In such a hectic world, managing fixed assets is more of a challenge than a business process. As businesses grow, so does its fixed assets and with it comes a great responsibility. Managing and tracking fixed assets is a delicate process and any error can be extremely costly. So, you’re wondering if you need a fixed assets management system, eh? I know that tracking and managing fixed assets is a distressing task that every company struggles with at a certain point and to a certain extent. I’ll tell you a few things and then you decide for yourself if you need one or not. Okay? Good! Let’s get started.
The Cornerstone of Business: Effective Fixed Asset Management
To begin with, fixed assets are the company’s greatest investment. Those are the tools, furniture, equipment, software etc.. and are used on the long term for producing income. And since everyone within the company uses these fixed assets, they roam all over the different departments of the company. So a reliable fixed assets management system should be considered to keep track of these fixed assets and never lose control over it.
The Hidden Costs of Asset Loss: Why a Robust Management System is Essential
Perhaps when a tool or a piece of equipment is lost, its cost is negligible, however, when losses are accumulated, the cost is rather shocking. A fixed assets management system is a software that is integrated to managing and tracking those fixed assets in an automated manner. A fixed assets management system enables companies to track fixed assets they own, fixed assets’ locations, to whom it’s consigned to, when was it checked out, maintenance schedules, depreciation etc.
Fixed assets management systems differ from one to another, some integrate barcodes and the others integrate RFID to automatically identify and track their fixed assets in real-time. Both focus on improving resource optimization and reducing costs. When organization integrate a fixed asset management system, they can reduce asset auditing efforts whilst enhancing the accuracy of the asset inventory which in return saves a substantial amount of money in terms of unnecessary equipment losses or unnecessary duplicate purchases. When the fixed assets that are being tracked are used in the production of goods for end users, the value increases as the quality is improved too, this means happier customers & overall improvement of the bottom line.
The Power of Data: How Fixed Asset Management Mitigates Risk and Drives Efficiency
Furthermore, by tracking important documents, companies with avoid facing major legal actions in case of losses. Moreover, a fixed assets management system enables an accurate and a precise track of your fixed assets, due to the fact that all information of the fixed assets are recorded on a database where the manager can preview the location, status, maintenance information, ensure accurate depreciation calculation (to avoid paying more money) etc.. Also when you have an accurate data about the fixed assets, ghost assets will no longer be a concern as lost, broken, stolen, sold assets will be recorded in the system. This will inevitably increase productivity & save a great deal of time and money. A fixed assets management system reduces errors and time wasted as it’s an automated system that enables an easy identification of the fixed assets & the related information.
Protect your assets, protect your business. Effective fixed asset management is essential
Tragging: The Future of Fixed Asset Management - Achieve Efficiency, Transparency, and Ultimate Success
Tragging, has developed a fixed assets management system that relies on RFID technology. Tragging‘s fixed assets management system is a system that automates & facilitates all the different business processes of a company in a way that improves efficiency & accuracy of fixed assets management and inventory control.
Tragging’s fixed assets management system is a combination of many products that functions as one in order to provide business with the ultimate financial transparency and the ease to manage fixed assets and maintain a superb inventory control. Given the huge amounts of fixed assets a company possesses as well as the rapid technological rush, companies might as well integrate an innovative solution to help companies gain a competitive advantage and push it one step closer to ultimate success.
With a reliable fixed assets management system like Tragging’s, you can achieve outstanding results and move one step closer towards a soaring success and that is a promise!
For more information please visit us at: trackingfixedassets.com
