MARITIME ASSET MANAGEMENT
Efficient, compliant, and comprehensive asset
management tailored to the maritime industry
smartPAL’s Fixed Assets module is designed to streamline and enhance asset management across the maritime industry. The platform offers a comprehensive approach to tracking, depreciating, and maintaining your fleet’s assets, ensuring compliance and efficiency.
Maintain fixed asset registry
Perform transactions (depreciations and revaluations)
Generate and post accounting entries
Access comprehensive reporting tools
Lease asset management
Accurate Asset Tracking: Ensures real-time and precise monitoring of all assets, while enhancing operational efficiency and reducing losses
Automated Depreciation Calculations: Simplify the process by automatically calculating depreciation, saving time, and minimizing errors
Enhanced Financial Reporting: Provides comprehensive and detailed reports, improving financial transparency and aiding in compliance
Compliance with IFRS 16: Ensures that asset management practices align with international financial reporting standards, reducing regulatory risks
Improved Decision Making: Facilitated by providing accurate and timely asset information, supporting strategic planning and resource allocation
Frequently Asked Questions
A maritime-focused asset management solution, the smartPAL Fixed Assets module precisely tracks, depreciates, and reports owned and leased assets in accordance with international financial reporting standards, guaranteeing IFRS 16 compliance.
For finance teams overseeing sizable fleets, smartPAL saves time by automating depreciation computations across several asset classes, guaranteeing accuracy, consistency, and a decrease in human error.
To maintain accurate financial records, the system automatically revalues, disposes of, and adjusts assets. It also creates and posts accounting entries straight to the General Ledger.
To ensure real-time asset visibility and control, the Fixed Asset Registry keeps an exhaustive record of every asset's cost, location, ownership, acquisition date, useful life, and depreciation status.
In order to guarantee complete IFRS 16 lease accounting compliance for maritime businesses, the module contains lease asset management tools that automate lease tracking, valuation, and amortization.
In order to improve financial transparency and decision-making, smartPAL provides extensive reporting and analytical tools for asset valuations, lease schedules, revaluation reports, and depreciation summaries.
smartPAL improves operational efficiency, lowers financial losses, and minimizes asset misuse or misplacement by offering real-time visibility into asset performance and value.
Yes. The module's smooth integration with Procurement, Accounts, and Maintenance allows for automated data exchange for asset updates related to capitalization, acquisitions, and maintenance.
In order to accurately update the asset's book value and lifecycle status within the system, users can carry out disposals, transfers, revaluations, additions, and adjustments.
smartPAL's digitalization of asset management offers precise, up-to-date asset data, which supports long-term financial strategy and improves capital planning, resource allocation, and budgeting.
