Asset Identification & Verification (AIV)
The purpose of our AIV process is first and foremost to deliver an accurate asset register aligned to the client's requirements (Financial and Operational) as well as industry best practices and industry standards such as ISO 55000, IFRS, GRAP, GAAP, PFMA, MFMA
Get rid of the UNKNOWN
With our AIV process we aim to answer the following questions that most organisations struggle with:
What assets do I own and where are they located?
Are all my assets uniquely identifiable and marked e.g. with a bar coded label?
What are the characteristics of my assets and in what condition is my assets?
Am I tracking the movements of my assets properly or at all?
Is my asset tree hierarchy/ structure-built aligned to my operational and reporting requirements?
Is my asset register verified and aligned to my auditor's standards and requirements?
When will certain assets require replacement and what is the value of my existing asset inventory?
A Well Defined & Proven Methodology
We have defined, refined and optimised our AIV processes and methodologies over a number of years and a vast number of projects, experiences and industries. EAMS has a committed and dedicated team of professionals who's sole focus within the organisation is to deliver quality, professional and transparent asset verification services to our clients. Utilising our in-house productivity tools, technologies and applications we have developed.
Typical AIV Deliverables
Although these projects and project deliverables differ from client to client, there are some key deliverables that forms the foundation of our process and they are:
Development of Asset Labelling and Data Collection Standards
Revision/ Refinement of a client's existing asset register standards and asset tree functional levels
Properly recorded and documented data quality management procedures
Delivery of collected data into the format required for take-on into the client's existing management software
Assisting the client with importing of collected data into the client's existing management software (i.e Fiix, SAP, Maximo, SAGE and various others)
Asset Condition and Impairment Reports
Linking and Balancing of verified assets with client's existing asset register as well as client's financial asset register
Photo inventory of all verified assets
GEO Mapping of all identified and verified assets
Guidance and Training in proper Asset Register Administration
Each project presents its own set of challenges and requirements, and as such our AIV team does not work in isolation but rather includes client staff and stakeholders in the whole process. This ensures client inclusion, data ownership and a sustainable solution the client can use going forward.
Custom Mobile Application
EAMS has developed a comprehensive suite of mobile applications that is completely customised to the project and the client's requirements.
All our data collection apps comes standard with built-in safety and risk reporting, barcode and QR code scanning, customised drop-downs, look-ups, GEO Location Recording, User access restrictions, File scanning and uploading, On-device sign-off and report generation and distribution capabilities.
Manually collecting and capturing large volumes of data is time consuming and can be fraught with human error. In conjunction with our app suite, our field teams uses mobile hand-held devices to speed up the process and improve the accuracy of the data that is collected.
High Level AIV Project Delivery Model
Used to define and record client requirements as well as establish project execution plan and schedule
Present pilot data, reports and standards to ensure alignment to client expectations & requirements
Project teams deployed to the field in line with agreed project plan
Ensure project deliverables are met in line with client requirements & agreed scope
All project reports presented to client with close-out
Align field teams and data managers to project scope, client requirements and standards.
Pilot defined asset register standards and quality procedures
Collected data reviewed, physical site visits conducted to confirm data quality & alignment to agreed standards
All collected data reviewed, cleaned, linked & balanced and presented as reequired
Client staff trained in asset register standards as well as proper asset register administration processes
Asset Labels, we've got you covered!
It is sometimes difficult to know what type of label to apply to your assets. Lean on our experience to assist and guide you through the literally hundreds of variations, sizes and designs of asset labels out there. Apart from our AIV service, we also supply asset labels to clients that can range from the very simple to the quite intricate. The high-definition print quality on the labels permits the inclusion of company logos and descriptive text on a label in single or multi-colour, even on a small label, resulting in a barcode which is attractive and ideal for scanning equipment.
How to set up asset naming conventions for better maintenance
Give your maintenance guys a brief verbal description of a repair and they’ll know exactly what you’re talking about. “Which generator unit? The one in the storage room in the sub facility by the tool shelf? Gotcha!”
Four Ways to Organize your Asset Hierarchy and Locate Assets
Assets in your CMMS are arranged in a hierarchal structure, kind of like folders and files are laid out on your computer.