The McClatchy Company is a publicly traded newspaper corporation headquartered in Sacramento, California. Currently, it owns twenty-three daily and community newspapers, including the Minneapolis Star Tribune. In the very near future, the acquisition of the Knight-Ridder newspaper group will be finalized, nearly tripling the company’s size. The Minneapolis Star Tribune will remain the largest newspaper and the Miami Herald will be the second largest in the group.
Upon acquiring Knight-Ridder, McClatchy’s fixed assets value will increase to nearly $2.5 billion. Vital to the company’s success is the ability to account for all that property at so many sites. Fixed assets accountant Ted Norris is in charge of the three year inventory cycle, making four onsite visits annually. With so much money invested in assets, McClatchy needed an enterprise fixed assets system.
Ten years ago, Ted Norris did an extensive search for tracking software. He remembers choosing IntelliTrack because of its flexible database engine, as well as its reasonable price.
Before using a barcode system, the company was using aluminum asset tags and cataloging everything manually.
Now, every fixed asset is tracked by IntelliTrack Fixed Assets. Even items like land, buildings, and software are given tags that are kept in a binder so they too can be tracked.
IntelliTrack Fixed Assets saves a great deal of time. Ted said, “Under the manual system I would have to spend an additional week or more reconciling unrecorded asset transfers and another large amount of time creating asset retirement transactions. But now, before finishing an onsite inventory visit, I am able to provide a listing of assets not found and an estimated NBV or loss on disposal. IntelliTrack reconciliations are part of the scanning process and asset retirements are created by a query using a specially created report based on IntelliTrack’s asset not found list.”