We offer answers to some frequently asked questions about Smart Assets™ and its
features. Should you have further questions , please contact
us.
|
Q. |
How
is Asset Management different from Asset Tracking? |
|
|
Ans. Asset management is a high-level process
that integrates people, processes, and technologies to
maximize end-user productivity, contain costs, and maintain
compliance. A successful asset management program is one that
delivers detailed reports, helps you maintain existing assets
and budget new assets, is a decision-making tool that can have
an enormous impact on your company in terms of time and money.
For better asset management , however, you need an asset
tracking solution. Only when you have information about all
your assets, can you have a meaningful plan for managing those
assets in other ways. Asset tracking includes bar coding
assets, physical collection of asset data and
control.
|
Q. |
What
are the benefits of Asset Management? |
|
|
|
Ans. Successful asset tracking results in more
accurate budgeting, better control of assets, and effective
life-cycle management of assets. Asset tracking is an
important part of overall asset management.
Here are some
just of the benefits of implementing an asset management
program:
|
 |
Accountability by
users |
|
 |
Improve ROI , saving money
by not purchasing or maintaining unnecessary
assets. |
|
 |
Re-deploy unused assets |
|
 |
Improved vendor
management |
|
 |
Timely renewal of
insurance and service contacts. |
|
 |
Gaining access to accurate
information relating to your assets saves time and
increases an organizations ability to make logical
decisions regarding your investments. |
|
 |
Asset lifecycle management
- realize costs and time associated with the management
of assets. Creating efficiencies and reducing TCO
becomes possible only when an accurate asset roadmap is
defined. |
|
Q. |
Why
should we outsource this Assets Tracking? |
|
|
|
Ans. Asset management is a complex exercise ,
simply because it incorporates such widely varying functions
and employee . What appears simple on the surface, must
address several specific and detailed issues to be
successful.
|
Q. |
How
do we maintain our asset data on an ongoing basis? |
|
|
|
Ans. Our training team will instruct you to
maintain and use the Smart Assets™ software. Our professionals
are always on hand to assist you, whenever you require
them.
|
Q. |
How
do I sell the idea of asset management to upper |
|
|
|
Ans. The best way to sell asset management to
upper management is to perform a return on investment (ROI)
analysis. This analysis should include industry standard data
provided by a company like the Gartner Group, the estimated
costs of your asset management system, and your expected
benefits from this system (Gartner Group's assessment that the
cost of ownership can be reduced by 37.5% or more through
active enterprise asset management is a fairly powerful opener
to any presentation).
|
Q. |
How
long does an audit usually take? |
|
|
|
Ans. There are a variety of factors that
influence the amount of time that an inventory will take.
Major factors include the number of assets to be audited,
types of assets and locations of the company. We address all
of the factors during project planning and work with you to
develop a schedule that will meet your needs. Our focus is to
accurately collect the data in a timely manner with a minimum
impact on your operation and end-users.
|
Q. |
Can
I maintain any number of companies , branches,locations,
users? |
|
|
|
Ans. Yes.
|
Q. |
How
many roles should be created? |
|
|
|
Ans. That depends on the number of the roles in
the organization. There is no limitation on the number of the
roles to be created.
|
Q. |
Can
user set the role rights? |
|
|
|
Ans. Only admin users can set the role rights.
|
Q. |
Can
I take print out of remainders? |
|
|
|
Ans. Yes, you can.
|
Q. |
Can
I create as many currencies as I want? |
|
|
|
Ans. Yes you can.
|
Q. |
Does
the users have to be linked to the branch? Can the user be
given restricted branch access? |
|
|
|
Ans. Yes, it is possible.
|
Q. |
Is
asset code editable/ or can the asset code be modified? |
|
|
|
Ans. No, once asset created is created, it
cannot be modified.
|
Q. |
Can
assets Tag be modified? |
|
|
|
Ans. Yes, you can modify the asset
tag.
|
Q. |
Can
you use any type of characters in the asset code? |
|
|
|
Ans. You cannot use special characters;
otherwise you can use alpha numeric and the slash as a
separator.
|
Q. |
Can
Smart Assets™ automatically convert any foreign currency into
local currency? |
|
|
|
Ans. No, if the currency conversion is required
it can be provided at an extra cost.
|
Q. |
What
are the blank fields for in the Assets Other Tab? |
|
|
|
Ans. Those fields are for you to store any
additional information if required.
|
Q. |
Do
you consider sub assets also for depreciation? |
|
|
|
Ans. No. Sub assets are only for tracking and
not for depreciation.
|
Q. |
Can
you transfer any asset to any other
branch/location/department? |
|
|
|
Ans. Yes, the asset can be transferred from any
branch/location to any branch / location / department. However
inter-departmental transfer is not possible. Inter company
transfers is also not possible.
|
Q. |
Can
all assets be disposed straightaway? |
|
|
|
Ans. No only scrapped assets can be disposed.
You need to scrap the assets before disposing.
|
Q. |
Can
you scrap assets sent outward for service? |
|
|
|
Ans. No, The assets need to be brought inward
before scrapping.
|
Q. |
Can
you scrap/Dispose/transfer the linked assets? |
|
|
|
Ans. No it is not possible to scrap/transfer
the linked assets. You need to unlink the assets before doing
the necessary action.
|
Q. |
Can
I pre close a service or an insurance contract? |
|
|
|
Ans. Yes.
|
Q. |
Can
I open a service contract for more than 1 year? |
|
|
|
Ans. Yes.
|
Q. |
Can
I extend the service contract after I approve the
document? |
|
|
|
Ans. No after the document is approved the
extension of the service contract cannot be
done.
|
Q. |
How
do you take care of depreciation? |
|
|
|
Ans. We have provided depreciation procedures
for both Company's Act and Income Tax Act. We have also
incorporated the international standard of GAAP depreciation
into Smart Assets™. We have also taken care of other
governmental regulations on depreciation for Act 53 and
Modvat.
|
Q. |
Can
I revalue the assets at any point of time? |
|
|
|
Ans. Yes you can, provided the depreciation
period is not calculated or closed. If the depreciation is
calculated or closed then the revaluation can be done only on
subsequent periods.
|
Q. |
Can
I reopen a financial year after I close the year? |
|
|
|
Ans. No. it is not possible.
|
Q. |
How
many reports have you provided in your software? |
|
|
|
Ans. We have 63 reports comprising of 13
Depreciation related reports, 8 Fixed Assets Reports, 14
Transaction related reports, 24 Asset & other Listings and
4 Graphs.
|
Q. |
Have
you complied with the statutory requirements of the
software? |
|
|
|
Ans. Yes, the fixed assets register,
depreciations schedules and the fixed assets ledger are as per
the statutory requirements.
|
Q. |
What
if I want more reports? |
|
|
|
Ans. Yes it can be provided at an extra
cost.
|
Q. |
Can
I take a report on the query? |
|
|
|
Ans. Yes, the query can also be saved for
future requirements.
|
Q. |
Can
I print View assets screen? |
|
|
|
Ans. No. This screen is for viewing
only.
|
Q. |
Can
you interface your Smart Assets™ with my accounts software? |
|
|
|
Ans. Yes, that can be done at an extra
cost.
|
|
|
|
|