NetSuite For Fixed Assets - Automate & Optimize Your Assets For Maximum Returns
Every organization wants to track and monitor and optimize their fixed assets, both for short-term revenue generation, and long-term planning.
After all, a fixed asset for any company is a long-term asset, which will not only assist them in generating a new source of income, but also help them to capitalize the same for improving their financial position.
For its purpose, value and longevity, fixed assets are important, and they need to be nurtured. However, here lies the problem: Not every organization is able to optimally manage their fixed assets, and thus, lose on revenues, long term benefits, and in the worst case, even lose the fixed asset for all.
NetSuite, a global leader in Cloud based ERP and CRM solution provider, has understood the problems and issues faced by organizations while managing their fixed assets, and have accordingly devised a robust module: NetSuite for Fixed Assets.
This niche module for fixed assets management not only automates the entire process of managing and nurturing the assets, but also optimises them for ensuring maximum returns.
Find out how!
Track and Monitor Unlimited Types Of Assets In Real Time
One of the biggest issues which erupt while managing fixed assets is real time monitoring and tracking. For example, an organization in the hospitality industry can have multiple properties across multiple countries.
Or an organization from IT domain can have hundreds of computers and expensive gadgets, spread across a city.
Using NetSuite, these companies can map and assign unique identifiers for every piece of asset, and then track them in real time, using tailor-made dashboards.
NetSuite supports unlimited types of fixed assets, and provides tools and features for mapping them, and then assigning key tracking features for seamless integration with the main company’s organizational structure.
Since NetSuite is 100% Cloud based, the concerned authority and managers can view and track their current location in real time, via mobile, tablet or computer.
Depreciation Management Of Fixed Assets Simplified
Depreciation management of fixed assets is an important, and critical aspect in the entire fixed assets management procedure.
Based on the depreciation, taxes are calculated, profits are predicted, and future business decisions are taken.
One of the biggest mistakes which most of the organizations make while calculating depreciation is that they don’t take into count the downtime.
For example, if a hotel property is close for winter season, then depreciation for that period needs to be removed, and marked under downtime.
NetSuite for Fixed Assets management is flexible, and enables the users to manage depreciation based on the actual usage. This, in turn, makes tax calculation and reporting extremely organized, and easy.
Since NetSuite is an integrated framework, and the financial module is closely knit with fixed assets module, the entire financial process from asset creation to profit determination and tax reporting is seamless, and simplified.
We ast Inspirria can assist you in optimising your fixed assets management, and enable your organization to increase revenues using NetSuite.
For information, and guidance, opt for this free assessment right here!
