Your business needs to track its fixed assets. Without a robust system in place, there is a lengthy variety of risks that span from accountability issues to fines to losses.
A fixed asset register is essential so that your business has the visibility over your operations it needs. The best way to achieve this visibility is by using fixed asset management software.
What Are The Risks?
First and foremost, you need to keep your auditors happy. To do this, you need an accurate and up to date record of your equipment, tools, and assets.
Nobody wants to sift through a spreadsheet, and a spreadsheet creates inevitable and costly gaps that your auditors will pick up on. Having ghost and zombie assets, for example, create inaccurate tax returns and insurance information, which can lead to overpayment or fines.
Without visibility over your fixed assets, too, you run the risk of misplacing or losing your critical equipment, which can lead to delays in work alongside health and safety risks and more.
No visibility or limited visibility means your business is likely bleeding money from a wide range of places.
What's the solution?
Tracking your fixed assets with a dedicated asset management system means that you have complete control over your fixed asset register.
As your system is dedicated to tracking, managing, and controlling any changes assets go through, you start generating a return on investment from day one.
This is because of helpful features such as the ability to assign users to assets. In the context of IT asset management, having an assignee is hugely beneficial for a range of reasons. For example, if a colleague hands in their notice, finding which assets they're responsible for is quick, simple and effective.
Watch videoThis is one small, simple feature within an entire suite of fixed asset management solutions, and it already gives you more visibility over who is using what.
