April 6, 2021
Fixed Asset Solutions Help Churches Keep Costs in Check
Fixed asset solutions should be an integral component of church operations. Churches strive to keep their costs under control, and how well they maintain their fixed assets will determine their success. Regardless of whether a church is large or small, it has fixed assets to track and manage, including office equipment and supplies, sound equipment, IT assets, furniture, and more. The ability to know where your assets should be, what kind of condition they’re in, their current value, and other information delivers benefits including:
- Reduced loss and theft
- Ability to manage policies for leased equipment
- Accurate data for accounting purposes
- Eliminating duplicate purchases and waste
- Maximized lifespan of fixed assets
- No more wasted time to hunt down assets
- No more missed maintenance and/or updates
- Warranty information at your fingertips
- Improved accountability to donors, board members, and more
- Reduction in insurance costs
- The ability to create equipment refresh schedules and plan budgets accurately
And that’s just the beginning. Fixed asset solutions enable churches to conduct audits and know exactly what fixed assets they own, as well as the condition of those items. That information, in turn, allows them to know where they stand financially – how many assets they have, and what those assets are worth. Accurate, up-to-date fixed asset data also helps churches ensure that they have enough insurance coverage for those items. Finally, knowing the fixed assets they have helps churches avoid missed maintenance and service, which can significantly shorten the lifespan of their equipment and force them to purchase costly replacements.
The Complete Lifecycle of Your Assets at Your Fingertips
Fixed asset solutions track the complete lifecycle of assets, from their initial acquisition and periodic maintenance to their retirement and replacement. All asset data is centralized in one easy-to-access location, so church administrative staff no longer have to spend their valuable time hunting down the whereabouts of items, their respective insurance policies and warranties, leased equipment policies, and other pertinent details.
Why Manual Asset Management Doesn't Work
Staff at churches – and in particular, the staff at smaller churches – might assume that manual asset tracking methods are sufficient. However, manually keying in barcode numbers is tedious and error-prone. It’s easy even for the most conscientious employee to make a typo, overlook an asset or otherwise lose track of an important detail. It’s also extremely difficult to keep track in real time of assets that frequently change hands – for example, laptop computers and audio/visual equipment. Like any other organization, churches need a reliable means of fixed asset tracking and management they can trust. Even small churches stand to benefit from the greater efficiencies that fixed asset solutions. Small churches are, in fact, predominant in the United States; a recent study found that 50 percent of churches have 100 members or fewer, and another 40 percent have between 100 and 350 members.
Quite simply, any organization will save time, money and frustration when it outsources the task of asset tracking and management to fixed asset solutions.
Asset Panda’s fixed asset solution is the world’s most powerful, yet intuitive platform. Our free mobile app lets churches track their fixed assets any way they want. Completely customizable and flexible, Asset Panda easily integrates with your current systems and can be configured to meet your specific needs. Because it syncs with the cloud, your data is always available from anywhere. All you need is a smartphone or tablet, and you have everything you need to get started.