The importance of fixed asset management in SMEs

Management of fixed assets in SMEs

fixed asset management

Within a company there is a large amount of fixed assets that must be considered for day-to-day operations and that provide value to the company thanks to their proper functioning, the management of fixed assets in small and medium-sized companies (SMEs) is equally important, although it is often addressed in a more simplified manner due to the limited resources available.

Given this, for companies, it is important that asset management be carried out adequately, with the purpose that maintenance and monitoring of the assets can be provided. fixed assets that exist within the company. 

What is taken into account in the management of fixed assets?

  1. Inventory: Carry out an exhaustive inventory of all the fixed assets of the company, taking into account the identification and registration of all assets, including equipment, machinery, vehicles, furniture and any other tangible resource used in the operation of the business.
  2. Needs Assessment: Evaluate the needs of the company's fixed assets. Determining which assets are essential to the day-to-day running of the business and which may be expendable will help prioritize maintenance and asset replacement.
  3. regular maintenance: Implementing a preventive maintenance program to maximize the useful life of the assets involves carrying out periodic inspections, carrying out cleaning and lubrication tasks, and keeping a record of the maintenance activities carried out.
  4. Control of use: Establish policies and procedures to control the use of fixed assets, which may include assigning clear responsibilities to employees, establishing rules for the proper use of assets, and maintaining records of asset movements and locations.
  5. Upgrade and replacement: Periodically evaluate the need to update or replace fixed assets, considering factors such as wear and tear, technological obsolescence and changes in business needs. Perform a cost-benefit analysis to determine if replacing an asset will result in significant improvements to the business.
  6. Security: Implement security measures to protect fixed assets from theft, damage, or misuse, as this may include the use of physical security systems, such as surveillance cameras or alarms, as well as access control policies and adequate insurance to cover possible risks.
  7. Registration and documentation: Maintain accurate records and documentation of fixed assets, this includes information such as date of acquisition, cost, estimated useful life, maintenance details and any other relevant information, the use of an asset management system or specialized software may facilitate this task.

What applies as fixed asset management?

Fixed asset management is the set of processes by which a follow-up is provided to the machinery and equipment within a company with the purpose of keeping it in good condition and being able to provide it with maintenance in a timely manner and without its inactivity due to maintenance having a significant impact on the company's operations. 

What are the assets that can be managed?

It is important to know that both small and large companies have assets that must be managed, so that they remain in good condition and do not have to replace the equipment or machinery, which is why it is possible to manage the following asset: 

  • construction machinery 
  • Construction team 
  • Medical equipment 
  • dental equipment 
  • veterinary team
  • transport equipment 
  • Comunication team
  • Buildings 
  • Facilities 
  • Pipelines
SME fixed assets

Why is it important to manage assets?

Properly managing fixed assets is important since it provides the company with peace of mind knowing that the machinery and equipment they have is operating correctly thanks to the fact that maintenance is provided in a timely manner, in addition to providing a longer shelf life. 

Another important point that asset management offers is the job security, since when it is done properly all the machines work correctly and in this way the possibility of accidents at work is reduced. 

Management is also important to detect errors within machinery and equipment in a timely manner and correct them within preventive maintenance, without having to reach the corrective one, which is when a serious error already occurs. 

ANEPSA's role in asset management 

At ANEPSA we have a wide variety of expert appraisers specialized in various types of machinery and equipment, so we can provide the attention to our clients to carry out the inventory and control of fixed assets and also provide them with the necessary follow-up to manage the assets they have. 

We adapt to the needs of each company and provide personalized attention when managing, controlling or inventory of fixed assets, we can also make recommendations and valuation of any type of equipment and machinery. 

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