Can Your Business Survive Without Ongoing Rolling Asset Audits?

The Big Picture

When looking through data and finances, having every piece of data at your disposal remains as crucial as ever. Not only that, but it's imperative that the information is current as well as reliable. Ongoing audits have the greatest potential for providing the information needed such as updating the condition of an asset, thus safeguarding optimum decision-making regarding finances, maintenance and assets.

Communication

An ongoing audit increases the efficiency of communication exponentially. Keeping facilities in touch with finance and operations, having all in constant contact enables them to react quickly and keep operations moving smoothly. An added benefit is this ensures assets are correctly maintained at all times. Having departments aligned establishes the ability for quick responses to discrepancies (or other issues which may arise).

Speed

The business world moves at breakneck speeds, and falling behind is never an option. Running out of time can spell disaster, thus rolling audits help you continue moving at a fast pace. This happens because they give you a good look at your content, and the kind of traffic it is experiencing. The faster data gets analysed and acted upon, the higher the success rate. In addition, locating specific assets quickly insures the best scenario for effective utilisation of them. 

How Are Rolling Asset Audits Different?

Unlike a typical audit (which typically takes place every few years), these take place on a regular basis. The role of such consistency is for verifying assets already on file, while immediately adding new ones to the list. This not only saves money; keeping an accurate and current registry is essential for maximum productivity. For example, Reduxo provides a rolling audit which takes place periodically such as quarterly. The service includes barcoding or capturing new assets, coupled with authenticating current ones. The assets get audited by area or site, with every area getting analysed over a period of say 24 or 36 months.

Still unconvinced? Still afraid of ongoing rolling audits? Fear not; contact us and we can guide you through the process and the benefits of using them.