Many organizations face a significant challenge to track the location, quantity, condition, maintenance and depreciation status of their fixed assets. A popular approach to tracking fixed assets utilizes serial numbered Asset Tags, often with bar codes for easy and accurate reading. Periodically, the owner of the assets can take inventory with a mobile barcode reader and then produce a report.
Off-the-shelf software packages for fixed asset management are marketed to businesses small and large. Some Enterprise Resource Planning systems are available with fixed assets modules. Some tracking methods automate the process, such as by using fixed scanners to read bar codes on railway freight cars or by attaching a radio-frequency identification (RFID) tag to an asset.
Tracking assets is an important concern of every company, regardless of size. Fixed
assets are defined as any 'permanent' object that a business uses internally including
but not limited to computers, tools, software, or office equipment. While employees
may utilize a specific tool or tools, the asset ultimately belongs to the company
and must be returned. And therefore without an accurate method of keeping track
of these assets it would be very easy for a company to lose control of them. With
advancements in technology, asset tracking software is now available that will help
any size business track valuable assets such as equipment and supplies. According
to a study issued in December, 2005 by the ARC Advisory Group, the worldwide market
for Enterprise Asset Management (EAM) was then at an estimated $2.2 billion and
was expected to grow at about 5.0 percent per year reaching $2.8 billion in 2010.
Asset tracking software allows companies to track what assets it owns, where each
is located, who has it, when it was checked out, when it is due for return, when
it is scheduled for maintenance, and the cost and depreciation of each asset. The
reporting option that is built into most asset tracking solutions provides pre-built
reports, including assets by category and department, check-in/check-out, net book
value of assets, assets past due, audit history, and transactions. All of this information
is captured in one program and can be used on PCs as well as mobile devices. As
a result, companies reduce expenses through loss prevention and improved equipment
maintenance. They reduce new and unnecessary equipment purchases, and they can more
accurately calculate taxes based on depreciation schedules. The most commonly tracked
1) Plant and equipment
3) Fixtures and fittings
Asset Tracking System - ONLINE DEMO!
While most of our business is focused on helping companies optimize their licensing and avoid compliance risks there are times a company comes to us when they are in some stage of being audited. We come across a number of areas that "surprise" customers to find out it's a compliance issue.
Are you one of those IT administrators that is trying to manage a constantly growing
inventory of all types of devices, software and network infrastructures via an IT
staff that isn’t growing, possibly even shrinking? Well, it’s virtually impossible
to administer this complex, always evolving environment without IT asset management
software and reporting automation. Here are the capabilities your IT asset management
software should provide:
1) A single, web-based interface to deploy all hardware and software inventory and IT asset management processes
2) Asset data audit, tracking
3) Tracking of all hardware and software assets within a single database
4) Asset tracking throughout the lifecycle including move, add, change and delete (MACD) activities
5) Online, always accessible vendor, service and maintenance contracts ensuring accurate tracking of financial and service impacts of asset changes
6) Software metering functionality providing accurate monitoring of application usage, and facilitating license harvesting and compliance
7) Details on discovered software applications including software category and threat level
This IT asset management software solution would deliver a comprehensive up-to-date network inventory whenever you desired. You could view and manage the network efficiently from anywhere at any time. You could gain access to any computer or server, and troubleshoot any issue from your office. You’d know, at any time, exactly what software was running on the system, when the system was installed, when the license expires, its OS version, the latest security update installed, how much memory or capacity it had and so forth… down to the smallest detail.