Oracle Modern Best Practice—Asset Acquisition
Asset Acquisition to Retirement
The mobile, social, and analytic capabilities built into modern best practices give you greater control of the entire asset management lifecycle. Monitor and interact with your entire enterprise through web-based applications to finalize any asset activities and transfer data to general ledger. With a complete view of your assets and equipment, you can align budgets with actual costs. Take advantage of the cloud for an easy platform to securely collaborate on asset acquisition, deployment, depreciation, retirement, and reinstatement. Use the following best practice as your roadmap for efficient, data-driven financial processes.
Streamline Processes, Stay in Control
- Align fixed assets with legal reporting requirements
- Support mobile transactions
- Improve productivity with role-specific dashboards
- Monitor asset location and transfer assets to new locations and custodians with ease
- Control costs with standardized processes
- Automatically comply with corporate capital asset acquisition policies
Mobile. Analytics. Social.Acquire Assets
Global recording of all asset acquisitions at all locations via purchases, projects, contracts and secure interaction via social network on open issues, questions and approvals.
Mobile. Analytics. Social.Recognize and Register
Automated recognition of assets on purchase. Dashboard driven placement into service, useful life definition and tax valuation.
Mobile. Analytics.Assign Amortization
Automated calculation of depreciation and rules-based assignment to cost center(s) etc. Automatically track depreciation tax breaks and deferrals.
Mobile. Analytics. Social.De-recognition and Disposal
Manage valuations, disposals, de-recognition and retirements in compliance with legal requirements—maintaining account and tax position alignment.
Mobile. Analytics. Social.Manage Asset Insights
Manage actively fixed assets via secure role-based dashboard allowing centralized monitoring, alerts, reassignment and period close for all locations.