Retail finance leaders must stay on top of asset management demands across global store locations. With Oracle Modern Best Practice, you can use mobile, social, analytics, and cloud to gain greater control of your asset management lifecycle across your entire store ecosystem. With a global record of store assets and equipment, such as fixtures and display units, you can accurately monitor budgets against actual costs. Respond quickly as the consumer demand for specific asset types changes. Monitor and interact with your dispersed stores to finalize any asset activities and transfer data to the general ledger. Take advantage of cloud for an easy platform to securely collaborate on asset acquisition, deployment, depreciation, retirement, and reinstatement.
Record all asset acquisitions such as store fixtures and display units at all locations via purchases, projects, contracts. Use secure social networks to communicate on open issues, questions, and approvals.
Automate the recognition of assets upon purchase. Dashboard-driven placement into service with useful life definition and tax valuation.
Rule-based assignment of assets to cost center(s) with automatic calculation of depreciation. Automatically track depreciation tax breaks and referrals.
Manage asset valuations, disposals, derecognition, and retirements in compliance with legal requirements while maintaining accounting and tax position alignment.
Use secure, role-based dashboards to actively manage fixed assets. Centralized monitoring, alerts, reassignment, and period close for all store and distribution center locations.