we’ve compiled a list of the eight best asset management solutions out there, together with their essential features and pricing.
So, let’s begin.
In this article...
Before we dive into presenting our fixed asset management solution, GoCodes, just a few introductory notes.
First, the order in which these software solutions are presented does not imply their ranking when it comes to the best one for your construction business.
That decision is up to you and your team and will depend on many factors like the key features you’re looking for, how easy it is to implement and use the software, and, naturally, its price.
Second, GoCodes is listed first as a way to best describe the essential functions provided by most other solutions here, such as fixed asset tracking, preventive maintenance scheduling, and depreciation management.
With that out of the way, let’s see what GoCodes has to offer.
As you can see in the image above, GoCodes enables you to tag your fixed assets with patented QR code labels, and then use cloud-based software (on any internet-connected device) and an in-app scanner (on smartphones and tablets) for tracking and management purposes.
As such, GoCodes extends beyond just fixed assets, allowing you to track and manage consumable inventory (spare parts, supplies, etc.) and construction materials as well.
Here are some of the features that GoCodes provides:
All these features (except rugged metal tags and Bluetooth beacons, which are ordered and priced separately) are enabled once the system is established, which is simple to do with GoCodes.
In other words, to start managing your fixed assets, all you need to do is attach QR code tags to equipment, tools, and other assets, enter the initial asset data (e.g., make and model, purchase date and price, etc.) into the GoCodes system, and you’re ready to go.
Other than being a one-stop solution designed for construction companies, one distinctive feature of GoCodes is automatic GPS tracking.
Simply put, every time workers and managers scan a fixed asset tag with their mobile device, the software will automatically capture the asset’s current location using the scanning device’s GPS function.
This automation ensures you know where your assets are in near real time without having to use considerably more expensive active GPS trackers.
Coupled with the GoCodes’ check-in/check-out feature that tracks asset users, this increases worker accountability, minimizes internal theft, and helps in cases of external theft.
Other notable features include fixed asset depreciation calculations, asset audits, maintenance scheduling and tracking, and custom reports.
As for pricing, GoCodes is subscription-based, offers a free trial, and its starting package ($500 per year) includes self-printed QR codes, up to 200 assets, and 3 users, while all other packages include custom tags in the price and a higher number of assets and users.
Overall, GoCodes is a simple, affordable, and easy-to-use fixed asset management solution contractors can use to track their equipment and tools, streamline maintenance and accounting, increase worker accountability, and minimize asset loss and theft.
As its name suggests, IBM Maximo is part of IBM, a renowned technology company known for its commitment to delivering innovative and comprehensive software and hardware solutions.
IBM Maximo specifically focuses on asset management, offering a robust platform designed to help organizations optimize the lifecycle management of their fixed assets, enhance efficiency, and make data-driven decisions.
It provides an astounding number of different applications, tools, and features for asset management that can be combined according to your business’s needs (and, naturally, budget).
This mobile enterprise asset management (EAM) system can cover all aspects of fixed asset management, from asset and inventory tracking to maintenance planning and work order management.
The platform also supports barcode and QR code scanning, facilitating efficient asset tracking and data capture in real-time.
Moreover, IBM Maximo employs predictive maintenance capabilities, leveraging artificial intelligence (AI), advanced analytics, and the Internet of Things (IoT) sensor data to forecast potential asset issues and proactively schedule maintenance.
In terms of price, IBM Maximo can be purchased as on-premises software or software-as-a-service (SaaS), the latter being preferred by businesses looking to reduce upfront costs of investing in IT infrastructure.
However, despite providing a price estimator, IBM Maximo has so many features and options that you will have to do a deep dive to identify what you need and then still request a quote to get a specific price estimate.
To recap, IBM Maximo is surely one of the most comprehensive and probably the most expensive fixed asset management solution on our list appropriate for large construction companies with complex asset management needs and the resources to fully leverage its extensive feature set.
Asset Panda is a cloud-based fixed asset management software that focuses on enabling clients from various industries, including construction, to efficiently track and manage their assets.
In terms of its features, user-friendliness, and easy setup, Asset Panda is much closer to the simplicity of GoCodes than the complex nature of IBM Maximo.
For instance, while both Asset Panda and GoCodes offer barcodes and QR codes for tracking physical assets from tools and equipment to computers, Asset Panda also enables you to use RFID tags and track digital assets like software licenses, subscriptions, and contracts.
Another difference is that Asset Panda relies on externally sourced asset tags while GoCodes keeps the entire process in-house.
Similarly, Asset Panda offers extensive customization options, which can be great for some companies but also extends the time needed for the system setup and user onboarding.
Asset Panda’s features cover all the essentials needed for effective asset management, some of which you can see here:
As regards pricing, Asset Panda is subscription-based but provides no specific price packages.
Instead, you’re required to ask for a quote.
That said, web sources specify that Asset Panda’s basic package (250 assets, limited number of users) starts at $995 a year while packages over 500 assets come with unlimited users.
In summary, Asset Panda offers everything you need to efficiently track your fixed assets with a high degree of customization, allowing construction companies to configure the system according to their specific asset management needs.
UpKeep is another cloud-based asset management platform that enables construction companies to easily track and manage their equipment, tools, and other fixed assets.
Just like most other solutions on this list, UpKeep relies on barcodes or QR codes (self-printed or preordered) that can be scanned with mobile devices to view and update asset usage and maintenance data.
As its name suggests, UpKeep focuses on optimizing asset maintenance operations, from scheduling preventive maintenance to managing the related work orders and analyzing data to improve asset lifecycle management.
UpKeep also provides inventory management features, allowing companies to track the quantity and costs of spare parts, accessories, and other consumable supplies needed for efficient maintenance.
Additionally, you can ensure that UpKeep’s package includes advanced analytics and reporting to better understand each asset’s usage patterns and maintenance needs.
Here are UpKeep’s pricing tiers:
For instance, the Professional package with options to run analytics at any time costs $75 a month (or $900 a year) per user while their most popular offer, Business Plus, is quote-based.
All in all, UpKeep is a user-friendly asset management platform that centralizes all asset-related information in one system, allowing construction companies to efficiently manage their maintenance operations, thus increasing asset lifespan and reliability.
EZOfficeInventory is next on our list of popular fixed asset management software solutions with a user-friendly interface and a multitude of features.
Similar to others, this barcode or QR-code-based solution can be used by construction companies of any size to streamline the management of their fixed assets like equipment, tools, IT devices, and inventory like spare parts and other supplies.
Also like most other solutions here, EZOfficeInventory relies on cloud-based software and an in-app scanner installed on devices like smartphones and tablets.
In their words, you can use the EZOfficeInventory mobile app to:
…reserve and check out equipment, verify custody, scan items, track critical KPIs, and much more—all from your phone.
Furthermore, as stated below, EZOfficeInventory provides:
In terms of the above asset tracking and management functionalities, EZOfficeInventory can be compared to GoCodes and Asset Panda.
Moreover, it arguably offers a slightly more extensive set of features than both those solutions, which enhances the automation of various workflows.
However, this can also make its use more complex, particularly for less tech-savvy construction workers.
EZOfficeInventory offers the following pricing plans:
For example, the Advanced package for 250 assets and unlimited users costs $55 a month or $660 a year, with some fine-print caveats.
Overall, EZOfficeInventory offers construction companies of any size a user-friendly, highly configurable, and customizable solution for digitizing and automating fixed asset tracking and management workflows.
Fiix, a part of Rockwell Automation, is another popular asset management solution that utilizes a mobile app and barcodes or QR codes attached to fixed assets, as well as spare parts and work orders.
…helps companies manage all their maintenance, including thousands of assets, work orders and parts, in one place, with just a few clicks.
In other words, Fiix’s asset management module is part of this broader platform, meaning that some more advanced features are offered in higher pricing tiers.
However, all their pricing plans (including their free version available to a limited but undisclosed number of users) include:
- tracking of an unlimited number of assets, parts, and supplies
- barcode or QR code scanning via mobile app
- unlimited maintenance requests and work orders
As for Fiix’s paid pricing plans, there are three tiers: Basic ($45 per user per month), Professional ($75 per user per month), and Enterprise (custom quote).
It should be noted that their offer does not include the cost of printing barcode/QR code asset tags on materials appropriate for often harsh construction environments.
In summary, Fiix is a cloud software whose features extend beyond strictly fixed asset management, focusing on streamlining all maintenance and lifecycle management processes.
As part of their extensive software suite, Sage Fixed Assets focuses on providing comprehensive tools for efficient asset tracking and lifecycle management.
Again, the principle behind efficiently tracking and managing fixed assets is based on self-generated and printed or ordered barcode labels that can be scanned with any Android mobile device (therefore excluding Apple’s iOS mobile devices).
Alternatively, you can purchase separately charged handheld barcode scanners like the one below.
As for its features, Sage Fixed Assets has four modules that enable you to:
- calculate and monitor fixed asset depreciation for accurate accounting,
- oversee project progress and budget for improved planning,
- track who is using assets via barcode scanning, and
- generate asset-related financial and operational reports.
Here’s how they explain it:
For pricing, you’re asked to request a quote or schedule a demo.
Acute Data does list details about their pricing plans but provides no specific amounts.
In conclusion, Sage Fixed Assets focuses on helping construction businesses adhere to tax rules and accounting standards while also enabling them to keep track of asset users and other asset management workflows.
Fishbowl is a fixed asset management software that uses barcode scanning to enable tracking of your inventory, warehousing, or manufacturing workflows.
As such, it is not exclusively focused on the construction industry but can be efficiently used if you get rugged barcode tags for fixed assets exposed to the construction environment to prevent damage and frequent replacements.
Their solution includes special mobile barcode scanners or a mobile app with a built-in scanner called Fishbowl Advanced Mobile, previously known as Fishbowl GO.
To quote them:
The best user experience is achieved using a handheld Android scanning unit, and for part-time use Fishbowl GO can be used on an IOS or Android Smartphone.
Other than asset tracking, Fishbowl’s features include inventory control and purchase orders, which can be used for streamlining the procurement of spare parts, supplies, and materials needed for your fixed assets.
Naturally, this barcode-tracking system can be used to track other items like construction materials or, in the case of manufacturing companies, products they’re selling.
This is why Fishbowl also includes the Sales module for automating the management of sales orders and tax invoices.
As for pricing, their offer (cloud or on-premises software) is based on a minimum of two users and unlimited assets, paid monthly or annually.
For more complex asset tracking and management needs, Fishbowl offers company-specific implementation packages at a one-time cost.
To recap, Fishbowl can be effectively used for tracking and managing fixed assets, as well as other items involved in construction, manufacturing, and warehousing operations.
We hope that this overview of top-rated fixed asset management solutions gives you a good starting point for creating a shortlist of candidates for further research, quote requesting, demo scheduling, or free trialing.
When deciding, you should focus on what asset management features you actually need for your construction company, such as rugged asset tags with automatic location updates, and how easy the software is to set up and use.
Naturally, affordability also plays a role, as does the provider’s customer support and end-to-end service.
Finally, remember that the right software can transform your asset management workflows, by ensuring accurate record-keeping, improving maintenance practices, increasing worker accountability, minimizing theft, and maximizing productivity.