10 Best Tool & Asset Tracking Software in 2026

When your business depends on high-value tools spread across vans, sites and teams, staying in control isn’t always easy.

Sometimes tools go missing. Sometimes they’re simply in the wrong place at the wrong time. Either way, the impact is the same: delays, disruption, avoidable replacement costs and time wasted searching instead of working.

That’s why more UK teams are adopting tool and asset tracking software - not as a ‘nice to have’, but as a practical way to keep equipment visible, accountable and available when it’s needed.

Even without theft, small inefficiencies quickly add up. A tool that’s left behind, a missing piece of equipment, or uncertainty about what’s in stock can slow teams down and create unnecessary admin.

With so many options on the market - from specialist tracking providers to OEM tool ecosystems - choosing the right platform can feel overwhelming. 

To help you choose the best tool and asset tracking software for your needs, we’ve compared 10 platforms based on practical features, operational fit and ease of use.

Methodology: How We Compared the Top Tool & Asset Tracking Software

We assessed each tool and asset tracking platform using the criteria teams typically care about most - visibility, ease of rollout, day-to-day usability and how well the system supports loss prevention and audit-ready tracking.

Our comparison reflects practical needs, not just feature checklists, so you can find the top asset tracking software for your operations.

Top 10 Tool and Asset Tracking Software Compared

1. ABAX Locator: Best for UK and European teams managing tools and assets across vehicles, sites and shared teams

 ABAX Locator is designed for businesses that want practical control of tools and equipment across vehicles, sites and teams - without heavy rollout or complex admin. It uses Bluetooth tracking and a mobile-first platform to help teams locate tools and assets faster, reduce time spent searching and improve accountability across day-to-day operations.

For more structured setups, ABAX Locator can also support Site Operations when used with a Hub, enabling wider visibility of tagged tools on-site. And with an open API, ABAX can integrate with wider workflows and connect with selected OEM data sources - helping teams bring tool visibility into the systems they already use.

• Strengths:
  • Bluetooth tool tracking with a mobile-first experience
  • Quick rollout and intuitive setup
  • Geofencing and alerting for unexpected movement
  • Scales into Site Operations visibility using a Hub
  • Open API and selected OEM data connections for integrations

• Considerations:
  • Bluetooth-only tracking 
  • Site Operations visibility requires Hub setup

• Typical pricing model: Subscription

• Ease of use: Very High – plug-and-play rollout with minimal training

Read more about ABAX Locator or check out our Price Wizard.

2. Hilti ON!Track

Hilti ON!Track is a tool and asset management solution designed primarily for construction environments, where tools and equipment are frequently moved between jobsites, storage locations, and teams. It focuses on structured inventory control, helping businesses understand what tools they have, where they are assigned, and who is responsible for them.

The platform is particularly well suited to organisations that already operate heavily within the Hilti ecosystem. It supports jobsite-based allocation, tool assignment, and digital asset records, making it easier to manage responsibility and reduce time spent manually checking inventories.

• Strengths:
  • Structured tool inventory and assignment workflows
  • Jobsite-level visibility and responsibility tracking
  • Designed specifically for construction environments

• Considerations:
  • Best suited when a large proportion of tools are Hilti
  • Less flexible for mixed-brand or non-construction asset types

• Typical pricing model: Subscription (often structured around users, tools, or projects)

• Ease of use: High

Best for: Construction teams already invested in Hilti tools who want structured tool control and clear jobsite accountability.

3. Milwaukee ONE-KEY: Best for Milwaukee-standardised trade and service teams.

Milwaukee ONE-KEY is an OEM tool ecosystem designed around visibility and management for supported Milwaukee equipment. It’s most effective for teams that are already standardised on Milwaukee and want a straightforward way to improve tool oversight without introducing a separate asset tracking platform.

• Strengths:
  • OEM ecosystem for supported Milwaukee tools
  • Practical inventory visibility for trade teams
  • Simple way to build tool records and control

• Considerations:
  • Less suitable for mixed-brand inventories
  • Feature value depends on which tools are supported

• Typical pricing model: Varies by device/tool support

• Ease of use: High

4. DEWALT Tool Connect: Best for DEWALT tool fleets wanting basic connected visibility

DEWALT Tool Connect offers connected visibility features for supported DEWALT tools and equipment. It can be a useful option for teams already using DEWALT across the fleet, especially where the priority is improving accountability and reducing tool admin -without moving to a full asset management system.

• Strengths:
  • Simple OEM-connected visibility for supported equipment
  • Useful layer for tool oversight for existing DEWALT users
  • Practical for teams who want a light, connected approach

• Considerations:
  • Not a full asset tracking system for complex, mixed inventories
  • Depth varies depending on tool compatibility

• Typical pricing model: Varies based on supported tools and setup

• Ease of use: Medium–high

5. Itemit: Best for SMEs viewing tools and equipment across teams

Itemit is a UK-based asset tracking tool designed for SMEs who want a simple way to create a digital inventory. It’s mobile-first, quick to adopt and works well for teams who need straightforward tool records and quick visibility without heavy setup.

• Strengths:
  • Mobile-first, simple onboarding
  • Flexible asset records and tracking workflows
  • Strong fit for UK SMEs

• Considerations:
  • Real-time location depends on tracking method and setup
  • Less depth for enterprise-level asset control

• Typical pricing model: Subscription

• Ease of use: High

6. Asset Panda: Best for businesses needing structured asset registers and configurable workflows

Asset Panda focuses on records-based asset management, with configurable workflows and strong reporting. It’s well suited to businesses that want structured asset registers, scanning processes and audit-ready tracking - rather than real-time tool recovery. 

• Strengths:
  • Strong reporting and asset records
  • Flexible workflows and configuration
  • Good for audit trails and internal control

• Considerations:
  • Not designed around live tool location/recovery
  • Setup can be more involved depending on workflows

• Typical pricing model: Subscription

• Ease of use: Medium–high

 7. ToolWatch (Align Ops): Best for construction and industrial firms managing complex tool movement

ToolWatch is designed for construction and industrial teams managing large tool inventories across warehouses, worksites and job allocations. It’s particularly useful where tools are frequently moved between storage and projects and teams need structured oversight.

• Strengths:
  • Strong warehouse-to-jobsite allocation tools
  • Suitable for equipment-heavy operations
  • Deep construction-oriented workflows

• Considerations:
  • Heavier system than simple asset tracking tools
  • Rollout may require training and process change

• Typical pricing model: Quote-based / subscription

• Ease of use: Medium

8. Timly: Best for mid-sized teams needing lifecycle oversight and maintenance scheduling

Timly offers asset tracking with a strong focus on lifecycle management, maintenance scheduling and documentation. It’s a good option for teams who want asset tracking to support longer-term control, not just visibility.

• Strengths:
  • Strong lifecycle and maintenance focus
  • Document storage and structured reporting
  • Modern UI with scalable asset organisation

• Considerations:
  • Setup required for best value
  • Integrations may vary depending on your tech stack

• Typical pricing model: Subscription

• Ease of use: High

9. FMIS Asset Tracking: Best for public sector and compliance-led organisations managing structured asset registers

FMIS is often used in compliance-led environments where asset registers, audit trails and structured reporting are essential. It’s a strong fit where the priority is formal tracking and evidence, rather than live tool recovery.

• Strengths:
  • Audit-ready record keeping and reporting
  • Strong lifecycle management options
  • Suitable for compliance-heavy organisations

• Considerations:
  • Less focused on live location tracking for tools
  • Interface may require onboarding for best use

• Typical pricing model: Subscription / quote-based

• Ease of use: Medium

10. TrackAbout: Best for businesses managing returnable assets (RTIs) such as cages and containers

TrackAbout is a specialist platform designed for organisations managing returnable and circulating assets - including delivery cages, containers, cylinders and reusable transport items. It’s particularly relevant when assets move between sites, suppliers and customers and you need better chain-of-custody control.

• Strengths:
  • Strong chain-of-custody and circulation tracking
  • Designed for returnables and high-volume asset movement
  • Useful audit trails and reporting structure

• Considerations:
  • More niche than general tool tracking platforms
  • Less relevant if your focus is mainly handheld tools on vans

• Typical pricing model: Quote-based / subscription

• Ease of use: Medium

What are the benefits of using tool tracking software?

Tool and asset tracking software can significantly improve how businesses manage tools, equipment and mobile assets. When implemented properly, it reduces loss, removes unnecessary admin and helps teams stay productive - especially when assets move between vehicles, people and sites.

1. Preventing tool loss

The best tool and asset tracking software improves visibility using Bluetooth tags, QR/barcode scanning or connected OEM tool systems. Many platforms also support alerts for unexpected movement or geofence events - helping teams act faster when something isn’t where it should be.

2. Increasing productivity

Even small delays add up. If teams spend a few minutes each day trying to locate equipment, that quickly turns into hours of wasted time across a month - and disruption that impacts job completion and customer schedules.

A mobile-first system helps field teams locate tools faster, reduce downtime and keep projects moving.

3. Enhancing compliance

Many platforms support compliance by improving record keeping - including digital inventories, assignment logs and historic tool records. This can be valuable for audits, insurance documentation and internal controls.

4. Reducing operational costs

When the right tools are consistently available, projects run smoother. Over time, better asset visibility helps reduce duplicate purchases, improve utilisation and tighten day-to-day cost control.

For the construction sector, these improvements can have major impact. See more on the benefits of tool tracking in construction.

What features to look for in the best tool tracking software

The best asset tracking software will reduce loss, automate inventory and enhance visibility across your operations. Here’s what to look for when considering your options:

1. Smart assignment

Smart assignment helps teams allocate tools to vehicles, sites, jobs, or individuals - improving accountability and reducing avoidable “missing tool” disruption at the start of a shift or job.

2. Alerts & notifications

Alerts like geofence exits, movement notifications, or inactivity warnings can help teams respond faster and prevent avoidable loss.

3. Historical usage & audit trails

Audit-ready platforms provide a clear history of tool status and movement. This makes it easier to understand where assets have been, how they’re used and whether controls are being followed.

4. Mobile app for field use

A strong mobile app is essential for adoption. It allows teams to check assets quickly, update statuses on the move and confirm where tools are without needing desktop admin support.

How to choose the right tool and asset tracking software for your needs

Choosing the best tool and asset tracking software isn't just about fancy features, it's about finding a platform that aligns with how your business operates. Whether you're managing construction sites, service vans, or utility assets, your needs will vary. 

1. Understand your operational complexity

Do you operate across multiple sites, vehicles, or teams? Choose software that can scale without becoming difficult to manage and that can support both simple and complex operations with minimal configuration.

2. Consider compliance and audit readiness

If your industry requires frequent audits or insurance documentation, prioritise solutions with automated logs, reporting functionality and historical usage data.

3. Balance budget against value

Not all tool tracking software delivers the same ROI. The best asset tracking software should help recover lost tools, cut downtime and eliminate duplicate purchases, saving far more than its cost.

Find out more by requesting a quote.

4. Evaluate scalability and integration

You need to be asking the following questions. Can the solution grow with my business? Can it integrate with my current fleet, workforce, or project management tools to provide end-to-end visibility across vehicles, tools and job sites?

ABAX Locator: Your tool and asset tracking software solution

Choosing the right tool and asset tracking software can transform how your business protects, manages and uses its equipment. Whether you're a small team or an enterprise, the right system offers visibility, fewer losses and better project control. 

By focusing on features that align with your day-to-day operations, you’ll be well-positioned to make a confident investment. 

Get a clear price and rollout plan: Request a quote