3 reasons you need to connect the purchasing system with the asset management system
The asset management system manages the life cycle information of physical assets, what, where, and who of the physical assets, but the life of the physical assets really begin in the purchasing system. The purchasing system has the requisition, purchasing order, project number, funding source information as well as basic descriptions of the assets. That’s why connecting the purchasing system with asset management system makes sense.
Specifically, there are 3 reasons you need to connect the purchasing system with the asset management system:
- Reduce manual data entry when recording new assets in the asset management system. If the two systems are not connected, you can use regular batch upload for recording new assets. But that will involve exporting new assets information from the purchasing system and importing them into the asset management. Can you do that consistently and reliably?
- Automatically serializing items from the same PO line. This is a very time consuming process if it needs to be done manually. When you buy 50 laptops of the same make and model, you need to enter the same asset 50 times? Although most asset management systems allow you to “Save and Reuse” the same information, but you still need to record 50 assets.
- Carry the source of asset funding information into the asset management system to ease the burden of reporting. Often, organizations need to report the use of equipment to the funding sources. Sometimes, one piece of equipment is purchased with multiple funding sources. By connecting the purchasing system with the asset management system from the beginning, the funding source (i.e. a project name, or a code) is attached to the equipment record. So it’s very easy to produce a report on the use of equipment by funding sources.