Benefits of Fixed Assets Management System

Ever since the dawn of the modern business, spreadsheets on Excel were the main method to keep track of fixed assets in a company. This, indeed, might work at the very beginning of the business, but as the business grows, the manual entry involved will inevitably lead to countless errors. In such a hectic environment, companies possess huge amounts of fixed assets that require so much time and labor force to conduct inventories & track these fixed assets. Fixed assets represent the largest investment of the company, from the tangible fixed assets (furniture for example) to the intangible fixed assets like the intellectual property. So, what is the cost of spreadsheets on fixed assets management? Indeed, mal management of fixed assets can lead to countless discrepancies like having inaccurate financial reports due to the high error margin, consequently affecting the bottom line of the company. This is why a good fixed asset management system is crucial for any company’s succ