Searching for a dedicated fixed asset register

But where does your organization begin the search for a dedicated fixed asset management and tracking solution?

There are multiple stages involved in researching and implementing a fixed asset management system. Before an organization begins to research a fixed asset management solution, it should identify current practices.

What type of system do you currently have in place?
A. No system
B. Spreadsheets
C. Legacy system
D. General ledger or ERP

No system: Why consider a system at all?

• Your organization requires on but the project has never been properly resourced.
• Auditors have recommended that you improve the way you manage your fixed assets.
• Your organization’s fixed asset function has been brought in-house.
• You are a fast-growing organization now of sufficient size to warrant one.
• Your asset base has significantly increased.

Spreadsheets:  Have you outgrown them?

• Multiple user system is required
• Audit history is inaccessible.
• Data is insecure and open to unknown, inadvertent corruption.
• Data is too complex to configure with such large quantities.
• Your asset base has grown and is now too large to manage
• No external/technical support.
• You spend valuable time verifying the accuracy of your system.

Up next:  Legacy system and General Ledger