Why does the Fixed Asset & Inventory Tracking solution become mandatory?

Keeping a record of thousands of assets on spreadsheets is not less than a nightmare. IT asset management software can make this dream come true. 

What is asset management software?

It is a centralized system that permits businesses to track the details of each asset in real-time. The asset inventory services allow the companies to concentrate on enhancing their facilities, declining administrative costs, getting higher visibility into asset utilization, maintenance, and value. Thus, software needed for the management of assets is widely used and appreciated as these don’t permit businesses to interface frequently to check the actual position of its assets. 

TRAXX  offers RCS as the best it inventory management software that will endow you to look at your assets live at the place you are available along, taking its maintaining records and more.

What Does Fixed Asset Management Software Do?

Installing an asset management software will assist you in the following ways:

1. It helps you to store details and documents of every asset:

As per accounting standards, it becomes mandatory to store every aspect of your assets. Thus, fixed asset inventory software performs this task in a very effective manner. It helps the organization’s to record all assets, including those on lease in term of recording:

 Commencement and finished date

 Contract, terms, agreement, and type

 Fair market value

 Monthly payment

 Lessee terms and conditions

 The useful life of assets

In a nutshell, with asset management software, it becomes easy to upload the required documents within seconds. Even, users can upload pictures of each asset to access whenever needed.

2. It Permits Users To Locate Any Asset Seamlessly

By using the Fixed Asset & Inventory Tracking solution, the users become able to find out assets by using the following information:

 Purchase date

 Install date

 Location

 Asset type

 Warranty date

3. It assists to know about the total cost of ownership

The best benefit of using the asset inventory services is, users become able to know about the total cost of ownership to decide whether a specific asset is valuable to an organization or not. Briefly, there are circumstances when the cost of ownership is much more than the benefits users are getting from the assets. In those cases, it is better to make a decision soon.

TRAXX FAMS offers the best it inventory management software to track and maintain your assets to the fullest. To know more about it, make sure to consult at its official website.