Asset Management

Asset Management

Masters: Fixed Assets Definition (Group Creation, Sub Group Creation, Assets Definition), Maintenance Executive, Breakdown Management (Breakdown Type, Breakdown Reason, Breakdown Maintenance safety Master), Depreciation Management (Rate of Depreciation, Depreciation Group and depreciation Sub group)

Transaction
  • Maintenance Management
    (Break Down/Preventive Maintenance/Productive maintenance Job card Creation)
  • Multiple Approval
    (Safety Department approval, Process Department Approval, Maintenance Head Approval)
  • Maintenance Completion
    (Close Job Card, Spare part details, Test Drive)
  • Test Approval
    (Approval by Safety Dept, Process Dept, Maintenance Dept)
  • Depreciation
    (As per company Books & as per IT Act with WDV and SLA Method, Depreciation Voucher Posting)

Asset management streamlines and records maintenance activity and allows audits until asset retirement. Online ERP Software also automates IT asset life cycle with work flows. Asset management helps in making informed decisions about asset capacity, refresh and vendors by using a single system of action.

This
Web-Based ERP Software provides a single system so that software can be transit from reactive to proactive and be audit-ready. It is a set of business practices which includes IT assets across business units in the organization. This ERP Software Solution combines financial, inventory, contractual, and risk management responsibilities to manage asset life cycle. This is made effective using meta data, electronic records to track and categorize different assets. This software allows an accurate account of technology costs, maximizes the business values, funding and sourcing decisions. ERP Development Companies are focusing more on usage and information values instead of focusing on data quantity and accuracy.

ERP Vendors in India are trying to manage the growing inventory of all types of software, and infrastructure that is not in the process of growth, but there are few features of asset management that have taken into account.

  • It deploys all hardware and software inventory & asset management process
  • Asset data audit and tracking
  • Tracking all hardware & software asset within a single database
  • Tracking asset throughout the life cycle including, move, add, delete and change activities
  • Easily accessible vendor, service and maintenance contracts and making accurate tracking of financial changes.
  • Information about the physical location and status of each asset

Below is the list of benefits that asset management can provide to your business

  • Huge asset visibility -
    This level of visibility helps in improving business infrastructure efficiency and performance and minimizes operational costs. It resolves any pending and improves the quality of services.
  • Minimum procurement cost -
    With great asset, visibility comes better procurement plans. Without the proper knowledge about the current value of the assets, it can be difficult to spend on assets. Cloud-based ERP Software allows the asset manager to get the maximum value and plan in advance for future assets.
  • Maximum accountability -
    An Online Manufacturing ERP Software helps in keep accurate record of asset projects, and also locates any missing asset that was not reported by the user. Asset management software makes it easy to manage check-ins and check-outs, asset reservations etc.
  • Technology life cycle management -
    Automated ERP for Manufacturing Industry ensures it keeps a track when hardware is procured, its deployment, use time and depreciation rate. It helps them track updates, maintain schedule, and security requirements. It also minimizes the downtime of assets and save operation expenses.
  • Improves customer service -
    Manufacturing ERP Software allows to keep a tab on customers' asset and track efficiency through internal process, as customer hopes for a positive return on investment when they indulge in a business with others and expects to be provided with the information in real-time.
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