Physical Verification? Regulatory Compliance? Asset Tracking? Barcode Generation? Leave all this asset Management stress to Spine Assets!
What if Fixed Asset Management was automated as well? Yes, that’s correct! All the asset management hassle can be automated! Sounds good? Let us go through the features that you must look out for in a Fixed Asset Management Software!
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Asset Assignment
Imagine that you have a brand new asset, let’s say a laptop. You have Mr. Sharma, working at your organisation as a software engineer. You have assigned the laptop to Mr. Sharma. A Fixed Asset Management System allows you to make a record and track the laptop you have provided to Mr. Sharma. Besides that, if you provide Mr. Sharma a new laptop or PC, you can just replace the barcode attached to Mr. Sharma’s name! This ensures that you have the data for who has the particular asset and where it is currently. The system gives you all the information you need for tracking the assets if you update the data regularly.
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Regulatory Compliance
Asset management compliance is required to manage assets as per the standard of the business specific sector. An organisation must comply with the relevant laws and regulations and internal policies. Compliance ensures that the organisation follows the rules made by the government and authorities. Spine Assets has integrated regulatory compliances that ensures a single source of data for finance with use of history to reinforce established guidelines.
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Document Attachment
Getting back to Mr. Sharma, you can attach documents like photos, manuals, invoice, purchase information, warranty or service cards to the laptop provided to him. First off, this makes sure the documents are not lost and can be retrieved whenever required. This also helps in setting reminders for service due, lease contract and other such payments or service charges.
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Asset Tracking and Labelling
If you have not heard about Barcode Labelling in Asset Management, Let me take you through the magical process of Barcode Generation and Labelling. Labelling your assets helps you in tracking them. Remember Mr. Sharma? If the laptop provided to him had a barcode assigned to it, you could track the laptop’s journey as well as history of the asset, which includes- who, from which department, at what position had that particular laptop before Mr. Sharma and after him. You can generate customised barcodes as per your needs. Through this barcode you can keep an eye on who has the possession of the asset and much more!
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Asset Auditing
We are well aware of the benefits of frequent Fixed Asset Auditing and if not, let me just list down some of the advantages-
- Identifying Discrepancies
- Isolating Errors
- Compliance Regulation Check
- And many more!
Now that everyone of us has a basic idea of why Fixed Asset Auditing is beneficial for your organisation we must also know that maintaining a Fixed Asset Audit Report as well as Register is very important as it helps you maintain a regular and updated record of your assets. Alongside that Spine Assets also aids you in the Physical Verification of your assets! This ensures that Mr. Sharma’s Laptop doesn’t go off your radar during the verification of your assets!
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Lifecycle History
Remember back when we assigned a barcode to the laptop which was provided to Mr. Sharma? What if you need to know to whom the laptop was assigned to before Mr. Sharma? Or the service due, or any such information? A Fixed Asset Management System will provide you the whole lifecycle history of the asset! Storing detailed asset information and financial history provides organisations with valuable data to enable business decision making.
Summarizing, A Fixed Asset Management System should be comprehensive and should help you manage your assets from acquisition to disposal. Spine Assets assists you in tracking your assets, Regulatory Compliances, Audits and Physical Verification of assets and many other asset management utilities. If you are looking for a one-step Fixed Asset Management Solution, Spine Assets is the way to go!