Our Observations & Recommendations Guide on our past assignments remained a yardstick for many Organizations to chalk out affective Policies on their Fixed Assets and its day to day management right form its procurement till its disposal.

Right from gathering all relevant documents and after compile the same in to useful formats and tables, we scrutinize its contents for accuracy and exclusivity; through this vigorous process we are able to establish details like; missing and omissions in the documents submitted also convey our clients of the gaps; i.e. detailed Analysis; BOQ Vs Final Payment Certificate Vs Purchase Orders Vs Contracts & Invoice – thought this process we are able to identify the documents and list them for inclusion in to the FA Register.

Also the FA Register clearly classifies Tangible, In tangible, Taggable, Non Taggable Assets including all information relating to MEP/Loose Assets which contributes major chunk of your costs. Large pool of MEP Assets are managed through our QR Code Convention which is an integral part of your Asset Register. The tagging of MEP Assets are segregated to taggable or non taggable either on the basis of its cost or on the basis of its type and size including the maintenance requirements from time to time.

The most updated, reconciled, accurate FA Register could be accessed by all stake holders; The Owners Representative, Projects, Engineering, Facility Management, Procurement, IT and Finance Departments, subjected to access rights set for each of them- Including by and for the Operators. The general practice followed has many flaws; The FA Register helps you to understand the types and gross/net book value of your capital assets at group/bloc level, but are unbale to determine the quantity and size of your Fixed Assets since they are not accounted individually and custodian and location details are unknown- same is the case with their individual movements ( acquisition, transfer, disposal etc. ) while it is important that the users should be able to identify the parent and child assets and manage them effectively in their day to day movement- which is not the case in general. Also each Department maintain their own data to manage and report them – but the type of information always remained in complete and different – utilizing our expertise, we streamline the whole process to make it a single referral document that could be used by the stake holders on daily basis.

PREPARATION OF FRESH OR REVISED FIXED ASSET REGISTER & VARIANCE REPORTING:

The verification and tagging tasks become meaningful only if we are able to compare the results of the tagging with the existing information available with the client in the form of their existing FA Register. In general, the FA Register have its information available at group level and after the tagging process we help the client to match/index and allocate individual costs and details to their Fresh or existing Register.

This will help the client to RE DO THEIR FA REGISTER by segregating the Assets in to different types; Taggable, Non Taggable, Intangible/CAPEX and Operating Inventory Items. Subsequent to tagging, it is important to ensure that the Asset Tracking Solution generate with a VARIANCE REPORT - The report shows the quantitative variance in relation with client’s procurement data. Further item wise review is required to determine the reasons/cause of VARIANCE – the item lines in the VARIANCE REPORT shall separately be provided to the Client for its Inclusion in to the FA Register and or for its Removal/Retirement; for new properties the VARIANCE is mainly due to non submittal of complete procurement details; Purchase Orders, Commercial contracts/Invoices, variation order/provisional sum etc. We are equipped with an In house Team of Subject Matter Expert) that consists of Project Management/Tagging experts, Software Developers and professionally qualified Auditors who all work hand in hand to share their relevant experience in delivering the best possible results- which is a UNIQUE SERVICE we offer. What is important in doing reconciliation and on preparation of FA Register is the knowledge they possess in the area of Fixed Asset Management compounded with updated knowledge with INTERNATIONAL