The Main Audit Procedures to Verify the Fixed Assets The fixed asset audit procedures are for those assets that are expected to last more than just a year such as land, buildings, assets, and equipment. Fixed assets are primary resources for the business. Asset audit is necessary to do once a year to update all…
Several organizations do not keep track of work orders, as a result, their productivity suffers. Therefore, work order tracking is very important for organizations to keep their productivity up all the time. For efficient work order management, asset management software can help. It can provide tremendous assistance to the work order supervisors, managers, directors, and decision-makers…
5 Reasons Why You Need to Invest in Asset Tracking (AsseTrack) Software Asset management activity has grown immensely thanks to the successful asset management technology and the benefits it has brought about for organizations of every size and scale. According to Statista, “The global market for fixed asset management software is forecast to grow from 3…
What Are the Benefits of Tracking Depreciation with AsseTrack Software? Most of the organizations do not take depreciation tracking with AsseTrack Software seriously as a result their bookkeeping is not accurate. Moreover, it also impacts in tax reporting. When you try to maintain a perfect record for depreciation tracking of assets manually, you will not…
Does Asset Management Saves Money Via Capital Asset Depreciation? Fixed asset management is one of the most beneficial activities for the business. You may ask, how? If asset management is done in the right way then you will notice great savings in your expenses. Especially growing companies, when the business is growing, they struggle in…
How Fixed Asset Management Software Can Be Utilized to Avoid Disaster? A natural disaster can occur anytime anywhere in the world and most of the time they are inevitable. These disasters can damage human lives, transport, property, etc. Other than natural disaster there is a man-made disaster as well, which are more harmful to human…
Big businesses need to operate and maintain a huge quantum of assets to continue their activity, whether these are IT assets, plant equipment, machines, or regular consumables/inventories. Assets are thus required to run the business. The real issue is when it comes to growing the business. The answer is actionable data, intelligent information, and analytical…
A few years back, an asset management spreadsheet was utilized for asset tracking. But organizations realized it was not effective on a big scale. However, assets are costly and they need to be monitored so that their investment on assets is safe. So, asset tracking software emerged as an alternative for asset tracking. The spreadsheet…
What Is Asset Management? Asset Management is the process of managing and monitoring assets efficiently. Basically, its main function is to track and records assets across their entire life cycle. It offers actionable data to the organization like where each and every asset is located, who the user is and how it is being utilized…
Asset Management is an essential process to manage an organization’s hardware asset and inventory. It is the process of strategic planning for an organization and its environment, for its cost savings and other important benefits. The asset management system allows your business accounts to manage and monitor various types of assets, such as computers, furniture, and fixtures, machines, equipment, or…
