Small businesses have a unique issue that accompanies them. By definition they are unlikely to have a large number of staff, with the Australian Securities and Investments Commission classifying a small business as having less than 50 staff members.
Staff work a little harder, financial decisions are more important and, crucially, your assets are vital to your success. Unfortunately, despite having a reduced number of employees, small businesses often may not have a system in place to monitor their day-to-day basics.
Having more locations and reaching more people is undeniably one of the goals for many businesses.
Keeping track of your business assets both large and small
A large company that has a few hundred staff will have processes to monitor every asset within the business, from valuables such as computers to minute aspects including paper clips.
While a smaller business may not feel the need to account for every individual component, the need for reliable software will grow rapidly as your company does.
The obvious advantage of implementing asset management software into your business is having a reliable and accessible database. People are working remotely more than ever, as our laptop and smartphone technology enables fast and on-the-go communication, and many of our businesses are following suit.
It’s not entirely uncommon for business to consist of small pop-up shops or stores, diversifying their customer base by expanding physical locations. Having more locations and reaching more people is undeniably one of the goals for many businesses, but ensuring an accurate inventory of your assets and their health is crucial to this.
As your business grows, you’ll no doubt have more to keep track off. By implementing a system during the growth of your business, there will be less risk of having to implement new processes later, but the real benefit is from ensuring accurate monitoring of your assets in the present.
Approachable software puts success in your hands
Advanced Business Manager software is presented as a core accounting system, with an optional asset management module to offer comprehensive tracking for your business.
Here you can monitor all the assets of your business, including their maintenance, the annual depreciation or leasing schedule. A simple user interface allows you to manage your asset inventory from a central screen, with purchases, disposals and more within a single box.
To learn more about our software, and to discover some of the other optional modules we can provide for your company, book a demo with Advanced Business Manager today.
