Choosing asset management software - 10 steps guide

Fixed asset management software guide

fixed asset management software guide- 10 steps guide

Fixed asset management software guide

10 steps to follow and 10 questions you need to ask

10 Steps Fixed Asset Management Software Guidefixed asset management software guide software - Download guide
Choosing the right fixed asset management and tracking software for your business can be a complicated process, so we have put together the 10 Steps Asset Management Software Guide to help guide you it. The number of different solutions and providers can make finding the right option pretty difficult if you are not sure what you need. Over 25 years’ experience in providing a range of leading asset management software and solutions have highlighted the importance of asking the right questions before you start. Now we have condensed all these into one comprehensive guide. We’ll cover the 10 simple steps to take and the 10 tough questions you need to ask when choosing asset management software.

10 simple steps

Changing any system can be daunting, particularly when it needs to be closely integrated with other existing systems. Our experience is that breaking down the process into a number of steps makes the transition manageable, far more likely to go smoothly and easier to schedule. These 10 steps will help ensure that you have considered not only the immediate issues, but that your ultimate asset management system meets the long term needs of your business.

  • Step 1 Understand the need
  • Step 2 Pick a partner not a product
  • Step 3 Map the asset life cycle
  • Step 4 Decide how to code your assets
  • Step 5 Select an asset management system
  • Step 6 Integrate related systems
  • Step 7 Decide how best to use barcoding
  • Step 8 Audit and reconcile
  • Step 9 Implement with care and assistance
  • Step 10 Maintain, maintain, maintain!
10 Tough questions

A good salesman can make almost any product look like a great option in a quick one off demo, but making the right long term decision when choosing asset management software means asking the tough questions that aren’t always answered in the brochure. If the product is really up to the task, the provider won’t mind going through these 10 tough questions:

  • Q1 How easy is it to use and how easy is it to maintain?
  • Q2 Are all depreciation methods supported – for every country, legal entity and requirement?
  • Q3 Is the system multi-company, multi-currency and multi-book?
  • Q4 Can the system be tuned to reflect my own specific requirements?
  • Q5 Are reporting and enquiry facilities comprehensive, flexible and easy to use?
  • Q6 Can the system handle real-life mistakes and problems?
  • Q7 Will it work with my existing systems and be accessible from any location?
  • Q8 Does the system cover each and every aspect of asset management?
  • Q9 Can the system be used for budgeting and forecasting?
  • Q10 How exactly does month end work?

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For more information on asset management software or FMIS’ range of products, please see our product pages or contact one of the team directly at or on +44 (0) 1227 773003.


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Fixed Asset management software V11 update

Fixed Assets v11 release

Fixed Assets v11 release

FMIS Fixed Assets v11 release

The latest version of FMIS Fixed Assets software, v11, has now released. It brings with it significant improvements in many areas, especially for high volume users and those who want to see even more detailed reconciliation reports on their fixed assets at year end.

Many of our clients have already upgraded to the latest version free of charge, but if you are still running an older version, upgrading is normally quick and easy and most importantly free. For more information, or to request an upgrade to FMIS Fixed Assets v11, simply contact us using the form below or via the support page.

Not yet using FMIS Fixed Assets?

If you don’t currently use FMIS Fixed Assets software, you may be interested to know that we offer free upgrades to all our clients. Whenever we make an improvement, we offer it free to all our clients. To find out more about FMIS Fixed Assets, have a look at our product page or get in touch with us directly.

Fixed Assets v11 release – upgrade request

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Sales Order Processing case study

Sales Order Processing case study

Sales Order Processing Case Study

Engineering Sales Order Processing case study

The customer, a comprehensive professional services firm providing design solutions to private and public sector clients, required an efficient sales order processing system integrating with Deltek Vision. Key requirements included: billing interface with Vision, accounts payable interface via invoice matching, strong control over product item master records, including complex bill of material assembly.

Sales Order Processing

Sales Order Processing case study flow chart

Sales Order Processing flow chart

The sales order can be made up of many combinations of assemblies, items and services. As a user constructs the sales order the system provides real time control over margins and build specifications. The system allowed an easy set up of all required parts and a straight forward authorisation trail.

Fulfilment: purchase or stock

The purchase order will be automatically routed to the preferred vendor for the associated items within the bill of assembly. Vendor selection can be overridden on the sales order if required. The user can also select the item to come from stock, selecting a specific batch quantity or serial number to be added to the packing list. Any final purchase orders will be emailed to the vendor once any authorisation has been completed.


Vendors receive the purchase order by mail or by email. A system alert manager monitors the progress of the purchase against the required delivery dates. Purchase order amendments can be raised at any time. Utility bills and other contracted costs can also be entered as purchase contracts.

Goods receipt

Each category of product has its own set of attributes to be used when recording the eventual receipt of the goods or service. Any serialised item can have make, model, year of manufacture, serial number or any other items captured by electronic entry, manual entry or through the punch-out service.

Equipment and inventory

Any IT equipment is logged into the physical asset register passing on all of the prior information collated to date. The Equipment system allows for asset tracking and automatic reconciliation with the Fixed Asset register.

Invoice matching

Vendor invoices can now be easily matched (two, three or four-way) against the system. The batch of vendor invoices are automatically generated into the Vision Accounts Payable system. Any variances, subject to route and category limits, will automate the production of a new purchase order change request.


All part/full shipments will generate a billing entry in Vision with the correct sales order references, quantity and values. Shipping documents can be formatted and templated by the system.

Barcoding in Hospitals : NHS Bristol case study

Barcoding in hospitals: Bristol NHS trust uses FMIS software

Barcoding in Hospitals : NHS Bristol case study

Barcoding in hospitals

NHS Trust required a flexible solution

The technician team in the Trust Services division within University Hospitals Bristol NHS Foundation Trust uses FMIS Barcoding and Equipment modules to keep track of everything from high-end human patient simulators through to laptops and even syringes. The department not only need to be able to track and identify a wide range of fixed assets and inventory across different departments, but also require the flexibility to loan many of them out for periods to other areas of the Trust and beyond.

“We are very unique when it comes to asset management. Three medical departments, very expensive high fidelity human patient simulators, resus manikins, training limbs, flat screen televisions, laptops and MacBooks, other IT and A/V equipment, plus a whole host of other kit right down to boxes of syringes!”

Rob Kozlowski
Technical Support Manager
Equipment and Maintenance

FMIS Equipment and Maintenance module allows a full log of any maintenance work carried out to be logged and future work planned for and scheduled ensuring that maintenance plans are adhered to. The module’s full life cycle tracking functionality combined with the simple creation and disposal of fixed assets means that the purchase, warranty, repair, maintenance, assignment or transfer of equipment is centrally logged and easily accessible to staff members within the team at any time.


Integrated barcoding

Integration of FMIS Barcoding with the Equipment and Maintenance module simplified the process of data collection and attribution significantly. FMIS arranged for the scanners and durable branded labels to be sent directly to the Trust in Bristol and worked with their IT departments to ensure that all hardware, IT security and sourcing requirements were met within budget. Even after implementation of the project, FMIS developers worked with the team to provide additional functionality to enable the handling of more complex equipment loans. The ongoing support package means that an experienced developer or consultant is available to answer queries and handle any issues.

For more information on FMIS Equipment, Maintenance and Barcoding products, please see our solutions page or contact one of the team directly at or on +44 (0) 1227 773003.

FMIS fixed asset software case study: Express Newspaper Group

Fixed assets audit at the Express

Fixed asset audit at the Express

Fixed assets audit at the Express

The Daily Express Newspaper Group needed to reconcile their fixed asset register entries in PeopleSoft through regular barcode audits. FMIS provided a mechanism where data was extracted using core PeopleSoft routines to identify asset groupings, scope and boundaries. These extracts were loaded into the FMIS Barcoding module and then used to produce a set of automated matching criteria. A set of keywords, codes and classifications were downloaded onto barcode readers which were then used for the final audit at different sites. The key requirement was to audit high-value asset categories.

Express flow diagram

Express flow diagram

Planning and preparation

A number of key boundaries, scopes and objectives are set for sections of the fixed asset register. The key words are analysed from the field asset categories and description fields and used to build up a set of key markers on the barcode scanners.

Extract from PeopleSoft

PeopleSoft has in-built facilities to provide downloads for the fixed assets barcode audit exercise. Some particular audit runs are taken from the test system to prove the concept. Some developer time is required to ensure the pre-built routines are optimised.

Load FMIS matching routines

Using customer and location knowledge, a set of algorithms are loaded into their fixed assets register, allowing the system to automate the matching of items loaded into the barcode scanner with the details uploaded from the fixed asset register.

Conduct audit

Barcode scanners are used to load approximately 250 assets per day. Each asset is barcoded, and certain information entered from operator prompts on the barcode scanner. All data is uploaded through synchronisation.

Find matches and produce mismatch reports

Once the audit is complete matches are run and fine tuned until at least 90% of all equipment items are matched back to the fixed asset register using the intelligence built into the matching algorithm.

Produce bulk adjustments for PeopleSoft

Fixed Assets produces the results file in the correct format for PeopleSoft. This file is uploaded into PeopleSoft and a mass changes batch is run.

Produce final financial account in Fixed Assets

The fixed asset register within PeopleSoft has updated barcode, serial numbers and location information. Any disposals required are also processed. A match has been achieved between the physical barcode register and the fixed asset register.