What is a fixed asset? How much money and time goes into managing them?
Get the Big Picture in this video from Sage Fixed Assets.
Simply put, having a fixed asset management system in place allows your organization to maximize its asset base, which is extremely valuable to the business. Asset management software offers a company-wide look at the organization’s fixed asset holdings, which will help to verify that new items aren’t being purchased when existing, serviceable assets are already available.
Conversely, having complete records also allows you to identify ghost assets – those that are still on the organization’s books despite no longer being in use. Items that have been lost, stolen or simply taken out of service due to wear and tear often remain on companies’ balance sheets, pushing up insurance premiums, inflating tax payments and making the business look older on paper than it actually is, which could present obstacles when it comes to securing capital