Effective asset management means knowing: when assets are added, moved or disposed of.
Fixed asset management is a complex process. Keeping track of thousands of assets like computers, laptops, software, peripheral devices and office equipment is a challenge, especially when assets are added, moved or removed every year.
You might be wondering why you would even undertake such a large task. Asset tracking can help you:
- Be audit-ready. Asset tracking systems enable you to generate accurate reports of where each and every asset resides in your organization.
- Stop paying penalties for expired leases. Asset tracking systems keep you aware of impending deadlines for the return of leased equipment.
- Save money. If you do not accurately track assets that have been disposed of, you could be paying higher taxes than necessary. Asset tracking can ensure that your financial records match your physical inventory so you are paying taxes on the actual value of your assets, not an inflated number.
- Get better use of your equipment. Know where to distribute older technology. An asset tracking system helps you make better decisions about where new acquisitions are needed and where older equipment can still be used.
Effective asset management means knowing when assets are added, moved or disposed of. Gathering the data and creating a user-friendly database of asset information is a daunting task. You need to know which data to capture, where to store it and how to reconcile it.
Few enterprises have the expertise to do asset management right. Techtrack can help you get on track from the start, with our professional services: