Fixed Asset Management Software to Take Control of Your Assets
A flexible platform to get fixed assets information at your fingertips, perform accurate asset valuations & depreciation, and take complete control of your fixed assets
Fixed assets are tangible business assets that companies typically own for long-term financial benefits. Common examples include land, buildings, machinery, equipment, vehicles, and IoT devices, among others. They play a critical role in driving revenue for your company and are listed in the Asset section of your Balance Sheet. Continuous usage of fixed assets results in a decline in their value.
Fixed assets serve as the foundation of any company as they are essential for revenue generation and day-to-day business operations. Companies have to thoroughly maintain a record of their fixed assets and any asset-specific activity such as procurement, depreciation, and disposal.
What is Fixed Asset Management Software?
A Fixed Asset Management Software is a specialized application that provides real-time visibility into the company’s fixed assets and streamlines every aspect of the fixed asset lifecycle from procurement and management to disposal. It is an essential software that helps modern-day businesses track, manage, and document their fixed assets and stay compliant.
ERP Software allows companies to seamlessly manage the maintenance & repair of fixed assets, and optimize them for maximum efficiency while saving costs & time. Fixed Asset Management System is a highly flexible and customizable application that offers robust integration capabilities to meet the company’s unique operational needs and achieve strategic objectives.
Asset planning & budgeting
Real-time asset tracking
Robust legacy integration
Why Choose Sage Fixed Asset Management Module?
As your business grows in size, so does the complexity of managing tons of fixed assets. Thanks to the Sage fixed asset management module, now you can take control of your fixed assets and reduce operational complexities.
Here’s why leading Indian companies across varied industries choose Sage X3 for managing their fixed assets:
Maintain a precise record of fixed assets & their detailed history
Managers can conveniently access real-time data with various fixed assets such as costs, potential issues, and maintenance schedules with the fiixed asset ERP software. As a result, they can make timely adjustments based on short and long-term needs. The asset lifecycle management module consists of various features like asset tracking, asset management, item classification, material allocations, status updates, asset transactions, lifecycle monitoring, part reservation, contract management, and much more.
Predictive Maintenance
Predictive maintenance predicts the chances of equipment breaking down. It allows managers to schedule maintenance for those items that are likely to become dysfunctional in the coming times. This feature of ERP application helps strengthen customer relationships and build a strong reputation for the company in the market. The predictive maintenance module comprises fault management, component management, parts management, asset consumption and condition maintenance, vehicle maintenance repair standards (VMRS), template creation, regulatory compliance management, reverse logistics, and much more.
Inventory Management
The inventory management module considers each tool, equipment, and supply that enter or leave the warehouse in real-time. It is equipped with barcoding technology that automatically records the bills and stores them in the repository, making it easy for relevant stakeholders to access the information. This ERP solution module consists of stock level metrics, inventory allocation and transfers, lot control and serialization, bills of materials, cycle counting, multi-site inventory management, automated reorder, and much more.
Single Source of Truth
Get a centralized platform to keep track of every fixed asset, no matter its location, branch, or the team responsible for its management. Track assets across different locations with a unified interface, manage who can view asset-specific information, and ensure end-to-end regulatory compliance.
Optimize Asset Spendings
Plan procurement of new assets, track budget costs, compare budgets vs actual spending, revise your budgets, and ensure asset costs are under your control. Our fully flexible and customizable platform gives you complete freedom to monitor asset expenditure, take strategic initiatives to minimize costs, and maximize asset value.
Benefits of Fixed Asset Management Module
Many worldwide agencies such as the IRS, IFRS, GASB, GAAP, SOX, T2S8, GST, CCA are always searching for organizations trying to evade taxes. You must know that a minute error or non-compliance with laws can mean penalties worth hundreds of thousands of dollars. Sage’s Fixed asset management software India will make you compliant with the tax laws of internationally reputed financial agencies and protect you from paying enormous penalties.
Calculate Asset Depreciation
The Fixed Asset Management System automates the routine tasks of calculating asset depreciation to enhance your tax compliance and ensure strict regulatory adherence. It supports 50 depreciation methods, including ACRS, straight-line method, MACRS 150 percent, and 200 percent, among others.
Real-time Asset Tracking
Each organization has many fixed assets and intangible assets that enter and exit the system every day. Therefore, it’s essential for companies, especially small business owners, to maintain a real-time record of assets as it helps form an error-free income statement.
Extensive Tracking of Fixed Assets
Fixed Asset Management software India comes loaded with a Microsoft Windows Mobile Barcode reader that helps track multiple inventories simultaneously at several locations and helps reconcile data in a central repository accessible to relevant stakeholders.
Identify Ghost Assets
Ghost assets are those items that have been lost, stolen, or extinguished but are still present in the system records. The real-time tracking feature of the fixed asset management software module maintains a description of the property, plant, and equipment currently in use and removes non-existent items from the list.
Cloud-based Asset Management
The primary business benefits of an ERP cloud-based asset management module is that all business stakeholders, including frontline executives, C-suite executives, vendors, suppliers, & distributors can access critical information related to assets, intellectual property, balance sheet, tangible asset, & intangible assets.
Estimate Budgets and Forecast Spendings
Fixed asset management ERP application provides the complete history of property, plant, and equipment, from the date of acquisition to the end of life. This detail helps to accurately determine the number of assets you may need in the future and also estimate the future spendings and budgets.
Get Total Control Over Your Fixed Assets with Sage X3
Fixed Asset Management System gives you total control over your fixed assets. It makes it easier to track assets throughout their lifecycle, drill down to specific assets for details, classify assets into groups & categories, and quickly generate asset-specific reports for financial accounting, tax, and auditing purposes.
Sage X3 fixed asset management software India serves as the central repository of fixed assets to generate accurate asset-specific reports. It assists with all the aspects of asset management from procurement, financial planning & reporting, budgeting, and cost control to compliance. It makes it easier to calculate asset valuations, reduce the cost of maintaining fixed assets, and puts you in control of your fixed assets.
A Fixed Asset Management System comprises the required functions to track, manage, and document your organization’s fixed assets throughout their entire lifecycle. It takes care of everything, such as asset costing & budgeting, calculating depreciation, asset utilization & disposal, and performance evaluation using KPIs.
What is a fixed asset in accounting?
A fixed asset is one of the types of ERP modules which is not easily converted into cash. Fixed assets are usually long-term investments, such as property, equipment, or vehicles. In accounting, fixed assets are recorded on the balance sheet. The value of a fixed asset is deducted from the company’s total assets to arrive at the value of the company’s current assets. Companies use fixed assets to generate revenue, which can be used to produce goods or services sold to customers. Fixed assets are a vital component of a company’s balance sheet.
What are the 5 stages of asset management?
The five stages of asset management include initial planning & research, asset acquisition, maintenance & repair, operations, and asset disposal. A Fixed Asset Management Module provides efficiency across these stages and improves the overall lifespan of assets.
What features should a Fixed Asset Management software have?
First, the software should be able to track and manage your organisation’s assets. It includes keeping track of asset location, maintenance records, and depreciation schedules.
Second, the software should be able to generate reports. This is important for both financial and Compliance purposes. The reports should be customisable and allow you to drill down into the data to get the needed information.
Third, the ERP solutions should have robust security features. This is important to protect your data and ensure that only authorised users can access the system. The software should have user-level security and the ability to track and audit the actions of users.
Finally, the software should be easy to use. It should have a user-friendly interface that is easy to navigate. The software should also be scalable to grow with your organisation.
Why fixed asset management software is essential for business?
Any business that owns physical assets needs to track and manage them properly to maintain a clear and accurate picture of the company’s overall value. It is where fixed asset management software comes in.
Fixed asset management software helps businesses keep track of their assets, including information on location, value, depreciation, etc. This data is essential for making sound decisions about replacement, insurance, and other asset-related matters.
With a sound fixed asset management software, businesses can easily maintain track of their assets and take advantage of significant opportunities to improve their bottom line. Invest in an excellent fixed-asset management software solution if you own or manage physical assets
What is the cost of fixed asset management software?
The cost of Fixed Asset Management Software India differs from product to product. It depends on several factors such as the number of users, functional requirements, type of deployment (for example, on-premise or cloud), additional training & customization requirements, and so on.
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