Fixed asset control is the process of tracking and maintaining an organization’s physical assets. The asset includes vehicles, computers, furniture, tools, and machinery.
The better a company controls its assets, the higher the value from these investments.
Asset tracking is an important concern of every company. Fixed assets are defined as permanent objects of an organization. While employees may use a general tool or tools, the asset eventually belongs to the company and must be returned. And therefore, without an accurate method of keeping track of these assets, it would be very simple for a company to lose control of them.
Using an asset management system, organizations can:
- Detect and monitor fixed assets
- Overview a piece of equipment and machinery in an organization
- Reduce the maintenance costs
- Improves the asset's operational efficiency
- Records the data of damaged, unused, sold, stolen, or lost assets
Asset control helps organizations to monitor assets and equipment, keep track of their condition, keep them in good working order, and improve their lifespan.
How an Asset tracking software can help?
- Asset tracking software allows companies to track what assets it owns, where it is located, who is using them, and maintenance schedule.
- Most asset tracking solutions provide data such as assets by department, assets by location, audit history, and service history for assets.
- These documents can be stored and used on PCs as well as mobile devices. As a result, companies reduce expenses through loss of assets and improved equipment maintenance. It also reduces new and unnecessary equipment purchases.
- Task assignment allows individuals to accept responsibility for assets. The asset location is then inferred based upon the person who has accepted responsibility.