A fixed asset tracking system refers to the tracking and maintenance of the physical equipment and assets of an organization. These physical assets and equipment can include anything ranging from vehicles, and machinery to office furniture computers, and other materialistic things.
These assets consume a large capital investment and comprise a greater portion of the company’s net worth. It can go as high as 40% of the total company’s investment. Thus, it is important to adopt and utilize a technology that maximizes the useful life of the assets and brings you the best return on investment.
The market has several vendors that are providing such technology to organizations in need. But, it’s important to choose one that is adopted by millions and is easy to get started. So, to ease down your hustle of hunting for one, we have a recommendation for you – The Flexi Fixed Asset Tracking System
We have elaborated on some of its key features to paint a clear picture in your mind.
Key Features to Look for in a Fixed Asset Tracking System
1. Unlimited Flexibility
With this asset management software, you can keep an eye on the entire lifecycle of your fixed assets. You can stay updated about the acquisition, adjustments, depreciation, and disposal of your assets.
It allows you to keep a track of your assets across departments, companies, multiple locations, multiple depreciation schedules, and others.
Be it the auto assigning process or dealing with a multi-company asset, the asset tracking technology makes it easy for you to know it all by providing you with any supplement information like serial number, lease information, and others. You can even record the transactions with accurate data for future validation.
2. Effortless Integration
Welcome maximum efficiency and enjoy accounting automation with the feature of seamless integration in your Flexi asset management software. It can further streamline your work by integrating with other products like FlexiPurchasing, FlexiLedger, FlexiPayables, and others to provide you with real-time updates. These integrations will make your everyday work more hustle and error-free so that you can shift your attention to other important aspects of your business.
3. Accurate Reporting
As you track your assets, leverage the feature of reporting that provides you with real-time data on your asset functions. You can get data on parameters like average downtime, performance, and MTBF that will help you evaluate your asset’s lifecycle. It will help you make data-driven decisions based on concrete reporting.
You can improve the overall profitability of your organization with a streamlined management process. It also helps in eliminating human errors that further enhance asset performance monitoring. In the long run, this top-notch technology benefits you with reduced time and money wastage.
4. Efficient Operations
The asset management system allows you to make your operations more efficient by making sure that their maintenance is cost-effective. You can let go of keeping track of your assets and stock levels in a spreadsheet that is often inaccurate. With reliable technology like the Flexi fixed asset tracking and management system, you can have an automated system that tracks and stores all the information regarding your assets.
With accurate information recorded, it becomes easy to proceed with the operations related to it. Features like procurement, budgeting, and management operations further help you with numerous things like asset depreciation, stock levels, individual asset life span, and others. It saves a lot of money in the long run by helping you make the most out of your assets in the entire lifespan they are used in operations at your organization.
5. Streamlined Audit Operations
Auditing becomes vital when the organization looks out for the ownership and the location of the assets. Allow the asset tracking system to schedule your audit time frame and get updates on the received status included in the process. Your everyday operations become much faster with it as it eliminates any unnecessary steps in the process.
A Flexi fixed asset tracking system brings an array of benefits to the table for an organization. It has become a popular tool in the industry today. To summarize it all, we have listed down all the perks you can enjoy with it by your side.
- Simplified Scheduling
- Data Visibility
- Improved Safety
- Reduced Maintenance Expenses
In case, you are looking for a brief on this technology, go ahead and book a demo to learn it all. Our knowledgeable experts will provide you with a free demo to get you started.