Inventory Fixed Assets Tagging Service

Inventory Asset tagging services involve the process of labeling physical assets with unique identifiers, such as barcodes, QR codes, or RFID tags, to facilitate tracking, management, and maintenance throughout the lifecycle. These services help organizations gain better visibility and control over their assets, leading to improved efficiency, reduced losses, and enhanced operational performance. 

Our Asset Tagging Services Offers:

• Asset Identification: Assigning unique identifiers to each asset.
• Tagging and Labeling: Applying physical tags or labels to assets.
• Asset Tracking: Monitoring asset location, movement, and status.
• Data Capture: Recording and storing asset information, such as maintenance history, location, and condition.
• Integration with Software:  Connecting asset data with asset management software for comprehensive tracking and management.

Benefits of Asset Tagging Services:

• Improved Asset Management

Organizations can easily track and manage their assets, leading to better utilization and reduced losses.

• Enhanced Operational Efficiency

Streamlined processes for tracking, maintenance, and inventory management contribute to improved operational efficiency.

• Reduced Costs

Proper asset management can minimize expenses related to lost or misplaced assets, maintenance, and insurance.

• Better Decision-Making

Accurate asset data enables informed decisions regarding asset replacement, maintenance, and resource allocation.

• Compliance

Asset tagging can help organizations comply with regulatory requirements and industry standards.

• Risk Mitigation

Identifying unregistered assets and tracking their lifecycle helps mitigate potential risks associated with unmanaged assets.

Industries Utilizing Asset Tagging:

Asset tagging services are used across various industries, including:

• Healthcare: Tracking medical equipment, patient records, and other critical assets.
• Retail: Managing inventory, optimizing supply chain, and preventing theft.
• Manufacturing: Tracking equipment, work-in-progress, and finished goods.
• Education: Managing IT equipment, furniture, and other assets within educational institutions.
• Hospitality: Tracking assets in hotels, restaurants, and other hospitality businesses.
• Real Estate: Managing building assets, equipment, and other resources.
• IT: Managing hardware, software licenses, and other IT assets.

Key Components of Asset Tagging:

• Asset Identification

Determining the most appropriate method for identifying each asset (e.g., barcode, QR code, RFID).

• Tagging and Labeling

Applying the chosen tags or labels to the assets in a durable and visible manner.

• Data Management: and Labeling

Utilizing asset management software or systems to store and manage asset data.

• Integration with other systems

Connecting asset data with other business systems, such as ERP, CMMS, or inventory management systems.

• Training and Support

Providing training to staff on how to use the asset tagging system and offering ongoing support.

Our scope of fixed asset management services include fixed asset auditing (asset tagging, asset data reconciliation).

Our Team

Our dedicated project team works hard to successfully conduct fixed asset auditing (verification) projects for clients. We employ a systematic approach to audit your fixed assets involving meticulous planning. We develop an understanding of your environment and needs to successfully and thoroughly audit your assets using proven methodology and audit tools.

Our fixed asset auditing services involve:

• Complete and comprehensive verification of all the physical fixed assets in the organisation
• Asset tagging of fixed assets with labels
• Collection of crucial fixed asset information
• Reconciliation of "captured" fixed asset data on-the-ground with existing assets records

Your return on investment

We work hard to help clients meet their fixed assets management objectives. We have successfully completed fixed asset auditing projects for clients from a wide range of industry backgrounds.

Identification of lost or broken assets for immediate write-off

Lost assets pose risks to an organisation including but not limited to: inaccurate balance sheets, lost productivity, higher operating expenses from overpayment of taxes, insurance and service contracts, inaccurate asset capital expenditure budgeting. Broken assets may be unecessarily covered by service contracts.

Identification of unregistered assets

Unregistered assets can cause a company to be undervalued and lead to inaccurate balance sheets. Maintenance operations may exclude unregistered assets, which leads to lack of maintenance and inspection history on these assets and affects risk assessment. Unregistered assets may also not be covered by insurance. From a financial perspective, inaccuracy in asset database affects capital allowance claims, insurance charges and profit figure reporting.

Effectively monitor the useful life of assets and depreciation

With regular audits, identify the change in asset movement, quantity