- Business and Employment
Asset management software - Controlling your business assets the easy way
There are many different pieces of small business software available, and asset management software is one of these. Fixed assets are an important business resource that helps the business to trade on a daily basis and generate turnover. Fixed asset management is an important role and one that encompasses a lot of fixed asset related activities, such as ensuring all assets are serviced and maintained, ensuring all assets are adequately insured and ensuring all fixed assets are properly recorded. Arguably, the largest and most involved role of the fixed asset manager is maintaining the fixed asset register.
In its simplest form a fixed asset register is a list of all the assets held by the business. However, in reality the asset register is so much more. The asset register holds a lot of information about each and every asset, such as the date the asset was purchased, specific details about the asset (model number, reg number etc), the cost of the asset, the service intervals of the asset, the replacement value of the asset, the accumulated depreciation of each asset, the net book value of each asset and the location of each asset amongst other things.
It is possible to maintain a fixed asset register on a spreadsheet, such as Excel, however the best way to monitor and maintain the fixed assets is to use a piece of asset management software. Asset management software simplifies the process and reduces the hassle in maintaining an asset register.
When you use asset management software you need to make sure the information input is accurate as the information extracted from the asset management software is only as good as the information that is input. Inputting information in to a piece of asset management software is not a difficult task, but you will need to concentrate.
Once the information about each and every asset is put in to the asset management software you will be able to pull off a variety of different management reports that will help with service scheduling, insurance purposes and locating the assets. All the information a fixed asset manager will ever need can be extracted from asset management software.
If your small business has a lot of fixed assets, asset management software is essential, however it is also very useful for businesses with fewer assets. Where a business has few fixed assets fixed asset management is unlikely to be at the top of the priority list, therefore it is likely to be pushed to the back of the queue or even totally forgotten until something goes wrong with an important asset. So, if you want to make sure you are in total control of your business assets a piece of asset management software may be just what you are looking for.