Asset Panda Review & Alternative: Is this Tool Right for You?

Looking for asset management software to help identify, track and manage your assets? We're going to do an in-depth review of the popular asset management software Asset Panda.

We'll be looking at features and pricing, as well as weighing some of the pros and cons of using Asset Panda. We'll also make a direct comparison with BlueTally, a newer asset management platform that offers similar features to Asset Panda at a significantly much more affordable price point.

After reading this, you should be in a better position to decide which software best suits your needs.

Asset Panda vs BlueTally key differences

While both services have the core features of a functional asset management software, which is to identify, track and manage assets in your business, below are some key differences between the two.

1. Freemium Pricing
   Asset Panda is a paid service. You request a demo and wait for the sales representative to give you a guided walkthrough of the app and configure your demo account. Asset Panda then gives you a 2-week free trial of the account you'd configure during the demo. BlueTally on the other hand is completely free.
   
   BlueTally allows you to try out a live demo instantly and start managing up to 50 assets for free. Some security features are withheld until you start paying though. Being a free app, BlueTally is convenient because you can sign up with no credit card and already start by adding your first asset. If you're importing an asset registry from a spreadsheet or other platform, it's easy to do within seconds by following a few quick prompts.

1. Slack/Teams Notifications
   BlueTally integrates with Microsoft Teams and Slack to allow important notifications to be sent directly into a relevant Slack channel. The team can receive notifications about when assets are due back and when warranties are expiring as well as any upcoming audits. Asset Panda does not have this integration, instead, they have push notifications from the app and emails which get sent to users, which BlueTally also has.
2. API for flexible integrations
   If you want to integrate Asset Panda with other apps or tools, you'll need to communicate with the development team to see if such an integration is possible. BlueTally has the powerful and flexible REST API that lets you integrate with any service that you like. Documentation is available and your developers can work to configure your workflows right away.
3. Signature Capture
   Asset Panda has signature capture to enforce accountability by requesting signatures for checking out equipment and other permissions. BlueTally doesn't have this feature yet.

What is Asset Panda

Asset Panda is a cloud-based asset management software that helps businesses to identify, track and manage assets. Clients include non-profit organizations, government, education, construction, healthcare, and religious institutions among others.

“We're just a really good fit for people who have equipment out in the field that's moving around all the time,” says CEO Rex Kurzius. The software management system enables businesses to replace spreadsheets, expensive software, and barcode readers with a single cloud-based system.

Key features

Let's take a look at some of the key features of Asset Panda.

1. Checkout and Returns
   The checkout and returns feature helps maintain a history of who has what and where. It keeps everyone in the loop with checkout notifications and reminders when assets are due back. The electronic signature feature instills accountability, this is because if someone signs for an asset, they become responsible for it, which makes tracking simple and fast.

1. Maintenance Tracking
   With the maintenance tracking feature, businesses can create a seamless maintenance process. For instance, you can schedule maintenance for equipment to reduce downtime as well as record vehicle mileage and scheduling service. This feature helps to ensure assets will last longer with regular maintenance. End users can submit tickets if assets need repairs and reports can be generated with details of what repairs have been done and the costs involved.

1. Mobile Audits
   The mobile audit feature allows you to schedule, assign asset audits to users and generate reports from your mobile device. Frequent audits help businesses maintain up-to-date records of assets. This way, you're sure that your assets are being put to good use and giving you a return on your investment. The mobile audit feature lets you see which audits are due, which are in progress as well as completed audits.
   

Asset Panda Pricing

Pricing on Asset Panda is not very transparent. They employ a pricing structure based on the number of assets you have.

If you don't know the exact number, the sales representative will help you determine your business size. You have to wait for a custom quote to be generated by the sales rep.

But pricing starts from $1,500 and the average customer pays $2,500 to $3,000. They offer discounts for multi-year, education and non-profit clients. There's a 2 week free trial if you want to try it out first.

Pros and cons

Pros

1. There is an Android and iOS mobile app that comes with a mobile barcode scanner to manage assets from anywhere.
2. Ticketing for repairs helps keep everyone in the loop on the status of asset repairs done.
3. Funding source tracking allows organizations that receive grants to remain compliant by showing asset use and disposal records.

Cons

1. No accounting integration so reports aren't as comprehensive.
2. Pricing is not transparent.
3. Setup can be time-consuming because of the high level of customizations.

Asset Panda alternative: BlueTally

BlueTally is a cloud-based asset management software that lets companies ditch their spreadsheets and start getting in control of their important IT assets (laptops, phones, etc).

According to BlueTally: "Our mission is to make the most user-friendly, easy-to-use ITAM tool on the market, that makes managing your assets as simple as possible. We want IT departments to be able to answer questions like "How many iPhones do we have left?" or "What happened to Emily's laptop?" in a matter of minutes, not hours."

This is an important distinction because companies that are currently using competing software simply have a process for switching systems that is expensive and time-consuming.

Key features

As an alternative to Asset Panda, it's worth noting that Asset panda's key features are also available on BlueTally for a more affordable price. Let's take a look at other features that make BlueTally an attractive solution.

1. Track and manage consumables
   A unique feature that BlueTally has is the option to track and manage consumables. These are your printing paper, ink cartridges, and more. While they may not be considered valuable assets, they contribute to variable expenses and can quickly add up if your business doesn't keep a close eye on things. BlueTally lets you record these as well as the minimum value that can be kept in the office and sends notifications when you're running out.

1. Centralize manufacturers and suppliers
   BlueTally lets you keep important supplier and manufacturer information such as names and contact details of account executives that you deal with, coupon codes, and ordering URLs among other things. You can then see which assets and licenses came from which manufacturer and easily reorder or extend warranties etc.

1. Depreciate assets
   When adding assets to the repository, you'll have the option to input the purchase prices of the assets, the estimated end life of an asset, and the minimum value after depreciation.
   
   Depreciation helps determine the true value of an asset since it's not worth the same amount that you bought it for due to wear and tear. BlueTally calculates depreciation for you and creates a report with updated data to be used when compiling financial statements.

BlueTally Pricing

BlueTally's pricing is clear and transparent. They use a freemium model, and some features of the app are free for businesses with less than 50 assets. The most popular pricing tier is the “Business” option, which costs $199/mo and it includes all the features available on the platform for a flat monthly rate, including unlimited assets and users. Switching to the yearly payment option saves you 2 months' worth of subscriptions for paying upfront and the prices shown below are on the annual plan.

Pros and cons

Pros

1. Saves time and increases productivity by eliminating manual asset management processes.
2. Asset kitting allows you to check-out assets that usually go together.
3. The cloud-based system can be accessed from anywhere and lets you load multiple locations so that you can keep track of assets anywhere without having to travel.

Cons

1. No mobile app.
2. Customer support is only available online with some video tutorials, there's no knowledge base or phone support.

BlueTally vs Asset Panda direct comparison table

Below is a line-by-line comparison to see how Asset Panda and BlueTally stack up against each other.

Why some customers prefer BlueTally

• BlueTally is suitable for small businesses that want to get started with asset management but don't have a big budget to spend.
• With no barrier to getting started and all the features needed to maintain a working asset repository, it's a better choice when you have less than 50 assets because you don't pay anything.
• It's simple and easy to use with an intuitive dashboard where you can get a high-level view of everything, instead of dealing with complex systems with a high learning curve.
• Online support even with the free option is fast and efficient, you'll have a response to your email in less than 3 hours and your queries will be solved by helpful support staff.
• Even though integrations are limited to paid accounts, you can still make do with the basics if what you're looking for is to quickly set up your centralized asset repository and get a feel of the software first.
• Upgrading is only $59 for unlimited assets, which is quite affordable compared to other tools and you don't get punished with exorbitant fees as your business grows.

Key takeaways

Whichever option you choose, you're the real winner for ditching the spreadsheets because as you can see, either tool is better than excel. If you weren't using anything before, welcome to your asset management journey, it's only gains from here, provided you choose the best tool.