Hundreds of organizations worldwide struggle to implement the perfect ERP system that meets all their financial and management demands. This is crucial, especially concerning fixed assets management processes. Moreover, thousands of these ERP systems are available in the market. However, for many reasons, these systems applied are not enough in managing fixed assets. What is the shortage in the ERP system concerning fixed assets management? What does it lack to perfectly do this task? And how can Mojodat complete the assets lifecycle management in the ERP? Those are important points we are tackling in the following lines.
A Main Shortage in the ERP System with Fixed Assets:
In the ERP, when an asset is considered financially as one asset, it is not easy to manage the assets composed of several parts. Assets that can have more than one barcode, as well. In fact, this is a main Shortage in the ERP System fixed assets. It requires another high-tech fixed asset software, like Mojodat.
Mojodat Fixed Asset Management Software:
This fixed asset management software manages composed assets and link them with their related assets in the ERP financial register. This could be managed from the mobile applications as well to give more control to the user. Mojodat can complete the assets life cycle management in the ERP through the following functions:
Native Mobile Applications:
Is it possible to sync data with ERP automatically? Of course. By offering cutting-edge mobile and handled applications, Mojodat allows to do all the physical treatments online or offline with both the RFID technology and the regular barcode labels. Mojodat fixed asset management software provides various functions like: Assets receiving, new assets tagging, assets transferring, custodians changing, asset auditing and counting and barcode labels changing.
Smart RFID Tracking:
Mojodat offers tracking the movements of the assets using RFID gate sensors and reporting the movements’ history. It also sends an alarm of any unauthorized movement in real-time. These functions are added values that complete the assets life cycle management in the ERP system.
Receive the Assets from Procurements and WIP:
A gap between receiving assets in the inventory and its capitalization must be bridged. This is through a fully integrated application with the receiving function in the ERP. Mojodat is that bridge that can recognize the assets from the Delivery Note lines. It also reads the data of these assets data automatically. It handles these assets data in a staging area to generate corresponding assets cards. Moreover, it creates the related composition information (parent-child relationship) when required. After that, the user can have the assets records in Mojodat and perform all the tracking operations. Once the assets financial data is ready, Mojodat can push the up-to-date assets records to EBS Fixed Asset Financial Register. It uses Post Mass Addition function to achieve that.
Mojodat fixed asset tracking software provides a flexible workflow approval for the Transfers and for the Disposals. The approval workflow can be configured per a combination of the asset location and category.
With custody management function, Mojodat can integrate with the LDAP or any active directory. The user can manage the employees’ custodies.
Control Access to Data:
The function of controlling access to data is required. For distributed companies, granting access to all assets data and transactions to one person is not feasible. With Mojodat, however, the client can segregate access to the assets data per branch or department. Thus, users can generate reports and do transactions on the assets that are under their responsibility only.
Manage All Assets Types:
With Mojodat, managing and tracking Intangible Assets and Non-Counted assets by generating virtual tags is an added value. In addition to the Trackable Items (non-capitalized assets) and the Non-Owned assets using barcode tags.
Mojodat will provide in the next version an employee portal. Any employee can access the portal to request assets, then the requests will be run through a workflow approval. If accepted, it will trigger a transfer transaction or a purchase request.
In short, fixed assets management is a sophisticated process that the ERP can’t perfectly achieve alone. Successful fixed asset management requires another multi-functional system to complete the life cycle of the assets management. This is why Mojodat emerged.