Blog Your Site

Asset tracking is often considered to be an imposition on US businesses purely as a consequence of SARBOX, but asset tracking is more than just an accountancy compliance issue.It’s an essential component of informed and sound management.Assets must be managed both financially and physically and to do that you require knowledge of just where all your assets are.Many companies rely on a conventional spreadsheet approach to try to keep track of their fixed assets to ensure the company is compliant with national and international regulations.

That’s especially important with IT asset tracking for example tracking fixed assets.IT equipment is at the heart of any business today and often changes during its operational lifetime.Components can be switched, replaced or upgraded.Software especially is frequently installed, uninstalled or upgraded.Many of these changes are internal and therefore normally “invisible”. The value and highly portable nature of laptops, notebooks, peripheral devices and other items like the Blackberry may also explain their tendency to “disappear”.

Central to any fixed asset tracking system should be a powerful, centralised database which provides controlled access for all parties that require it. This system should also have the capacity to include information about those invisible software assets sitting on your IT network how many programs and whether they are licenced or not?Ideally, a single audit should have the capacity to cover multiple locations and thousands of assets. It should also be fully compatible with inventory management systems.

This is particularly important with many asset tracking software packages designed to control and manage mobile and fixed assets that incorporate bar coding and RFID asset tracking (Radio Frequency Identification) technologies. Hand-held scanning devices can work with both accounting and tracking modules to provide an accurate, validated, and consistently current database. This will enable users to comply fully and confidently with auditor requirements relating to accurately accounting for and tracking their asset base.Once the audit data has been uploaded into the asset or inventory register, managers can get reports detailing total assets and suggested actions (dispose, relocate, upgrade etc) for each of the assets.

Related Posts:

• Related posts on business accounting
• Negotiating The Business Software Minefield | Business Software
• QVC PR Dept. Gets Cute With Headline: 'Not Just Another Manic …