In part 3 of this blog series, "Fixed Asset Management Software: No More Spreadsheets!" we discussed steps to take before you get ready to ditch the spreadsheets and move to Fixed Assets Management software.
So what are the benefits to a business if they are considering adding an asset manager is the next key step? With company growth, further procedures may be necessary, as well as someone to supervise the equipment and fixtures of the firm.If you have any fixed assets questions or topics that you’d like more information, please let us know.
As businesses grow, they face the need to bring in more personnel and generate new divisions or offices to suit growth. To meet the mounting requirements of customers and increase procedures for supplementary expansion, companies should concentrate on enlightening fixed asset management to make the most of property use, eliminate ghost assets from accounting books, and finally cut costs associated with taxes, insurance fees, and productivity losses.
In addition to partnering with an inventory accounting solutions provider that can deliver customizations, a business may need to contemplate the benefits of having a full-time, in-house fixed asset manager. These specialists serve as the link between accountants, the finance department, equipment managers, and organizational leadership. There are many other encouraging features to having someone managing the tracking property value, condition, and use.
It's essential for managers and leadership to recognize how machines and tools get used to confirm the staff are expending precise processes and maximizing fuel and supply productivity. However, relying solely on an equipment manager to balance associated expenses can lead a company to miss out on probable cost savings and operational improvements.
Fixed asset managers can convey the financial knowledge necessary to keep the books healthy and accurate. Many have accounting certifications or may have received preparation from the Association of Equipment Management Professionals. Many of these professionals have taken the Certified Equipment Manager Exam, Energy Global explained.
While they do have the credentials to work as a finance professional, fixed asset managers have expertise and skills that pertain specifically to overseeing the use, purchase and disposal of property, equipment, furniture, and other items.
“Asset managers are involved in everything from procurement to benchmarking, evaluating life-cycle costs to purchasing technological tools, parts management to safety assurance,” the source explained. To keep your organization’s fixed assets under control, accounted for, and fundamentally working to better the overall position of the business, dedicated personnel may be a profitable solution.
You can read more about Fixed Assets here, or you can contact us for a demo or pricing.
If you have any questions or need help with the above recommendations, please call tech support at 502-429-6902 x227.
Oasis Solutions Group provides consulting, implementation, support and project management services for Sage ERP 100 & 500 (F/K/A MAS 90 & 200), CRM (Customer Relationship Management) and HRMS software. Oasis provides and supports on-premise and cloud-based software products.
Located in Louisville, KY, Lexington, KY and Nashville, TN, we cover the Mid-West and New England areas as well as other locations.
We provide telephone, remote and on-premise support. In addition, we work with companies who purchased the system and need a higher level of expertise and support than they are receiving.
Please read our first article here, our second article here, and our third article here.
Another version of this blog was previously posted on Apr 7, 2015 Why You Should Avoid Using Spreadsheets for Fixed Asset Management, Part 4 by Oasis Solutions Group