You have determined that it’s time to bring in a professional to conduct an inventory of your fixed assets. The search for a reliable company ends here. With Impax Business solutions you are assured of getting maximum Return On Investment (ROI).
First off, consider all of the added benefits available in our offering and they are definitely beyond the basics. Most of the expense related to the service is associated in having a team of qualified experts travel to your facilities and their time spent performing the inventory service.
Maybe you have engaged a vendor to take inventory of capitalized equipment to help with audit. Consider what additional value you can attain from the service at little or possibly no additional cost to you.
Let’s say the base service you have paid for entails inventory, asset tagging and reconciliation of your fixed asset register.
What other benefits can you harvest from this service?
Improved Asset Utilization
Without fail, physical inventory will identify idle assets. These are often locked in a closet, storage room, basement, or otherwise out of sight and probably out of mind. Once the inventory database is produced, you can create a report of idle assets and work with each custodian to determine how these assets are best used.
Proper decommissioning and disposal of retired assets.
Just as physical inventory will identify idle equipment, it will also locate end of lifecycle of assets. These can pose real problems depending on the nature of the asset and business. We find stacks of old laptops and desktop computers sitting in storage, servers that function as door stops and old machines with missing internal components. The problem is, these machines have not been properly decommissioned with an in-line corporate policy and potentially sensitive information stored on those devices is no longer secured.
Improved Asset Management Policies and Procedures
The physical inventory and reconciliation process often requires participation from resources across various business functions that may not typically interact with one another. These roles range from finance to IT, operations, facilities, and beyond. Working with these crucial stakeholders across the asset lifecycle, your inventory service provider, in particular the Project Manager, is in a pivotal position to review your asset management procedures. This enables them to identify gaps, problems and areas for improvement.
Updating/reconciling your asset tracking system.
As is the case with reconciling most corporate fixed asset registers, this helps you find outdated records that are kept within asset management/tracking system.