This white paper introduces best practices for integrating fixed assets management technology into your organization as part of a strategic asset management initiative. These best practices are based on lessons learned over the course of decades of successfully implementing and integrating GAAP and tax depreciation and fixed assets management solutions in both SMBs and Fortune 500 companies.
Companies today are looking for ways to gain more control and accuracy when it comes to fixed asset data. Fixed assets represent a significant sum on the balance sheets of many organizations. Incomplete and out-of-date information can have a major financial and compliance impact. Poor management of asset data can result in higher property taxes, income tax overpayments, and unnecessary insurance costs, while lack of controls and data validation can impact compliance with regulations such as Sarbanes-Oxley.
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