Fixed Assets Verification

Relevance

Fixed assets generally constitute 45–50% of the total assets of any auto ancillary.

Due to frequent changes in laws and standards, it is critical to maintain an accurate record

of your fixed assets; without one, the accuracy and reliability of fixed assets accounting

cannot be ensured. However, the task of physical verification of fixed assets is challenging

and time consuming.

Distinctive challenges faced by organisations are driving them to opt automated processes.

The effective management of fixed assets requires periodic physical verification, tagging

of assets and consistent processes for fixed assets management. The automation of the

fixed assets management process helps in resolving operational challenges.

Typical challenges faced by organisations

How can we help

Our multidisciplinary team of accounting and technology professionals carry extensive knowledge of best practices in fixed assets management.

Moreover, given our experience of similar engagements with multiple clients across different sectors, we have the unique ability to provide end-to-end fixed assets management solutions.

Physical verification

Our teams physically inspect and verify the existence, location, condition, and quantity of an organization's fixed assets and reconcile with the organization’s fixed assets register.

Tagging (Bar code)

This process involves applying physical tags to individual assets with a unique identification number or label, typically barcodes or QR codes.

Asset movement

Our technology solution enables on-going monitoring of asset movements during the year across departments using workflows.

Policy framework

We also help develop fixed asset management process and policy framework with RACI mapping and enablers.