delqom

Spreadsheets – they’re quite rightly the first port of call when trying to record any data in a simple, tabular form. Although they are not really good enough for our uses, we still manage to put up with them. 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.

Although there are several downsides to spreadsheets, they are useful for some tasks. The major ones are that they are able to create simple calculations, create graphics and manage your business forecasts. They all tend to be useful for certain tasks. However, due to the large number of problems spreadsheets have, they simply are not appropriate for tasks like tracking your fixed asset.

Although it may sound appropriate for storing information about your company assets, it’s simply not as advanced as an fixed asset tracking package.

Up until a point, asset management can live with a spreadsheet, however, once you wish to start storing more assets and keeping more data about each item, the spreadsheet quickly becomes useless.

Here are some features you should look out for when buying an asset management software suite.

• It must be able to store enough information for your use. Although a spreadsheet can store alot of information, it may not be enough. The data that’s stored may not provide enough detail.
• It must be able to reflect the structure of the company, no matter how complex. 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 very flexible and be able to restructure very easily. Altering the structure and data of a spreadsheet is easy, but once it becomes complex, the task automatically becomes difficult.
• It must be able to cope with calculating several different depreciation levels on different assets. 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 must be able to calculate different price depreciation levels.
• It should be able to cope with re-lifeing of assets. If you are re-assessing assets and find that an item has now become useful, you should be able to alter the depreciation levels for that item.
• Must be able to create structured reports. It’s not easy to create a structured data report using a spreadsheet.

That was a list of a few features that any asset management software suite should come with. 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.