We’ve all used them, spreadsheets, whether it’s to do a simple list of items, or whether you are looking to create advanced sums for business forecasts. Although they are not really good enough for our uses, we still manage to put up with them. No doubt that is because they are bundled into our operating systems and we would rather use something that’s not quite perfect instead of buying a decent one.

Although spreadsheets have their downsides, they do have advantages and are useful for a number of uses. The biggest pluses is that they can manage simple calculations, create graphs using the data, and create easy to manage business forecasts. They all prove to be useful at some point in time. However, because they do have their downsides, they are not suitable for some tasks such as tracking your UK fixed assets.

Although spreadsheets sound like they would be good for storing company asset data, they are simply not as advanced as an asset tracking software UK package.

To a certain extent, a spreadsheet can prove to be useful for tracking assets, however, once you start wanting to store more data about more assets, the spreadsheet is no longer useful.

Here are some features you should look out for when buying an asset management software suite.

• They are required to store enough in-depth data about your items. Even though the amount of data a spreadsheet can store is enough for some tasks, in asset management it tends not to be. The data that’s stored may not provide enough detail.
• They must be able to match the complex structure of the company. If the asset can be placed in a number of categories within the company, a simple spreadsheet cannot handle this complex structure.
• They should be very flexible and be able to restructure very easily. Once you start creating a more advanced spreadsheet, it then becomes tough to add new data and alter the structure.
• They must be able to manage different price depreciation levels on seperate items. If a number of assets has been purchased all at different points in time, but they are linked together, like a computer, keyboard, mouse and monitor. The management software should be able to handle multiple depreciation levels.
• They should be able to manage re-lifeing of company assets. If an asset is re-assed and is found to be of use, the depreciation level on the item must be altered.
• The software should be able to create structured data reports. Spreadsheets make it difficult to create useful, structured data reports.

That was a list of a few features that any asset management software suite should come with. Also, it’s the primary reason why a bog standard spreadsheet package is no good for storing asset data and managing it within a fixed asset register.

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