3 Tips for Completing an Asset Verification

Many companies struggle with fixed asset verifications or physical asset audits because they make it more difficult than it needs to be. There are still companies that use printed pieces of paper on clipboards in order to conduct asset verifications on an annual or semiannual basis. There are a few tips that you can implement immediately in order to simplify the process and ensure that you are gaining a true understanding of your asset base.

Implementing barcodes ensures ongoing auditing is simple and accurate

Implementing barcodes ensures ongoing auditing is simple and accurate

Implement Barcodes

Barcodes can be placed on all fixed assets. This way, when it is time to conduct an inventory or stocktake, it is simple to scan the barcodes. This will ensure that each asset is identified individually and accurately.

Use a Tablet and Audit Software

A tablet with appropriate audit or verification software has the ability to simplify the entire process. It mobilises the person to be able to walk freely throughout the facility and locate all assets. The information can be recorded on the tablet, running online or offline and updating your asset register. It eliminates all handwritten documents, reducing human error and duplication of data management.

Feed Content into your ERP or CMMS

All of the content collected with the use of barcodes and a tablet can feed into an ERP or CMMS system. This helps to maintain the financial and maintenance aspect of fixed assets allowing you to plan and budget based on an accurate asset base elimating any kind of redundancy with the data.

Learn more about fixed asset verifications by contacting Reduxo today.