How to find a good fixed asset management software and reap benefits for years?

Posted by AmandaTom on June 16th, 2015

Fixed assets are backbone of most businesses. So size of a business really does not play a big role when it comes to managing your fixed assets. Facilities, Properties, Equipment’s, Plants, Commercial assets the list is really long when it comes to fixed assets.

In the UK, there are 22 software companies which provide fixed asset management software. Most of these fixed asset software’s will work for any industry type but there are some specialised industry focussed software too. For example, Yotta focus on highways asset management and Parago focus on managing fixed assets for schools and educational set-ups. I guess the key question is how to find the right fixed asset management software?

Are you thinking spreadsheets instead of fixed asset management software?

Some of us know how to use it and some of us don’t, but we all have used spreadsheets from school till retirement, even maybe after retirement…

Spreadsheets may be a good starting point. But to get real benefit of managing fixed assets so that they contribute to your business to become responsive, agile and more profitable, then fixed asset management software may be mandatory.

As we all know, spreadsheets don’t tell us when we put in something wrong or when we have made an obvious error. Fixed Asset Software do!

Not to forget reporting, fixed asset management software’s are designed to provide you reporting so that you can efficiently manage the complete lifecycle of your fixed assets - from Procurement, Usage to Disposal.

Fixed asset management involves accounting, depreciation, servicing and much more. If done correctly, fixed asset software can help you to get 5-10% additional efficiency/savings (so if your fixed assets are worth £1 Million then 5 to 10% equates to £50,000 to £100,000). So the stakes are high to take chances with manual processes.

Find me a good fixed asset management software…

Success of fixed asset management software depends on the software and the supplier you choose. There are two parts here – 1) To ensure you have the right business requirements and have not missed any obvious areas and 2) Finding a good fixed asset software that closely matches with your requirements.

You can go to the web, use any of the popular search engines and start your search for the right fixed asset management software. Most people make mental maps of comparison when looking at different fixed asset software.

You can look at all the search results, get into each suppliers website & find details of their fixed asset software, put in your contact details to get some whitepapers or demos. The process can be long. It can take anywhere between few hours to few days to come up with some good info. Generally finding a fixed asset software is not the core part of our job so we have to squeeze the time (amongst other important things) to find a good software. Also, most people never look beyond page 2 of any search results page. There are a lot of quality fixed asset management software companies beyond page 1 which you may miss.

The alternative is to use comparison website to find your fixed asset management software. At comparesoft, you can answer just simple questions regarding your fixed asset software requirements to instantly get your customised shortlist. You can also view product brochures and video demonstrations for your software options. The process is straightforward and you will get comparison of fixed asset management software’s in less than a minute.

The easiest route to get the right fixed asset management software is to compare them. Most asset managers spend quality time looking through their options so that their chosen fixed asset software is fully in line with their requirements.