Managed Asset Audit Service (MAAS)
Periodical Audits or Stocktakes Over a Select Time
Now that the initial physical asset is wrapped up and you have a complete and accurate asset register, how are you going to maintain it?
Ongoing asset additions and disposals need to be managed and Reduxo is pleased to offer this service.
Having accurate data available allows you to make informed decisions:
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To make ongoing financial decisions on assets
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To track assets for availability and utilisation
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To mitigate asset risk
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To maintain assets to ensure compliance
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To increase reliability
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To update asset management plans
Benefits of Ongoing Asset Audits
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Ongoing audits help maintain an accurate and up-to-date record of all physical assets. This ensures that organizations have a clear understanding of what assets they own and their current status.
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By tracking assets regularly, organizations can identify underutilized or surplus assets. This enables them to make informed decisions about optimizing asset utilization, reducing maintenance costs, and eliminating unnecessary purchases.
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Regular audits allow organizations to identify assets that require maintenance or repairs promptly. This helps prevent breakdowns, extends asset lifespan, and reduces unplanned downtime.
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Accurate asset tracking helps organizations calculate depreciation more precisely for financial reporting purposes, ensuring compliance with accounting standards.
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Audits help mitigate risks associated with asset loss, theft, or misuse. They also aid in compliance with regulatory requirements, especially in industries with strict asset management regulations.
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Organizations can allocate resources more effectively when they have a clear understanding of asset conditions and lifecycles. This can lead to better budgeting and investment decisions.
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In the event of asset damage or loss, having well-documented audit records can simplify the process of filing insurance claims and provide evidence for insurance coverage.
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Accurate asset records can help organizations claim tax benefits, such as depreciation deductions, more efficiently.
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With optimized asset utilization and reduced downtime, operations become more efficient, leading to increased productivity.
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Audits facilitate compliance with industry-specific regulations and standards, ensuring that organizations meet their legal and environmental obligations. They also simplify the reporting process for stakeholders and regulatory bodies.
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Asset audits generate valuable data that can be used for data analytics and informed decision-making. This data can help organizations identify trends, predict maintenance needs, and plan for future asset acquisitions.
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Audits support a holistic approach to asset lifecycle management, from acquisition to disposal, helping organizations make informed decisions at every stage.
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Asset audits can also be vital for ensuring the security of critical assets, particularly in industries where asset theft or tampering is a concern.
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For service-based businesses, asset audits can help ensure that assets used to deliver services are in optimal condition, leading to improved customer satisfaction.
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Audits can aid in tracking the environmental impact of assets, facilitating efforts to reduce resource consumption and improve sustainability.
What MAAS is really about:
The need for ongoing asset additions and disposals to be accurately accounted for is paramount, as these changes can sometimes slip through the cracks, circumventing established processes. To maintain the integrity of your asset data, continual audits are imperative.
At Reduxo, we understand the significance of this challenge, and we are committed to collaborating closely with you to tailor our asset verification service to your specific needs. As a prime illustration of our approach, we offer a comprehensive asset register maintenance solution that encompasses the identification of "new" assets and the validation of existing ones. Our service package includes all the necessary tools and software, and it encompasses the following key components:
Periodic Onsite Visits for New Asset Capture:
We conduct onsite visits at regular intervals to capture information about newly acquired assets, ensuring they are seamlessly integrated into your asset register.
Periodic Onsite Audits by Area:
To guarantee the accuracy of your asset data, we perform onsite audits periodically, organized by specific areas or zones. A customized plan will be devised to ensure that each designated area is visited within an agreed timeframe, such as 24 or 36 months.
This collaborative and proactive approach ensures that your asset data remains precise and up-to-date, preventing any potential gaps or inconsistencies in your records.
We have crunched the numbers.......based on audits we have completed and comparing those costs to the ongoing rolling audit cost, the average savings is 30%.
If you have your own mobility audit tool then we are happy to utilise it, this will ensure data is updated directly or alternatively we will supply the data in an agreed format such as Excel to upload into your solutions. Either way, it is all about having an accurate asset register that is always up to date.
Make plans and budget based on accurate asset data
Take The Next Step
You know you need that asset audit done, and we are here to help.