Asset Lifecycle Management

The OBS Asset Management system provides comprehensive control and visibility across the entire lifecycle of organizational assets.
From acquisition to assignment, transfer, and eventual retirement, every stage is seamlessly managed to ensure operational efficiency, compliance, and accountability.

Key Stages in Asset Lifecycle

Acquisition and Registration

Assets are created and registered with detailed attributes in the Long-Term Tangible Assets module.
This stage includes recording essential details such as asset name, inventory number, acquisition amount, and depreciation details.
These records establish the foundation for tracking and managing assets throughout their lifecycle.

Assignment and Transfer

Once registered, assets can be assigned to employees or transferred between offices and departments.
These processes are handled through the Assets Transfers module or Direct Asset Exchange.
The system ensures that asset movements are logged accurately, capturing the current location, responsible employee, and any changes in asset status.

Retirement and Archival

When assets reach the end of their useful life or are no longer required, they can be marked as retired in the system.
Retired assets are recorded in the "Retired" status, ensuring they are archived for future reference and compliance audits.
This maintains a comprehensive history of the asset lifecycle while distinguishing inactive assets from active ones.

Features Supporting Lifecycle Management

• Audit Trails: Every action related to an asset is logged, providing a detailed history for accountability and compliance.
• Automated Workflows: Streamlined processes ensure that asset movements and status changes follow organizational policies.
• Integrated Reporting: Generate reports on asset status, location, and historical movements for better decision-making and planning.

With its intuitive design and robust features, the OBS Asset Management system simplifies lifecycle management, allowing organizations to focus on optimizing asset utilization and maintaining regulatory compliance.