Most Interesting Findings
Many companies use spreadsheets these days, and for a variety of different reasons (tracking hours worked, sick days and holidays, tracking petty cash and expenses, etc). On the whole, spreadsheets are fine performing these basic tasks, and with new additions to programs like Excel (see Pivot for example), the usability and functionality of these spreadsheets is steadily increasing.
However, spreadsheets are often used for tracking a companies fixed asset management data; a job for which they are generally not suited. The use of spreadsheets just can’t give you the level of control over your fixed asset information required to run a financially responsible business.
So why are spreadsheets so unsuited to this job? Most pertinently, working with spreadsheets will almost always result in inaccuracies in your data. Whether it’s user input error or an unintentional miscalculation (very easy to do with spreadsheets), it could end up costing you a fortune in the long run.
Another big disadvantage is the sheer time and effort it takes to input data on a spreadsheet; the amount of time wasted on data input, coupled with the likelihood of a user input error, means that you simply cannot rely on the integrity of the data, a particular worry when it takes so long to add to the system.
So what alternatives are there for keeping control over your fixed assets information? Probably the best asset management software solution would have to be dedicated asset management software. This kind of software come with stringent security features that mean you can be sure of avoiding user input errors. You can also automate the whole process of fixed asset management, meaning you can cut down drastically on input time and retain 100% confident in the integrity of your data.
Let’s not forget the considerable financial incentives of employing dedicated fixed asset tracking; properly managing and accounting for fixed assets, along with maintaining a current inventory can result in substantial returns on your investment.
Automated asset management software is a hugely advisable, crucial element in achieving a streamlined workflow process, accurate accounts and financial statements and a more responsible attitude towards financial management.
Tags: asset management, Business
Posted in Business · May 29th, 2010 · Comments (0)
As environmental issues become more and more pertinent to governments worldwide, companies both at home and abroad are having to adopt new, permanent policies aimed at reducing their carbon emissions.
But as companies are being more and more pressured into lowering their emissions and becoming more environmentally friendly, the previous generic company policies are no longer enough to keep governing bodies satisfied. No longer will governments be placated by general, loose statements and environmental strategies. So press releases regarding recycling and being committed to lowering emissions and carbon footprints alone will not cut it, companies need to be able to present real, auditable data and policies; it’s transparency in data and strategy that we’re now looking for. We don’t want to just hear promises from businesses on green policies, we’re now expecting to see them in action, achieving real results.
A companies’ assets and their choice of management options for those assets is now being seen as the best place to start in approaching a transparent, auditable green policy. Companies will now be examined and judged on their effectiveness at asset management; how well they can provide clear information and improve the overall life span of their fixed assets.
The level of asset management required is no small task however; if we look at most national and international environmental directives it’s clear that they are expecintg a level of asset tracking a long way above the level most UK and EU companies are likely to be operating at. The only conclusion we can draw from this is that companies with insufficient asset management capabilities will struggle to meet ever increasing demands on national and international companies’ carbon emissions.
So how is it possible for these companies to achieve this kind of level of effective asset management? One option is to take on a company to perform asset management externally, although this is likely to be a fairly expensive eventuality. Perhaps a more useful option for most companies would be to employ inventory tracking software; allowing them to effectively track their inventory, improve overall life of assets and adapt more effectively to the green economy.
Tags: asset management, Business, green policy
Posted in Business · May 27th, 2010 · Comments (0)