Procede Software on Tuesday announced the launch of Excede Asset Management. Building on the strong foundation in the Excede DMS accounting module, Procede says Asset Management enables dealership finance and accounting staff to manage vehicle depreciation, note payments, and expense amortization within the system, and eliminates the use of manual processes and spreadsheets to support these activities.
The solution reflects Procede Software’s ongoing commitment to adding value by extending the capabilities of the business system and its functionality — without adding costs to the dealerships.
Procede says key functionality in the Excede Asset Management application includes:
- Depreciation: Manage vehicle depreciation as a single entry or by module, and automatically track book value and accumulated depreciation.
- Note Payment Support: Manage monthly debit/credit accounts automatically once loan documentation is entered.
- Amortization: Set up an originating journal entry, link to it in the application, and once entered, Asset Management will apply the setup to all vehicles in the originating journal entry.
“At Procede Software, we are committed to delivering greater value to our customers without adding costs, by developing features and enhancements that help dealerships of all sizes run more efficiently and effectively,” says CEO Larry Kettler. “Excede Asset Management extends the capabilities of Excede DMS by simplifying and streamlining complex finance and accounting processes, which is just one of the many ways we listen to our customers and develop innovative solutions across the entire platform.”
The application was developed in close collaboration with more than a dozen finance and accounting teams across a broad range of commercial vehicle dealerships and was beta tested and piloted by participants in the Excede Insider Program, Procede says.
“As we worked with our customers and listened to their needs, we heard that being able to accomplish these critical processes within the Excede DMS system would save time, increase accuracy, and help them more closely manage these areas,” says Mark Calkins, Senior Product Manager. “Because every dealership is different, we built flexibility into the system that enables them to optimize performance based on their unique practices.”
“Asset Management is a powerful software solution that is helping to simplify our workflow as well as increase productivity and efficiency within our department. Everything from tracking note payments and posting interest charges, to posting our monthly depreciation expenses, is being revolutionized utilizing this new solution,” adds Jared Stigler, Leasing Manager at TAG Truck Center/Lonestar Truck Group.
Additionally, Procede notes Asset Management is fully integrated with Excede Accounting and can be run as a standalone browser application or be embedded within Excede DMS.