Fixed asset management refers to the process of tracking and managing an organization’s physical assets, such as buildings, equipment, and vehicles. This includes the acquisition, maintenance, depreciation, and disposal of these assets. Effective fixed asset management ensures that an organization’s assets are being utilized efficiently and effectively, and that they are being properly maintained to maximize their lifespan and value. It also helps organizations to comply with regulatory requirements and to accurately report their financial statements. By implementing a comprehensive fixed asset management system, organizations can improve their operational efficiency, reduce costs, and make more informed decisions about their asset investments.
