Fixed assets management is an accounting process that seeks to track fixed assets for the purposes of financial accounting, preventive maintenance, and theft deterrence. Organizations face a significant challenge to track the location, quantity, condition, maintenance and depreciation status of their fixed assets.
Asset management software is a fixed asset software for monitoring assets and tracking fixed assets for the entire life cycle from procurement to disposal.
AsseTrack Fixed Asset Management Software is a modern application which allows to easily track, organize, maintain, and retain the value of assets. An asset management system manages your organization’s assets with your specific procedures. This tool tracks an asset right from the day of purchase, thus providing detailed analysis and history. Asset Management Software also helps reclaim warranties, thus doubling as a financial management application.
AsseTrack Asset management software is an invaluable business tool that helps track your assets as well as inventory throughout their entire life. It is inclusive of a comprehensive database that comprises all the details of your assets, which ultimately enhances your asset management and maintenance management.
Fixed Assets management software is a system that automates the financial tracking of assets in different stages of the asset lifecycle. The software helps in the management of the assets, improves efficiency and help in financial arrangements of by avoiding unnecessary equipment purchases. Fixed assets management software provides important details such as check-in and checks outs, a location of the assets, depreciation, audit, maintenance schedule, date of return of the assets among
The software is automated helps an organization to improve on tax planning. Furthermore, Fixed assets management software assist with the most unexpected repairs and other issues with the property. The software reduces labor cost by automating the calculation of assets depreciation which may be costly when done manually. Simply, fixed assets management software us a tracking technology which plays a vital role in financial reporting.
Why Use It?
Here are the benefits of Asset Management Software:
- Track assets and modify asset records easily
- Easily configure various levels of user access yourself
- Track all asset-related information in real time
- Track financial, contractual, and inventory details of hardware and devices, IT and non-IT assets throughout their lifecycles
- Perform regular audits, right up until asset retirement
- Optimize asset lifecycle investments, delivering better services
- Reduce asset costs and automate asset lifecycle processes, minimizing wasted resources and eliminating repetitive tasks
- Mitigate risk with proven change management processes
- Enforce asset policies and regulatory requirements
- Identify excess costs of assets throughout their lifecycle
- Prevent lapses in coverage by notifying contract owners of renewal and expiration dates
- Track fixed business assets, services, vendors, and contacts
- Have access to details needed to justify budget decisions
- Measure targets and determine possible improvements
- Reduce downtime, increase equipment life, and improve replace or repair decisions
- Save money and reduce administrative resources
- Report on aspects of the inventory by different classifications easily
- View and reuse assets in storage
- View the reliability of assets by manufacturer, model, and user
- Increase asset reliability through scheduled maintenance and proactive detection of unwanted changes
- Automate preventive maintenance tasks
- Create maintenance requests and assign work orders to technicians
- Maximize utilization and value of assets
Other Benefits of AsseTrack Fixed Asset Management Software:
- Helps you better understand your assets, which enhances decision making and scheduling
- Improves operations, which helps reduce waste and eradicate repetitive tasks
- Enhances maintenance procedures as well as other asset policies
- Promotes asset documentation by providing organized and detailed records, which is essential during warranty and insurance tussles
- Ensures improved utilization of your assets
- Boosts asset inventory management through promoting physical verification procedures
- Guarantees automated asset inspection and record modification procedures
- Allows real-time monitoring of data
- Helps measure workforce productivity