Why Free Fixed Asset Software Isn’t Cost Effective

As a construction company, you have many fixed assets you need to track. It might seem like the most cost-effective way to track those assets is to use a free fixed asset software program. While you might save money in the short term, the long-term consequences might outweigh that benefit.

Take time to consider these downsides before going with a free solution.

Some Fixed Asset Solutions Are Limited

Software developers who distribute free programs don’t stand to benefit from the installation of their product. Because of this, they are less inclined to provide helpful characteristics in their software. What you see is what you get when it comes to free fixed asset tracking programs. If you need another feature that isn’t included, you’re out of luck.

Errors Are More Common in Free Fixed Asset Software

Free software programs also tend to go through less rigorous bug testing than commercial software products. You might encounter issues in the code or user interface that makes the solution completely unusable. Your data could also become corrupted if you aren’t careful. Even if you can find the creator of the software, chances are high that you won’t be able to get the support you need to fix the issue.

Your Team Has a Harder Time Keeping Track of Asset Locations

If you’re using a spreadsheet to keep track of your fixed assets, it’s unlikely that you’ll be able to get asset location updates in real time. GPS technology can be costly and difficult to implement. Free software is unlikely to include advanced features like a real-time location. And if you aren’t able to update asset location regularly, your equipment and tools are more likely to get lost and slip through the cracks.

Limited Asset Data Fields Leave Your Database Incomplete

Limited features make it difficult for you to store the relevant asset information in your database. If you can’t record data like asset value, make, model, manufacturer, expected life cycle, and maintenance records, your asset management solution is incomplete. Free fixed asset software only has the space to record specific types of information, and if you need something that isn’t provided, your business is out of luck. This means your company won’t have the information necessary to make sound asset management decisions.

Asset Panda has created a fixed asset software solution that will help you avoid all these issues. Having an incomplete asset tracking program can cost you in many ways. Losing track of assets means you have to purchase replacements, which can get costly fast. With Asset Panda, you’ll know exactly where your assets are at any given time. Our software comes with customizable fields, so you can record all data relevant to your fixed assets. You can also add on industry-specific modules to make sure you get all the features your company needs for your asset tracking management system.

Check out how this field construction company uses Asset Panda to track their tools and equipment and automate their reporting process. They’re able to keep their client demands straight and better complete work tasks because they know where their tools are at any given time.


Want to try Asset Panda to see what features are available before you commit to purchasing it? Sign up for a free 14-day trial today!


Bree Brouwer

Bree has held plenty of media- and marketing-related jobs over the years now, like working as a PR and marketing assistant to a Hollywood screenwriting coach, and writing content for three different digital marketing agencies.

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