Upgrading to fixed asset software is a wise choice for your company for a number of reasons. Let’s take a look at a few of them:
Mitigating inaccurate depreciation calculation
As anyone who’s ever worked with spreadsheets knows, they are extremely susceptible to error because the formulae they use must be entered by hand. The fact that multiple people are typically involved in maintaining and editing the same data makes spreadsheet-based fixed asset management even more risky.
Establish an audit trail
It’s important that fixed asset data be as accurate as possible. Sometimes, in scenarios where numerous people have access to one set of data, accountability can be eroded. Asset software tracks every action that users carry out while simultaneously recording the times, dates and explanations of changes. This makes it easy to determine when and why edits were made, as well as by whom.
Not just anyone can access data stored by fixed asset software. You can set up your solution so it requires a username and password, and customize access privileges for different employees.