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Best Asset Audit Software for Every Use

Recently, an asset audit made headlines when the US Department of Defense reported that they were only able to account for 39% of their $3.5 trillion worth of assets.

Your average business isn’t dealing with assets on the same scale—not even close. But that doesn’t mean asset audits aren’t important!

In this article, we’ll be introducing you to the asset audit process—what it is, why it’s important, and what tools can help make it easier (including BlueTally, of course).

Ready to get a handle on your business’ assets? Let’s get started.

What is an Asset Audit?

At its most basic, an asset audit is the process of physically tracking down every asset (or at least every asset in a specific category) that your business owns.

Performing an asset audit is usually a process of running down a checklist of assets generated by your asset management software and ensuring that:

The asset is still owned.
The condition, location, and quantity of the asset are accurately recorded.

Asset audits can either be external (i.e., conducted by third-party organizations) or internal (i.e., conducted by trained team members). Both internal and external asset audits (but especially internal) are made much easier by asset audit software.

Why Is Asset Audit Software Important?

Reduce the Need for In-Person Verification

When you have lots of assets spread out over lots of locations, the process of traveling to each location to perform an audit can be tedious and time-consuming.

Asset audit software eliminates much of the need for in-person verification by giving anyone in your organization the ability to audit assets in their location, with the results added to a centralized asset register.

Ensure the Safety of Assets

Asset audits are a great way to build a baseline of safety, security, and compliance in your asset management process. Asset audit software helps you keep tabs on your assets' condition over time. That means quicker fixes and fewer headaches down the line.

Improve Future Planning & Budget Allocation

Last, but not least, asset audits are great for long-term planning and budget allocation. By having an accurate, up-to-date asset audit in your organization, you can better plan for the future by understanding exactly what assets you own and how they’re currently being used. This helps to build a more accurate budgetary picture, giving you greater control over how funds are allocated.

Criteria to Consider When Choosing an Asset Audit Software

Choosing the right tool for the job can be tough—here are some criteria to make it easier:

Accessibility: If your asset audit software isn’t easy to use (once you’ve learned the ropes), you won’t be getting the most out of it. Additionally, it can make onboarding new employees on the use of the system incredibly taxing.
Features: There is a range of features that come in handy throughout an asset audit—from data collection and custom reports to asset tracking and scheduling. Make sure the software you choose offers enough features to meet your audit’s needs.
Budget: Your budget will definitely play a role in the decision-making process.
Scalability: Ideally, you want to find a tool that can adapt to your business’s changing asset audit needs.

5 Best Asset Audit Software

In a rush? No worries—here are the tools we’ll be covering in this guide:

BlueTally: Best Overall Asset Audit Software
ClickUp: Best for Managing Asset Audit Projects
AssetTiger: Best for Physical Asset Tag Users
eMaint CMMS: Best for Manufacturers
Maxpanda: Best for Maintenance Teams on a Budget

But if you’re curious about learning what makes these tools so great, read on!

1. BlueTally

Best Overall Asset Audit Software

BlueTally is an asset management software designed to help asset managers answer key questions quickly, accurately, and easily.

Along with asset tracking features like custom data fields, check-in & check-out, and searchable asset tagging, BlueTally also offers great asset audit features. The system helps you generate accurate reports quickly and easily to ensure that all your assets are accounted for.

Plus, you’ll get reminders when asset audits are overdue, helping you keep on schedule!

Key Features

Audits & Maintenances: Schedule and perform asset audits and maintenance directly from your asset management tool. Get reminders about upcoming and overdue audits to keep your team on track.

Asset Barcodes: Easily create, customize, print, and scan asset barcodes to speed up the process of accounting for assets.

Automatic Depreciation: Monitor decreases in asset value to add an important financial layer to your audits that aid long-term planning.

Checkout History & Detailed Changelog: Keep tabs on who has (and had) every asset in your network so you never need to waste time hunting down assets during your audits.

Pricing

BlueTally offers four pricing plans—Free ($0/month). Unlimited ($29/month), Pro ($69/month), and Business ($99/month).

With the Free plan, unlimited users can track up to 50 assets—perfect for small teams and departments. Unlimited, Pro, and Business all allow unlimited asset tracking, with more expensive plans offering advanced features like SSO and custom permissions.

Still on the fence? Get started with a 14-day free trial and take BlueTally for a spin!

Pros & Cons

Pros

User-friendly interface with customizable workflows.
Easy to pick up.
Unlimited users on all plans.
Customizable groups.
Real-time analytics and reporting.
Robust security features to protect data.

Cons

Limited free tier.
Limited integrations compared to some competitors.

2. ClickUp

Best for Managing Asset Audit Projects

Asset audits usually have a few moving pieces—especially in mid to large-sized organizations.

ClickUp is a great supplement to your asset management software that makes it easy to organize the people, tasks, and timelines associated with the audit. Tons of features, views, and automation combine with a highly flexible UI to make ClickUp a great choice for managing complex asset audit projects.