Benefits of using an Webscreations Fixed Asset Management Software

Posted by Anthony Kelly on January 11th, 2020

AsseTrack FAMS is a Web-based Fixed Asset Management software that tracks asset register, asset depreciation, repair and maintenance, check in/out etc. Webscreations Fams is a web based asset management software designed for the efficient management of any company’s fixed assets. Each Institution needs to know the value of their fixed assets, their location, custodian, the date they were checked out, expected return date and the current status of each asset. It is also important to have a software that tracks the movement history of each asset and its depreciation as time passes by. The main part of our Fixed Asset Management software is to be able to scan/discover all the fixed assets in your network. Only when you have discovered all the fixed assets you can efficiently monitor and manage them. Our fixed asset management software gives you a wide range of asset scanning methods to make sure that you get them all.

Asset Management Software
Asset management software is a fixed asset software for monitoring assets and tracking fixed assets for the entire life cycle.
Fixed assets management is an accounting process for tracking fixed assets for the purposes of cost variation, monitor, financial accounting, preventive maintenance, and theft deterrence. Our fixed assets management software for fixed asset management is targeted for schools assets, companies assets, NGO’s assets, County Government assets, Church Assets, Governments and parastatals, Universities and colleges and small organizations small and large.

The main part of our Fixed Asset Management software is to be able to scan/discover all the fixed assets in your network. Only when you have discovered all the fixed assets you can efficiently monitor and manage them.

Our fixed asset management software gives you a wide range of asset scanning methods to make sure that you get them all.

AsseTrack FAMS – Asset Management System gives you:-
A comprehensive fixed asset register with details such as asset type, serial number, location, department, custodian, purchase date,current value, etc.
Categorization and grouping of assets into accounting groups such as Computers and accessories, Furniture and fittings, Buildings, Machinery and tools, Office equipment and Motor vehicles. Other groupings based on location, department and asset status are also available.
Management of personnel using the assets and tracking who has what at any time.
Asset allocation control that registers checking in and out of assets. History of asset movement also logged.
Asset maintenance tracking. For serviceable assets, details on history of service, next service dates and warranty validity are kept.
Asset disposal records. A record of all assets no longer in use is kept to indicate their residual value for accounting purposes.
Vendor information. The system records contact information for various vendors that supply the assets and associates them with those assets.
A dashboard showing important summaries
Access control. The data is secured and access to each module is controlled using user roles.
Check in Check out Feature
Asset Depreciation
Problems Experienced by Businesses Without Asset Management Software Include:-
1. Poor Maintenance Procedures
— Creating and sustaining an operational workplace infrastructure is not only costly, but also time-consuming. The inability to keep a close eye on your machinery is a serious mistake that can result in misuse of assets and poor maintenance, which ultimately breeds workplace inefficiencies.
— Asset management software helps track who is using a specific machine, how he is employing it, and the last maintenance undertaking. This keeps your assets in the best condition possible, thus increasing your venture’s overall revenue.

2. Improper Risk Management
— The secret to developing an operative system and making the best of your assets is learning how to manage risks. Generally, this involves identifying system problems on time and attending to them before they escalate. An asset management system provides a comprehensive database that outlines the entire history of your equipment, showing the previous problems experienced and how they were handled.
— This software enables you to anticipate a possible breakdown, which helps you put in place mitigating measures.

3. Increased Cases of Theft
— Without an asset management system, knowing what you have is practically impossible. Offering an extensive list of all the assets in your venture, this tool helps you identify both dormant and active equipment, thus reducing cases of theft and misplacement.

4. Increased Insurance Charges
— Insuring assets is a common phenomenon, especially for organizations dealing with highly perishable merchandise and expensive apparatuses. However, failure to adhere to the necessary regulations or constantly update your insurance company on the nature of your assets can result in soaring insurance costs.
— Webscreations fixed asset management system provides updated details regarding your equipment, thus helping insurance companies to revise their plans.

Other Common Problems Include:
— Inability to virtually manage your assets
— Inability to optimize your assets
— Cases of a data breach
— Poor equipment scheduling
— Waste time, effort, and money searching for and replacing lost or missing assets
— Low-cost asset registers do not provide the flexibility to configure their applications as needed
— Help desk systems containing asset registers rarely provide the functionality and accessibility needed to manage assets effectively