Every company has assets that should be managed every day. For the person just starting out, all you would have to do is write down your assets on a sheet of paper and provide information such as a description, the date that it was put into service, the amount of the asset and the service life.It does not have to be anything complicated when you are first starting out.
But, as the company matures, it is time to purchase a new asset management system.Even during this growth period, look at the pros and cons of investing in a full fledge system for your assets.For a bigger company, this may not be something that you need at this point in time.
Technology is there to make life easier.It should not add an extra layer of work.Why pay a lot of a system when you do not have a lot of fixed assets?You have a few items that you can monitor without the need for a system.But, if the company expands and each department grows, then you need to invest in a good asset system.
Smaller companies have different needs from larger ones, quite naturally.A larger company will have a more detailed asset system than a small business.For instance, a hospital that has tons of expensive medical equipment would need a much different system than a company that only had a few lamps and chairs.An asset management system should be organized enough to help with your finances.Essential business info and details can make a huge difference for a company’s expenses.A good asset system should help out at tax time.Do not ignore any information, no matter how trivial.Having extra info is better than none at all.
The key reason for owning a new asset management sustem is for keeping track of the company’s many assets. They should be used in the best possible way at all times.If you do not know where they are, there could be a chance that they should have been retired a long time ago.What about the broken down assets that need fixing?Do you know how long they have been out of commission?Should we fix them?Should you have sold them a long time ago?Do you have assets that are not practical at this point?An asset management system can give you solutions.This is the only way that you will know what is on hand and how to use them to your advantage.
Both large and small companies can benefit from an asset system.Every company should know how to keep track of their assets and maximize them.Use your assets to make your company much better.
Learn more about Hardcat by visiting www.hardcat.com.