Unlocking Business Growth: The Power of Sage Fixed Assets
In today’s dynamic business environment, assets form the backbone of any thriving enterprise. From machinery in a factory to the laptops in a modern office, fixed assets are integral to daily operations. Yet, how many businesses truly harness the power of effective fixed asset management? This blog explores the transformative potential of optimizing fixed asset management to drive business growth with Sage Fixed Assets.
Pressures Driving Users to Fixed Asset Management
Numerous pressures drive manufacturing organizations to focus resources on a fixed asset management solution. These include increased volume and complexity of data, maintaining security and stability of data, and leveraging the limited availability of skilled resources. Aberdeen Strategy Research conducted a study that found:
62%
Aberdeen finds that 62% of companies experience challenges with spreadsheets because of their manual nature of input.
64%
With spreadsheets, 64% of companies without fixed asset management are impacted by version control issues.
54%
A lack of security in spreadsheets means that sensitive numbers may be revealed to the wrong set of eyes, as reported by 54% of all companies.
Instead of a set of error-prone spreadsheets, a fixed asset management solution offers both a database and a calculation engine for asset depreciation, asset taxation, and accounting rule compliance. Learn more about Abreeden’s study.
Fixed Asset Management and Business Growth
At its core, fixed asset management involves the process of tracking and maintaining a company’s tangible assets, ensuring that they’re used efficiently and maintained properly. This encompasses everything from acquisition and initial valuation to depreciation, maintenance, and eventual disposal.
Cost Savings
Properly managed assets have longer life spans. By tracking maintenance schedules and ensuring timely repairs, companies can avoid premature replacements, leading to significant cost savings.
Accurate Financial Reporting
Effective asset management ensures that depreciation is calculated correctly, providing a more accurate picture of a company’s financial health. This transparency can aid in securing loans and attracting investors.
Boosted Productivity
When assets are well-maintained, downtimes reduce. A machine that’s up and running is always more productive than one that’s down for repairs.
Improved Asset Utilization
Knowing where and how assets are deployed enables businesses to optimize their use, ensuring no assets are lying idle or are underutilized.
Sage Fixed Assets
While the advantages of effective fixed asset management are manifold, the success of its implementation largely depends on the tools at hand. Sage Fixed Assets, with its comprehensive suite of features, positions itself as an indispensable ally in this journey. For businesses looking to unlock significant growth and ensure a streamlined operational process, adopting Sage Fixed Assets is more than a smart choice—it’s the perfect solution to elevate your asset management game.
