Fixed asset management from purchase to disposal

Keeping your assets productive and valuable throughout their life

Asset management means tracking the condition, performance, and value of every asset from the day it is purchased until it is retired, so it is ready to work when you need it.

It matters most for organizations with many or high-value assets, such as contracting, manufacturing, and oil and gas. For them, an Enterprise Asset Management (EAM) system is necessary to control costs and meet compliance requirements.

Without a clear system, repair and maintenance costs rise, information about asset condition gets lost, and it becomes hard to know what the company owns and where it is.

Tranquil brings all of this into one system that gives you a complete picture of your assets at any time.

From manual records to one accurate register

Manual records are slow and prone to duplicate entries, lost information, and data-entry mistakes. They can be manipulated, and they need someone to update them every time something changes. Tranquil gives you:

• Higher data accuracy and fewer human errors
• One register for all assets instead of searching through scattered files
• A complete profile for each asset, including manuals, warranties, maintenance dates, repairs, breakdowns, and transfers
• Time saved for your team by automating repetitive manual work
• Asset information shared with the departments that need it
• Alerts for scheduled maintenance and inspections before breakdowns stop production

Know where every asset is and who is responsible for it

Equipment moves constantly within an organization. Tranquil records every transfer with its date, reason, and the person responsible for the asset. Examples:

• Between locations: moving a bulldozer from one site to another when a new project starts
• Between departments: moving computers from HR to Accounting
• Between custodians: handing a concrete mixer to a new employee after the previous one is promoted or retires

No asset goes missing, and responsibility stays clear.

A complete record for every asset from purchase to disposal

• Purchase: record the new asset's details, warranty period, and suggested maintenance dates.
• Damage: document assets that have been damaged beyond use, along with the incident record.
• Sale and disposal: record the sale of an asset at the end of its useful life, or when it is damaged, obsolete, or replaced. You will know what needs replacing and how much value you recovered.
• Depreciation: calculate annual depreciation automatically, in line with tax regulations and accounting standards.
• Revaluation: update an asset's value based on market prices, especially for real estate and high-value equipment, so your books reflect its actual value.

A clear structure that makes thousands of assets easy to manage

Fixed assets fall into two groups:

• Tangible: equipment, machinery, furniture, vehicles, and real estate.
• Intangible: goodwill, patents, licenses, and trademarks.

Tranquil organizes assets in three levels: asset type, then category, then the individual asset.

• Types and categories that fit your business: classify an asset as equipment, a workstation, or a vehicle, then place it in categories such as laptops, printers, heavy vehicles, and buses.
• Parent and sub-categories: a category tree that mirrors your organization, with consolidated reports at every level.
• Depreciation and accounts per category: each category has its own depreciation method and ledger accounts, so entries post automatically.
• Custom attributes and automatic numbering: define each category's attributes in English and Arabic, and every new asset is numbered automatically with its own prefix.

Divide your tangible assets to simplify maintenance and tracking

• Electronic equipment: laptops, desktops, printers, and servers.
• Production equipment: extrusion machines, molds, concrete mixers, and heavy machinery.
• Real estate: warehouses, factories, offices, and land.
• Office equipment: furniture, fixtures, and software licenses.
• Inventory: raw materials, components, work in progress, and finished goods.

Maintenance on time, before work stops

Track the condition of every asset and schedule its maintenance at the right time to improve efficiency and extend its useful life. Tranquil helps you:

• Avoid sudden breakdowns, production stoppages, and costly emergency repairs
• Keep production and workflows running without interruption
• Keep a detailed record of every maintenance job, repair, and inspection