Business Solutions
Posted By Amal Aziz

This Is Why You Should Care About Tracking Your Fixed Assets

In the business world, time is money and money is essential for the progress of businesses. Business owners have to be concerned with their business as well as the fixed assets that are actually making the business. Fixed assets are the most important factor in any company. The reason for many companies’ success is that they properly track & manage their fixed assets.

By efficiently & effectively tracking fixed assets, integrity of data will not be compromised as everything is recorded on a database & fixed assets cannot be mixed with one another. Time & costs will be significantly reduced that’s because when performing the inventory, you will not need additional staff (paying additional salaries) to conduct the overwhelming process as tagged fixed assets can be scanned using an RFID reader that reads hundreds of tags at once & from a distance that could reach up to 12 meters & without the need of a line of sight. Conducting the inventory process takes 3 hours instead of a day.

If you want to optimize workflows, streamline inventory control, better manage assets, and improve performance that will reflect on your company’s bottom line then you need to track your fixed assets.

Frankly, there are many reasons why should track your fixed assets. Some of which are:

  • You’ve already paid an arm and a leg to purchase huge amounts of assets
  • Fixed assets are a part of your investment
  • You need ultimate visibility and transparency over these fixed assets in order to ensure a smooth workflow and enhanced productivity
  • Ensure accuracy (depreciation calculation)
  • Spreadsheets in many cases have failed to address many issues one of those is the conflicting copies that confuses employees and lead to costly errors impacting the overall bottom line of the company. Spreadsheets are not accurate whatsoever as they rely on manual data entry and usually gets all mixed up when it comes to accounting calculations that ends up costing the company even more money.

In essence, tracking your fixed assets properly will lead to saving both time and money, increasing productivity and generating more profits. Thus, managers can guarantee their success in such a competitive environment.

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I have always struggled with such boxes, so I'll try to keep it short. I am a copywriter at a programming company. I am a content curator. I write. I edit. I re-write. I re-edit & sometimes I bang my head on the wall just to get that word that I've been searching for for a week. I read. A LOT. Basically, that's what got me into writing in the first place. I'm obsessed with cinema. Frankly, I'm obsessed with everything that tells stories and makes me overflow with emotions. Things that make me weep for a week or so are my absolute favorites. Hmmm.... that's exactly what my ex has done, he is not my favorite though. I'm passionate about food, fashion, traveling & dogs. I'm 25 but I've always felt that I'm way older. I believe that I was born in the wrong era, and possibly the wrong place, but that's life. You can't be strikingly beautiful, witty & intelligent, and be born at the right place, right? One just can't have it all. My life basically revolves around writing, reading, traveling, eating & my fiance. He is the joy of my life. To most people I’m the freak, the weirdo, the introvert, the crazy and the rebel, and you know what? I couldn't be more PROUD!

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