Web based Fixed Asset Management System (RS-FAMS)
What is a Fixed Asset Management System?
- Real-time Tracking
- Monitoring equipment’s across multiple sites
- Optimizing Company’s assets to its full use
- Reducing maintenance costs and unplanned downtime
Organizational Challenges with Fixed Assets
- Unclarity on Assets location and numbers
- Multiple Assets usage with no ownership
- Ghost Assets on Outdated Records
- Duplicity of assets
- Absence of Formal Asset listing and evaluation
- Non-verified Insurance claims
- Uncalculated tax and repair pay on Company’s Assets
- No way to ascertain the quality of items from different vendors.
How does the Fixed Asset Management process work?
Scope involves Quantifying the total task involved. Work Plan sorts expected deliverables and scheduling activities. Physical Inventory does the Barcode or RFID Tagging on the ground. Taking Inventory. Reconciliation involves mapping book and ground finding any discrepancies. A detailed Reporting for internal use and statuary purpose. AMC/Warranty, Insurance Period Tracking.
- Furniture & Fixtures
- Plant and Machinery
- IT Product (Hardware & Software)
- Vehicles and Buildings
Fixed Asset Management Advantages
- Reduces Capital Expenditure by optimizing usage of Assets
- Income Tax Savings with writing off un-used/lost assets
- Formal, Accessible Asset Software for easy Operational task
- Increase in Profit