Fixed Assets Module Functionality Boosted to Meet Current Business Requirements
SYSPRO, a developer of best-of-breed, award-winning enterprise resource planning (ERP) software for on-premise and cloud-based utilization, announced today that the company has enhanced its SYSPRO Enterprise Resource Planning offering by adding new functionality to the SYSPRO Fixed Assets module — one of the cornerstone modules comprising the SYSPRO Financials offering.
The SYSPRO Fixed Assets module greatly simplifies the management of assets with improved process flows and added functionality to better align with the way companies do business in today’s global economy. Apart from automating depreciation calculations and keeping track of assets purchased and sold, the module includes a sophisticated Capital Expenditure (CAPEX) sub-system that facilitates planning and budgeting for new assets in the current financial year as well as future financial years. An approval process also allows for CAPEX items to be managed and controlled by status with the approved CAPEX lines ultimately resulting in the creation of WIP jobs for manufactured items or requisitions or purchase orders for bought-out items. On receipt of these items, a new asset is created in a suspended status, and the appropriate person(s) is notified to validate the information.
In addition, a variety of depreciation methods, basis and date conventions is now fully available, as well as a streamlined facility to process depreciation adjustments. Revaluations and inter-branch transfers are easily catered to, as are asset stock taking and asset expense tracking. The SYSPRO comprehensive analytics and reporting features provide comprehensive reporting and querying, while user-defined groupings and categories further simplify by allowing for the separation of registers by department or other company-designated structures.
According to SYSPRO President Joey Benadretti, “The additions made to SYSPRO ERP financials are exemplary of the ways in which SYSPRO continually enhances the functionality of the company’s SYSPRO ERP software offering. The needs of manufacturing and distribution entities are continually changing with the enactment of new legislation and the emergence of new competitive business pressures. SYSPRO listens and responds to these needs with enhancements to its ERP offering.”