We’ve all used them, spreadsheets, whether it’s to do a simple list of items, or whether you are looking to create advanced sums for business forecasts. Despite being a pain to use and not having all our required features, we still use them for our work. No doubt the reason for this is because we would rather use a free package that came with our PC, instead of buying a new one that’s more suitable for the job.
Even though spreadsheets come with a number of problems, they do have some useful features. The main advantages are that they can manage simple math calculations, create visual graphs and finally create easy to manage business forecasts. They all prove to be useful at some point in time. However, because they do have their downsides, they are not suitable for some tasks such as tracking your UK fixed assets.
Despite it sounding like a very good tool for storing asset data, it’s just not as complex as an asset tracking software UK package.
To a certain extent, a spreadsheet is useful for asset management, however, as you increase the amount of assets your company has and the amount of data you want to store, they become useless.
Here are just a few of the points that should be required by any asset management software.
- They are required to store enough in-depth data about your items. Even though the amount of data a spreadsheet can store is enough for some tasks, in asset management it tends not to be. The information stored may also not be detailed enough.
- They must be able to match the structure of the company. If the particular asset can be located in a number of sectors within a company, a basic spreadsheet cannot reflect this complex formation.
- They should be able to be restructured quite easily. Once you start creating a more advanced spreadsheet, it then becomes tough to add new data and alter the structure.
- They should be able to calculate different depreciation rates on individual items. If a number of assets were linked together, however they had been bought at different times, such as a computer, keyboard and mouse. The software should be capable enough to store individual price depreciation levels.
- The software should be able to do re-lifeing of business assets. If an asset is assessed and found to be useful, the depreciation level must be altered as the asset is now useful.
- Must be able to create structured reports. Spreadsheets make it difficult to create useful, structured data reports.
Those are just a few features that should be contained within any software package designed for asset management. Plus it’s why a standard spreadsheet package is not suitable for storing company asset data and adding the data to a fixed asset register.
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