Managing fixed assets is a challenge that every organization, especially industrial plants, grapples with. Ineffective fixed asset management poses audit risks and can prove costly. Enterprises struggle to fill the gaps in reporting, tracking, and reconciling their fixed assets. Can a mobile asset management solution help? Yes.
A mobile solution for fixed asset management overcomes these challenges. Modern software helps in efficiently maintaining and keeping a record of the assets. Integrated solutions help analyze data track assets and gain actionable insights for managing them.
Benefits of a Mobile Asset Management Solution
Improved Fixed Asset Accuracy and Employee Productivity: Transforms time-consuming and error-prone paper workflows with simple, configurable mobile apps that improve fixed asset accuracy on financial statements by 99% and boost employee productivity by 40%.
Error-free Reporting: Eliminates data-entry errors which may go unnoticed and ensures proper audit trails and history for internal and external audits and reporting.
Maximized ERP Investments: The SAP-certified mobile solution offers out-of-the-box integration with the SAP FICO-Asset Accounting module. Data can now be captured seamlessly using mobile devices and saved directly in SAP.
No Ghost Assets: Banishes negative impact on the bottom line by avoiding large inaccuracies in fixed asset financial reporting. Save as much as 12% on taxes and insurance premiums with more accurate reporting on fixed asset value.
Reduced Tax Liabilities, Insurance Premiums, and Losses: Reduces taxes by retiring fixed assets no longer in use and insurance premiums by properly identifying and classifying assets and their conditions. Quick and accurate audits reduce the risk and potential losses due to theft.
Asset Tagging and Reconciliation for SAP Asset Accounting: Eliminate the need for spreadsheets or manual processes with our easy-to-use asset-tracking solution that schedules asset inventory counts and tracks the status in real time. Field users scan barcode tags to register GPS locations and complete counting, tracking, and reconciliation. Seamlessly integrates with SAP Finance, SAP Controlling, and EAM modules.
Meeting Fixed Asset Challenges With Innovapptive
Innovapptive’s mAssetTag gives organizations greater control and efficiency when planning, acquiring, auditing inventory, and resolving discrepancies in your fixed assets. The solution offers an end-to-end fixed asset-tracking solution that tightly and seamlessly integrates with back-office systems of record (like SAP), delivering total visibility to identify lost or stolen assets, eliminate insurance or tax overpayments, and calibrate business activities with real-time inventory levels.
Our mobile asset tracking and tagging solution tightly integrates with your SAP Finance (FI), SAP Controlling (CO), and asset management modules to track real-time fixed asset inventory and track asset spending and capitalization. It merges with EAM and supply chain processes to optimize fixed asset management and generate asset summary reports, asset master changes, and capitalization all in one place.
In addition to helping asset managers, project teams and field personnel collaborate on inventory tracking, mAssetTag helps ensure that the company employees walk through every step of fixed asset management and inventory processes to eliminate lost or stolen assets, reduce insurance and even avoid federal tax overpayments.
To know more about Innovapptive’s fixed asset management solution, schedule a free demo today or call us at 844-464-6668.
