Managing fixed assets is one of the most important part of any business organization's strategy. It involves monitoring of all asset purchases. Irrespective of the size and type of business, keeping track of assets is important for every organization as it can save both time and money. Often business organizations try to overlook the importance of proper asset management unless they have to face some loss, which sheds light on the need and importance of managing the fixed assets properly.
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Manually managing these assets isn't easy as it requires a lot of effort and time. Managing proper, up-to-date and accurate data of fixed assets can be challenging, especially when it comes to preparing reports for audit. This requires reams of paperwork along with a team of people to work on it. The only way to properly manage and track the fixed assets of your company is deploying a good and robust fixed asset management solution.
But, with so many different types of such software available in the market, confusion is inevitable.
List of top 5 Fixed Asset Management Software
1. Smart Assets
Smart Asset Manager is a Fixed Assets Tracking and Management software that helps in tracking and managing your fixed assets as well as their depreciation. This software comes with features like sub-asset tracking with respect to individual assets, revaluation of assets, records custodian and department responsible for the asset, transfer of assets with acknowledgement, captures purchase information, recording the maintenance costs of individual assets, management of leased, bonded and written off assets and multiple depreciation systems including gaap to name a few.
2. Spine Assets
One of the most comprehensive, user-friendly and comprehensive software, Spine Assets helps managing depreciation accounting, keeping in view the necessities of India Companies Act, Income Tax Act and Management Act. Some of its features include asset acquisition, depreciation calculation, inventory management, document management, tax management, asset lifecycle management, bar-code label reader, asset relocation, accounting etc.
3. EAMbrace Asset Management
EAMbrace is an enterprise asset management solution that is designed to help all business organisations, irrespective of their size, to manage their fixed assets spread across different locations. It acts the perfect electronic fixed asset register. audit trail, barcode scanning, asset management, vendor management, lease management, disposal management, fixed asset register, depreciation management and asset lifecycle management are some of the key features of this software.
4. FAMS Assets Management
A comprehensive, web-based fixed asset management solution, FAMS helps in performing complex depreciation calculations for financial and tax reporting, asset inventory tracking, Barcode and Physical verification. Its key features include inventory management, document management, asset lifecycle management, depreciation management, asset budgeting, tax management, disposal management and data security, to name a few.
5. Asset Reckoner
The first choice of mid-sized companies, Asset Reckoner is one of the most powerful depreciation system. This Fixed Assets Depreciation software helps professionals responsible for asset management to track and manage company's fixed assets easily. It comes with features like asset management, inventory management, asset lifecycle management, asset budgeting, depreciation calculation, depreciation management and multi shift depreciation to name a few.
Here it is! These are the top 5 fixed asset management software, which are preferred by most of the business organisations. You can you can choose one from the list that suits your business requirements and of course your budget.