Be more efficient in finding out the issues of your fixed assets and take data-driven actions and decisions to achieve optimal operational efficiency with the right tool to help you. That said, find out more about this solution as you read through this article and choose your very own fixed asset management software as early as now.
13+ Fixed Asset Management Software
1. Sage Fixed Assets
3. IBM Maximo
5. Asset Panda
8. AsseTrack FAMS
9. Limble CMMS
10. Infor EAM
11. Nektar Data
What Is Fixed Asset Management Software?
Fixed asset management software is a digital solution designed to help organizations simplify the complexities involved in managing fixed assets and company equipment. With this software, you can access the tools you need to digitize your tracking and monitoring tasks in an integrated platform. It gathers data analytics and measures actionable metrics necessary for tracking equipment performance and managing preventive maintenance.
This software technology helps ensure that the fixed assets owned by businesses are performing the way users expect them to. Additionally, it stores and organizes asset records throughout the fixed assets’ lifecycle for faster asset tracking and report generation processes.
Using fixed asset management software minimizes the need for manually generating and managing spreadsheets and other relevant documents. Also, it has workflow automation capabilities that provide an agile solution for completing repetitive processes and menial yet time-consuming tasks. This software also increases the visibility and transparency of the status and other essential data regarding your fixed assets.
The software market is not short of options under the software category for fixed asset management. It presents a long list of impressive modern solutions offering unique capabilities and a wide range of pricing structures you can consider in making your decision. That said, ensure to know what you are looking for and determine the aspects to consider for effectively selecting the software of your choice. Some items that should be in your checklist for things to look out for are their service offerings, subscription plans, and the following essential features:
- Asset inventory management tools
- Work order management functionalities
- Asset location tracking capabilities
- Asset management features
- Maintenance scheduling tools
- Asset acquisition tools
- Audit management functionalities
- Document management features
- Powerful reporting tools
- Depreciation forecasting capabilities
Top 10 Fixed Asset Management Software
1. IBM Maximo
With this maintenance management platform, you can streamline your activity tracking and inventory management. IBM has 345,900 employees in its team and has 73.62 billion dollars in generated revenue.
2. Infor EAM
Equipment monitoring and regulation compliance tools are features you can use in this asset management software. They have generated a revenue of 3.2 billion dollars and have employed 18,000 people.
3. Sage Fixed Assets
This fixed asset management solution has IT asset management and asset accounting capabilities. Sage has 2 billion dollars in revenue and has 12,000 employees.
360Facility offers digital tools for asset lifecycle management and key holder management. Accruent, its software company, has a revenue of 290 million dollars and has 1,100 employees working for them.
This asset tracking software has functionalities for audit management and asset lifecycle management. They have a revenue of 19.9 million dollars and have 137 people on their team.
6. Asset Panda
With Asset Panda, you can improve your barcode scanning and disposal management practices. They have employed 50 people and have 7.3 million dollars in generated revenue.
This equipment maintenance software has features for warranty tracking and equipment management. Its software company, Wasp Barcode Technologies, has 6.1 million dollars in revenue and has 42 employees.
CHEQROOM is an EAM software that has asset tracking and cost tracking capabilities. They have 21 employees and have a generated revenue of 3 million dollars.
9. Limble CMMS
Features for incident management and capabilities for facility scheduling are accessible in this inventory control software. They have 20 employees working for them and have a generated revenue of 2.9 million dollars.
10. AsseTrack FAMS
AsseTrack FAMS is a fixed asset management system that provides users with asset accounting and depreciation management tools. They have 2.6 million dollars in revenue and have six people on their team.
What are fixed assets?
Fixed assets refer to the property, plant, and equipment that companies use for the long term for generating income. Although, unlike current assets, you cannot easily convert these assets to cash. You have to wait at least one year. Delivery trucks, computer equipment, facilities, and furniture belong on the list of examples of fixed assets.
What are the stages of the fixed asset lifecycle?
The fixed asset lifecycle entails undergoing various phases that involve complex tasks. Strategic planning occupies the first stage of this lifecycle. The steps that come after it is the acquisition, consumption, depreciation, maintenance, and disposal. Businesses should practice this approach from acquiring the fixed asset up to the disposal of the assets.
What are tips for a successful fixed asset management strategy?
One tip that businesses need to incorporate in their methods in this digital era is to overcome the challenges for fixed asset management and go for automating workflows to eliminate bottlenecks using the appropriate modern technology. Also, another one is labeling your physical assets and leveraging historical data to determine the best practices for asset management.
Start going digital to eliminate downtimes and ensure your facilities and equipment are in their prime condition to heighten the value of your fixed assets and extend the length of their lifespan. Achieve overall equipment effectiveness and take a seamless journey in attaining your strategic goals with the best fixed asset management software at your disposal.
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