As a result, your colleagues will benefit from well-maintained tools and equipment that work to the best of their ability. Your fixed asset inventory will help you make business-minded, practical decisions that keep everyone happy. The ability to track depreciation helps here, too. One of your KPIs will be your fixed assets’ output, and so to achieve higher goals, you’ll be able to improve this output by replacing uneconomical assets. If, for example, an asset has had a long history of reactive maintenance, being able to log this in your fixed asset inventory software against the asset allows you to make better decisions in future when the same asset is repeatedly presented for repair. Whether it’s in terms of profits, or the performance efficiency of assets themselves, a fixed asset register will help you re-evaluate your KPIs.īeing able to monitor the performance efficiency of your assets allows you to see how effective they are and how economical.
While a maintained list of your fixed assets is important for auditing and accountability, asset register software can provide you with so many more opportunities than just seeing what you own. Īt a glance, a fixed asset register may look like it’s simply a list of your assets. In order to optimise the running of your business, it’s important to maintain an updated fixed asset register. Without a fixed asset register, a lot of gaps may arise. The purpose of a fixed asset register is to keep your business running optimally. 4 Start Building Your Fixed Asset Register Today
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