Spreadsheets - they're quite rightly the first port of call when trying to record any data in a simple, tabular form. Although they are not really good enough for our uses, we still manage to put up with them. No doubt the reason for this is because we would rather use a free package that came with our PC, instead of buying a new one that's more suitable for the job.

Even though spreadsheets come with a number of problems, they do have some useful features. The major ones are that they are able to create simple calculations, create graphics and manage your business forecasts. They all prove to be useful at some point in time. However, because of the amount of downsides they have, they aren't useful for tasks like tracking your companies' tangible assets.

Although spreadsheets sound like they would be good for storing company asset data, they are simply not as advanced as an asset tracking software package.

To a certain extent, a spreadsheet is useful for asset management, however, as you increase the amount of assets your company has and the amount of data you want to store, they become useless.

Here are some features you should look out for when buying an asset management software suite.

• It should be able to hold enough data and in enough detail as you need it to. Even though the amount of data a spreadsheet can store is enough for some tasks, in asset management it tends not to be. The data that's stored may not provide enough detail.
• They must be able to match the complex structure of the company. If there is an asset that can be placed in a number of categories within a business, a simple spreadsheet will not be able to reflect this complex structure.
• It should be flexible enough to be restructed quickly a easily. Altering the structure and data of a spreadsheet is easy, but once it becomes complex, the task automatically becomes difficult.
• They must be able to manage different price depreciation levels on seperate items. If different assets had been bought at different stages, but they were connected, like a computer and a keyboard. The management software should be able to handle multiple depreciation levels.
• They should be able to manage re-lifeing of company assets. If an asset is re-assed and is found to be of use, the depreciation level on the item must be altered.
• The software should be able to create structured data reports. It's not easy to create a structured data report using a spreadsheet.

Those were just a few of the points that a specifically designed asset management software package must include. Plus it's why a standard spreadsheet package is not suitable for storing company asset data and adding the data to a asset inventory.