All economic organizations manage different types of assets that enable them to operate more efficiently and to be more competitive. Proper accounting for assets is essential to any organization, with both accounting, tax and reporting implications.
Outsourcing the inventory of fixed assets and small inventory is a service that is targeting all economic organizations with a larger pool of assets and which enables them to quickly generate an actual asset report both from the accounting and logistical point of view.
Inventory is a mandatory statutory activity, both legally and in terms of the business responsibilities of the manager, which is necessary to ensure the normal operation of the organizations. There are several signals that indicate when you need to outsource inventory services for fixed assets:
- You have reached a large number of locations (over 10) distributed over long distances, and mobilizing of the inventory staff has become a problem (you have difficulty in attracting staff to inventory commisions)
- The fixed assets and small inventory ledger has reached a large size, of over a thousand items. In this context, it is becoming increasingly difficult for organizations to undertake a complete inventory based on the normal method, based on printed lists, identification of assets being very difficult in the absence of barcode labels
- The current inventory take methodology does not ensure an adequate level of confidence of the results, given the large number of items and complexity of the patrimony.
Based on an experience built around hundreds of projects, the IDTotal team has developed over time a reliable inventory procedure that ensures a maximum level of accuracy in the particular circumstances of each project. The stages of each asset inventory project are as follows:
At each stage, IDTotal consultants will build a personalized work plan that takes into account the specificity of the patrimony, locations and procedures applicable by each beneficiary. All these activities will be integrated into an inventory procedure that will be applied uniformly by all inventory teams.
Identification of assets is based on existing barcode labels or on labels applied by the IDTotal team, which are scanned using the IDAssets + application installed on the mobile terminals with the scanner. Once all assets in the field have been scanned, the data is synchronized in the Back Office IDAssets + application, which is used to perform the reconciliation with accounting stock and the inventory lists are completed.
Asset identification by inventory teams is made, depending on the specific circumstances, by using one of the following methods:
- By scanning an existing barcode label already applied onto the organization assets, the respective assets are thus recognized based on a master data of items loaded in mobile terminals
- If such a label does not exist, it is necessary to use another unique identification criterion, such as a serial number (for IT objects) or an inventory number coded numerically and marked on the asset. This information can be entered from the mobile terminal keypad in the IDAssets+ frontend application
- If there is no information associated with individual objects that can be used to identify assets, the team will implement an identification procedure that will take into account all project specific information
- For each asset, the IDAssets + software collects, in addition to the mere existence of the object, additional descriptive information such as: serial number, brand, model, manufacturer, size, and context information: precise location of the object (e.g. at room / office / floor level), the user of the object. Through the implemented procedure, inventory agents will also enter information about the state of operation of the object in the terminal to allow write off proposals to be made.
The inventory procedure used by IDTotal allows detection and correction of any possible human errors occurring during the inventory process. If the organization maintains a ledger with fixed assets and inventory objects types at the location level, uploading this data to mobile scanning terminals will make it possible to determine, after the completion of the field stage in each location, a list of items not found that will be validated with the local representative of the organization.
Any eventual pluses identified by the field inventory team will also be validated, this initial validation stage being part of the site reconciliation stage. After the consolidation of all individual inventories per locations, a new stage of additional reconciliation checks will be performed on the basis of algorithms developed by IDTotal, which allows to obtain a very high level of efficiency and accuracy of the inventory list.
By outsourcing the inventory activity, it is not necessary to interrupt the current activity, regardless of the departments involved. Our agents have extensive experience both in operating procedures and in customer relationship management to reduce the discomfort created by specific inventory activities.
The tariff for asset inventory services is determined by the size of the patrimony, the geographic distribution of the locations where the assets are located, the deployment period and the workflow considered for the inventory. From a financial standpoint, inventory outsourcing is justified ever since the first excercise, due to lower costs through the use of external staff, the continuity of the normal business activity and the higher level of accuracy and independence obtained. In order to get a customised offer, please send us a direct request stating the services required.