Asset management continues to be one of the primary concerns of organizations all over the world, since assets drive business, modern companies rely heavily on physical assets to continue effectively, while asset management process also helps companies derive more value from an asset and achieve business goals. the job.
What is fixed asset management?
Asset management is the process of planning and controlling the acquisition, operation, maintenance, renewal, and disposal of organizational assets. This process improves the deliverability of assets and reduces the costs and risks involved. Adequate maintenance and appropriate deployment of systems, people and processes ensures positive capital enhancement over the asset life cycle.
Fixed asset management is the process of tracking and maintaining an organization's physical assets and equipment. Organizations frequently use barcodes, QR codes or RFID codes to help track their assets as they are easy to scan and use with mobile devices. Asset types include vehicles, computers, furniture, and machinery.
How does fixed asset management work?
Fixed asset management software works by allowing you to register individual asset profiles. These profiles are unique and mirror assets. So, if you're using a fixed asset management system to manage your IT assets, each laptop, phone, and computer will have their own profile.
After that, you will be able to tag physical assets with asset tags. This way you will be able to speed up the edits on the asset data and maintain the fixed asset register in a better and more transparent way.
Each time you scan an asset's tag, the last seen location will be refreshed as well as the user who scanned the tag, and the asset's profile will open, ready for editing.
Features of the fixed asset management system from fekrait Software
Asset management software makes it easy for you to keep track of the multiple aspects involved in the process. Below we mention some of the benefits provided by the fixed asset management system from fekrait Software, otherwise its benefits are many:
1. Store all data related to assets
Not only can asset management software store information for you, but it can also organize it in a way that is easy for you to look at when you need to find specific asset data quickly.
2. Facilitate audits and preparation of reports
When your company faces an audit, you need to be ready to provide asset information at a moment's notice. If you don't have this information ready in advance, your team may be left scrambling to get it together and may end up doing a substandard job. However, already compiling this information into a database will make it easier for you and relevant departments to put together reports on assets and quarterly valuations.
3. Allocation of assets
Fixed asset management software shows you where your assets are at any given time and helps you identify teams that need assets on any given day. Having all your information in one place allows you to schedule equipment usage and makes sure no one is left without the tools they need to get the job done.
Fixed assets stay in top condition when managed properly
By using the Asset Management System from fekrait Software, organizations can also:
- Fixed asset tracking and monitoring
- Overseeing equipment and machinery at multiple locations
- Lower maintenance costs
- Improve operational efficiency
- Maintain a record of retired, sold, stolen or lost assets
- View fixed asset history of what you own
- Preserving your fixed assets
- Monitor how your assets are used and where they are located
- Make better business decisions from fixed asset data