A good asset management system relies heavily on accurate data and precise reporting. The best way to use this data is by providing valuable insights into asset utilization. Below you’ll find a few examples of asset management reports and how to best utilize them to keep your business efficient and organized.
If your organization has a lot of equipment that requires regular maintenance or calibration, these reports can be incredibly beneficial in helping you control your expenses and save money.
Get a full breakdown of which assets are being used the most, how each is performing, when maintenance is needed, and what the cost will be to maintain each. This data also helps as you make decisions about prospective budgeting for your future asset needs.
Auditing is crucial in verifying assets in your organization. Audit reports answer questions about where your assets are, any that are on lease, and any that need maintenance (see above).
Audit reports also give visibility into inadequate, ineffective, or underutilized assets.
Keep track of all of your workflows in order to ensure your assets are being used to their full capacity. Keep the activity of your assets organized and ensure they’re being used most effectively and efficiently.
When equipment is sent in for maintenance, do you have a way to measure how long it will take or what you’ll be doing in the interim? A workflow report can help.
At HCA, we’re here to help ensure you’re getting the most out of your reports. A few of the ways we do that:
- Accounting and asset management systems review
- GASB 34/35 capital asset consulting
- Comprehensive asset inventory development
- Barcode tagging and tracking
- Financial reporting
- F&A Federal Overhead Cost Reimbursement
Ready to see how? Contact us today to get started.