Fixed Assets Verification
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.
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.
Our value differentiators
- Customised development of a fixed assets management tool to fit your requirement
- Our knowledge of best practices for fixed assets management, given our experience of similar engagements with multiple clients across different sectors
- Dedicated team of technical, accounting and sector professionals
- Ability to execute the mandate across India with support from local associates – trained professionals spread across major cities in India to verify and ascertain the stock of your assets at different location