Asset Management

Asset management is one of the important components of an ERP solution for enterprises. Digitizing the asset management process on a single management system helps an enterprise stay in control and proactive in production and business, while maximizing the potential of each type of asset. This reduces costs and optimizes profit. ...

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Managing assets, materials, and equipment is one of the important components of an ERP solution for enterprises. Digitizing the asset management process on a single management system helps an enterprise stay in control and proactive in production and business, while maximizing the potential of each type of asset. This reduces costs and optimizes profit.

SIS ERP helps enterprises comprehensively solve the challenges of managing assets and equipment. Assets that are properly managed, properly used, and properly maintained improve management efficiency and optimize the asset lifecycle. Beyond that, SIS also helps change the mindset and working methods of related departments to be leaner and more effective.

Here are the reasons enterprises choose SIS for asset management:

Centralized management of asset, equipment, and supplier information.
Proactive, effective preventive maintenance planning.
Reduces equipment downtime and extends equipment lifespan.
Proactive, effective preventive maintenance planning.
Provides full information to support corrective maintenance decisions.
Improves the accuracy and logic of analysis and reporting data.

Key functions of asset management

» Automates the process

» Manages asset and equipment information

» Updates asset and equipment status in real time

» Makes it easy to track and adjust expected workload for the next phase

» Controls maintenance costs; conducts asset inventory and depreciation...

Depending on the purpose and type of asset, the asset management operations and functions are configured within the corresponding modules, such as the manufacturing module, the accounting module, etc.

MANAGING ASSETS, MATERIALS, AND EQUIPMENT

Managing asset information: including static information (attributes) and dynamic information (arising over time). The software allows declaring, updating, and compiling statistics on all static and dynamic information for an enterprise's equipment and asset inventory according to management requirements. It supports barcode-based management, ensuring accuracy and reliability.

Grouping assets and equipment: Various classification criteria such as type, standard, color, warehouse, shelf, unit of measure, etc. The software allows declaring attributes, quantities, and other properties for each different group to meet management needs.

For example: for a vehicle asset group, an enterprise may need to manage attributes such as: vehicle type, manufacturer, engine displacement, driver, daily schedule, vehicle maintenance schedule, etc.

Managing partner information: Manage and store information about partners on a single system (including Customers, Suppliers, Warranty Providers, Repair Shops, etc.). Assign the person in charge and coordinators for each partner.

In addition, SIS also helps quickly bring current asset data into the software to shorten the initial data-entry time, through several convenient tools:

Quickly transfer asset information into the software via an Excel file
Automatically assign asset codes and generate QR codes for quick lookup of asset information
Copy identical assets
Edit information for multiple identical assets

Advantages of asset management

Create detailed asset cards: Track full information on asset name, unit of measure, depreciation period in months, date put into use, using department, reason for formation, source of capital, original cost, initial depreciation rate, and current status.
Create asset change vouchers: Stop depreciation, revaluation increases/decreases, liquidation, asset transfer/sale, major repairs, reallocation. Create issue vouchers for tools and equipment.
Track the number of times tools/equipment are issued and allocate their cost to expenses.
Automatically calculate and record fixed-asset depreciation by capital source, calculating monthly or annual depreciation.
Calculate the allocation and recording of tools/equipment value to expenses across different periods.
Conduct asset inventory.
Connects with the general accounting and cash accounting modules.
Access reports: asset cards, detailed asset ledgers, asset increase/decrease reports, asset depreciation schedules, asset increase/decrease status reports, etc.