FMIS Fixed Assets is a fixed asset management system for medium to large asset-intensive organisations. The company has nearly 30 years’ experience in asset management software and over 95% customer loyalty.
The software is comprehensive and has the ability to handle multiple countries, currencies, companies and depreciation methods. The system’s flexibility makes it suitable for both the public and private sectors and it is compliant with all key regulations including UK/US GAAP, SOX, IFRS and most international standards.
FMIS Fixed Assets is part of a modular system that allows users to create solutions to meet their specific needs. Its core functionality includes fixed asset depreciation, asset tracking, inventory management, maintenance and fixed asset lease accounting, with depreciation forecasting and document management included as standard. A range of reports is included and the in-built report writer creates bespoke reports as required. The program can also integrate with spreadsheets and enterprise-level ERP and finance systems.
Kenatu from Tourism Development Co. Ltd.
Specialty: Government Agencies
Employees number: 51-200 employees
I used to use a third party fixed asset module from Normin, since I found this software, my internal customers have asked where has this been all there lives. This is truly asset management with a lot of extras, or maybe I never knew what fixed asset management was until this software.
Complete tracking of all assets from purchase to disposal and at multiple locations.
I can break it down to branches and still roll it up as a whole.
Reporting is fabulous and its graphical
Easier management of maintenance of equipment (e.g. H VAC, Copy Stations etc) and keep track of ROI and schedules.
Everything is in a different module and the complete package can get pricey.
Overall easy to use to track fixed assets, forecast depreciation schedules, etc.
Pretty easy to use software for tracking our fixed assets, depreciation schedules, etc. You have to recognize that there will be some time you'll need to invest in doing the initial software setups correctly but everything worked as expected after doing so.
The reports are good but have some concerns of minor annoyance. Uploading data requires adherence to very specific field data definitions. Reports had some limitations regarding what could be reported by period vs. end of fiscal year, etc.
Adeline from Sheffield Hallam University
We implemented the system in June 2016 and received quick response during and after implementation. The system itself is intuitive and user friendly with minimal training. As a user, I am most impressed with the reports that can be generated (standard reports) which we found lacking in the previous system we had. There are also plenty of asset data fields to incorporate additional asset information e.g. Serial number, make, model etc which we find useful to track assets for physical verification. Depreciation forecasting is currently only done in periods so we will need to explore annual forecasting as a separate setup. The upload of asset data has to meet specific formats and number of character, decimal lengths so this is the only minor drawback we found with the system. Otherwise, a pretty sound, basic all round stand alone asset system which meets our organisation requirements.
Helen from Victor Marine Ltd
A reasonably straightforward package to use!
JayneE from gba Systems Integrators, LLC
Love that this software does all of my inventory management. Also love that when I need something special, FMIS works with us until it is delivered. We also have to sync with our Corporate software (run by a sister company), and FMIS does this nicely (with Vision)...keep up the GREAT WORK team...can't wait to see what is coming NEXT!
Michael from Veteran Corps of America
FMIS customer service is excellent. Our version was initially adapted for our need to track customer-owned materials that our company holds. As our business developed and diversified, FMIS worked with us to improve speed and functionality for managing large quantities of items and to expand invoicing capabilities. Users in our organization are very pleased by the creativity and responsiveness of the FMIS team in helping them meet new challenges.
Michael from KWE
This is the best software we identified after extensive research which allows us to efficiently manage and organize fixed asset data as well as accurately calculate depreciation and valuations for statutory reporting purposes
Rona from Science Museum Group
very helpful support team, quick response times;
adequate scope for recording asset details due to the number of profile fields;
ease with which depreciation can be advanced / deleted greatly assists with checking how
more out of the ordinary transactions will be processed in the register;
the flexibilty of amending and adding to periods within an accounting year prooved to be invaluable when implementing a last-minute revaluation
ability to export reports to excel is extremely useful;
price competetive compared to some alternatives,
none of significance.
manual could perhaps be clearer as regards revaluing, tranfrerring or splitting assets.
Dont skimp on set up time. Allow time for setting up general ledger posting as well as the asset regiseter itself.
Paul from ChannelPorts Ltd
Installation was experly done and the support has bene some the finest I have come across from a software compamy.
Kevin from Government Actuary's Department
This software is relatively easy to use. All the essential functions that I need to carry out to maintain a fixed asset register are there. Customer service is very good, with fast response time.
While there is a number of different reports in the system to use, I think there is space to improve, such as drill down facilities on reports to see the breakdown of a subhead. I appreciate that I could run a full excel download to see the breakdown, however, it could be time consuming to sum up all the subheads and reconcile them to the depreciation reports, for example.
Response: FMIS, FMIS Ltd.
Date: May 2015
Thanks for the feedback Kevin. I'm glad to hear your experience with the support team has been so positive.
Summary reports can be run at a detailed asset level, so I'll ask the team to get in touch with you shortly to look at what you need them to do.
Tim from Special Metals Wiggin Hereford
We probably only use about 20% of this software/systems capabilities. Through no fault of FMIS we never really implemented the software correctly in the first place , this was down to our own internal resource at the time of implementation. To be able to fully utilise this system we would need to re-design the formatting of the fixed assets and the way they have been entered into the system in the past .
Response: FMIS, FMIS Ltd.
Date: August 2015
Thanks for the feedback Tim.
The system does have a lot of additional functionality and we would love to help you get the most out of it. Internal resource is always a challenge, but talking with the consultants, I think they have a few ideas to discuss with you.
We will be in touch very shortly.
Abdil from CES Africa Investment Co. Ltd.
FMIS Asset Management system is an excellent software. It has rich and easy to use functionalities. Its integration with bar coding module allows easier asset tracking and auditing.
Technical support I received from FMIS is excellent and timely.
Bina from Doncasters Ltd
I have found the system quite easy to navigate around and once you have had a chance to play around with it, it is quite logical and systematic.
The customer service has been very good, all requests for help/any queries have been dealt with promptly and our client contact has always been willing to help.
The turnaround on the initial data conversions/set up have been quick.