Fixed Assets Inventory Software – What You Should Know?

Fixed Assets Inventory Software – Why Is It Worth Using?

Conducting a fixed assets inventory in a company is one of the key tasks that allows gaining knowledge about the assets owned. Without automation in the area of inventory management, this process is very extensive, prone to errors, and above all, very time-consuming. Recently, many companies have decided to adopt inventory software to automate physical stocktaking and its reconciliation, as well as to eliminate mistakes. Chief accountants, who are most often responsible for conducting inventories in companies, are ready to abandon old habits and streamline their tasks. They choose to give up manually (paper-based) filled stocktaking sheets, replacing pen and paper with computer inventory software. It is worth mentioning that even a relatively simple inventory program can bring measurable benefits to activities in this area.

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Good Fixed Assets Inventory Software – Which One to Choose?

Nowadays, there are more and more asset inventory solutions on the market, and finding the right system is quite a challenge. To do it properly, you need to be prepared to send numerous inquiries to IT companies, conduct many discussions and meetings, and sometimes even make reference visits. It’s worth investing in professional fixed assets inventory software. What features and functionalities should such inventory software have?

First of all, the program used for inventory should be based on the latest technologies and support barcode scanning (1D/2D) as well as RFID (Radio-Frequency Identification) labels. Marking assets with barcodes significantly helps to standardize knowledge, introduce order, and streamline the identification of fixed assets and equipment. It is worth noting that increasingly, companies are choosing RFID technology for inventory to speed up the entire process even more. This involves tagging fixed assets with special RFID tags, which allow simultaneous reading of many asset components. Using radio waves, the physical stocktaking happens instantly because reading does not require direct contact with the label.

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Secondly, the system should provide information about the assets almost instantly, and generating the physical inventory list should not take more than a few seconds. This is possible thanks to automatic identification and the integration of fixed assets inventory software with a mobile data reader.

Thirdly, the inventory software should offer the possibility of integration with other management systems such as ERP or financial-accounting (FK) systems. This functionality allows for seamless data exchange between systems through a dedicated interface, which can be either one-way or two-way.

Furthermore, attention should be paid to ensuring that the system is easy to use and intuitive so that every employee can quickly learn how to operate it in order to independently carry out the physical stocktaking. An important factor when choosing the right inventory system is whether the software provider guarantees maintenance and support. This is crucial for quick assistance in case of errors or help with independently performed tasks.

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Fixed Assets Inventory Software – How Much Does It Cost?

On the Internet, you can find a lot of information suggesting that there are free inventory software solutions. We will explore this topic further in the next part of this article, but for now, let’s focus on the issue of software pricing. So, the question is: how much does fixed assets inventory software cost?

In many cases, you pay for a lifetime software license, but some providers offer subscription-based models. The cost of a standard license typically ranges from approximately 1,000 to 5,000 PLN. As for subscription plans, the price depends on the functionalities and modules you need. Usually, the monthly fee for a single-user version does not exceed 300 PLN.

A professional system provider should not give a price without first consulting the client about their specific needs. Companies looking for such a solution often focus on the price and choose the cheapest options, only to later find out that the chosen provider has hidden additional costs, such as employee training or necessary programming work. To avoid this situation, it is important to clarify with the provider issues such as the system version—whether it will be a single-user license or a network version with a central database. Then, decisions need to be made about the number of required desktop/mobile licenses, necessary devices (e.g., thermal printers for label printing, data collectors—standard or RFID). It is also important to determine whether the opening balance will be prepared by the provider, how training and system implementation will be conducted, and whether additional programming work will be required. All these factors contribute to the price of a professional fixed assets inventory system, and it is essential to keep them in mind to avoid being surprised after choosing the so-called cheapest offer.

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Is a Free Fixed Assets Inventory Software Any Good?

Many of you wonder whether it is worth trying a free inventory software for physical stocktaking. This is especially true for small companies, which often do not have extensive budgets to spend on equipping employee workstations with appropriate software. Such companies are, to some extent, forced to seek and use free solutions first, which is why they often choose free fixed assets inventory software.

There are such solutions available on the market. However, most often, Excel is treated as a free inventory program. It is usually in Excel where asset listings are maintained, and these data are imported after switching to a professional program. Free inventory software allows users to perform certain tasks, but in many cases, it is only available for a limited number of days (in a so-called trial version) or lacks advanced functionalities that are only available after purchasing the paid version.

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Moreover, free fixed assets inventory software is a solution that does not generate as precise summaries and final reports after the inventory as professional tools do. For example, in educational institutions, all documents related to inventory must be properly maintained so that, in the event of an inspection, a ready, up-to-date report on the assets owned can be used. Free inventory software in schools will not be effective, among other reasons, due to the lack of adequate security measures. Cloud-based systems contain sensitive data, and the absence of proper security can result in data breaches.

An important issue to consider is that not every inventory software is compatible with mobile data readers. Therefore, it may turn out that the purchased devices will not be able to connect with such a system. By opting for professional software, you can be confident that the system will work with automatic identification hardware, whereas with free solutions, this certainty is lacking.

What Does Professional Fixed Assets Inventory Software Look Like?

Once you are aware of why it is worth investing in professional fixed assets inventory software and have learned about the features it should have, it is worth taking a closer look at such a solution.

A good program for inventorying equipment, such as office assets, should certainly be flexible. AMS OPTI is a solution of the Assets Management System class that adapts to the needs of any company or organization. It is designed for managing fixed assets, record-keeping, inventory, and asset reconciliation in a fast and very simple way. Importantly, the AMS OPTI system is based on advanced technologies and is continuously updated by a team of developers. Recently, we have made modifications that allow the physical stocktaking to be performed remotely. Below, we provide sample screenshots from the latest version of our system.

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