23

Sep

ASSET VERIFICATION

ASSET VERIFICATION AND TAGGING

There is no room for error when you need a precise picture of your company’s physical assets. Knowing exactly what assets you currently have, where these assets are located and how these assets are changing over time, allows a company to keep track of details of each fixed asset, ensuring control and preventing misappropriation of assets.

 

Asset categories

Movable Assets: Movable assets are assets that are either not affixed to a building, or are fixed to a building, but not permanently affixed, can be removed without costly or extensive alterations or repairs to the building, and can be used after removal.

Examples of movable assets include furniture and equipment that are easy to move from one building to another.

Immovable Assets: Immovable assets are assets that are permanently affixed to a building, cannot be easily or cheaply removed from the building, or cannot be used after removal from the building.

Statement of work

Comprehensive and complete physical verification exercise of all fixed assets of an Organization.
Physical identification and labelling of the assets with special bar coded labels.
Capturing of the following Fixed Assets information electronically: 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.
Barcode number
Description
Location
Fixed Asset Classes
Departments and Cost Centre’s
Serial numbers

 

Benefits of Asset Tagging

Identify owned assets quickly and easily with visual inspection.
Track serial or model numbers efficiently with barcode stickers.
Simplify inventory with bar code imprinting of property ID asset tags.
Track high value movable equipment such as laptops & PDA’s.
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 useful life of assets and depreciation schedules
Schedule maintenance, service and replacement of owned assets

 

How Does RFID Asset Tracking Work?

Radio-Frequency Identification (RFID) asset tracking uses a system of RFID tags and electromagnetic readers to collect data from fixed or movable assets. The tags are attached to each item that is being tracked, while the readers are at each location that needs to be tracked. When the readers are in close enough proximity to each tag, the electromagnetic field will transmit the data, which can then be logged in a central database.