Fixed Asset management software is a system that will help businesses manage fixed assets. Asset management works by going through all the important stages in the fixed asset lifecycle from acquisition to disposal.
But the question is, has your software answered the various business needs precisely? Imagine if your company has to face difficulties in data recording, loss of valuable asset information, and errors in depreciation calculations. This can mess up financial and tax reports, and also hamper investment decisions.
In addition, managers often struggle to schedule and track asset maintenance, increasing breakdown risks and operational downtime. However, with the right fixed asset management solution, these issues can be easily overcome, ensuring efficiency and accuracy in asset management.
Implementing a software solution integrated with AI technology is a solution to manage your fixed assets accurately. Moreover, Singapore is among the leaders in adopting AI and automation globally. For instance, 35% of companies in Singapore use AI tools to enhance productivity, and 54% have implemented automation to streamline work processes
Therefore, this article will provide the 20 Best Fixed Asset Management Software in Singapore 2024 such as HashMicro, Asset Panda, MRI Software, and Sage, which can be your guide in choosing the right software.
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Key Takeaways
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What is Fixed Asset Management Software?
Fixed asset management is a process that involves tracking physical items such as computers, vehicles, or other assets in your business. This process works by monitoring financial accounting (asset value), preventive maintenance (maintenance costs), and potential theft.
The software also helps make smart choices in buying and retiring assets. Knowing the value of assets helps businesses plan for the future. This also ensures the company reduces inventory loss, equipment malfunctions, and downtime, thereby enhancing the overall value and lifespan of the assets.
Thus, using the right asset management system, allows companies to keep a detailed list of their assets, where they are located, and how they wear out over time.
Here are some of the benefits of using fixed asset management software in your Singapore business:
- Accurate asset tracking: With effective asset management, businesses can ensure that assets are utilized efficiently. This reduces downtime and increases overall productivity by optimizing how assets are used.
- Maintenance cost savings: Regular maintenance and timely inspections help save money by keeping assets in good condition, preventing costly repairs.
- Asset life extension: Proper care of assets extends their lifespan, helping companies avoid significant repair expenses.
- Regulatory compliance: Effective asset management minimizes risks during financial audits by maintaining accurate and comprehensive records. It also assists your accounting team with critical information needed for regulatory compliance.
- Effective maintenance scheduling: Properly scheduling maintenance activities helps extend the life of assets and prevents unexpected downtimes, ensuring smooth operations.
- Depreciation management: Accurate management of asset depreciation provides precise financial data, which is crucial for optimizing tax benefits and overall financial planning.
- Simplified accounting: Asset management software helps track the value and cost of assets throughout their lifecycle, making asset accounting more straightforward.
- Increased accountability: Features such as check-in/check-out increase accountability by ensuring that assets are properly used and returned.
- Location tracking features: Location tracking features increase workplace productivity and reduce the chances of assets being lost or stolen without notice with an efficient tracking system.
Top 15 Fixed Asset Management Software for Singapore Companies
Efficient asset management is essential for Singapore companies aiming to streamline operations and maintain accurate financial records. Fixed asset management software helps in tracking assets, budgeting, forecasting, and ensuring compliance.
To aid businesses in selecting the best tools, we present the top 15 fixed asset management software options tailored for Singapore companies.
1. Fixed Asset Management Software HashMicro
HashMicro is a leading ERP software solution provider in Southeast Asia, which offers cloud-based tools to streamline end-to-end business operations in an all-in-one system. HashMicro’s software is known for its strong integration capabilities and flexibility in customizing according to business needs, making it an excellent choice across various industries.
This vendor also provides a free trial system and consultation with a team of professionals, allowing you to discover how this most used fixed asset management solution can enhance your company’s asset management efficiently.
This fixed asset management software is designed to improve the efficiency of asset management in the company. By using this software, companies can reduce the risk of asset misplacement, ensure accurate depreciation calculations, and streamline maintenance scheduling.
HashMicro provides comprehensive fixed asset management solutions to improve operational efficiency and asset utilization. In addition to fixed asset management, HashMicro also offers various end-to-end solutions for business, such as procurement management systems, accounting systems, and CRM sales, for more than 25 industries.
Fixed asset management software from HashMicro has several excellent features as follows:
- Asset Comprehensive Cost Reporting: Using this feature, detailed cost reports are provided, aiding in future asset maintenance budgeting and planning.
- Asset Maintenance Budget: This feature ensures adherence to set budgets, optimizes resource allocation, prevents unexpected costs, and extends asset lifespan.
- Preventive Maintenance Scheduling: This software also helps facilitate easy scheduling of asset maintenance to prevent unexpected operational disruptions, ensuring optimal functionality and prolonged asset life.
- Asset Stock Take with Barcode: By using this feature, asset status (e.g., breakdown, operative, missing, found) can be reported into the system using barcodes for accurate tracking.
- Asset GPS Tracking: This feature accurately tracks asset locations in real-time using GPS, enhancing the visibility of company assets’ whereabouts.
- Parent & Child Asset Management: Using this feature, detailed information on each asset is provided individually or within a larger hierarchical context for efficient monitoring, usage, and status tracking.
- QR Code Scanning for Facilities Request: This software helps simplify the process for employees to report issues and speeds up repair processes using QR codes.
- Repair Order Management – Integrated with Inventory Management: This feature manages repair orders integrated with inventory management, streamlining the repair process for increased efficiency.
- Fully Integrated with Accounting to Track Depreciation: By using this feature, the software fully integrates with accounting systems to track asset depreciation, ensuring financial reporting accuracy.
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For more information about HashMicro’s software fixed asset management, you can start calculating the software price by clicking the banner below.
2. Asset Panda
Asset Panda is a cloud-based asset management platform that offers flexibility and ease of use. It provides asset tracking, auditing, and maintenance through mobile applications, enabling companies to better manage their assets.
Asset Panda’s fixed asset lifecycle management has the following features:
- Asset Register
- Asset TrackingRelationships
- Asset TrackingCosts
- Asset Tracking
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3. MRI Software
MRI Software provides asset management solutions that assist companies in optimizing the use of their assets. MRI offers various modules that can be customized to suit the specific needs of the business. By using MRI Software, companies can facilitate asset lifecycle management and integration with accounting systems.
MRI Software’s fixed asset lifecycle management has comprehensive features such as the following:
- Asset Lifecycle Management
- Asset Tracking
- Audit Management
- Budgeting/Forecasting
- Capitalization Reporting
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4. Sage Fixed Assets Management Software
Sage Fixed Assets Management Software offers an asset management solution designed to make it easier for companies to manage and track their fixed assets. It automates depreciation calculations and asset tracking, allowing companies to manage their assets more efficiently and accurately.
The following are some of the features of Sage fixed asset inventory management software:
- Barcoding/RFID
- Billing & Invoicing
- Check-in/Check-out
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5. Software Fixed Asset Management Fiix
Fiix is a cloud-based maintenance management solution that helps companies manage their assets and maintenance activities more efficiently. Fiix provides preventive and predictive maintenance and inventory tracking, ensuring that all assets are in optimal condition and ready for use.
Below are the features of Fiix fixed asset management software:
- Work Order Management
- Preventative Maintenance
- Predictive Maintenance
- Materials Management
- Equipment Breakdown Reports
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6. SafetyCulture Fixed Asset Management Software
SafetyCulture offers an asset management platform that can help companies ensure that their assets are always in the best condition. With SafetyCulture, companies can conduct asset inspections and audits to ensure compliance with applicable safety standards.
SafetyCulture’s fixed asset inventory management has the following features:
- Track Assets Individually
- Scan QR Codes
- Schedule Maintenance
- Alerts and Notifications
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7. NewgenONE Fixed Asset Lifecycle Management
NewgenONE offers asset management solutions that incorporate advanced technologies to help companies manage their assets efficiently and transparently. The solution provides real-time asset tracking and asset lifecycle management, assisting companies in optimizing the use of their assets.
The following are some of the features of NeogenONE’s fixed asset lifecycle management:
- Integrations Management
- Drag and drop Builder
- Application Templates
- Access Control
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8. Fixed Asset Inventory Management Software MaintainX
MaintainX is a mobile application designed to ease asset maintenance and operations management. The solution facilitates preventive and reactive maintenance through a mobile application, allowing managers to manage maintenance more efficiently.
MaintainX fixed asset management solution has the following features:
- Work Order Management
- Preventative Maintenance
- Vendor Management
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9. ManageEngine AssetExplorer
ManageEngine AssetExplorer is an IT asset management solution that helps companies effectively manage and track their IT assets. With AssetExplorer, companies can track IT assets in real-time and manage the lifecycle of IT assets, ensuring all IT assets are functioning properly.
Fixed asset management software from ManageEngine AssetExplorer has the following features:
- Asset cost tracking
- Usage tracking
- Asset inventory management
- Usage compliance tracking
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10. Fixed Asset Management Software IBM Maximo
IBM Maximo is an enterprise asset management solution that offers advanced features for managing physical assets, including maintenance, operations, and asset tracking. Maximo provides asset lifecycle management and integration with IoT devices, assisting enterprises in optimising their operational efficiency.
Below are some of the features of the IBM Maximo’s fixed asset management software:
- Asset Management
- Maintenance Management
- Predictive Maintenance
- Inventory Management
- Remote Monitoring
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11. EZOfficeInventory
EZOfficeInventory is an asset management solution that helps companies track and manage their assets easily and efficiently. It provides real-time asset tracking and integration with barcode and RFID devices, ensuring all assets are accurately recorded.
Fixed asset inventory management software by EZOfficeInventory provides features that can streamline asset management as follows:
- Centralized Inventory Database
- Low Stock Notifications
- Data Exporting / Importing
- Location – Asset Tracking
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12. Oracle NetSuite
Oracle NetSuite offers asset management solutions that integrate with their ERP platform, helping companies manage assets more efficiently and effectively. With NetSuite, companies can provide real-time asset tracking and integration with other ERP modules, improving overall business performance.
Fixed asset lifecycle management by Oracle NetSuite has the following features:
- Asset Tracking
- Depreciation
- Lease Accounting
- Reporting
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13. Infor EAM Fixed Asset Inventory Management Software
Infor EAM is an asset management solution designed to help companies optimize the use of their assets and improve operational efficiency. Infor EAM provides asset lifecycle management and integration with IoT devices, ensuring all assets operate at optimal levels.
Below are some of the features of fixed asset inventory management from Infor EAM:
- Vendor Demonstration Management
- Programs for consultants
- RFP/RFQ Services
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14. MMSOFT Pulsway
MMSOFT Pulsway is an IT asset management solution that enables companies to track and manage their IT assets efficiently. With Pulsway, companies can track IT assets in real-time and integration with helpdesk systems, ensuring all IT asset issues can be identified and resolved quickly.
Fixed asset inventory management from MMSOFT Pulsway has the following features:
- Remote Monitoring
- Asset Tracking
- Multi-Server Management
- Immediate Alert Notification
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15. Infraon Assets
Infraon Assets offers an asset management solution that helps companies track, manage and optimize their assets. The solution provides real-time asset tracking and asset performance analytics, helping companies make data-driven decisions.
The following are some of the features of the fixed asset management software from Infraon Assets:
- Central Dashboard
- Asset Policy Management
- Software Asset Inventory
- Asset Discovery
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16. GoCodes fixed asset inventory management
GoCodes is a cloud-based asset management solution that utilizes QR code technology to track and manage assets. With GoCodes, companies can easily track assets using QR codes and mobile apps, ensuring all assets are recorded accurately and efficiently.
Fixed asset inventory management from GoCodes has several excellent features such as:
- Alerts/Notifications
- Mobile Access
- Barcode/Ticket Scanning
- Manufacturing Inventory Management
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17. Fixed Asset Management Software Ivanti
Ivanti provides IT asset management solutions that help companies track and manage their IT assets efficiently. Ivanti provides IT asset tracking and asset lifecycle management, ensuring all IT assets are well-managed and functioning optimally.
Below are some of the features of Ivanti’s fixed asset management software:
- IT asset management
- Asset management
- Reporting and analytics
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18. Limble Fixed Asset Management
Limble Software Fixed Asset Management is designed to streamline the management of a company’s physical assets by providing tools for tracking, maintenance, and reporting. This software enables users to monitor asset location, condition, and lifecycle stages, from acquisition to disposal.
Fixed Asset Inventory Management Software from Limble provides several features such as the following:
- Asset Tracking
- Automated Maintenance Schedules
- Comprehensive Reporting
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19. UpKeep Fixed Asset Inventory Management Software
UpKeep is a mobile-based maintenance management solution that helps companies manage their assets and maintenance activities more efficiently. UpKeep facilitates preventive and reactive maintenance and job tracking, ensuring all assets are in optimal condition.
Below are some of the features of UpKeep fixed asset inventory management software:
- Maintenance management
- Work order management
- Asset tracking
- Reporting
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20. Fixed Asset Management Software Fracttal
Fracttal is a cloud-based asset management solution designed to make it easier for companies to manage and track their assets. Fracttal provides real-time asset tracking and asset performance analytics, helping companies optimize the use of their assets.
Fracttal’s fixed asset management software has features such as:
- CMMS
- Asset management
- Mobile app
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Basic Features to Expect in Fixed Assets Software
When choosing fixed asset management software, it is very important to understand the basic features that will drive efficiency and accuracy in managing your assets. These basic features form the backbone of a robust asset management system, ensuring that your assets are tracked, maintained, and utilised effectively.
By utilising these core functions, businesses can streamline operations, increase accountability, and make informed financial decisions. Let’s learn about the essential features you should expect in any fixed-asset software.
Here’s a quick table that shows what features you’ll find in fixed asset software and what they do:
| Basic Features | Benefit |
| Asset management | Ensures efficient utilization and tracking of assets |
| Location tracking | Enhances productivity by quickly locating assets |
| Check-in/check-out | Increases accountability for asset usage |
| Asset’s complete maintenance log | Keeps detailed records of all maintenance activities |
| Depreciation methods | Provides accurate financial data for asset depreciation |
| Standard reports | Delivers essential insights and summaries |
| Purchase order management | Streamlines the procurement process |
| Work orders | Manages and tracks maintenance tasks efficiently |
| Barcodes and RFID tracking | Simplifies asset identification and tracking |
| Complete audit trail | Maintains comprehensive records of all asset transactions |
| Contracts management | Manages asset-related contracts effectively |
| Management of asset disposals | Oversees the disposal process of assets |
In short, the main features of fixed asset software like tracking, managing depreciation, and keeping up with maintenance are crucial. They help businesses in Singapore manage their assets well. These tools make sure they follow the rules and improve how their assets work.
Who is Fixed Asset Management Software For?
As businesses grow and their asset portfolios expand, the need for efficient management becomes increasingly important. The software offers significant benefits across a wide range of industries, from healthcare and construction to retail and manufacturing.
Here are some types of businesses or industries that find fixed asset management software indispensable:
- Manufacturing companies: To track and maintain machinery, equipment, and tools, ensuring minimal downtime and maximum productivity.
- Healthcare facilities: For managing medical equipment, ensuring compliance with regulations, and scheduling regular maintenance.
- Educational institutions: To manage and track assets such as computers, lab equipment, and furniture across multiple campuses.
- Government agencies: For maintaining and overseeing public assets, including vehicles, infrastructure, and office equipment.
- Retail businesses: To track inventory, store fixtures, and equipment across various locations, enhancing operational efficiency.
- Construction firms: For managing heavy machinery, tools, and vehicles, ensuring timely maintenance and optimal utilization.
- Hospitality industry: To keep track of assets like kitchen equipment, furniture, and technology systems in hotels and restaurants.
However, asset management is not only limited to those industries. Even small companies with few assets can still manage to track manually using Microsoft Excel or Google Sheets. However, they will eventually need a more robust solution as they grow.
As teams grow and the volume of their assets increases, they often find that the manual work of tracking and managing these assets becomes inefficient, requiring a specialised technology solution.
Conclusion
Fixed asset management software plays an important role in today’s fast-paced business environment. The software helps companies in Singapore better manage their assets, comply with regulations, and improve operational efficiency.
By implementing sophisticated software solutions, businesses can protect their investments and streamline operations, leading to significant cost savings and impressive return on investment (ROI).
One of the leading solutions in this area is HashMicro’s Fixed Asset Management Software, which helps companies in Singapore improve their asset management efficiency. By utilising HashMicro’s advanced technology, your company can become more efficient and productive, ensuring continued growth and success.
Schedule a free product tour with HashMicro’s team of professionals right away, and learn that HashMicro’s asset management solutions are the right choice for your Singapore business.
FAQ about Fixed Asset Management Software
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What are the 3 types of fixed assets?
Fixed assets, commonly known as property, plant, and equipment (PPE), are vital components of a business’s infrastructure. For instance, a company that manufactures frozen cookie dough may count a corporate office (property), a cookie dough production facility (plant), and the machinery used to produce the dough (equipment) among its fixed assets.
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What is the difference between fixed assets and asset management?
For instance, tracking fixed assets provides information on the location, quantity, and condition of a company’s physical property. Asset management then builds on this data by conducting analyses, making predictions, and evaluating the assets for financial accounting purposes.
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How to calculate fixed assets?
Net Fixed Assets Formula= (Total Fixed Asset Purchase Price + capital improvements) – (Accumulated Depreciation + Fixed Asset Liabilities)
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What is the objective of fixed asset management?
The primary goals of fixed asset management include monitoring fixed assets and maintaining accurate records for financial accounting, which is crucial for updating balance sheets. This practice is essential for budgeting, forecasting, and calculating asset depreciation.
