Asset management is the process of tracking and maintaining an organization’s physical assets and equipment. Asset may include vehicles, computers, furniture and machinery. Fixed asset management enables organizations to monitor equipment and vehicles, assess their condition, and keep them in good working order.
In this way, they minimize lost inventory, equipment failures and downtime and improve an asset’s lifetime value. Whether you are a landlord, professional real estate investor, or you own or manage a small business, quality fixed asset management is a priority for your financial needs.
We Provide Solutions Not Products
We provide asset management products and solutions to companies to enable them track their gadgets and machinery. This enables organizations to monitor equipment and vehicles, assess their condition, and keep them in good working order. Asset tracking gives companies the following key benefits.
When to employ?
Historically, small amounts of fixed assets were not seen as a major risk to small and medium sized business owners. But as fixed assets like land and buildings are often the largest item on your balance sheet, you are exposed to higher risk from valuation errors and misreporting.
If your organization was formed prior to the digital age, it is likely to have fixed assets incorrectly reported due to vague descriptions, lost records, ghost assets, asset grouping, and other data gaps. Whether your real estate portfolio is comprised of just one property or several, you need accurate records of valuation and depreciation for all of your properties.
If you wish to sell your business and need valuation, or you are seeking capital for your business, accurate fixed asset reporting and reconciliation is a must. At Multiplex Systems, we take fixed asset registers seriously and will ensure that your tax and regulatory risk is minimized. Every industry from manufacturing to healthcare and non-profit to real estate has unique financial and compliance risks in addition to potential tax consequences.