Asset Software
Asset Software
Assets are anything a company owns for its own internal use rather than resale. Company buildings are Assets, so are the machines in a factory, the computers in an office, and the shelving in a warehouse. Companies keep a record of all assets they own, they are registered when new, depreciated (devalued) by a fixed percentage each year, and eventually written off.
The value of assets appears on company balance sheets, and they must place a realistic value on their assets according to accountancy rules. Keeping track of assets is also important for detecting theft and fraud by employees; inventories are carried out to check that the presence of assets corresponds to the records.
Asset software is designed to implement a register of company assets. The most basic asset software will simply keep a register of the assets owned, allow it to be checked against a real inventory of assets present, and track the value with annual depreciation. Most systems will also provide facilities for using bar code labels, allowing an inventory to be made quickly and accurately with a hand held scanner.
While a basic package will suffice for accountancy purposes, and is probably all that will be used for something simple such as office furniture, companies that have significant investments in specific types of assets will usually track them using software designed specifically for that type of Asset.
For example, a trucking company may use a package specifically designed for monitoring their vehicles. This will not just monitor the book value of a truck; it will track mileage, fuel consumption, service intervals and any other information that may be useful in optimizing their use. The company can analyze the data to establish the overall cost per mile of different trucks, find the most cost effective tires, and detect drivers that are stealing fuel from the tank.
Most companies have a pretty common set of Assets, and may use a general Asset Software which includes special functions for many common types of Assets such as company vehicles, production machinery and computer equipment. Ironically some of the most complex Asset manage packages are for software itself; the management of software is a difficult business and with much of the value being virtual and not verifiable with a simple inventory; new techniques and methods have been developed to track software costs and value.
Asset software frequently goes beyond financial tracking, it often provides for the management and maintenance of the assets as well. IT Asset management software may be able to explore a network and list all the computers, attached devices such as printers, the software packages in use, provide help desk facilities, remote desktops, user bulletins, and real time chat between users and operators. In addition to providing the help and assistance it may log the activity so that it can be charged to the appropriate department.
Correct and efficient asset management can yield significant savings in a company’s operating costs, and the more specialized an asset package is the more money it is likely to save. As a result there are a large number of Asset Software packages on the market to suit individual market sectors, and developing custom asset software is a common task for software developers.
