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Fixed Asset Management (FAM) Take Control of Your Fixed Assets

We offer robust Fixed Asset Management Services - allows users to manage, monitor, report and schedule (for redeployment of end-of-life), the fixed assets of the firms.

Real-time Data

Predictive Maintenance

Fixed Asset Lifecycle Management

Mobile Access

Introduction

Fixed Assets are important items component for any organization as ultimately they are the elements of value that help an enterprise sustain growth, maintain consistency and help in the smooth running of the organisation on a daily basis. Regardless of their size and turnover, each company maintains a certain volume of assets. The tracking, managing and monitoring of these assets on a consistent basis is important. However, it is not humanly possible to keep track of every asset, so companies rely on software such as fixed asset management software which serves the crucial purpose of keeping track of their current status.

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What is a Fixed Asset?

Fixed assets are the assets that have been purchased by the company for long-term term use. They are used in the production of goods and services and do not have an infinite lifespan. Which is why companies try to optimize their usages so that these assets can serve a longer purpose. Commodities like computer equipment, office furniture, machinery, software, vehicles, and even the office building are considered as fixed assets.

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Why is fixed asset management important?

Some fixed assets require a huge capital investment which sometimes even comprises of the company’s net worth. These include servers, computers, networks, transport vehicles, buildings, machinery, and the like. To maximize the value of the investment, these companies emphasize managing their assets. However, that's not the only reason. If companies failed to optimize and manage their assets they can run into issues such as equipment failures, environmental breaches, unplanned downtime, lost or misplaced inventory, and even failure to meet safety guidelines. These companies have to incur heavy losses in such cases. Considering these reasons, it is evident why fixed asset management is important and why companies invest in fixed asset software or fixed asset management systems.

Asset auditing | Hardware Asset Management

What is Fixed Asset Management Software?

This software allows users to manage, monitor, report and schedule (for redeployment of end-of-life), the fixed assets of the firms. They are designed to track the movements of assets and generate live reports on their status. The software notifies the user regarding the updates of the assets which are losing their functionality due to aging and depreciation. It provides insight and information about their complex asset structure which in turn helps in better management and ensures a steady workflow without unnecessary risk or rundown.

Asset Management Software Features

The main features of Asset Management Software are as follows:

Lifecycle automation | Hardware Asset Management

Real-time Data

Managers can easily access the status of their assets using real-time data. The software identifies risk and issues in real-time which helps companies to deal with them immediately.

Lifecycle eventalerts | Hardware Asset Management

Predictive Maintenance

The system can comprehend the status of their assets so they quickly notify their users in case of future rundowns. This allows companies to take preventive actions and maintain their assets in advance so that they can avoid a future risk or failure.

Asset auditing | Hardware Asset Management

Mobile Access

Operational heads, managers and admins gain mobile access management of assets. This allows the manager to track and monitor them from any location. This precludes time as non-contingent factor and mitigates issues pertaining to presence.

Benefits of Fixed Asset Management Software

Lifecycle automation | Hardware Asset Management

With real-life tracking and live status reports, the software helps in reducing the threat of risk and improving safety and regulatory compliances. Not to mention, it increases the efficiency of operations by providing cost-effective and budgeting solutions, which in turn increases the ROI for the firm. The software is also loaded with smart business intelligence features which provide automated service with less human intervention. It reduces the chances of human error resulting in better operations and management processes of the firm; improving their overall profitability.

Do You Need Fixed Asset Management Software?

Lifecycle eventalerts | Hardware Asset Management

A most convincing “Yes” would be the answer. Even if you are a small or medium-sized company; possessing such software is crucial to optimising the enterprise. And what’s even better is that such software don’t even cost too much while being highly effective. They generally cost from $100 to $150 a month. Some software companies also have a fixed price model where you can pay just once for a long-term/lifetime license.

Asset auditing | Hardware Asset Management

Conclusion

Every company has its Asset Management requirements. Finding a good one which is an apt fit for your company is important. Once it is integrated into the complete work systems, one will start to reap their benefits leading to a leaner and more efficient enterprise.

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