25000+
CODE LINES THIS MONTH
150+
LOCATIONS AUDITED
9900+
ASSETS AUDITED SO FAR
180+
REVIEWS AND RATINGS
Best Inventorymanagement software
T (91) 97690 22209, (91) 75066 00517, (+91) 22-66930155
Email: contact@itassetmanagement.in
Greenitco
322, IT Park, MasterMind 1, Goregaon East Mumbai
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01
step 1
Physically verify all Assets, first step to check the existing data and verify the assets physically from wall to wall
02
step 2
Integrate the audited data in any asset management software in which asset history can maintain
03
Step 3
Asset Bar-coding Barcode each asset to verify the data
04
Step 4
Cross verify Finance report and classification of the asset
05
Step 5
Find opportunities for cost and asset optimization
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.
Fixed Asset Physical Verification and Tagging entails the following activities
- Comprehensive and complete physical verification exercise of all the organizations Fixed Assets.
- Physical identification (floor to book & book to floor) and labelling of the assets with special bar coded labels.
- Capturing of the following Fixed Assets information electronically:
- Barcode number
- Description
- Location
- Fixed Asset Classes
- Departments and Cost Centre’s
- Serial numbers
- Matching of the output of the verification exercise with existing records. A process of linking the asset values in the existing records and the assets tagged at each location is carried out.
This exercise helps keep track of the correct value of assets, which allows the 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 is less, but for corporate having a 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
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- Automation in the verification process.
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- Tracking of asset movement.
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- Reliable and accurate verification.
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- Individual identity of each asset.
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- Locating an asset becomes easy.
- Reduced time and efforts in asset verification significantly.
Benefits of Asset Verification Tagging
- Identify owned assets quickly and easily with visual inspection.
- Track serial or model numbers efficiently with barcode stickers.
- Save time and money in duplication of assets between departments.
- Increased security with regular tracking & monitoring.
- Reduction of theft with visual identification of assets with security labels.
- Monitor asset movement between locations.
- Compliance with insurance or government regulations.
- Track the useful life of assets and depreciation schedules.
- Schedule maintenance, service and replacement of owned assets.
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.
- Advising the best possible way of arranging inventory
- Advising on storage arrangements, to protect against deterioration
- Identification of WIP, including the stage of completion
- Improvement areas of IT & Admin
Depreciation as per Companies Act 2013 & IT Act
ITM helps organisations to calculate depreciation as per the New Companies Act 2013 & Income Tax Act. We have a large panel of experts to track all the changes in rules and validate before it is released to subscribers.
Custom Compliances
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.
Internal or Professional Audits
With ITM, audits are efficient and optimal. ITM offers up to five levels of locationbased 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
- Income tax Act Book
- Companies Act 2013 Book
- Capital Work In Progress (CWIP)
- ISO 27001 Asset Handling and Labelling Policy
- Cargo Compliance
- CFR Compliance
- OCC Regulation 12 CFR 9, Clause 4(i)
- Section 16AB of the Audit Act 1994-Melbourne
- ISO 50001
Hardware
From servers to network and from phones to tablets. We have more than 100+ partners across the globe to serve you at your doorstep. Don't worry if you are an individual customer or multinational firm, we provide free support to everyone.
- Server Repair
- Desktops
- Laptops
- Tablets
- Smart Phones
- Network Devices
- Firewall
- Routers
- Camera
Software Licenses
You are a developer or designer if need help to sort your problem or even if you are technology lover to learn something new. Call us!
- Application Error
- Operating System
- Presentation Problem
- Software Installation
- Data Loss
- Security Issue
Physical Assets
Need help related to your site or don't know how to track or read statistics. We are there to serve you in every front
- Physical Building
- Machinery
- Furniture
- Stocks
- Vehicles
ASSET-AUDITING
Asset Management & Physical asset auditing service
Asset verification and auditing are 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. Fixed Asset Auditing 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:
- Cost optimization
- Business discipline
- ESOP
- Merger or Acquisition
- Public Listing
- Compliance requirement (OCC Regulation 12 CFR 9, US GAAP Clause 4(i) of CARO, IT ACT 2008, Section 16AB of the Audit Act 1994-Melbourne)
- Best Practices
- ISO 27001:2013 Asset handling and labelling policy
- ISO 50001 Asset management
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 handheld terminals and tablets with preloaded software for your own rollout 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.
Asset Auditing using Mobile
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:
- Take a headache out of internal inventories and audits
- Discuss your requirements and consider what’s best for your budget & circumstances
- Demonstrate a practical system of tags, scanners and software communicating in real time at your premises, or by webinar
- Tag & log asset details, creating an initial asset register, clean existing data and check for consistency
- Offer an optional replacement value service for insurance and balance sheet purposes
- Supply hardware and generic or custom labels for your complete solution
- Import your data and set up each user’s access to the online program
- Train key staff in all aspects
- Provide technical support or make further visits if needed
- Display the location and status of any item you own
- Build a lifetime picture of maintenance records and responsibilities
- Keep your asset information highly secure, backed up to ISO27001 standards
- Facilitate continuing management and ensure you stay compliant with industry regulations
- Cost saving opportunity report
- Alternative solutions and best practices report
Read more on NextMegabyte & Understanding Asset auditing