Financial and Management Information Systems (FMIS) is highlighting how its fixed asset management software helps multi-entity organisations maintain accurate records, streamline reporting, and support compliance across multiple subsidiaries and locations. FMIS has provided multi-company and multi-book fixed asset functionality for many years, supporting clients that operate across different regions, business units, or brands.
As organisations expand, the need for fixed asset management becomes greater – and more complex. What began as one company has transformed into an organisation with multiple companies spanning numerous locations. Each company can have different reporting rules regarding fixed assets, which is where FMIS comes in with fixed asset management software.
A Modular Approach To Fixed Asset & Operational Requirements
FMIS offers a range of fixed asset management solutions with one clear goal: to provide a modular approach to fixed asset and operational requirements. This begins with a simple fixed asset register and expands to include a full asset management and tracking system. What differentiates this software from similar solutions is its modular approach.
In essence, multi-entity organisations can tailor the software to their unique needs. Clients can take the software and pick and choose which of the following elements they require:
- Fixed Assets: This deals with fixed asset accounting and depreciation to ensure compliance with the relevant accounting standards.
- Asset Tracking: Technology allows organisations to track the location, status and history of all assets, including those across different sites or companies.
- Equipment Maintenance: Allows users to schedule and record all preventative and reactive maintenance, including the ability to set reminders.
- Lease Accounting: IFRS 16-compliant lease accounting software, with support for finance and operating lease classifications where applicable.
- Barcoding and RFID: Allows for better tracking and data collection by integrating barcode technology and RFID solutions where required.
Designed Specifically For Multi-Entity Organisations
Most importantly, the software is designed for organisations with multiple entities operating in different locations – possibly even around the world. The software is therefore created to comply with the latest accounting and finance standards across the globe, including both GAAP and IFRS.
It’s a proven system designed to streamline fixed asset management across complex organisations – and FMIS promises to offer training for all clients. This is optional, though it allows businesses to ensure their teams use the system effectively and maximise its value. For more information, visit the FMIS website here: www.fmis.co.uk.
About FMIS
Financial and Management Information Systems Ltd (FMIS) specialises in enterprise asset management and order processing software. It designs solutions for use in any country or industry, regardless of the organisation’s size. Most hardware platforms and databases work with the company’s solutions – and FMIS has been trusted by public and private sector organisations in 40 countries worldwide.