Services

Capture Asset Details

Capturing asset details refers to the process of recording key information about an asset, such as its name, description, location, purchase date, purchase price, useful life, depreciation method, and other relevant information. This information is typically recorded in a fixed asset management system or a centralized database, where it can be easily accessed and used to track and manage the asset throughout its life cycle.

Capturing asset details is a critical step in asset management, as it allows companies to keep track of their assets, monitor their usage and performance, and make informed decisions about repairs, maintenance, and disposal. By maintaining accurate and up-to-date records of their assets, companies can ensure that they are using their assets efficiently and effectively, minimizing costs and maximizing returns.

There are several ways to capture asset details, including manual data entry, barcode scanning, RFID tagging, and automated data import. Manual data entry involves entering the asset details into a system manually, which can be time-consuming and prone to errors. Barcode scanning and RFID tagging involve using scanning devices to read information directly from asset tags or labels, which is faster and more accurate than manual data entry. Automated data import involves importing asset details from external sources, such as purchase orders or invoices, directly into the asset management system, which is the most efficient and accurate method but may require integration with other systems.

In summary, capturing asset details is a crucial step in asset management, enabling companies to keep track of their assets, monitor their usage, and make informed decisions. By implementing an efficient and accurate method for capturing asset details, companies can improve their asset tracking, reduce costs, and maximize the returns on their assets.

Tagging

Fixed asset tagging is the process of assigning a unique identifier or label to each fixed asset in a company’s inventory. The tag typically contains information such as the asset’s name, number, barcode, or QR code, which can be scanned or entered into a database to track the asset throughout its lifecycle.

The purpose of fixed asset tagging is to improve the accuracy and efficiency of fixed asset tracking, making it easier for companies to manage their assets and maintain accurate records. By using asset tags, companies can quickly identify, locate, and manage their fixed assets, reducing the risk of loss, theft, or misplacement.

There are several different types of fixed asset tags, including metal tags, plastic tags, and barcode or QR code labels. The type of tag used depends on the company’s needs, budget, and the environment in which the asset will be used.

To implement fixed asset tagging, a company will typically start by conducting an inventory of all its fixed assets. Each asset is then assigned a unique identifier or barcode, and the asset details are recorded in a fixed asset management system or spreadsheet. The tags are then affixed to the assets, and the assets are regularly audited to ensure the tags are still in place and the asset information is up to date.

Overall, fixed asset tagging is an essential component of fixed asset management, enabling companies to track their assets more efficiently and effectively, reducing costs, and improving the accuracy of financial reporting.

Reports

Fixed assets tracking reports play a crucial role in effectively managing and monitoring an organization’s fixed assets. These reports provide valuable insights into the status, location, and condition of the fixed assets, enabling informed decision-making and ensuring proper asset management.

A fixed assets tracking report typically includes the following key information:

1. Asset Identification: Each fixed asset is uniquely identified with asset tags or numbers, allowing for easy tracking and identification in the report.
2. Asset Descriptions: The report includes detailed descriptions of the fixed assets, including their make, model, specifications, and any relevant additional information.
3. Location: The report indicates the current location of each fixed asset, ensuring that assets are accounted for and properly assigned to specific areas or departments.
4. Ownership and Responsible Personnel: The report specifies the ownership of each asset and identifies the responsible personnel or department accountable for the asset’s maintenance and management.
5. Acquisition Details: The report provides information about the acquisition of each asset, including the purchase date, cost, supplier, and other relevant financial details.
6. Depreciation and Value: Fixed assets tracking reports often include depreciation information, such as the method used for calculating depreciation and the asset’s current book value. This helps in evaluating the asset’s value and determining when it may need replacement or disposal.
7. Maintenance and Repair History: The report may include a summary of the maintenance and repair activities performed on each asset, tracking the history of any servicing, repairs, or upgrades.
8. Disposal or Retirement: If any assets have been disposed of or retired, the report documents the details of the disposal, including the method used and the proceeds received, if applicable.

Fixed assets tracking reports provide organizations with a comprehensive overview of their fixed assets, allowing for efficient monitoring, reporting, and decision-making. These reports enable businesses to optimize asset utilization, track maintenance and repair costs, ensure compliance with accounting standards, and plan for future asset needs.

By regularly generating and reviewing fixed assets tracking reports, organizations can enhance their asset management practices, improve cost control, and maintain accurate records for financial reporting and audits.

Data Cleansing

Fixed assets data cleansing is the process of identifying and correcting or removing inaccurate, incomplete, or inconsistent data related to fixed assets in a company’s asset management system. The goal of data cleansing is to ensure that the asset data is accurate, up-to-date, and consistent across the system, which is essential for effective asset management and decision-making.

Data cleansing typically involves several steps, including data profiling, data analysis, and data remediation. Data profiling involves assessing the quality of the asset data by analyzing key data elements, such as asset descriptions, locations, and values, to identify inconsistencies and errors. Data analysis involves further examining the data to determine the root causes of the inconsistencies and errors and developing a plan for addressing them. Data remediation involves implementing the plan to correct or remove the inaccurate or incomplete data, and updating the system to reflect the changes.

There are several benefits to performing fixed assets data cleansing, including improving data quality, reducing data-related errors and inefficiencies, enhancing decision-making, and ensuring compliance with regulatory requirements. By ensuring that the asset data is accurate and up-to-date, companies can make better decisions about asset utilization, maintenance, and replacement, which can lead to cost savings and increased efficiency.

In summary, fixed assets data cleansing is an essential process for maintaining accurate and reliable asset data, which is critical for effective asset management and decision-making. By regularly performing data cleansing activities, companies can ensure that their asset data is consistent, reliable, and up-to-date, which can improve efficiency, reduce costs, and enhance decision-making.

Data Formating

Fixed assets data formatting refers to the process of arranging and presenting fixed asset data in a consistent and standardized format. This involves formatting the data in a way that is easy to read, understand, and analyze, and that conforms to established conventions and standards.

Data formatting is essential for effective fixed asset management because it allows users to quickly and easily access and interpret asset data. By standardizing the format of the data, users can compare and analyze asset information more easily, which can improve decision-making and increase efficiency.

Some common formatting conventions used in fixed assets data include consistent naming conventions for assets, standard units of measurement for asset values and quantities, and standardized date formats. Other formatting considerations may include the use of color-coding or other visual aids to help users quickly identify important information, and the use of consistent fonts, font sizes, and spacing to improve readability.

Fixed assets data formatting can be performed manually or automatically using specialized software tools. Manual formatting typically involves reviewing the data and making changes to ensure consistency and standardization. Automated formatting tools, on the other hand, use pre-defined formatting rules to automatically format the data, saving time and reducing the risk of errors.

In summary, fixed assets data formatting is an important process for improving the quality and usability of asset data. By standardizing the format of the data, users can more easily access and interpret the information, which can improve decision-making and increase efficiency.

Data Auditing

Fixed assets data auditing is the process of verifying the accuracy and completeness of fixed assets data, typically through a systematic review of the data and related documentation. The goal of fixed assets data auditing is to identify errors, inconsistencies, and omissions in the data, and to ensure that the data is reliable, relevant, and timely.

Fixed assets data auditing typically involves a range of activities, including:

1. Data verification: Verifying that the fixed assets data is accurate and complete, and that it conforms to established standards and conventions.
2. Data reconciliation: Comparing the fixed assets data against other sources of data to identify discrepancies and reconcile any differences.
3. Data analysis: Using data analysis techniques to identify patterns, trends, and anomalies in the data, and to identify potential issues or areas for improvement.
4. Documentation review: Reviewing documentation related to fixed assets, such as purchase orders, invoices, and maintenance records, to ensure that the data is complete and accurate.
5. Compliance review: Reviewing the fixed assets data to ensure that it complies with relevant regulations and policies, such as accounting standards, tax laws, and internal policies and procedures.

Fixed assets data auditing is typically performed by internal or external auditors who are independent from the fixed assets management function. The auditors may use specialized tools and techniques to perform the audit, such as data analysis software, sampling techniques, and statistical analysis.

The results of the fixed assets data audit are typically documented in a report, which outlines the findings and recommendations for improvement. The report may include recommendations for improving data quality, addressing compliance issues, and enhancing fixed assets management processes and controls.

Data Reconciliation

Fixed assets data reconciliation is the process of comparing the financial records of fixed assets with the actual physical assets owned by a company. This process is important to ensure the accuracy and completeness of the fixed assets data recorded in the financial statements.

Fixed assets data reconciliation involves comparing the fixed assets records with the actual assets through physical inspection and verification. Any discrepancies or differences found during this process must be investigated and corrected to ensure that the fixed assets data is accurate and reliable.

The purpose of fixed assets data reconciliation is to ensure that the company’s financial statements accurately reflect the fixed assets owned by the company and that the value of those assets is correctly reported. This process can help identify errors or omissions in the fixed assets data, which can help prevent financial misstatements and ensure compliance with accounting standards and regulations.

Define Verification Audit

Fixed asset verification audit is a process of verifying the existence, ownership, location, and value of fixed assets of a company. This process is important to ensure that the company’s financial statements accurately reflect the value and condition of its fixed assets.

Here are the steps involved in the fixed asset verification audit process:

1. Planning: The first step in the process is to plan the audit, which involves identifying the scope of the audit, the assets to be audited, and the audit team responsible for the audit.
2. Physical verification: The next step is to physically verify the existence, location, and condition of the fixed assets. This involves inspecting the assets, taking photographs, and verifying serial numbers and other identifying features.
3. Ownership verification: After the physical verification, the auditor verifies the ownership of the assets, which involves reviewing purchase orders, invoices, and other relevant documents to ensure that the assets are owned by the company.
4. Valuation: The auditor then verifies the value of the assets, which involves comparing the recorded value of the assets with the market value or appraised value of the assets.
5. Documentation: The final step is to document the findings of the audit, which includes preparing an audit report that highlights the results of the audit, any discrepancies or issues found, and recommendations for improving the company’s fixed asset management process.

Fixed asset verification audits are essential for ensuring that the financial statements of a company are accurate and reliable, and that the company’s fixed assets are properly managed and accounted for.

Verification Audit

Fixed assets verification audit is a process of physically verifying the existence and condition of fixed assets as recorded in an organization’s fixed asset register. The verification audit is usually conducted periodically, such as annually or biennially, to ensure that the information in the fixed asset register is accurate and up-to-date.

The verification audit process involves several steps, including:

1. Planning the audit: This includes defining the scope of the audit, identifying the assets to be audited, and preparing the audit plan.
2. Conducting the audit: This involves physically verifying the assets and comparing them to the information recorded in the fixed asset register. The auditors may use barcodes, RFID tags, or other identification methods to match the physical assets with their corresponding records.
3. Identifying discrepancies: Any discrepancies between the physical assets and the fixed asset register should be noted and investigated. These discrepancies may include missing assets, assets that are no longer in use, or assets that are recorded in the register but cannot be located.
4. Resolving discrepancies: Once discrepancies are identified, steps should be taken to resolve them. This may involve updating the fixed asset register, conducting further investigations, or taking corrective actions.
5. Reporting the audit results: The results of the audit should be documented in a report and shared with management. The report should include any discrepancies identified, the actions taken to resolve them, and any recommendations for improving the fixed asset management process.

The fixed assets verification audit helps organizations ensure the accuracy of their fixed asset records, which can help prevent errors and fraud, reduce costs, and improve decision-making related to fixed asset management.

Verification Freeze

Freezing the verification audit process refers to the point where no further changes can be made to the fixed asset register until the verification audit is finalized. Finalizing the verification audit process involves the following steps:

1. Reviewing the fixed asset register and verifying that all assets have been accounted for.
2. Ensuring that all necessary adjustments have been made to the fixed asset register as a result of the verification audit.
3. Generating reports and reconciling the fixed asset register with the general ledger.
4. Obtaining approval from management to finalize the verification audit process.
5. Closing the verification audit process and updating the fixed asset register to reflect any changes made during the audit.

Once the verification audit is finalized, the fixed asset register should accurately reflect the company’s fixed assets and their current values, providing a reliable basis for financial reporting and decision-making.

Reconciliation

Fixed asset verification audit reconciliation is the process of comparing the results of a physical asset count and verification to the fixed asset register to ensure the accuracy of the information contained within it. It involves reconciling the physical asset count and the assets recorded in the fixed asset register, identifying discrepancies, and taking corrective action where necessary to ensure that the register is up-to-date and accurate.

During the verification audit reconciliation, the auditor will check for any missing assets or discrepancies between the recorded assets and the physical assets found. They will investigate any discrepancies and take steps to correct them. The audit may also involve reviewing the asset management policies and procedures to ensure that they are effective and followed by the organization.

The goal of fixed asset verification audit reconciliation is to provide an accurate record of the organization’s assets, ensuring that they are properly accounted for and managed. It helps to prevent fraud, errors, and mismanagement of assets, and provides a sound basis for decision-making regarding asset management.

Verification Close

Closing the verification audit involves finalizing the audit process and preparing a report that summarizes the findings and recommendations. This includes reviewing the results of the physical verification of assets, reconciling discrepancies, updating the fixed asset register, and addressing any issues or concerns that were identified during the audit.

Once the audit report is prepared and approved, the verification audit process can be closed by updating the fixed asset register and other relevant records. This includes making any necessary adjustments to asset values, depreciation calculations, and asset location or custodian details. The fixed asset register should also be updated to reflect the current status of each asset, including any disposals, transfers, or additions that occurred during the audit process.

Closing the verification audit also involves communicating the results of the audit to relevant stakeholders, such as management, finance teams, and auditors. This may involve presenting the audit report and recommendations, discussing any remedial actions that need to be taken, and identifying any areas for improvement in the fixed asset management process.

Custodian Verification

Custodian Verification

Data Loading

Fixed assets data loading is the process of importing or uploading data related to fixed assets into a fixed asset management software or system. This data can include information such as the asset’s description, location, purchase date, cost, useful life, depreciation method, and other relevant details.

The data loading process typically involves the following steps:

1. Data preparation: This step involves organizing and formatting the data to ensure that it is compatible with the fixed asset management software or system. This may include cleaning up data, removing duplicates, and formatting data in a consistent manner.
2. Data mapping: In this step, the data fields in the source file are mapped to the corresponding fields in the fixed asset management software or system.
3. Data validation: Once the data has been mapped, it is validated to ensure that it meets the required standards and that there are no errors or inconsistencies.
4. Data loading: After the data has been validated, it is loaded into the fixed asset management software or system.
5. Data verification: Finally, the loaded data is verified to ensure that all the relevant information has been correctly uploaded and that the system accurately reflects the fixed asset data.

Proper fixed asset data loading is crucial for ensuring accurate and reliable fixed asset tracking and management. It can help organizations avoid errors and save time, while also ensuring compliance with accounting and tax regulations.

Assets Creation

The fixed assets creation process involves several activities, including:

1. Asset identification: The first step in the creation process is to identify the asset that needs to be added to the fixed asset register. This can be done by reviewing invoices, purchase orders, or other relevant documentation.
2. Asset classification: The asset needs to be classified based on its nature and intended use. This will help determine the appropriate depreciation method and rate.
3. Asset valuation: The next step is to determine the fair value of the asset. This can be done through an independent valuation or by using a standard valuation method such as the cost method, market method, or income method.
4. Asset tagging: Once the asset has been identified and valued, it needs to be tagged with a unique identification number to facilitate tracking and management.
5. Asset registration: The asset details, including its identification number, classification, valuation, and other relevant information, need to be recorded in the fixed asset register.
6. Asset assignment: The asset needs to be assigned to the appropriate cost center or business unit, and the responsible custodian needs to be identified.
7. Asset depreciation: Finally, the appropriate depreciation method and rate need to be applied to the asset to determine its annual depreciation expense. This information will be used to calculate the asset’s book value over time.

Updating Transactions

Updating fixed assets transactions involves making changes to the recorded transactions of the asset, such as additions, disposals, transfers, depreciation, and other adjustments. The process of updating transactions ensures that the fixed asset register is accurate and up-to-date, which is essential for making informed decisions about the management of fixed assets.

To update fixed assets transactions, the following activities are usually involved:

1. Reviewing the transaction history: This involves examining the recorded transactions of the fixed asset to identify any errors or omissions that need to be corrected.
2. Making necessary adjustments: Based on the review, necessary adjustments are made to the transactions, including additions, disposals, transfers, and depreciation.
3. Calculating depreciation: If the asset has not been depreciated correctly, the depreciation expense needs to be recalculated based on the correct method, life, and rate.
4. Updating the fixed asset register: After all the necessary adjustments have been made, the fixed asset register is updated with the correct information.
5. Reconciling the fixed asset register: Once the fixed asset register has been updated, it needs to be reconciled with other financial records to ensure that all information is consistent and accurate.
6. Generating reports: Reports are generated to provide an overview of the updated transactions and their impact on the organization’s financial position.

Overall, updating fixed assets transactions is an important activity in maintaining an accurate fixed asset register, which helps organizations make informed decisions about the management of their assets.

Reporting

Reports offer valuable insights into the status, value, and performance of fixed assets, helping businesses make informed decisions, meet compliance requirements, and optimize asset management.

Fixed assets BPO reporting typically includes the following key elements:

1. Asset Inventory: The report provides a comprehensive inventory of fixed assets, including asset descriptions, identification numbers, locations, and ownership details. This inventory serves as a foundation for tracking and managing the organization’s fixed assets effectively.
2. Depreciation and Value: reporting includes depreciation calculations and the current value of fixed assets. This information helps organizations understand the financial impact of asset depreciation and aids in decision-making related to replacement, disposal, or asset optimization.
3. Maintenance and Repairs: Reporting captures data on maintenance and repair activities performed on fixed assets. It includes details such as service dates, costs incurred, and work performed. This helps in assessing asset performance, planning maintenance schedules, and optimizing asset lifecycles.
4. Compliance and Regulatory Reporting:  ensures adherence to accounting standards and regulatory requirements. It includes data necessary for financial reporting, tax compliance, and audit purposes. This helps organizations maintain accurate records and meet legal obligations.
5. Disposal and Retirement: Reports document the disposal or retirement of fixed assets, including the method of disposal, proceeds received (if any), and any associated costs. This information helps in tracking asset lifecycle management, evaluating disposal strategies, and maintaining proper records for financial reporting.
6. Analytics and Insights: reporting often includes analytical insights and performance metrics related to fixed assets. This may include asset utilization rates, maintenance costs, return on investment (ROI), and other key performance indicators. These insights assist in identifying trends, optimizing asset utilization, and making data-driven decisions.

Levantare, fixed assets BPO reporting provides organizations with comprehensive, accurate, and up-to-date information about their fixed asset portfolio. By outsourcing the reporting function, organizations can benefit from specialized expertise, streamlined processes, and timely reporting, enabling them to focus on core business activities and make informed decisions regarding asset management.

Overall, fixed assets BPO reporting enhances transparency, enables compliance, supports strategic planning, and facilitates efficient asset management for organizations of all sizes.

Tracking

Fixed asset tracking and tagging are crucial processes in effective asset management. Tracking involves accurately recording and monitoring the movement, location, and condition of fixed assets throughout their lifecycle. Tagging, on the other hand, involves labeling assets with unique identifiers or tags to simplify identification and tracking.

The benefits of fixed asset tracking and tagging include:

1. Improved Asset Visibility: Tracking and tagging enable organizations to have a clear view of their fixed assets, including their location, status, and custodian. This improves accountability and reduces the risk of loss or theft.
2. Enhanced Asset Utilization: By tracking assets, organizations can optimize asset utilization by identifying underutilized or idle assets. This allows for effective resource allocation and potential cost savings.
3. Efficient Maintenance and Repairs: Tracking assets helps in scheduling and managing maintenance and repairs. By monitoring asset history and condition, organizations can proactively address maintenance needs, reduce downtime, and extend asset lifespan.
4. Compliance and Audit Readiness: Accurate asset tracking ensures compliance with regulatory requirements and facilitates smooth audits. It provides the necessary documentation and evidence of asset ownership, usage, and depreciation for financial reporting and tax purposes.
5. Cost Control and Budgeting: With proper tracking, organizations can make informed decisions regarding asset acquisition, disposal, and replacement. It aids in budgeting, forecasting, and assessing the financial impact of fixed assets on the organization.
6. Streamlined Asset Management Processes: Tracking and tagging simplify asset management processes, such as physical verification, inventory reconciliation, and asset retirement. These processes become more efficient, saving time and reducing administrative overhead.

To achieve effective fixed asset tracking and tagging, organizations should establish robust procedures and utilize technology solutions like asset management software, barcode or RFID tagging, and mobile tracking apps. Regular audits, employee training, and adherence to industry best practices are also vital for maintaining accurate and up-to-date asset records.

In summary, fixed asset tracking and tagging play a vital role in optimizing asset management, improving accountability, complying with regulations, and maximizing the value of fixed assets throughout their lifecycle.

Auditing

At Levantare, we understand that accurate and up-to-date fixed asset data is crucial for effective financial reporting, compliance with accounting standards, and informed decision-making. Our experienced team of auditors is well-equipped to assist you in auditing your fixed asset data and identifying any discrepancies or potential areas of improvement.

Here’s an overview of our Fixed Assets Data Auditing process:

1. Data Analysis and Assessment: We start by thoroughly examining your fixed asset data, including asset descriptions, acquisition dates, costs, depreciation methods, and other relevant information. Our team will analyze the data for inconsistencies, errors, or missing information that may affect the accuracy and reliability of your fixed asset records.
2. Verification and Reconciliation: Through careful analysis and cross-referencing, we verify the fixed asset data against supporting documentation such as purchase invoices, lease agreements, disposal records, and maintenance logs. We ensure that the data in your fixed asset register aligns with the physical assets and the transactions recorded in your financial statements.
3. Compliance and Accounting Standards: Our audit executives assess the compliance of your fixed asset data with relevant accounting standards, industry regulations, and internal policies. This helps identify any areas where adjustments or enhancements are required to align with the prescribed guidelines and reporting requirements.
4. Controls and Procedures Evaluation: We evaluate the internal controls and procedures in place for managing fixed asset data. This includes assessing data entry processes, authorization mechanisms, and segregation of duties to ensure the accuracy and integrity of the data throughout its lifecycle.
5. Reporting and Recommendations: After completing the fixed assets data audit, we provide you with a comprehensive report highlighting our findings, observations, and recommendations. This report serves as a valuable tool to help you address any identified weaknesses, improve data management processes, and enhance the overall quality of your fixed asset data.

Our team at Levantare is committed to delivering reliable and actionable insights to optimize your fixed assets data management. We understand that accurate data is the foundation for effective financial reporting and decision-making, and we strive to help you achieve excellence in this aspect of your business operations.

Verification

Our team at Levantare specializes in conducting comprehensive and reliable fixed assets physical audits to help organizations to ensure the accuracy and integrity of their fixed asset records.

During a fixed assets physical audit, our experienced audit executives will work closely with your organization to plan and execute the audit process efficiently and effectively. Here is a breakdown of the key steps involved:

1. Planning: We begin by understanding your organization’s specific requirements and objectives for the audit. Our team will collaborate with you to determine the scope of the audit, establish timelines, and identify the necessary resources for a seamless audit process.
2. Asset Identification: To ensure a systematic and thorough audit, we help you assign unique identification tags or numbers to each fixed asset. This allows us to track and verify the existence and location of every asset accurately.
3. Physical Verification: Our executives will physically visit your premises to conduct a detailed inspection of your fixed assets. We meticulously verify the presence, condition, and location of each asset by comparing them against the information recorded in your fixed asset register.
4. Condition Assessment: As part of the physical audit, we assess the condition of each asset, taking note of any damages, wear and tear, or maintenance requirements. This assessment provides valuable insights into the overall health and value of your fixed assets.
5. Reconciliation and Reporting: After completing the physical verification process, we reconcile the physical count of assets with the records in your fixed asset register. Any discrepancies or inconsistencies are thoroughly investigated, and a comprehensive report is prepared. This report includes detailed findings, observations, and recommendations to help you improve your asset management practices and ensure accurate financial reporting.

At Levantare, we understand the importance of accuracy and reliability when it comes to fixed asset records. Our team of audit executives brings deep expertise and a meticulous approach to every audit we conduct, ensuring that you have a clear understanding of the status and condition of your fixed assets.

BPO

Levantare specializes in providing comprehensive and reliable Fixed Assets BPO solutions to help organizations to streamline their fixed asset management processes and achieve operational efficiencies.

At Levantare, we understand the challenges that come with managing fixed assets, including the complexity of data management, compliance requirements, and the need for accurate and up-to-date records. Our Fixed Assets BPO services offer a cost-effective and strategic approach to offloading the burden of fixed asset management, allowing you to focus on your core business activities.

Here’s an overview of the Fixed Assets BPO services provided by Levantare:

1. Data Entry and Maintenance: Our team of experienced professionals will handle the data entry and maintenance tasks associated with your fixed assets. This includes capturing and updating information such as asset descriptions, purchase details, depreciation methods, and disposal records in a centralized and organized system.
2. Asset Register Management: We will maintain an accurate and up-to-date fixed asset register on your behalf. This involves creating a comprehensive database that captures all relevant information pertaining to your fixed assets, ensuring easy access to vital asset data whenever needed.
3. Depreciation Calculation and Reporting: Our experts will calculate and manage the depreciation of your fixed assets in accordance with the applicable accounting standards and policies. We will generate depreciation schedules, reports, and other financial information required for accurate financial reporting.
4. Compliance and Regulatory Support: Levantare will ensure that your fixed asset management processes align with the relevant regulatory requirements and accounting standards. We will monitor changes in regulations, keep you updated on compliance matters, and help implement necessary adjustments to maintain adherence.
5. Data Security and Confidentiality: We understand the importance of data security and confidentiality. Our BPO services adhere to strict protocols and measures to safeguard your fixed asset data, ensuring its privacy and integrity throughout the outsourcing engagement.

By leveraging Levantare’s Fixed Assets BPO services, you can benefit from:

• Increased accuracy and reliability of fixed asset data
• Enhanced operational efficiency and cost savings
• Access to specialized expertise and industry best practices
• Improved compliance with accounting standards and regulatory requirements
• Streamlined fixed asset management processes

Our team of professionals is committed to delivering high-quality solutions that align with your business objectives.

Services

Consultancy Services

Levantares’ Fixed asset management consultancy services provide organizations with expert guidance and assistance in effectively managing their fixed assets. These services help optimize asset utilization, streamline processes, ensure compliance, and maximize the value of fixed assets. Here are the key steps involved in fixed asset management consultancy services:

1. Needs Assessment: Levantare begins by conducting a comprehensive needs assessment, understanding the organization’s specific requirements, challenges, and objectives related to fixed asset management. This assessment helps tailor the our consultancy services to the organization’s unique needs.
2. Gap Analysis: The next step involves conducting a gap analysis of the organization’s existing fixed asset management practices and processes. This includes reviewing the current asset register, asset tracking methods, depreciation methods, maintenance practices, compliance with accounting standards, and overall efficiency of asset management processes.
3. Recommendations and Strategy Development: Based on the needs assessment and gap analysis, Levantare develops customized recommendations and strategies for improving fixed asset management. This may include suggestions for implementing robust asset tracking systems, enhancing depreciation methods, establishing maintenance protocols, and ensuring compliance with relevant regulations.
4. Implementation Planning: Once the recommendations and strategies are finalized, Levantare helps the organization develop a detailed implementation plan. This plan includes specific actions, timelines, responsibilities, and resource allocation required for implementing the proposed changes.
5. Technology Solutions: Levantare may provide guidance on selecting and implementing suitable technology solutions for fixed asset management. This could involve suggesting asset management software, barcode or RFID tagging systems, mobile tracking apps, or integrating with existing enterprise resource planning (ERP) systems.
6. Training and Change Management: Levantares’ effective fixed asset management consultancy services also include training programs for staff members involved in asset management. This ensures that employees understand the new processes, tools, and best practices and are equipped to carry out their roles effectively. Change management support is provided to facilitate a smooth transition to the recommended changes.
7. Monitoring and Evaluation: Levantare continues to support the organization by monitoring the progress of the implemented changes, evaluating their effectiveness, and providing on-going guidance for further improvements. Regular reviews and assessments are conducted to ensure that the fixed asset management practices remain efficient and aligned with the organization’s evolving needs.

By following these steps, Levantare help organizations optimize their asset management practices, enhance compliance, reduce costs, and maximize the value of their fixed assets.