Wax News Archive
Wax Digital releases web3 Asset Management
Wax Digital has announced the release of web3 Asset Management a web-architected Enterprise Asset Management (EAM) solution that delivers enterprise-wide visibility and control of the fixed asset register through an intuitive web interface.
The software enables organisations to take total control of corporate assets, including comprehensive asset tagging, location recording and depreciation functions which allow for all qualifying inbound goods to be quickly, easily and compliantly added to a dynamic asset inventory.
"The new web3 Asset Management solution delivers process control and compliance from initial goods selection and purchase, through receipting and tagging, to deployment, depreciation and ultimately retirement of the asset," said Daniel Ball, director, Wax Digital.
"The solution seamlessly integrates with Wax Digital's web3 Purchase-to-Pay and Contract Management modules making asset management an integral part of the whole procurement lifecycle - bringing together the supply chain aspect of EAM and the financial needs of the organisation."
A combination of automated notifications and sophisticated reporting tools make inventory analysis and event-based activities such as warranty renewals easy to manage whilst providing compliance with audit commitments such as Sarbanes Oxley.
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 The new web3 Asset Management solution delivers process control and compliance from initial goods selection and purchase through to the retirement of the asset. Wax Digital
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Features include multi currency depreciation of assets, service and task management capabilities, barcode and scanning support as well as asset disposal functions.
Variable depreciation rules can also easily be tied to a range of product categories or classes, as well as to different elements within the business model - allowing, for example, one part of the organisation to depreciate the same product class using different terms than another.
"Difficult economic times really put the spotlight on spend and asset control and we're seeing a big increase in demand for asset management seamlessly linked to the overall procurement process - web3 Asset Management achieves just that," said Daniel Ball.
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