Introducing Fixed asset verification services
Physical Asset Verification
Tagging/ Labelling of Assets
Barcode/ QR Code/ RFID etc. based tagging/labelling solutions to ensure better faster recurring verifications.
- Passive tracking with barcode, QR-Code labels
- Active tracking with RFID and BLE labels
- Standardized or customizable asset label designs
- Tag reconciliation for high data accuracy
- Paper, vinyl, metal, cloth, Ceramic tags material for different asset types
- Lamination or chemical treatment for enhanced tag life and readability
Mapping & Reconciliation
Matching of Physically Verified Assets with Book records.
- Physical inventory mapping to financial records
- Multi-level, multi-logic, multi-parameter data mapping
- Notional mapping for non-taggable and non-verifiable assets
- Classification of mapped, unidentified and additional assets
- Manual or automated data reconciliation options
- 2-stage reconciliation process for lower discrepancies
Providing Software Support for preparing data as per client-owned software (or) suggest FAM software to streamline your day-to-day asset management.
- Advisory on right Enterprise asset management software
- Data preparation and transformation support
- Software implementation support
- On-premises, On-Cloud, SaaS solutions
- Integration with source systems, hardware devices and 3rdparty applications
Training & SOP Documentation
Preparing SOP Documentation tailored to the organization’s requirements & training of client staff to put better check & balances in place.
- Understanding existing processes, structures
- Analyzing department wise requirements
- Analyzing risks and challenges
- Preparing tailored SOP documentation
- Staff training for adherence to SOPs
Reporting & Support
Preparation of reports as per the formats specified or desired by your auditors/stakeholders.
- Data capture & reporting in pre-agreed standardized formats
- Comprehensive final reports with approach, summary and observations
- Data annexures to support final figures and observations
- Reporting supported by asset verification data capture sheets with department sign-offs
Standard scope of Fixed asset verification services
- Physical assets verification in accordance with the compliances.
- FAR Review, approach finalization & resource Mobilization.
- Suggesting intelligent coding schema & designing of labels.
- Matching of physical assets with financial records & preparation of Gap report.
- Support w.r.t upload of FAR into software/ suggesting software based on “Best Value” concept
Standard deliverables of Fixed asset verification services
- Verified and tagged assets
- Physically verified asset register in the agreed format.
- Reconciled & cleaned up FAR
- Detailed Project & Gap Report
- SOP & Support
Hardware & Stationery
RFID handheld scanners
RFID fixed scanners
Paper / Polyester labels
VOID / Vinyl labels
Bluetooth BLE tags
Do you need a Fixed asset verification services?
Yes, if you face any of the following challenges;
Not having up-to-date and accurate information of all your fixed assets.
Assets on-the-ground do not match with those in your books.
No easy way of identification and mapping assets records.
Assets not being utilized optimally and bottom line being impacted by ghost assets.
Incorrect mapping of Capitaland revenue expenses and not having accurate FAR for compliances.
Difficulty in ensuring process controls and Unwanted procurement of new assets.
How does a Fixed asset verification service help?
Increased efficiency, better allocation & utilization of your existing assets.
Ability to better manage assets in the future.
Improved visibility and simplified audits and report processes
Improved asset life span with due to increased visibility on the condition of assets, in-time maintenance, and replacement
Real-Time Tracking, prevent theft & pilferage, equipment failure, down-time
Faster Recurring Inventories due to labelling of assets
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