Organizations small, medium or large make recurring investments for their operations, while raising a considerable exposure to accumulating fixed assets over time. Not realizing the value they have in the form of fixed assets, therefore face problems maintaining appropriate records of the fixed assets they own, manage, and secure.
Property Management, and Vehicle Management, have also been implemented within the ambit of the same solution.
Issues may arise at any juncture of the fixed assets lifecycle, that involves procurement, accounting, maintenance, tracking, transfers, and disposals.
Generally, subsequent audits and physical verifications of the assets prove to be tedious, hence unsatisfactory. Ipso facto, the lack of an effective monitoring and internal control system, raises the following risks:
Effective supplier management for the quality of assets
Asset lifecycle cost attributed to its evolution within the organization
Value of assets overstated or understated
Misappropriation of assets due to theft or unnecessary damages
Error in the computation of gain or loss on disposal of assets
Incorrect tagging & tracking of the asset with the financial records
Tracking of asset maintenance, recurring costs, utility expenses
Recording impact on the overall cost of the asset
Scheduling maintenance and downtimes for assets
Recording suppliers, or third part contractor information & communication
Risks of assets not being physically present, as per financial records
Inappropriate cost allocation to business or departments, due to subsequent transfers, and disposal of the assets
Existence of damaged, and ghost assets in the fixed asset ledger, resulting in unnecessary payments of insurance premiums
It is imperative to have a comprehensive solution in place, that helps organizations clearly track and identify the value of their assets, against those that are not required, hence overwhelming the cost of business.
Our experience covers streamlining banks, oil & gas, energy distributors, aviation, telcos, port management facilities, construction, and retail industry.
Scenarios have varied from providing turnkey to integrated solutions, depending on the organizations existing capabilities.
As per our approach, the current architecture plays an instrumental role in understanding the position of the organization in managing fixed assets, and assets sold or leased to customers under warranty.
Our focus is to gain maximum value from the investments an organization makes into fixed assets, and retaining them for customer satisfaction.
Considering your retail sales under warranty as assets as well, whereby claims processing, warranty management, and returns processing, are inherent.
A few aspect, but no limited to:
Automate event triggers and notifications
Capture details of asset requiring attention
Initiating service requests to internal and external teams
Roping vendors & suppliers based on their warranties
Track Assets Movement, and allocate them to cost centres
Send appraisal assignments to any shop—even if they’re not in your network
Assets disposal based on their lifecycles.
Streamline the supplement process.
Communicate efficiently with your direct repair shops
Contact us for more details ..
A seasoned approach that we undertake to deliver:
Supply Side Architecture
Reengineer, Innovate & Analyze
Demand Side Architecture
Implement & Train
Support & Improve