Fixed Asset Management Made Simple

Fixed Asset Management Made Simple

Here at itemit, we know the importance of fixed asset management. Fixed assets may not be taken from place to place, but it’s still vital that they are tracked. 

Thanks to the way that our asset management software works, fixed asset management can be very simple.


What is a Fixed Asset?

A fixed asset is something that is likely to be used many times. Office equipment and machinery, for example, are known as fixed assets. Buildings and vehicles are also known as fixed assets. All fixed assets tend to be very valuable to a business. Therefore, being able to monitor and track such assets can be invaluable.

Business Asset Tracking


Fixed Asset Management Made Simple

Managing your business’s assets can be very simple. There is a multitude of ways for each asset to be located and monitored, such as monitoring each asset’s:


Location

Understanding where each asset is can be vital. Users of itemit’s fixed asset management software can locate the assets with ease. It is possible to pinpoint the asset’s last-known location so that they can be retrieved, if necessary.


Price at Purchase

Knowing the price that an asset was at the time of purchase can be wholly useful. The information can help users to understand whether the fixed asset was reasonably priced. If more assets need to be purchased, the price can help users understand whether purchasing more is affordable. 


Date of Purchase

Knowing the date of purchase can help users if they have queries regarding the asset’s warranty and/or insurance. As many fixed assets are only under warranty for 1-2 years, for example, knowing the date of purchase can help. Users can understand whether it’s worth contacting the manufacturer about the warranty. Alternatively, users can make an insurance claim.


Supplier Information

Adding the supplier information to itemit’s menu shows who the asset was purchased from. Having access to information such as this can help users to understand where they can go for future purchases.


Estimated Current Value

Every asset be it fixed or otherwise will have an estimated current value. Knowing the value of an asset can help business owners to understand the business’s worth. In return, this information can be crucial when a loan is required. Alternatively, this information can be useful when understanding a business’s worth. Finally, the estimated current value of every asset can help business owners to determine whether the business is moving in the right direction.


Estimated Life Expectancy

Every single asset has a life expectancy. Knowing that an asset is likely to last 10 years, for example, can help business owners to understand when new assets need to be purchased. Adding the estimated life expectancy to itemit’s asset register ensures users can plan for future costs.


Maintenance Schedule

Having a maintenance schedule is vital. All fixed assets need to be maintained sufficiently and frequently. However, it’s likely that not all assets will be repaired when an issue arises. This is where itemits fixed asset management register can help. In addition to adding the maintenance schedule to the register, users can also highlight when an asset needs to be repaired. 

This feature alone can prove to be very useful. Users can notify the maintenance team when a repair is required. As a result, fixed assets can be repaired as and when it’s needed. Additionally, as assets are repaired more frequently the life expectancy can increase. As a result, costs can be lowered and the funds that would have been spent can be diverted elsewhere.


Current User

Another benefit of using itemit’s asset management software is that it’s possible to see who the current user is. If an employee is using a vehicle, users of the software can see who is using it. It’s also possible to see where the vehicle is at all times. 

When an employee uses an asset they can check the asset out. This is an option that itemit’s software provides. Users can state what asset they’re using and why. This feature can provide reassurance and an understanding that the right tasks are being carried out.


Use itemit’s Fixed Asset Management Software

itemit’s fixed asset management can work hard for you. Our easy-to-use software can help you with all of your asset-related needs. Additionally, it can provide you with useful means to track every aspect of every asset. It’s no wonder, then, that more and more businesses and organisations around the globe are using itemit. 

To find out just how well our asset management software can work for you, contact our friendly, expert team today. You can reach our team at team@itemit.com. Alternatively, you may wish to opt for a 14-day free trial to find out what our fixed asset software can do for you and your business. Fill in the form below to get started. 

Fixed Asset Management

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