Recent Articles

Corporate relocations can be made easier with inventory management

An asset management program can help companies protect items that are essential to maintaining operational efficiency. This solution can help decision-makers monitor inventory levels and determine when the optimal time for routine maintenance and repair would be. In addition, it can offer a measure of protection in the wake of accidental damage or theft. However, the use of asset accounting software would also be beneficial should a company decide to relocate its base of operations from one place to another. It's unfortunate that during moves of this kind, regardless of the distance, items may not arrive at their intended destination. However, this is one…

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Theft of aviation equipment, livestock highlights asset management program value

Fixed asset theft is a big problem for companies, regardless of what their business focus may be. Some industries are more prone to suffering losses than others, but it represents a serious issue across a number of industries, including aviation. According to a recent report from independent news outlet, KOZL, based in Springfield, Missouri, an airport in Aurora, Missouri, was the victim of theft, and several planes had more than $100,000 in valuable equipment taken from them. KOZL states that at least 20 planes were burglarized, 13 had missing items and the owner of one aircraft incurred losses of more than $18,000. "It's probably, at…

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Fire department receives donations after blaze destroys equipment

Fire departments rely on a wide array of fixed assets to put out blazes and save lives. Without these tools, it would be impossible for them to do their jobs effectively. But what happens when firemen's tools are destroyed by fire? Such was the case in New Brunswick, Canada. The Nackawic Fire Department lost much of its firefighting equipment after an accident caused a serious fire. CBC News reports that a resident crashed his car into the city's town hall building that is connected to the fire house. The accident sparked a blaze that destroyed three fire trucks and other valuable firefighting equipment. "Everything…

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Inventory management program vital for rental businesses

A fixed asset management program is recommended for any company. However, this solution is essential for rental agencies. Rental Equipment Register, citing a study conducted by Sandler Research, stated that the market for rental equipment used in oil fields is expected to have a compound annual growth rate of 14.5 percent over the next four years. As more companies increase drilling operations for both gas and oil, the need for suitable equipment that may be difficult to purchase but can be rented highlights the call for rental agencies to implement a suitable asset management program. Companies that rent drilling and other equipment can benefit from…

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Fires damage large food processing plant in Canada, small restaurant in Oregon

Whether fixed assets are lost, damaged or stolen, an asset management program is a perfect solution to quickly get a company back to operational efficiency. CTV News Windsor, a Canadian news outlet, recently reported on a fire that destroyed a large portion of a food processing company in Tecumseh, Ontario. Bonduelle is the largest company that makes canned and frozen vegetables in North America. CTV News stated that the blaze resulted in as much as $50 million in damages to equipment, the structure itself and the products that were consumed by the fire. In a situation like this, asset accounting software can be used…

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