Asset Management has grown in importance and attention during the last years. And not without reason. Many fixed assets are used throughout the company, and alltogether they represent significant value. Not only expressed in money, but also because these assets support critical business processes. Reliability and cost-control are important drivers to manage fixed assets. And of course, fraud or abuse of company assets need to be prevented.
Investments in Fixed Assets are depreciated during the economic lifetime of that asset. And some time, the asset will be disposed, for example because of replacement by a new (and more advanced) type, or because it has broken and need to be renewed. This process typically is supported by forms, to be filled by employees, registered and approved and finally processed by the financial department. A labor-intensive and time-consuming process, with little possibilities for tracking and status control.
Whenever an asset is to be disposed, regardless the location, the employee can initiate this disposal procedure by simply filling out the disposal web-based form in EZ-Workflow. A standard browser is the only requirement. In the form, the employee can indicate whether the asset will be sold, destroyed, donated or transferred. Once the initiation is done, EZ-Workflow knows (based on dynamic rules and conditions) which people should be included in the routing. It might be a manager of the department, or a divisional manager (if the asset is not yet fully depreciated). The accounting department always will be in the loop, as the asset need to be taken from the balance sheet and a loss or gain is realized.
Whoever will be involved in this disposal process, all of them are fully informed about the status of asset-disposals. Online and real-time, EZ-Workflow allows authorized access to the disposals work-in-progress.