From Multiple Spreadsheets to One Comprehensive Solution: How FMIS Transformed Doncasters’ Fixed Asset Management
Doncasters Group Ltd., a leading international manufacturer of high-precision alloy components, faced the challenge of tracking fixed assets across 30 manufacturing sites worldwide with multiple general ledger systems. The company needed a solution to consolidate accounting and tax values of assets for group-level tax calculations. FMIS Fixed Asset Management software offered a comprehensive solution to meet Doncasters’ requirements.
The Challenge: Tracking Fixed Assets Across Multiple Sites, Companies and Currencies
Doncasters Group operates in a complex environment, with manufacturing sites spanning across different countries and locations. Prior to implementing FMIS software, the company relied on multiple spreadsheets with varying ownership and approaches. This system made it difficult to maintain accurate asset data and ensure compliance with local accounting standards and International Accounting Standards (IAS).
The Solution: FMIS Fixed Asset Management Software
FMIS Fixed Asset Management software provided Doncasters Group with a user-friendly system to handle multi-site, multi-national, and multi-book requirements. The software offered consolidation capabilities, auditor approval, local accounting standards/IAS compliance, improved internal control and procedures, enhanced management information, and excellent reporting and searching facilities.
“The FMIS system has been one of the most user-friendly systems I have ever used.”
Bina Mistry, Financial Controller
Key Benefits for Doncasters
Time Savings and Improved Accuracy – The FMIS software allowed Doncasters to consolidate all asset tracking into a single platform. Mike Babester, Audit Manager at Doncasters Ltd, stated, “With the FMIS software, we have been able to bring all these together in one place, saving us a lot of time and improving accuracy.”
User-Friendly Interface – The clean, intuitive interface allowed users to quickly and easily both at a company and group level.
Compliance and Control – With FMIS software, Doncasters Group gained the ability to ensure compliance with local accounting standards and IAS while maintaining maximum control over capital expenditure.
Streamlined Processes and Enhanced Reporting – FMIS Fixed Asset Management software streamlined asset-related processes, providing the company with enhanced reporting capabilities and better visibility of its assets.
One solution for multiple challenges
Implementing FMIS Fixed Asset Management software has significantly improved how Doncasters Group manages its fixed assets. The company now benefits from a consolidated, user-friendly system that saves time, improves accuracy, and ensures compliance. The software’s streamlined processes and enhanced reporting capabilities allow the company to make informed decisions and optimise asset utilisation, demonstrating the value of FMIS Fixed Asset Management software in a complex, multi-site manufacturing environment.
Find out more
For more information about using FMIS Asset Tracking software for the aviation sector or to arrange a demo of the system, please get in touch. Request a demo or call us on +44 (0) 1227 773003.