Do You Need FAMe Work Orders or SAP Service Calls?

FAMe Maintenance Work OrdersFAMe has an Equipment Maintenance capability that provides Maintenance Contracts and Maintenance Work Orders (MWOs) for any and all Equipment, whether owned by the Company, or owned by their Customers. MWOs are based on Asset Masters, which serve as ‘Equipment Cards’.  These Asset Masters contain considerably more information than an SAP Equipment Card, making them far more powerful when working with Equipment.

SAP Business One has a Service capability that provides Service Contracts and Service Calls for Equipment that has only been sold to Customers.  These Service Calls are based on SAP Inventory Items / Serial Numbers that have been delivered to a Customer using the Sales and AR functions.

Understandably, many of our customers see these similarities and differences and need some help in understanding where SAP Service capabilities fall short and where FAMe becomes increasingly necessary.  Take a look at this quick comparison of SAP Service and FAMe:Maintenance as they relate to many of the required functionalities used in equipment maintenance.

Capability SAP Service FAMe Maintenance
Warranty / Service Contracts
– With Customers YES YES
– With Vendors / Manufacturers NO YES
Types of Property, Plant, and Equipment
– Equipment Sold to Customers YES YES
– Equipment Rented to Customers NO YES
– Owned Equipment NO YES
– Internal Facilities NO YES
Types of Maintenance handled
– Unscheduled YES YES
– Scheduled / Preventive NO YES
– Scheduled based on Meters / Usage NO YES
– Follow-ons YES YES
– Rental Return NO YES
Procedures
– Handles a single Procedure YES YES
– Handles Multiple Procedures NO YES
– Can be assigned to Techs or Vendors NO YES
Parts and Labor
– Manages Parts and Labor in General YES YES
– Manages Parts and Labor by Procedure NO YES
– Manages Parts by Technician NO YES
Technician Performance
– Parts used versus estimated NO YES
– Labor used versus estimated NO YES
– Actual Cost versus estimated NO YES
– Actual Downtime versus estimated NO YES
Overall Work Order Performance
– Process Alerts during initial entry NO YES
– On- time Completion analysis NO YES
– Elapsed Time from Capture to Completed NO YES
– Multi-step Elapsed Time Capture NO YES 

 

This comparison makes it easy to see how truly powerful FAMe:Maintenance is for its users.  But looking beyond just basic capabilities, now see some of the resultant benefits that come from using FAMe MWOs versus SAP Service Calls:

  • A Service Call requires that the Item / Serial Number be ‘sold’ to the Customer who possesses it. This is fine if all Equipment being serviced is actually sold. It is not ok if the Equipment is owned, Rented to the Customer, or Leased to the Customer. For each of these scenarios, the Equipment is likely a Fixed Asset on the Books, and not in Inventory at all.
  • FAMe Equipment Maintenance manages scheduled maintenance for each piece of Equipment, where SAP Service does not.
  • MWOs have detailed time stamps which track latency from MWO Capture, through Assignment, Dispatch, Arrival, Start, Finish, and Close.
  • MWOs manage multiple procedures, where Service Calls do not.
  • If there are multiple maintenance processes to be performed (almost always the case with Scheduled Maintenance), these would be notated but not managed in a Service Call. MWOs manage multiple procedures from beginning to end.
  • MWOs are multi-technician, where a Service Call is not.
  • Each Procedure in a MWO can be individually assigned to different Technicians, or outsourced to different Vendors. A Service Call is an ‘all or nothing’ process.
  • MWOs recognize Maintenance Contracts with Vendors for managing Warranties and other contracts, ensuring that MWOs can be charged back to the Vendor, or the proper Vendor can be assigned the MWO, or any charges from the Vendor related to the MWO are correct.
  • MWOs have process alerts, when entered, that let Maintenance Managers know all of the conditions that affect the discharge of the MWO – Customer Credit Hold, Parts Availability, PMs outstanding, etc.
  • MWOs can manage Parts by Technician, allowing proper inventory control for rolling inventory.
  • MWOs manage estimated and actual Parts and Labor by Procedure, allowing accurate performance measurements for Technicians and Procedures.
  • MWOs manage estimated and actual out-of-Service times by Procedure, allowing accurate performance measurements for Technicians and Procedures, which enable better predictions with future MWOs.
  • MWOs manage all activities and costs in SAP documents at the individual Equipment level, which enables accurate and timely management of equipment replacement decisions.

The difference is substantial.  For companies who live and breathe MRO, having a solution that goes as deep as FAMe:Maintenance is crucial to long-term success.

We would love to talk to you about how this Equipment Maintenance solution could help you increase operational performance.  Contact us for more information.

Do You Know What and Where Your Fixed Assets Are? [Part 3 of 3]

3This is the final installment of a 3 part series in which our good friend Bob Kinsler discusses the importance and implications of knowing the location and usage of your Fixed Assets. If you missed the first or second installment, go back and take a look.

Fixed Assets Module Example

A fixed asset manager was implementing the fixed assets module of an ERP software where a lot of items noted on the books were not in the retail outlets. Upon inquiry to the controller and CFO, he discovered that one of the VPs of the firm had them all within an airport warehouse waiting either to be repaired or trashed. He had tried to send a few to a local salvage yard, but was told he had to pay for the items (mostly used restaurant equipment). He tried to take them to a local dump and also was informed that he would have to pay to dispose them there too. To balance out the fixed asset management systems, the fixed asset manager went through the warehouse (120’ by 600’) to find the items that were missing and found a mess where items where stacked up to a 20- foot level with small, dangerous aisle between them. Finding those individual assets missing would take a crew of five, four months or more since no one could provide serial numbers or actual descriptions.

It also was personal property tax reporting time, which this firm had not done since they opened their doors for business. With the deadline approaching and no way of extending it, the information from the system used previously was sent to the personal property tax assessors after informing the controller, CFO and CEO of what was found and why the report sent could have been a lot less. The total bill returned to the firm was $165,000 for the fixed assets and inventory—all inclusive of past years where they were fined for non-reporting and interest upon that.

The fixed asset manager later contacted a trade school that trained people to fix these items and made arrangements for them to pick up the assets they could use within their trade school—giving the students practical experience on the equipment they would be repairing in the real world. Since it was a trade school, they could deduct the fair market value of those assets on the firm’s federal income taxes for that year and the firm got a nice write up in the local newspaper for donating the equipment. They also obtained a low-fee preventative maintenance service from the school, which the firm used to cover their workers’ comp payment. Meanwhile the students would do the work with an instructor.

Mr. Kinsler is a United States Army veteran after 20 years of service where he first discovered his passion for Fixed Assets. Since then he has worked in a few different capacities but most notably his own endeavor, Kinsler Kapital Kost Kontrol where he consults with firms on Capital Cost Control procedures and policies.

 

 

Do You Know What and Where Your Fixed Assets Are? [Part 2 of 3]

where assets 2This is the 2nd installment of a 3 part series in which our good friend Bob Kinsler is discussing the importance and implications of knowing the location and usage of your Fixed Assets.  If you missed the first installment, be sure to go back and soak it in as well.

Proper Categorizing of Fixed Assets

There is another way of reducing personal property taxes, which involves the proper categorizing of fixed assets. As an example, those copy machines you own. Are they really copying machines, or have you networked them into your computer system? If you networked them into the system, they are not copy machines anymore. You can categorize them as printers, which reduces the depreciation rate.

There are those outfits out there that will do this categorizing for part of the personal property tax reduction. But please realize that these firms can categorize the equipment incorrectly leaving you with the bill. The assessors might perform an assets audit, re-categorize the assets to their former category, and charge penalties for incorrect filings. So review their categories to ensure you agree and can document them. It is less costly to employ your own experts within your shop, give them the categories, and let them put the assets in the right slot.  

For the most part, personal property taxes for tagged motor vehicles are charged each year (or for those with multi-year tags upon the expiration date) upon registration. Those motor vehicles that are not tagged will be reported on the personal property tax returns and billed this way. Look and see which method provides the lower tax bill, and if the vehicle should be tagged do so.

Managing Leased Assets

Leased assets are a headache, mostly for the real owners of the property than your shop. Where you might be paying a local vendor for the use of the assets, the real owners might be a financial service company many miles away. If you send in your payments to a drop box, then please check your leasing contract to see who is the actual owner. Also check to see if you are responsible for the payment of the personal property tax versus the vendor or financial service firm. 

Whether or not you are responsible for the payment of that leased asset, you will be billed. Most leased asset contracts note within them that they will bill you for any taxes deemed necessary and it is your responsibility to pay it. Some financial service companies have recently established that the total cost of the asset you lease includes the sales, use tax and the total personal property taxes paid over the years of the lease. Termination of the lease to purchase the asset will allow you to receive a refund of the moneys not spent on the taxes noted before, but you will have to notify the local assessor of your purchase. Trying to get the financial service firm to pick up the taxes after the purchase will only lead to a negative comment on your credit picture (and who needs that?). They will also use numerous other methods to collect the tax payment, which adds additional administrative and handling charges. Financial leases with which you obtain title to the asset or that allow you to purchase the asset for a reduced amount at the end of the lease also require you to pay the personal property taxes for that asset (not the financial service company). 

Remember that the financial service firm’s revenues are the interest that they charge you to lease the asset; therefore, any and all related expenses to that asset will be paid by your firm. Of course, income tax deductions are possible for those expenses too.

Outsourcing the Tax Work

It is possible to outsource some of this headache to property tax firms that handled both property and personal property taxes that will charge for the proper filings. They can inform you of the personal property and property bills, act as your representative to fight before the personal property and property tax reduction boards and advise you of the proper categories for your assets.

One warning, these are your fixed assets and it is your responsibility to ensure those assets are covered. If you do not satisfy the bill, the local government can and will remove those assets from your possession. Noting that this is possible there are many folks out there just waiting to gather your assets for pennies on the dollar if you fail to pay. You might not like it, but it is there. And there are a few ways of getting around that tax. The best way is to employ a fixed asset manager who knows all seven books and can keep your shop out of trouble.

Mr. Kinsler is a United States Army veteran after 20 years of service where he first discovered his passion for Fixed Assets. Since then he has worked in a few different capacities but most notably his own endeavor, Kinsler Kapital Kost Kontrol where he consults with firms on Capital Cost Control procedures and policies.

Do You Know What and Where Your Fixed Assets Are? [Part 1 of 3]

Untitled design (1)We asked our good friend Bob Kinsler, another passionate advocate for properly managing Fixed Assets, to offer some insight on the importance of knowing where your assets are at all times. This is part one of a three part series – look for the remaining two over the next couple weeks.

There is a little challenge in fixed asset management called personal property tax responsibility. Many counties within the U.S. have this little requirement each year where your firm has to send into your total assets categorized by type, price at acquisition of the assets (add to that all the related cost to get the asset to working condition, and could include sales tax on the items used), date of acquisition and if the asset was new or used upon acquisition. Then the county, township, corporation, school districts, hospitals and the like depreciate that asset using either a state depreciation schedule or other methods, attach an assessed rate to the fair market value they come up with and bill you to support their individual needs.

We all know if we own a house or property this yearly bill comes in. These rates and the amount billed are on the fair market value of the home and/or property appraisals performed using what other homes and/or property sold for during the previous years. The challenge here is the home and property is not depreciated as many have noted in the past few years, those values are continuing upwards.

Not so with the fixed assets of your firm, they tend to wear out after a few years, but during this normal wear and tear cycle you get to pay an additional tax to own them.

If those fixed assets are a combination of a project where you have many items tied up into the completed asset. Take for example the building of a motor vehicle where you require tires, a motor, a transmission, seats, a cabin to put the seats in, glass for the windows, electronics to insure the motor vehicle is controlled, pedals to convey your desire to the vehicle to move ahead or reverse and at what speed. It is wise to look into what makes that asset.

As noted in parts one through three, there are those creative types that might slip in something that does not reflect the final asset (e.g., an internal software project in which was found a motor vehicle purchase being added into the final cost. Those spare parts, extra bits, cleaning items, and other items that really do not continue the useful life from the machines past the normal cycle or add value to the machine should be subtracted. Along with all items that really do not belong to the fixed asset(s), by using a little common sense you can find them.

The reason is that personal property tax will take that whole asset and bill you for something that is not related without providing your firm a deduction or an exemption of those items not relative to the final outcome. If the item is an expense, than expense it, since in most areas expenses are tax deductible. If an item should have been a separate fixed asset then make it a separate fixed asset.

If after one totally depreciates the asset(s) and it is still being used, keep it on your fixed asset management system. You will need this information (along with the source documents) for a possible personal property tax audit as many local assessors are doing these now to increase the money into the local, county and state coffers. If the fixed asset is no longer being used, sell it as soon as possible and inform the local assessor(s) of its sale (also keep copies of the bill of sales for those audits). Saving it for its parts only adds to that personal property tax bill, since there is a floor depreciation level, in many states that they will not go below. You know all those computer monitors you might have in some storage area, warehouse or the like? Those too are not fully depreciated by the local assessors, and disposing of them has to be done through the proper method.

Mr. Kinsler is a United States Army veteran after 20 years of service where he first discovered his passion for Fixed Assets. Since then he has worked in a few different capacities but most notably his own endeavor, Kinsler Kapital Kost Kontrol where he consults with firms on Capital Cost Control procedures and policies.


 

Best Managed Assets for Your Best Run Business – Announcing FAMe Version 2.8.1

We love to hear from our customers and resellers.  Of course, we love to hear how our solution has made the business day a little more manageable and enjoyable.  But we also love to hear practical suggestions on how we can make our solutions incredible to use.

Over the past several months, we have been meeting with clients, from around the world and in a variety of industries, who have provided us with invaluable ideas, feedback and suggestions.  They each have their own nuances, but some also overlap where we can create broader enhancements.  The result is our latest version of Fixed Assets: Enterprise (FAMe).  We’re thrilled to announce that version 2.8.1 is ready to go, and ready to make life a little easier for our users.

Here are a few of the updates we think you’re really going to like:

General

  • All FAMe Contracts that create SAP Marketing Documents have been upgraded to insert a Remark into the SAP Document Header, with that Remark being consistent with the SAP Generated Remarks.
  • All FAMe Contracts that create SAP Marketing Documents have been upgraded for Multi-Currency support, allowing the Contract to create documents in any Currency defined to the Business Partner.
  • FAMe now supports the new SAP 9.0 64-bit Client.  Several forms, particularly set-up forms, have been changed to accommodate this in SAP.

Asset Accounting and Tracking

  • Improved and expanded the capabilities when auto-adding Assets.  Assets can be auto-created from several places within SAP, and this enables better control and more functionality.
  • Enhanced Component Management to allow non-Asset Components (for accessories and additional description information), non-capitalized Assets, and Capitalized Assets.  Also, added a Component Cost column for added information.
  • Enhanced Asset Tracking by expanding fields for Longitude and Latitude.  This is preparation for Google Mapping, GPS Tracking, Mobile Physical Inventory Taking, RFID, and other tracking capabilities.
  • Added the ability to delete a Retirement Transactions that has not been posted.  In addition to other uses, this is necessary for the new Rental Return functionality that auto-creates Retirement records for missing equipment.

Equipment Rental, Leasing, and Service

  • Added ‘Select’ and ‘Clear All’ buttons to the Details tab on the Rental Contract to facilitate billing the Contract detail
  • Made several enhancements to the Billing process to provide more functionality and control
  • Added the capability to auto-generate an Asset Retirement (Disposal) when an Asset is not returned from a Rental Contract.
  • Added a ‘Return All’ button to the Rental Returns form to make it easier to enter Return information
  • Added an alternative Lease accounting option on all Lease Contracts.  The new option accounts for the Lease as a Financing or Sales Lease in addition to the historic Direct Lease.
  • Expanded the number of SQL Queries and Crystal Reports

Equipment Maintenance

  • Provided the option to integrate SAP Activities with each Maintenance Work Order (MWO).  This capability provides for creating a related Activity whenever an MWO is added (from all sources), updating the MWO when the Activity changes, and updating the Activity when the MWO changes.   This also allows the new SAP 9.0 Calendar to be used to assign MWOs to Technicians.
  • Enhanced the Scheduled Maintenance facility to change the Maintenance Schedule depending on the Item used in the Maintenance Procedure.
  • Added a Related Documents tab and a Work Order History tab to the Maintenance Work Order, providing even more information about the Asset and the Work Order.
  • Added a ‘Status Promotion’ button to the MWO to make it easier to capture a Status change, as well as the date and time of the change.  This will enable the MWO to better work in a mobile access environment.
  • Added a Master MWO to provide another option for managing small Projects.  This enables several Work Orders to be linked into one common Parent Work Order for scheduling and control.
  • Added ‘Select’ and ‘Clear All’ buttons to the Items Billing tab on the Maintenance Work Order to facilitate billing the Work Order
  • Enhanced MWO Billing and billing processes to be more flexible and provide more capabilities.
  • Enhanced the MWO Maintenance Outsourcing (creating SAP Purchase Orders) to provide more functionality and control.
  • Expanded the number of SQL Queries and Crystal Reports

For more information, feel free to contact us at any time.

Why We’re Humbled and Encouraged…

ExcellenceWe receive encouragement from partners and customers along the way, but every once in a while we get a significant burst of encouragement that excites the entire team.  The latest such burst came as we were closing out last week.

At the SAP Business One Innovation Summit in Bratislava last week, B1 Fixed Assets was recognized as the Best New Industry Solution of 2013!

One of the driving tenets around here is to always, ALWAYS provide the best possible solution to our clients.  This pushes our team to work hard to deliver an equipment management solution that is far and above any other similar solution.  And that’s saying a lot when working within the SAP community.

What a tremendous honor for our entire team – development, sales, consulting, and support – who have worked hard to continuously gather new specifications, implement new ideas and requirements with precision, and work with our customers to make sure it all runs smoothly.  We’re also reminded of how grateful we are for our trusted and talented partners around the world.  They have bought in to what we’re trying to accomplish and continue to trust us with their customers.

We thank you.

Six Significant Problems with Managing Fixed Assets as Inventory

tumblr_static_logo_-_just_wrench_and_hammerWe talk a lot around here about having the right tool for the job. Using a wrench to drive a nail will certainly work, at least to a degree, but it’s definitely not the most efficient way to do it.

The issue of managing Fixed Assets as Inventory is something that has been around for quite a while. Is this the best way to manage assets, or is it just another way to manage assets? You purchase goods and/or services, or manufacture goods, and record it all in the Inventory system. One could argue that it seems easiest to have Assets go there as well.

Further, we see the convenience of keeping Item Descriptions, Serial Number tracking, and Purchase/ Manufacture History and Tracking within one application area (Inventory). The only key differences are the GL Account Number (Fixed Asset versus Inventory), and, possibly, the Warehouse. This eliminates re-keying information that was already captured during the initial purchase or manufacturing processes.

Despite these modest advantages, there are at least six disadvantages to this approach that I must address.

1. The Keyword is “Fixed”

Fundamentally, Inventory is expected to be transient, while Fixed Assets is not. Managing Fixed Assets is a much different discipline and business requirement than managing Inventory.

2. Different Purposes

Similarly, Inventory focuses on Quantities of an Item, while Fixed Assets is about a specific use of that Item.

3. Valuation Differences

Inventory revaluation is a business exception that’s typically reserved for obsolete Items, or used when the value changes drastically over a short period of time. But the value of a specific Fixed Asset can change at different points during ownership, due to completely different reasons, such as damage, improvements, etc. The accounting for these changes is vastly different and more complex with Fixed Assets. At a minimum, there must be a change to the depreciation schedule.

4. Location Issues

What if the Asset moves? Whether within the Company or between Customers (e.g. Leases and Rentals), tracking the movement both physically and financially requires precision. Inventory Systems aren’t in a place to accommodate such changes.

5. Inventory Registers

Inventory Registers that tie out to the General Ledger must account for the portion of the Inventory — specifically, the Fixed Assets portion — which really isn’t Inventory at all, and must instead be tied out to the Fixed Asset Accounts. While this can be done, it’s always better to be direct, and thereby more efficient.

6. Multiple Transactions

Many Fixed Assets are created and valued based on two or more purchase/manufacturing activities. A simple example is the acquisition of equipment that requires installation and set up. The initial purchase is one transaction followed by the installation and set-up, which can be several additional ‘related’ transactions. Once again, getting this exactly right with a Fixed Asset Management system is challenging, but it’s even more cumbersome when only using an Inventory system.

We’re proud of how powerful and useful FAMe is for our users. Even more so, we’re delighted when we hear that sense of excitement followed by, “This is so much easier!

That’s right – excitement about Fixed Assets!

So, about that wrench in your hand….

Life, Death, & MRO: How FAMe:Maintenance Keeps Medical Equipment (and you) Healthy

We hear all the time that ERP systems are important, but it’s not like life-or-death.  But for our Customers who provide Medical Services, that is not true. Properly maintaining diagnostic equipment is a matter of life-or-death — or at least avoiding serious injury.

While FAMe:Maintenance has become a key tool for SAP Business One Customers in many industries to address the maintenance of their plant and equipment, it has likewise become essential for those Customers who provide Healthcare Diagnostics.  For most diagnostic equipment, our Customers must be able to show that the equipment is properly and regularly maintained, calibrated, and in some cases certified.

One of our Customers in New York has over 50 diagnostic facilities, with equipment ranging from sonograms to nuclear imaging.  I don’t know about you, but if I need a procedure requiring anything ‘nuclear’, I prefer that it operate correctly.  In addition, they have to maintain all of those facilities.  To do this, they have hundreds of maintenance contracts (many required by Medicare) with outside providers, and an internal staff for everything else.  Knowing what requires service, when and by whom, is essential to running a safe, productive, and financially viable medical practice.  To actually do it successfully requires a fully integrated Maintenance Management System.

Using FAMe:Maintenance, which is totally integrated with Fixed Assets: Enterprise (FAMe) and SAP Business One, the Customer is now able to track and manage all of the maintenance contracts (including Vendor obligations for scheduled maintenance), manage all scheduled maintenance, and capture and resolve all unscheduled maintenance – all to ensure that the facilities and equipment are maintained and operating at the highest possible levels.  All aspects of equipment and facilities are now tracked in detail providing KPI data on usage, costs, repairs, calibrations, and maintenance schedules.  While this fully justified the investment in B1:Maintenance, as a bonus, they were able to identify how they could save over $250,000 per year on their Maintenance Contracts.

FAMe:Maintenance provides the client with the confidence that their equipment is properly maintained, tracked and financially managed.  This is key not only financially, since their equipment represents the largest line item on their balance sheet, but more importantly, for their patients, where properly maintained equipment can be a matter of life and death.

FAMe:Maintenance Helps Auto Parts Manufacturer Achieve MRO Goals

Blog - MROMaintaining your PP&E (Property, Plant and Equipment) is as much an art as it is a science.  But, nowhere else in your organization does the adage ‘knowledge is power’ more aptly apply.  For manufacturers, uptime of the plant is essential.  Failure of anything in the manufacturing process causes both down-line and ancillary disruption.  And that disruption is expensive, both operationally and financially.

No one knows this more than one of our Customers in the Auto Parts manufacturing business.  They are ISO 9000 certified, rightfully very proud of that, and dead serious about maintaining the standards and operational efficiencies that they achieve as a result.  We at B1 Fixed Assets know that overall PP&E maintenance expenses can be reduced by over 50% with a properly implemented Scheduled Maintenance plan.  And, the savings from a reliable operation are equally significant.  Our Customer doesn’t just know that – they live it.  Every day, every week.

With FAMe:Maintenance, they continue to meet their existing high standards, get the feedback they are accustomed to getting, and are confident that their operations will continue at their currently exceptional levels.  They receive Analytics like Meantime Between Failures, On-time Performance of Scheduled Maintenance, ‘Wrench-time’ for each technician / mechanic.  And, they even got a couple of huge bonuses.

First, in addition to these ‘in the past’ analytics, they have Predictive Analytics – seeing into the future based on past trends.  OLAP Cubes, Parts Inventory levels based on planned maintenance schedules, repair / replace patterns and criteria — just to name a few.  And, Process Analytics – like being informed about an Equipment Warranty, so that necessary steps can be taken to realize the chargeback.  Or, seeing an upcoming PM procedure, while processing either a repair or another PM procedure, so that the equipment can be taken offline once, not twice.

Second, prior to FAMe:Maintenance, their Plant Maintenance system was a ‘silo’ system, running separately from the rest of the Company.   Now, they have full integration with SAP Business One, its Inventory and its Financials.  They also get the 360-degree view of all Equipment by utilizing FAMe.  Not only does Plant Management see more and see deeper, but now financial managers and executives can see more and manage better.

Is it possible to improve an ISO 9000 certified operation?  Well, they just did.

Imagine the level of improvement you can realize if you are not already operating at their level.

Exciting Opportunities in 2013 Fixed Assets: Enterprise, FAMe:Rental and FAMe:Maintenance

We made it! Another year is in the books and we look forward to 2013 with anticipation of continued success for our SAP Business One community of partners. And while 2012 was a very good year for B1 Fixed Assets, primarily through the success of our Fixed Assets: Enterprise (FAMe) solution, we’re confident that our latest solutions will prove to be even more successful as we move forward.

As we ring in the new year, newly released FAMe:LeaseRental is positioned to be an elite add-on for the SAP Business One community. By filling a huge void in the current SAP B1 solution, FAMe:LeaseRental will provide multiple levels of functionality including Rental Contract Management, Delivery of Goods, Equipment Tracking, a thorough Rental Return process, Rental Analytics, and more.

Clearly a vertical solution for the SAP Business One community, we expect FAMe:Rental to not only bring new users to the table, but to also bring some existing users back to the table – all in need of an SAP caliber solution that can help them manage their Rental processes.

Utilization, efficiency, and rate maximization are tremendously important in the rental world. FAMe:LeaseRental helps users properly manage rental inventory, track costly damage repairs imposed by customers, sell additional goods and services with the rental, and ultimately maximize the profitability of each individual rental asset.

Do you have prospects or clients who:

  1. Utilize a contract to facilitate a rental process?
  2. Need a more robust system for managing their rental assets?
  3. Know they’re bleeding capital, but can’t seem to stop it?

Happy New Year!! Here’s to a most successful 2013 – together!