What Is Fixed Asset Register Software?

With a fixed asset register, you’ll be able to track and manage your assets much better. Fixed asset registers make your auditing transparent, streamlined, and effective.

However, there’s more you can be doing. If you’re currently using a spreadsheet, you’ll notice that there are gaps. When assets move or when the data related to them changes, your fixed asset register becomes out of date.

Therefore, using a spreadsheet takes a lot of time and manual input. This is where fixed asset register software comes in.

The Benefits Of Fixed Asset Register Software

The main benefit of fixed asset register software is that it automates a lot of your operations. With fixed asset register software, any changes that you log against your assets are automatically updated in real-time.

How it works is by using standard asset tracking operations and functionality, and reflecting these changes in an automated and exportable reporting system.

So, if you notice an asset has been damaged, when you use your fixed asset register software to report the damage, this change will also be reflected in your fixed asset register.

How Asset Tracking Works

Asset tracking works by using unique digital asset profiles to log data and changes. This data can be maintenance information, such as reminders or issues management, but it can also be bookings, financial information, or images.

Therefore, if you notice that a laptop is due for maintenance, you’ll be able to log this on the laptop’s digital profile against the laptop itself. So, when it’s time to undergo the maintenance, you can see exactly which laptop requires this maintenance and where it is.

Then, you’ll link your physical assets to these digital profiles using asset tags. These asset tags are stuck onto your assets to streamline your operations.

Asset tags can be QR codes, barcodes, RFID tags or GPS tags, it’s up to you!

Once you’ve linked your physical assets to their digital counterparts, every time you scan the asset’s tag, the digital profile will appear. The last seen location and user who scanned it will also update.

Preventing Gaps In Your Operations With Fixed Asset Register Software

Overall, this level of automation prevents gaps in your fixed asset management processes. Having a robust register where a digital database is linked to physical assets ensures that you lose fewer assets and that you know how assets are behaving.

Therefore, using fixed asset register software reduces the chance of having ghost assets and zombie assets when it comes to auditing and accounting.

As it’s all automated, too, you save time where you need it the most. Therefore, fixed asset register software helps you get the most out of your fixed assets while they run through their lifecycles.

To find out more about how itemit’s fixed asset register software can help you, you can book a demo using the button below:

You can also contact the team at team@itemit.com or fill in the form below to start your 14-day free trial.

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