MEP Facility Management

The CMMS, which the maintenance teams use to organize operations, is mainly accessed by other departments, including the finance department. The finance department requires access to the software for tax purposes and bookkeeping. Through the CMMS, tax and accounting specialists review major and minor repairs made to capital assets. Minor repairs are deducted immediately, while major repairs or improvements are depreciated over time.

MEP Facility Management

After data is retrieved from the CMMS, the finance team retrieves data from other software systems, such as enterprise asset management (EAM) software. Using two separate systems - one for tracking repairs and another for tracking the value of assets over time - could be more efficient. The CMMS allows companies to store all asset-related data in one place, with features such as depreciation tracking to improve efficiency.

Benefits of Tracking Asset Depreciation in CMMS

Eliminating the redundant data entry

Asset managers can log data once in the CMMS rather than entering the same data in multiple systems such as EAM software, ERP software, and accounting software like QuickBooks. The CMMS then syncs with these other systems. For example, the maintenance team logs the parts and cost data in the CMMS when a major repair is completed on an asset. Instead of the asset manager emailing the finance team about the repair, the CMMS can automatically send the information to QuickBooks.

It aligns finances and the maintenance teams

Since depreciation is an allocation process and not a valuation process, the maintenance team can align better with the accounting team when there is bookkeeping data in the CMMS.

‍There is a reduction of expenses with less software

In addition to EAM, some customers use CMMS software, even though it often includes asset-specific features such as warranty tracking, downtime tracking, and depreciation tracking. Having two systems with overlapping features can be expensive and inefficient, so it is often considered irresponsible to use both CMMS and EAM software.

Below is the way to track asset depreciation in CMMS

  • Purchase price: the amount paid to acquire the asset.
  • Residual price: the asset's worth at the end of its useful life or how much it can be sold for (also known as salvage value).
  • Useful life: the length of time the asset is expected to help the organization create a product and generate revenue.
  • Placed-in-service date: the date the asset is initially activated in the facility.

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What Do Our Clients Says ?

Amrapali Exports - Esteemed Clients of cryotos
Anuraj Sharma - Maintenance Manager

The best thing about Cryotos CMMS software is that it always tells me when something needs to be fixed - before it breaks and cost me a fortune!

The software is very user-friendly, and even if I don't know how to do something, the support team is always there to help me out.

Most importantly, unlike other such software, Cryotos is editable and hence the user can modify how the software works as per their need, we made several changes in the workflow & flowchart with the help of development team.

I don't know what I would do without Cryotos! I've been using it for years, and it has saved me so much time and money. I highly recommend it to anyone who wants to manage their assets efficiently.

Resil Chemicals - Esteemed Clients of Cryotos
Jeevan Belliappa - Head, Information Technology

Since we've been using Cryotos CMMS Software, our asset maintenance management has been running more smoothly than ever. We're able to track and optimize our preventive maintenance with ease, thanks to the customized process workflow. This has been a lifesaver for our team!

The Cryotos CMMS software has allowed us to manage our assets more effectively and efficiently. It has helped us to improve our asset utilization. The software is user-friendly and easy to navigate, and the support team is always quick to help with any questions we have. We're very happy with the results we've seen so far and we're confident that we'll continue to see improvements in our asset management as we use the Cryotos CMMS software.

Planys - Cryotos Esteemed Client
Antony Jacob Ashish - Lead, R&D

Cryotos goes above and beyond when it comes to customer satisfaction. Planys Technologies use Cryotos for preventive/ corrective maintenance of our critical systems and not once did we face a problem that was not dealt with immediately. The team is extremely professional and helpful. We can rely on Cryotos when it comes to the operations and processes.

Thanks to the whole team for the amazing performance and thought leadership. It's rare to see teams that can put themselves in the customer's shoes and think from their perspectives - Cryotos team doesthat and more.

We recommend Cryotos if you are looking to put an end to your preventive maintenance problems and sign up with them!

Thanks to the team for an awesome job.

Xpert IFM - Esteemed Clients of Cryotos
Siva Shankar - AGM, (Operations & BD)

On behalf of Xpert FMS we would like to express our sincere appreciation for the excellent support Cryotos team have provided us for our building and facility management. Cryotos has always provided support that is timely and meets our expectations. Professionalism and quick response are the hallmarks of this team.

Sincere appreciation for the team's brilliant performance and wish them continued success. We highly recommend Cryotos as they have executed well on all assigned tasks and continue to outperform.

Thanks to all the hard work, our lives have become easier.

ST Jude India Childcare Centers - Cryotos Esteemed Client
Mukesh J - CIO

We are able to raised the workorder and tracking of these till the closure as helped us to provide better services our beneficiaries. Workflow-based work order management has helped us to define processes for each locations separatley. System provide notification once order is raised for assignment to engineer.

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