What is the main and most important objective of the fixed asset management function?

Organizations of all scales, be it small, medium or large-scale, harbor assets that are acquired for long-term use. Known as fixed assets, they play a major role in determining the value of a company, how much revenue it can generate and more. These assets include resources such as land, buildings, office furniture, IT equipment and more.

As businesses depend on fixed assets for a variety of operations, it is crucial to take effective steps to ensure that they are available when they are required and maintained in the best condition.

Fixed Asset Management software

Fixed asset management helps keep an account of the number of fixed assets in an organization and also keeps a check on their whereabouts, physical condition and other details like when they were purchased and more. By employing a fixed asset management solution, preferably a software application, you can efficiently manage various aspects of your fixed assets like:

Knowing where they are at any given time
View service history
Schedule maintenance services
Know their ages
Transfer them to individuals and departments
Stay ahead of their expiry dates in terms of insurance, warranty and AMC

With a fixed asset management software, you will be able to increase the longevity of your assets, improve asset value and eventually generate more revenue. If you’re looking for best fixed asset inventory management software solution, then I highly recommend SmartAMS from SmartPoint.

Comments

What are the functions of software asset management?

In today’s digital world, it is inconceivable to imagine a business organization that operates without the use of technology. In order to gain full control over modern tech solutions, companies use software tools to perform a wide range of business functions. Be it the automobile industry, healthcare industry, education or any other industry. All of them use IT resources, which includes software. Software solutions help organizations efficiently carry out their everyday activities. They require proper management so that they are always in working condition, and available whenever required. By installing a software asset management tool in the workflow, you will be able to efficiently perform the following functions: Assess what software services you need to improve your operations. Keep track of software license expiry dates. Keep your software services up-to-date. Manage software service requests by employees. Regulate who uses your software services. Ensure that your software s...

What Is Facilities Asset Management?

In this article, we discuss what facility assets are, what managing them means, and why you should use a facility asset management software solution. Let’s get started. What are facility assets? Regardless of what domain your company belongs to, you will have several resources that fall under the facility asset category. These assets underpin business activities. It takes a substantial investment to acquire them and incurs additional operating costs as you begin to use them. Here’s an example of some assets that are termed facility assets: HVAC systems Lighting fixtures Electric appliances Plumbing systems Buildings Infrastructure Vehicles After the initial purchase of these assets, they depreciate in condition and value over time. You will need to maintain and replace your assets at some point in their life cycles. When such moments arrive, it is a smart move to ensure that you do it in a streamlined manner. What is facili...

Asset Management Software

Search This Blog