Avoid the Pitfalls of Fixed Assets Management via ERP

Released: Aug 31, 2022 |

Length: 5 pages |

Language: English |

Resource: Whitepaper

Many companies have achieved success through the implementation of an enterprise resource planning (ERP) system to facilitate operational coordination across functional departments. Though successful implementation of these systems can be beneficial from a strategic planning and management control perspective, the ERP may not be the best answer for every situation a firm’s accounting department encounters.

This document outlines the pros and cons of relying on an ERP-based corporate financial accounting system for fixed assets management and tax depreciation calculations and presents an alternative strategy. These pitfalls and lessons learned come from decades of successful engagements involving consultations and integration of GAAP, tax depreciation, and fixed assets management solutions in organizations ranging from small businesses to the Fortune 100.

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