Aberdeen Research Top fixed asset management strategies
In the competitive landscape of today’s market, managing fixed assets efficiently is more critical than ever. Sage’s latest report delves into the essential aspects of Fixed Asset Management (FAM) strategies and their impact on large, asset-heavy enterprises.
Key Takeaways from the Report:
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The Necessity of Close Management: Effective fixed asset management is crucial for large enterprises with significant asset portfolios. Proper tracking and management are necessary to avoid compliance risks and ensure accurate financial reporting.
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Compliance Risks and Depreciation: Correct depreciation schedules are vital. Inaccuracies can lead to "ghost" and "zombie" assets, resulting in severe non-compliance consequences and financial discrepancies.
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Benefits of FAM Technology: Leveraging FAM technology helps mitigate these risks. Research shows that almost two-thirds of large enterprises use FAM technology integrated within their enterprise systems and achieve substantial benefits.
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Thriving Through Integration: Companies that effectively utilize FAM technologies see significant improvements in managing their fixed assets, leading to enhanced compliance and operational efficiency.