Transaction History in Assets Management System
Assets Management Systems provide organizations with large assets inventory a powerful management functionality to fully manage these assets. Its flexible structure, variety of modules, and special features allow many functional system configurations to effectively meet the requirements of asset owners for comprehensive management services. A comprehensive Assets Management System delivers to specific needs without any consideration of the company size, while ensuring operational excellence.
Your company needs to keep track of its assets. That way, you will know at all times which assets are available to be used gainfully in an optimum manner. The assets owned by any organization may be classified into two categories: fixed and current assets. Fixed assets are those assets that remain for a long term, while current assets are those which may be disposed or removed from the inventory for any reason within a short time period.
Benefits of Asset Management
There are many benefits of having a good assets management policy and plan:
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Improving acquisition and use
By keeping control of a company’s assets throughout its life cycle, you can improve your methods of acquiring and managing your assets. When implementing such a strategy, you may discover inefficient purchasing practices, incorrect disposal methods, and other issues related to different items which you may resolve by developing better processes.
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Improving compliance
Different regulatory agencies, non-profit organizations, and companies require reports on how your company acquires, retains, utilizes, and disposes of its assets. To ease the reporting process, a majority of them record their asset information in a central database. In such a way, when you need to generate a report, it is done easily.
Transactions Management
Managing transactions is a key feature of any assets management system. The ease and reliability of the transactions make or breaks the system. The user interface in which most transactions can be done from a single dashboard is most useful. For many reasons including audit compliance transaction history must be recorded securely, and it should be easily accessible whenever required.
Transaction History
The transaction history can be maintained for as long as the users want to save it. Since it is a cloud-based system there is no issue of storage space or any other kind of limitations on the number and size of transactions.
You can put any number of security levels so that you can control who can see the historical transactions. The transaction data can be classified as sensitive when the unauthorized disclosure, of that data, could risk to the owner of the data. Data should be classified as sensitive if the loss of confidentiality, integrity, or availability of the data could have a serious adverse effect on the owner’s privacy in business operations.
To manage information access in the business application, the system may implement privilege management. A payroll clerk’s access privilege might be to check salary transactions of the employees. But that very same staff member may not have the privilege to access the company’s other financial transactions. Privileges may be granted through controls such as positions, roles, and access lists. On the other hand, some owners may elect to allow the transaction access without any restrictions if it does not compromise their business model.
Anytime Assets provide a cloud-based assets management system that understands the demands of today’s fast-paced world and puts all your asset information right at your fingertips. You can easily perform any type of transaction easily and securely even from your mobile device. Please contact Anytime Assets for complete details.