FMIS Fixed Assets
FMIS Fixed Assets is a comprehensive asset management software designed to help you track, manage, and depreciate your organization's physical and intangible assets while ensuring full international accounting compliance.
RedBeam
RedBeam is a fixed asset tracking software that helps you manage, track, and audit your organization's physical assets using barcode and RFID technology to ensure data accuracy and compliance.
Quick Comparison
| Feature | FMIS Fixed Assets | RedBeam |
|---|---|---|
| Website | fmis.com | redbeam.com |
| Pricing Model | Custom | Subscription |
| Starting Price | Custom Pricing | $75/month |
| FREE Trial | ✘ No free trial | ✓ 30 days free trial |
| Free Plan | ✘ No free plan | ✘ No free plan |
| Product Demo | ✓ Request demo here | ✓ Request demo here |
| Deployment | ||
| Integrations | ||
| Target Users | ||
| Target Industries | ||
| Customer Count | 0 | 0 |
| Founded Year | 1982 | 2003 |
| Headquarters | Canterbury, UK | Savannah, USA |
Overview
FMIS Fixed Assets
FMIS Fixed Assets gives you total control over your organization's entire asset lifecycle, from initial procurement through to final disposal. You can eliminate manual spreadsheet errors by automating complex depreciation calculations across multiple books, including GAAP, IFRS, and local tax requirements. The platform provides a centralized register where you can track locations, custodians, and maintenance schedules in real-time.
You can easily manage high volumes of assets across different departments or global entities using a single, unified interface. The software scales to meet the needs of mid-market and enterprise organizations, particularly those in asset-intensive industries like manufacturing, healthcare, and education. By integrating directly with your existing ERP or finance system, you ensure that your balance sheets always reflect accurate, up-to-date asset values.
RedBeam
RedBeam provides a streamlined way for you to track and manage your organization's physical assets from acquisition to retirement. Instead of relying on messy spreadsheets, you get a centralized database where you can record asset locations, serial numbers, maintenance history, and depreciation. You can perform fast, accurate physical audits using mobile devices, significantly reducing the time spent on manual data entry.
The platform is designed for organizations of all sizes, particularly those in government, healthcare, and education sectors. You can easily generate compliance reports and maintain an accurate trail for financial audits. By using barcode or RFID scanning, you eliminate human error and ensure your asset records always reflect reality, helping you avoid unnecessary purchases and tax overpayments.
Overview
FMIS Fixed Assets Features
- Automated Depreciation Calculate depreciation automatically using various methods like straight-line or reducing balance to ensure your financial reports remain accurate.
- Multi-Currency Support Manage assets across global locations with support for multiple currencies and different international accounting standards in one system.
- Asset Tracking Monitor the physical location and status of your equipment using barcode or RFID scanning to prevent loss and theft.
- Maintenance Management Schedule regular servicing and track repair costs for your assets to extend their useful life and reduce unexpected downtime.
- Lease Accounting Stay compliant with IFRS 16 and ASC 842 standards by managing your leased assets and contracts within the same platform.
- Audit Trail Maintain a complete history of every change made to an asset record to simplify your internal and external audits.
RedBeam Features
- Mobile Auditing. Conduct physical inventories and audits directly from your mobile device to update asset locations and status in real-time.
- Barcode & RFID Support. Scan assets quickly using standard barcodes or RFID tags to eliminate manual entry errors and speed up data collection.
- Role-Based Access. Control exactly what your team members can see and edit by assigning specific permissions based on their organizational roles.
- Comprehensive Reporting. Generate detailed reports on asset depreciation, location history, and audit results to stay compliant with financial regulations.
- Custom Fields. Tailor the software to your specific needs by adding custom data fields that track the unique details of your assets.
- Asset Lifecycle Tracking. Monitor the entire journey of an asset from the moment you purchase it until it is finally retired or sold.
Pricing Comparison
FMIS Fixed Assets Pricing
RedBeam Pricing
- Up to 500 assets
- Unlimited users
- Mobile app access
- Barcode scanning
- Standard reporting
- Email support
- Everything in Standard, plus:
- Up to 2,000 assets
- Advanced reporting
- API access
- Priority support
- Custom data imports
Pros & Cons
FMIS Fixed Assets
Pros
- Handles complex multi-national depreciation requirements with ease
- Highly configurable to match specific industry workflows
- Excellent technical support during the implementation phase
- Seamless integration with major ERP systems like SAP and Oracle
Cons
- Interface feels dated compared to newer SaaS platforms
- Initial setup requires significant time for data migration
- Learning curve for users unfamiliar with advanced accounting
RedBeam
Pros
- Very easy to set up and start scanning immediately
- Mobile app interface is clean and highly responsive
- Significantly reduces the time required for annual audits
- Customer support is responsive and helps with data migration
Cons
- RFID features require specific hardware compatibility
- Reporting customization can be limited on lower tiers
- Initial data import requires careful formatting