Fixed Asset Management – The Integration Solution

Investing in real estate is a complex process, and managing the assets of your commercial properties can be challenging. However, integrating your real estate solutions can help you overcome the hurdles of fixed asset management. Software integration helps to streamline and simplify your process, saving you time and money.

Fixed asset management involves keeping track of your real estate assets, including buildings, land, and equipment. The process can be time-consuming and complex, requiring detailed records and regular maintenance. However, integrating your real estate solutions can help you manage these assets more effectively.

Fischer Solutions can help you expertly manage your commercial real estate portfolio. We have a long list of application integrations into our cloud-based lease and asset management software. Keep reading below to see how ManagePath is the integrated solution to your fixed asset management.

Cloud-Based Software Integration

Integration is the process of combining different software components into a larger software system that functions as a cohesive unit. The integration process involves various stages, such as:

• Planning – The components that need to be integrated are identified, and a plan is created for how they will be combined.
• Design – Determining how the components will work together and ensuring that their interfaces are compatible.
• Implementation – Actually integrating the components by writing code, configuring systems, and connecting them through APIs or other communication protocols.
• Testing – Ensure that the integrated system functions correctly and meets the requirements.
• Deployment – Finally, the integrated system is deployed and put into operation.

Cloud-based integration connects an external system with software that is hosted and operated in a cloud computing environment. The cloud provider is responsible for maintaining the infrastructure and ensuring that the software is available to users at all times.

ManagePath connects through an API (Application Programming Interface) to enable communication between your existing system and Fischer Solutions’ software. This API allows the client to integrate data from their internal systems into ManagePath. Connecting that data with the rest of their Real Estate Portfolio information.

Overall, integrating into cloud-based software can provide a range of benefits for your asset management. Improved efficiency, increased scalability, and access to advanced features and functionalities are just a few of the ways ManagePath can help!

Overcoming Fixed Asset Software Integration Hurdles

When major assets need replacement, that affects larger real estate decisions around a client’s portfolio. Should your investment strategy involve integrating multiple systems into one, you might have a few hurdles to overcome.

ManagePath improves processes and communication between the Real Estate Transaction / Project Management Teams and the Fixed Asset Team. Here are some of the ways integrating into ManagePath can help you overcome the hurdles of fixed asset management:

1. Major Fixed Asset Tracking in ManagePath

Clients will track their major assets in ManagePath by adding them to an existing Owned Property or Lease.

Major Assets

• Facility – Roof Replacement, Signage, Lighting, etc.
• Equipment – HVAC, Printers, IT Equipment, etc.

The benefit of tracking that information in ManagePath is that it will also have the relevant lease details. This helps when making decisions about when or if equipment should be replaced.

Tenant Improvement

ManagePath also tracks all Tenant Improvement (TI) Allowances that were negotiated in a contract. The client knows how to use those existing funds for major asset improvements / replacements. ManagePath’s TI Allowances module allows the user to subtract funds as they are used and track remaining TI Allowance balances.

Owned Facilities

The same can then be done for assets on owned facilities. The client can track:

• The Remaining Useful Life of the Asset
• Expected Replacement Date
• Expected Replacement Cost for Spend Plan Forecasting

ManagePath Projects

Another benefit of tracking Fixed Assets in ManagePath is when it is time to replace or repair an asset. A project can be created in ManagePath directly off of the Owned Facility, Lease, or Equipment Record to manage replacement / repair. 

In ManagePath Projects, the client has access to tools for:

• Managing a Budget and Spend Plan Forecast
• Tracking Project Timelines through Tasks and Milestones
• Viewing Vendor Contracts and Invoices to subtract against the remaining budget

2.    Streamlined Fixed Asset Data Management

Streamlining your data makes it easier to track and manage your assets. You can access all of your asset data from a single platform. This eliminates the need for multiple systems and reduces the risk of data errors.

With centralized data management, employees can access the data they need quickly and easily. This can save time and increase productivity. Additionally, it ensures that the data is accurate, up-to-date, and consistent. This can help improve decision-making based on reliable data.

ManagePath aims to streamline and simplify your process, saving you time and money.

3.    Automated Processes

Automating your fixed asset management processes gives you more control over:

• Alerts – Prevent missed deadlines for critical dates, such as inspection deadlines, closing dates, and loan commitment deadlines.
• Maintenance tasks – Reduces the risk of equipment failure and prolongs the lifespan of your assets.
• Depreciation method – Makes it easier to calculate the value of your assets over time.

4.    Real-time Reporting

Generate real-time reports on your real estate assets, giving you the information you need to make informed decisions. ManagePath tracks the performance of your assets, monitors maintenance schedules, and identifies opportunities for cost savings and efficiencies.

5.    Improved Collaboration

Improve the collaboration between teams, making it easier to manage your assets across multiple locations. You can share data and information with other departments, such as finance and accounting. This ensures that everyone is on the same page and working towards the same goals with your asset tracking.

6.    Enhanced Data Security

ManagePath enhances your data security, reducing the risk of data breaches and unauthorized access. You can implement robust security measures, such as encryption and multi-factor authentication, to protect your asset data.

Overcoming your fixed-asset management is easy with ManagePath. Streamlining data management and automating processes for improved efficiency. Real-time reporting and improving collaboration for better decision-making. Lastly, enhancing data security to help better manage your assets.

Conclusion

In conclusion, ManagePath can help you overcome the hurdles of fixed asset management for your investment property and entire Real Estate Portfolio. Schedule a demo TODAY with Fischer Solutions. Our in-house team of experts can show you how ManagePath will maximize your fixed-asset management.