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ITM provides Fixed Asset Verification & Tagging Services to organizations across all industries as the first step to implement Enterprise Asset Management.
This helps in knowing exactly what assets you currently have, where these assets are located and how these assets are changing over time, and allows a company to keep track of details of each fixed asset, ensuring control and preventing misappropriation of assets.
This exercise helps keep track of the correct value of assets, which allows for computation of depreciation and taxes for insurance purposes while ensuring compliance with corporate and government policies. The use of bar-coding technology makes asset verification simple and efficient. The exercise also helps to clean up the asset register of any disposals or movements that may not have been captured in the books and by giving up to date records of the asset.
We tag each asset and identify the improvement area. We can use your existing tags as well as add our tagging system for the verification.
Verifying assets manually could be efficient if the number of assets are less, but for corporate having large number of assets at diverse locations, verifying the assets manually becomes error-prone and inefficient. Tagging the asset with a bar-code, NFC or RFID tag can bring in efficiency by ensuring
Audit is an area of specialization and core competence for ITM. Internal Audit Services are our best because of our unparalleled reach and all India network. Assets e.g. Stocks and physical assets such as raw materials are important real assets and need repeat watch. As a large number of companies are operating across the borders through multiple locations, some even with various channel partners, ensuring this watch is challenge. We offer our focused services to companies to keep them assured of their physical assets.
Our special Audit team follows a strict audit and reporting mechanism that strives for best and makes sure that each minute aspect of stocks is evaluated and findings are reported in a transparent manner to levels concerned. Audits are also undertaken for banks and other financial institutions which have extended credit to businesses against physical goods and assets. We have big enough network throughout India for quick and simultaneous audits at multiple locations.
ITM helps organisations to calculate depreciation as per New Companies Act 2013 & Income Tax Act. We have a large panel of experts to track change in rules and validate before it is released to subscribers.
With ITM, you can create any compliance reporting formats such as IFRS, GAAP Accounting or any other international jurisdiction compliance reports. Creation and Management of compliance reports have never been more simple.
With ITM, audits are efficient and optimal. ITM offers up to five levels of location based Asset lists to perform audits & minimizes errors. Scan online or use the interface on a mobile device to perform audits in one go.
Following Act are required asset management
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Asset Management & Physical asset auditing service
Asset verification and auditing is critical and mandatory as per compliance. Whether your assets are fixed or movable they can be managed much more efficiently in a paper free environment. Auditing fixed assets is extremely important to ensure that accounting for capital assets and depreciation is in compliance with management’s objectives. Physical asset auditing is needed due to:
ITM along with Nextmegabyte delivers a professional range of services. We’re here to help you keep track of every asset you manage, whether movable property or mechanical and electrical fixtures and fittings. From supplying hand held terminals and tablets with preloaded software for your own roll out, to a bespoke service with onsite training or custom reports, or an off the shelf program. We make sure you get the most appropriate solution for your needs.
Working together, you can manage your assets much more efficiently. This includes making the data visible by site, category, or room, along with many other categories and options, and accessible 24/7 from anywhere.
We deliver a professional range of services to: