Asset Manager: Capture Every Expense

Capture all of the spending associated with assets, including repair costs like parts and labor, by integrating asset management with your procurement software solution. Tap into life cycle cost information to buy smarter in the future with this important extension of purchasing.

Webinar: eProcurement and asset management


Verian’s asset management solution:

  • Automates asset receipt records
  • Ties work order costs to specific assets
  • Tracks warranty or service contracts
  • Identifies asset location and condition
  • Tracks depreciation and salvage value
  • Helps forecast replacement costs


Collecting all of this information in your procurement software solution allows you to assess spending beyond purchase prices, to understand total cost of ownership, and to simplify asset management processes by:

  • Tracking maintenance spending and depreciation across the entire lifetime of assets
  • Buying smarter by conducting value comparisons when purchasing new assets
  • Managing service contracts, warranties, repair histories, and location/ownership of assets in the eProcurement system
  • Charging accurate amounts to proper GL codes when assets are transferred between cost centers or from inventory
  • Planning future budgets by knowing when assets will be retired
  • Seeing availability of unused assets instead of buying new ones

Asset Lifecycle Management: Knowing exactly how much it costs to own.

By tracking every dime you spend to keep assets running effectively using purchasing management software, you know exactly how much it costs beyond the purchase price to own particular pieces of equipment. This helps you know the true value of each asset, as well as the best warranties and service contracts. When you make new purchases you know what gave you the most bang for your buck.

Whitepaper: procurement software for purchasing and invoicing automation

At Verian, our mission is to make people’s lives easier and their work more valuable. As part of the Basware family, we accomplish this by offering market-leading networked Purchase-to-Pay solutions, e-invoicing, and innovative financing services. As the largest open business network in the world, we connect businesses in over 100 countries and territories around the globe, enabling them to grow and unlock value across their operations. Small and large companies around the world achieve visibility and control over spending, significant cost savings, more flexible payment terms, greater efficiencies and closer relationships with their suppliers by simplifying and streamlining financial processes.