Objective: To track, estimate the quantity of fixed assets lying in more than 100 locations of World Vision India, a charitable organization.
Industry: A charitable organization with over 100 locations involved in organizing projects on health, education and social projects for deprived children.
Challenge: World Vision India has their offices in over 100 locations. The locations are classified and sub-classified as Project Management offices and ADP’s (Associate development partner). The ADP’s are located throughout India, in metropolitan cities, suburbs and rural areas. The objective of the ADP’s is to manage the charitable projects based on the need in the respective area. The projects are being funded by World Vision and Fixed Assets are also deployed by World Vision.
The Challenges faced were that the fixed assets were deployed at many remote locations.
After the completion of the projects
Under these circumstances, a clear verification and audit needed to be done to identify the fixed assets to each ADP and its project. A check needed to be done if any assets were transferred, or were gifted off or disposed.
Solution: World Vision is a charitable organization, with over 100 offices spread across India. World Vision is a non-profitable organization, which assists many charitable projects, by deploying their assets and resources to these offices and the projects. Mr. Sam Nirmal, CFO, and Mr. Victor Immanuel had explained that the projects, which used these assets, transferred their assets, once the project was completed to the Branch offices or to other projects. The physical challenge is in tracking the assets to the location. A major hindrance faced by them was that the offices and the projects were located in all the four corners of India. World Vision commissioned Trends Infonet with the task of undertaking a physical audit in all the locations and implementing the software in all the locations of World Vision. The initial data was provided by World vision and the Tracking experts verified the data with the help of the local officers of World Vision. The data was classified into assets bought, sold and transferred to other projects and locations. These data is subsequently being verified with the purchase information. Currently the implementation of the Fixed Assets is under progress.
Result: The physical audit of the fixed assets is completed in some locations and the update of the fixed assets data has been done.
The physical audit of the remaining locations is under progress.