Archive: Nov 2012

Choosing The Right Fixed Asset Management Software Package

Most businesses track and manage their fixed assets manually, via spreadsheets or with the help of software. While accounting for property conditions by hand seems simpler and less expensive than turning to technology, it can be very easy to make errors, lose information or forget to evaluate equipment periodically when businesses manage fixed assets in books or on spreadsheets. Asset management solutions, however, provide businesses with a foolproof system that keeps information intact and in one central location. While software implementation may seem pricey, businesses that choose it save large amounts annually on taxes, insurance, and replacement and repair costs. It’s important…

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Fixed Asset Management for Charitable Organizations

Many charities rely heavily on donated equipment, furniture and facilities. Because fixed assets circulate around and through charities to other organizations, it’s important for these entities to adopt asset management to save time, maintain accounts and monitor equipment conditions. When organizations don’t track property efficiently, they risk misplacing, losing or damaging valuable fixed assets. Chairs, laptop computers, calculators and other items can be easily moved, misplaced and not returned to their original locations. Individuals waste time and organizations lose productivity when members have to look for items that are frequently used, moved and forgotten. In addition, when property goes missing, replacement costs…

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Fixed Asset Management in the Whimsical World of Toy Manufacturing

The Great Recession hurt almost every sector in the United States, and served as a clear sign that businesses need to improve their operational efficiencies to remain competitive in turbulent economic times. Perhaps among the hardest hit by the financial downturn were manufacturers of goods that are not necessarily needed, although they are wanted by children around the world. Toy manufacturers can capitalize most on childhood whimsy by ensuring the tight management of all property, plant and equipment they use for their operations. Fixed asset management solutions are invaluable resources, especially for industries that have high levels of inventory and expensive equipment….

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Three Reasons Why Spreadsheets Are Unreliable For Fixed Asset Management

Many organizations don’t realize the value of effectively and efficiently tracking their fixed assets. When businesses track property correctly, they develop an accurate perception of how profitable their investments in land, infrastructure equipment and other fixed assets are. While fixed asset management can lead to important tax savings and limit unnecessary spending, businesses that rely on spreadsheets to track property conditions risk making errors on financial reports and wasting time and resources. Fixed asset management software can prevent these risks, however. Spreadsheet software is an essential tool for businesses that use them for employee hour registration, expense reports and industry-specific projects. However, they…

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Benefits of Fixed Asset Management Solutions For Pharmaceutical Companies

Small and medium-sized pharmaceutical companies face a variety of challenges on an everyday basis, including adherence to extensive compliance requirements, staffing, marketing and research. Additionally, these companies often have a wide range of property, plant and equipment to oversee. Fixed asset management solutions can help pharmaceutical company owners and managers better track, plan, depreciate and report all held items. Accounting needs to be especially tight in this industry to avoid sanctions and fines, as well as to maintain efficient operations and preserve reputations. Fixed asset tracking and planning solutions Loss and theft account for millions of dollars in most industries, and…

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