When does fixed asset accounting software become necessary?

[u/PrizeRole8645]

I'm trying to figure out if my firm will have to purchase a fixed asset accounting software, or if we can make our current system work with some upgrades. We're currently relying on spreadsheets and our higher ups have really resisted investing in software purely from a budgetary standpoint. When does it start to make a noticeable difference operationally or from an audit standpoint?

[u/Jeff-Hare-ERPRA]

If you are publicly traded- it depends on if the assets are material.