All companies create forward-looking plans to prepare for the future, aligning corporate resources—people and dollars—against strategies that leverage competitive market advantage. Through collaborative planning, departments coordinate and allocate the capital expenses required to augment the organization's capacity.
Capital Asset Planning helps manage and prioritize capital expenses during budgeting and planning. With Capital Asset Planning, you can manage existing assets and plan for capital expenses such as asset purchases. You can also:
Perform driver-based calculations to assess the impact of changes and additions on profit, cash flow, and funding
Request and approve capital expense plans with appropriate justification
Capital Asset Planning assists with tasks such as planning for transfers and related expenses, improvements, impairments, retirements, replacements, and financial impact. It also helps corporate planners consolidate plans, prepare reports on capital expenses, and iterate plans to respond to changing conditions.