Description

Fixed Asset Management refers to the systematic process of acquiring, tracking, maintaining, and disposing of a company's fixed assets. Fixed assets, also known as property, plant, and equipment (PP&E), include items such as buildings, land, machinery, vehicles, and other long-term assets that are used in the production or operation of a business. Effective management of fixed assets is crucial for organizations to optimize their resources, ensure regulatory compliance, and make informed financial decisions. Effective fixed asset management contributes to improved financial visibility, accurate budgeting, and efficient resource allocation, ultimately helping organizations achieve their long-term strategic objectives.