Oracle® Asset Tracking is a comprehensive asset lifecycle tracking application that provides tracking, visibility, and control of globally dispersed assets for capital-intensive companies, along with complete transaction auditing. Asset deployment transactions such as install, in-service, out of service, or asset moves can be completed efficiently. When a government has capital assets it must establish and maintain a tracking system for them. It may be maintained using either a computerized or manual system. The tracking system must adhere to the formal asset policies approved by the governing body. It must include: 1) Inventory list containing capital assets owned by the government. Capital Asset Inventory Tracker (CAIT) helps you track the condition, cost, serial number, budget, funding, manufacturer, model, movement history, and miscellaneous information for individual items. Locations can be tiered up to as many levels as needed such as. Tracking and Inventory System The Property Accounting Office is pleased to announce RFTrack, the new capital and noncapital asset tracking software using RFID asset tags. RFTrack is a web-based RFID tracking software platform that has been server-installed on-premise at the Data Center and integrates easily with PeopleSoft. New Capital and Noncapital Asset Tracking Software and RFID Asset Tags. The new capital and noncapital asset tracking software, RFTrack, using Radio Frequency Identification (RFID) tags will help automate your physical fixed asset inventories, locate missing equipment and track location movement.
Construction companies rely heavily on physical assets to run their field operations. As such, their ability to manage all their assets efficiently, accurately and on a real-time basis is vital. Furthermore, automating the material requisition and ordering process will help control material costs and optimize equipment spend. Rigorous asset management processes – enabled by the right tools – can make a material difference in the profitability of projects and the overall health of the business.
The Solution
With CMiC Asset Management, you can control material costs, accelerate the procurement process, optimize inventory management, generate accurate job costing and client billing, and boost operational performance. This is particularly important for self-performing contractors – divisions within a GC, heavy/civil contractors and specialty contractors.
Equipment P&L reporting helps firms make better renting, repairing and buying decisions, while accommodating flexible billing rates can help turn the yard into a profit center instead of just being a cost center. More importantly, CMiC’s Single Database Platform™ offers complete process integration, from purchase orders for acquisition of capital assets (e.g., equipment and inventory) and ordering consumable items for day-to-day operations, to enabling complete financial transparency, from purchasing to AP and GL management.
The Bottom Line
Your asset management process is a key part of your business and needs a robust software solution. CMiC Asset Management can help your construction firm manage assets more accurately, comply with safety standards, raise employee accountability and improve efficiency. CMiC enables companies to track, monitor and report the usage of their assets and the return on their portfolio.
Talk to one of our experts today to learn how you can optimize your construction asset portfolio.
| FEATURES | BENEFITS |
|---|---|
| Automate purchase orders and requisition management | Control material costs |
| Track compliance control | Shrink the procurement cycle |
| Automate General Ledger updating | Decrease unnecessary equipment maintenance costs |
| Take advantage of perpetual inventory maintenance | Maximize return on investment of capital assets by always keeping equipment operational |
| Receive proactive equipment maintenance alerts | Determine future material needs to reduce ordering costs |
| Manage depreciation | Automatically post fixed asset charges to the General Ledger |
| Track your fleet in real time | Make equipment available exactly when and where it’s needed |
| Accommodate flexible billing rates | Enable user defined invoicing: turn the yard into a profit center |
| Plan all resources | Proactively plan asset requirements for projects |
Asset Inventory Tracking
SCALE YOUR CONSTRUCTION BUSINESS WITH CMiC
Capital Assets Vs Non Capital Assets
Capital Asset Inventory Database
Your business has the potential to grow faster and for longer—but your teams need to keep up. Invest in the software to help them do just that. The CMiC platform is purpose-built for the construction industry, ensuring that your users, and the unique workflows that they manage, are not just supported, but also enhanced by the right capabilities. Speak with an expert to learn how CMiC can help you grow faster while boosting your profits.
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