Plex Systems has announced the automated fixed asset tracking capabilities to the Plex Online integrated enterprise resource planning system, which is delivered as a software-as-a-service service that lets manufacturers track the life of office equipment, computer equipment, vehicles and machinery.
According to the company, the system gives an overview of a company’s fixed assets at every stage, and provides information for planning new investments.
For many manufacturers, tracking and calculating fixed asset depreciation schedules requires supporting and maintaining standalone accounting system or manual journal entries. Plex Online aggregates depreciation tracking for ease of monitoring on the balance sheet. Plex Online instantly moves fixed asset management data from accounting to the general ledger for consistency of information and reduced risk of errors caused by manual entry, said Plex Systems.
Said Symonds, CEO and president of Plex Systems, said: Manufacturers are under tremendous competitive and cost pressures. Now, Plex Online lets these companies see in an instant what costly assets are really worth to improve the processes of procuring, tracking and managing assets. Plus, they no longer need to support a separate asset system and benefit from improved decision making.