Technology

Top three software for effective asset management

No matter what the size of a company is, asset management software is crucial for the smooth functioning of the business. Leaving the asset management to a manual team will not only increase the number of people onboard but also reduce the quality of output and increase inaccuracy. A recent survey noted that most US-based finance executives spend about one week every month maintaining a spreadsheet for their assets. This survey called the process excessively time-consuming. Following are a few management software that can increase the efficiency of asset management.

Sage FAS
This software is specially designed to track, manage, and monitor the life cycle of fixed assets. This software’s ‘project snapshot’ feature is a real eye catcher as it allows you to manage capitalized and expensed assets by extracting relevant information about your assets. You can also use this feature to display it as a chart. It also comes with 50 depreciation methods such as straight-line, modified straight-line, user-defined, ACRS, as well as MACRS 150 and 200 percent among other techniques. The software also has 40 customizable fields giving the user complete control over describing the assets.

ProSeries Fixed Asset Manager
This software is used by the top accounting firms to calculate the depreciation and value of their clients’ assets. The software has a set of 35 pre-defined customizable reports with the facility of a built-in report writer and the option to create your report from scratch. The software is 100 percent integrated with other ProSeries apps to facilitate easy transfer of asset data. The software is a top choice with multiple client management features such as client status, e-file status, client checklist, tax planner, and client-specific billing options among others.

IBM Maximo
This software is tailor-made to aid an enterprise with effective in-house asset management. It is not advisable for large enterprises to outsource their asset management, and that is where this software comes into play. With the intelligent scheduling feature, one can easily pair this software with other Maximo software for the best output. One of the main features of this management software is the ability to provide a real-time overview of the assets and resources. It is available in the cloud as a SaaS (Software as a Service), on-premise, as well as a hybrid model. You can choose a model that fits your business style.

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