If asset management is part of your business and you’ve ever lost track of a piece of equipment, struggled with outdated asset records, or been hit with unexpected maintenance costs, you know how frustrating it can be. That’s where asset management software comes in.

For architecture and engineering (A&E) firms, keeping tabs on everything can feel like an endless battle. Assets move between job sites, get used by different teams, and require maintenance at the worst possible times. Without the right asset tracking system, things slip through the cracks. And when that happens, you’re left scrambling, wasting valuable time and money trying to fix the problem.

The good news? Asset management solutions exist to keep your operations running smoothly. Let’s dig into what they do, why they matter, and how to choose the right one for your firm.

What Is Asset Management Software?

Think of asset management software as your firm’s command center for tracking and managing all your assets. It’s all about knowing where your assets are, who’s using them, how they’re performing, and when they need maintenance. For A&E firms, asset visibility is everything. You have multiple projects running simultaneously, each requiring different tools and materials. If you’re not tracking them, you’re wasting money.

Who Needs Asset Management Software?

Short answer? Anyone who owns business assets.

Longer answer? If you manage high-value assets, work across multiple locations, or rely on specialized equipment, an asset-tracking system is a must.

A&E firms are a perfect example because they have:

• Multiple Job Sites – Equipment is constantly moving. One day, a total station is on a site in Dallas; the next, it’s in Austin. If no one logs the transfer, it’s “lost.”
• Expensive Equipment – We’re not talking about a $50 office chair. We’re talking about high-tech equipment that costs thousands. Keeping track of it assets and tools is critical.

Learn more about the engineering industry with our blog on asset management for engineers.

However, it’s not just A&E firms. Construction companies, manufacturers, and IT departments also deal with asset chaos. If you’re still managing assets with Excel lists, it’s only a matter of time before something goes wrong.

The Benefits of Asset Management Software

There are several benefits to using asset management software, whether you’re a small business or a large corporation. Some of these include:

Cost Savings

Unexpected expenses add up fast. When equipment fails unexpectedly, you lose valuable time waiting for replacements or workarounds. Accurate tracking and maintenance scheduling help businesses avoid costly repairs and replacements by keeping assets in peak condition.

Improve Asset Utilization

It’s easy to underuse—or overuse—assets when you don’t have a clear picture of how they’re being used. Asset tracking software helps businesses use various assets more efficiently, making sure that every piece of equipment and every tool is being used to its full potential. This reduces waste, maximizes output, and ensures you’re getting the most value out of your business assets before needing replacements.

Increase Efficiency

Nobody has time to sift through Excel lists or guess where a piece of equipment is. With a cloud-based asset management system, you can keep track of assets in real-time. Streamlined asset management processes save time and resources by eliminating manual data entry and reducing administrative burdens. Whether you’re managing job sites, tracking new assets, or handling service requests, automation ensures that nothing slips through the cracks.

Improve Maintenance

Equipment downtime is one of the biggest headaches in any industry. Regular equipment tracking and maintenance scheduling help businesses stay ahead of potential failures by logging asset history and tracking upcoming service needs.

With the right asset tracking system, businesses can prevent unexpected downtime and costly repairs, ultimately saving time and money. Read more about this in our blog about how to reduce equipment downtime for A&E firms.

Regulatory Compliance

If your industry has strict safety and regulatory standards under OSHA or any other governing body, staying compliant is non-negotiable. Cloud-based asset management software helps businesses adhere to safety standards by ensuring proper inspections and routine maintenance are logged and completed.

Compliance with industry regulations can:

• Reduce the risk of accidents and injuries.
• Prevent potential lawsuits and fines.
• Protect your company’s reputation.

Failing to maintain critical assets can lead to serious legal and financial risks.

10 Features You Should Look for in Asset Management Software

If you’re looking for a powerful solution to track and manage your business assets efficiently, focus on features that truly make a difference. Here’s what a well-built system should include:

1. Comprehensive Asset Tracking

Knowing where your critical assets are at all times is essential. A strong asset tracking system allows businesses to monitor asset locations, conditions, and usage across different departments, offices, or job sites. This reduces loss, improves accountability, and makes sure assets are available when needed.

2. Full Asset Lifecycle Management

From acquisition to disposal, tracking an asset’s entire lifecycle is key to making informed financial and operational decisions. Businesses need visibility into asset history, usage patterns, maintenance records, and depreciation calculations to plan ahead.

3. Depreciation and Financial Management

Keeping up with asset depreciation is critical for tax reporting and financial planning. Built-in depreciation tracking allows businesses to automatically calculate depreciation and amortization for financial reports, helping them stay compliant and make cost-effective decisions.

4. User Management and Access Control

Not everyone in the entire organization needs the same level of access to asset data. A user-friendly system should allow administrators to control access levels, ensuring only the right people can add, update, or remove asset records. This helps maintain data integrity and improves security.

5. Detailed Reporting and Analytics

A solid management software solution should offer custom reports that allow businesses to analyze asset performance, identify trends, and detect potential issues before they escalate. Whether tracking equipment usage, financial reports, or historical data, access to real-time insights is crucial for decision-making.

6. Seamless Integrations with Other Business Systems

Asset tracking software works best when it integrates with accounting software, purchase orders, and other business management tools. This makes it so that all departments are on the same page when it comes to financial planning, equipment tracking, and procurement.

7. Automated Notifications and Alerts

A good system keeps track of important updates. Automated notifications ensure that asset managers receive timely alerts about upcoming maintenance, expiring warranties, and other critical events that require action.

8. Check-in and Check-out Tracking

For businesses that share assets across multiple users or locations, a check-in/check-out system is essential. This feature makes it so that asset usage is properly logged, reducing loss and preventing unauthorized use.

9. Scalability for Growing Businesses

As businesses expand, so do their asset inventory and tracking needs. A scalable system should be flexible enough to handle increasing asset volume, whether a company is managing a handful of IT assets or thousands of business assets across multiple locations.

10. Audit and Compliance Tools

Regular audits help businesses stay compliant with internal policies and external regulations. A detailed reporting system should provide audit-friendly logs of asset history, changes, and usage, making compliance checks simple and stress-free.

Which is the Best Asset Management Software?

Most asset management solutions focus on tracking assets—but for architecture and engineering firms, that’s not enough. Managing high-value equipment, IT assets, and financials requires a system that connects asset data with project management and accounting, providing a clear picture of how assets impact operations and budgets.

Deltek Vantagepoint is built for project-driven businesses, offering real-time visibility into assets, project costs, and financials—all in one system. Instead of juggling spreadsheets and separate tools, A&E firms can track assets, manage depreciation, and link equipment to active projects with ease.

Purpose-Built for A&E Firms

General asset tracking tools aren’t designed for fast-moving, project-based environments. Vantagepoint helps firms track surveying tools, IT assets, and construction equipment, keeping everything connected to project budgets and timelines.

Connected Asset and Project Management

Knowing where an asset is is important—but knowing how it fits into a project is what really matters. Vantagepoint links business assets to projects, ensuring the right equipment and tools are available when needed, preventing unnecessary purchases, and keeping project budgets under control.

Automated Depreciation Tracking

Spreadsheets don’t cut it when tracking asset depreciation. Vantagepoint automates the process, helping firms stay on top of financial reporting and tax planning while making informed decisions about repairing or replacing assets.

Integrated Financial and Asset Reporting

Tracking assets and financials separately creates inefficiencies. Vantagepoint connects asset tracking with financial reports, helping firms analyze costs, forecast expenses, and optimize budgets—all without manual data entry.

Check-In, Check-Out, and Asset Assignments

Lost equipment delays projects and costs money. With built-in check-in/check-out tracking, firms always know who has what, where it is, and when it’s due back, reducing loss and improving accountability. Learn more here about Deltek Vantagepoint’s asset management tracking.

Customizable Reports and Dashboards

Every firm manages assets differently. Vantagepoint’s custom reports and dashboards give real-time insights into asset usage, performance, and costs, helping teams spot issues before they impact productivity.

Seamless Integration with Accounting and Project Systems

Vantagepoint eliminates data silos by integrating asset management, project tracking, and accounting, keeping everything aligned and reducing errors caused by disconnected systems.

Role-Based Access and User Permissions

Not everyone needs access to financial data or asset history. Vantagepoint allows firms to set user permissions, keeping sensitive information protected while giving project teams access to job site resources.

Automated Alerts and Maintenance Tracking

Unplanned downtime slows projects and increases costs. Vantagepoint provides automated maintenance reminders, keeping critical assets operational and helping teams plan ahead for repairs and replacements.

Scalability for Growing Firms

As firms expand, asset management becomes more complex. Vantagepoint is built to scale, handling everything from a few IT assets to thousands of high-value assets tracking across multiple locations.

Vantagepoint goes beyond asset tracking software—it gives A&E firms a complete picture of assets, costs, and availability while integrating with project and financial management tools. Instead of reacting to missing equipment or unexpected expenses, firms can plan ahead, control costs, and keep projects moving efficiently.

Conclusion on Asset Management Software

From preventing unexpected downtime to optimizing asset utilization and maintaining compliance, the right asset management software reduces costs, improves efficiency, and makes sure critical assets are always available.

For firms looking for an asset management solution designed specifically for project-based businesses, Deltek Vantagepoint is a strong choice. It connects asset tracking with financial reporting, project workflows, and real-time data insights, helping teams eliminate inefficiencies and improve accountability.

If you’re interested in Deltek Vantagepoint and want to see how it can work for your business, BCS ProSoft can help. Our team specializes in implementing and optimizing Deltek solutions, making sure you get the most out of your asset management strategy.

Key Takeaways

• Asset Management Software: A tool to track and manage assets throughout their lifecycle.​
• Who Needs It: Organizations across various industries, especially those with high-value assets.​
• Benefits: Improved tracking, enhanced maintenance, accurate financial reporting, increased efficiency, and cost savings.​
• Key Features: Comprehensive tracking, lifecycle management, maintenance scheduling, depreciation management, user-friendly interface, and integration capabilities.​
• Deltek Vantagepoint: A prime choice for A&E firms, offering a cloud-based, comprehensive asset management solution.

Frequently Asked Questions