Category: Fixed asset management

Unicorns need to patent and track intangible assets

Innovation is a powerful trend in modern business. Standard practices have always given way to new ideas, but modern technology and a global culture provides platforms for small businesses to skyrocket overnight. The term unicorn is Silicon Valley jargon that describes a startup valued at more than $1 billion, according to Chicago Business Journal. The most common types of unicorns in today's world come from software, Internet and e-commerce industries. A small team of individuals may develop a new program or way of utilizing technology consumers instantly respond to. Success can happen so fast, businesses have to be careful they…

Read More

3 ways to ensure green business asset implementation success

Going green can be a major investment for a company. Trading in outdated equipment for eco-friendly options and bringing in green tools means a company spends a lot of capital on fixed assets that have to serve a dual purpose. Managers must ensure the new assets successfully contribute to business activity and reduce the organization's negative impact on the environment. Whenever a company invests in fixed assets with specific goals, charting expectations and daily performance provides insight into implementation. Companies should use these three asset management strategies to create a greener and more efficient office: 1. Make informed decisions on new…

Read More

Crowdfunding assets: Business goals that show results

Online crowdfunding is a relatively recent strategy for entrepreneurs to raise money for their small business. Many startups turn to Internet audiences to provide capital for new ideas or early expansion. Entrepreneur magazine said the crowdfunding projects most likely to reach their goal are the ones that provide potential donors with results. A business needs to show people where their money goes and offer them real proof of success. Instead of vague businesses plans, companies should crowdfund for specific assets to create projects with goals online investors can see. Crowdfunding tangible assets The simplest way to create a specific goal for a…

Read More

Small businesses may need to get creative with asset utilization

Creativity may be the key to getting optimal ROI from a business fixed asset. Organizations can make the most out of the finances and resources poured into equipment by finding new ways to put tools to use or finding potential in cheap materials. If companies prioritize fixed asset management, managers may see a wealth of information streaming from daily asset utilization that could spark new ideas. When it comes time to buy or evaluate assets, decision makers need to keep open minds and make decisions based on hard facts. Being creative with asset acquisitions Entrepreneurs have to make the most of…

Read More

Asset tracking helps steer cattle management

The depreciation of a fixed asset can be difficult to track if a business wishes to go beyond standards and closely account for actual wear and tear of equipment. The cost to maintain, fix and salvage equipment could create numerous data records accountants must detail in company documents. A centralized fixed asset solution can help businesses keep up with data by providing a singular truth for accounting practices. Employees can log every asset activity and update users on changes. One asset that could experience a variety of outside factors that may speed up or alter depreciation is livestock. Tracking unpredictable businesses…

Read More