Recent Articles

The importance of asset and inventory tracking software for construction companies

Theft of fixed assets is always an area of concern for any organization. However, better weather presents a prime opportunity for thieves to take valuable items used for business purposes. This is especially true within the construction sector. Citing data from the National Crime Information Center, NexTraq, a company that manufactures fleet management solutions using GPS, revealed that close to 1,000 fixed assets used for commercial purposes are stolen every month. NexTraq states that construction equipment has a higher chance of being stolen than sustaining damage from a natural disaster.  Additionally, larger fixed assets such as earth movers and other machinery used during building are five times more…

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Asset management programs help with recovery after accidents

In most cases, natural disasters are nearly impossible to predict. These events often happen suddenly and without warning. In many instances, the aftermath is severe damage and destruction to property and other fixed assets owned by organizations and individuals. For the former, an asset management program and a depreciation calculator can be helpful for trying to get back on track in the wake of a disaster. Lightning causes damage to schools A two-alarm fire, which took 120 firefighters to get it under control, destroyed a significant portion of a school in Waldorf, Maryland. Local ABC 7 News affiliate WJLA reports that John Hanson Middle School's Lifelong…

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Military to continue donating surplus fixed assets to local fire and police agencies

Effective fixed asset management is a must for local and state agencies, particularly those devoted to the safety and protection of civilians. Police and fire departments need to ensure all the equipment and property they use – from vehicles and protective gear to administrative items like computers – are in working condition and traceable. Many of these organizations receive some of the fixed assets they rely on daily through donations. In fact, the U.S. Department of Defense has a history of passing surplus equipment onto police, fire and other safety agencies across the country. However, a recent moratorium temporarily halted…

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Decades-old smallpox find highlights value of an asset management program

There are many reasons for an organization to use asset and inventory tracking software to keep tabs on fixed assets. There are many instances when items can be lost or misplaced and a solution of this kind can help locate their whereabouts. An asset management system would've been advantageous after vials containing a deadly virus were found recently. The Washington Post reports that a box containing six vials of smallpox were uncovered in Bethesda, Maryland, in a storage room at the National Institutes of Health. "The vials appear to date from the 1950s," the Centers for Disease Control and Prevention states in a press release. "Upon…

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A fixed asset management system useful in accidents or natural disasters

Whether big or small, fixed assets that a company uses to generate revenue must be accounted for and maintained at all times. This is one of the reasons why many organizations have implemented asset management systems that keep track of the materials they rely on for business purposes. This solution is especially helpful when a company's fixed assets suffer damage, like in the case of airplane parts made by Boeing. The Associated Press reported that the airplane maker is currently trying to decide what to do with six fuselages of commercial aircraft that fell off of a train as the result of a…

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