Download presentation
Presentation is loading. Please wait.
Published byMolly Horton Modified over 7 years ago
1
Mobile Fixed Asset Tracking and Physical Inventory Reconciliation
Solution Overview & Business ROI Justification Presented to
2
About Us Our Success Stories Awards and Recognitions
London, UK Boston, MA Waldorf, DE Houston, TX Hyderabad, India Industry Focused Mobile Workforce Management Solutions for Enterprise Asset Management (EAM) & Supply Chain Fully Configurable Toolkit with RACE™ - that supports Rapid Mobile App Development Device and Platform Agnostic across all Major Mobile OS Global Reach, 150+ Employees Awards and Recognitions Our Success Stories 2016 SAP Pinnacle Award for Platform Co-innovation Partner of the Year, beating IBM & Intel 2015 and 2014 SAP Pinnacle Award for Application Development Partner of the Year Innovapptive Strategic Partners 2016 – 20 Most Promising SAP Solution Providers by CIO Review Magazine
3
Our Understanding of Your Current Situation
MARS Global Policy requires all business units to complete a minimum % of Fixed Assets Physical Inventory each year. A comprehensive end-to-end solution identification is a priority initiative for MARS. An ideal solution covers the following: Automated Capitalization Request Form Workflow to review, edit and accept a new incoming Fixed Asset Serialization and Asset Tagging linked to Asset ID and Plant Equipment Number through Auto-Generated Bar Code or Pre-Printed Metal Bar Codes Centralized scheduling of Annual Fixed Assets Inventory by Plants/Locations with Target Dates for completion Centralized status monitoring tool to verify the status of the scheduled physical inventory of fixed assets Identified fixed assets that are potential “Ghost Assets” or “Not Found” should be scrapped, retired or transferred. KPI reports to track the end to end fixed asset management process. MARS is looking to better understand the Innovapptive solution and if this is a right fit to meet their overall objectives and goals outlined above.
4
Why an automated & fixed asset management system is needed for your enterprise?
Business that use an automated Fixed Asset Tracking System have 15% Or Less Total Cost of Ownership 30% Of all organizations do not know what they own, Where their assets are located, or who is using them You could be overpaying up to 30% or More On Taxes & Insurance of Ghost Assets Of most organizations fixed asset data is incomplete, inaccurate, or altogether missing. 65% Source: Asset Management Resources (AMR)
5
A manual paper based process is prone to error, rework and leads to inaccurate year end financial statements “SAP Provides a Comprehensive Fixed Asset Register & System of Record. We automate the disconnect between fixed asset physical inventory reconciliation, central finance teams and updates into SAP” Manual Paper Workflow Mobile Workflow Download list Of Fixed Assets Distribute Work Prioritize Work Finance Temp Assign Fixed Asset Count List Enter into Database Perform Count, Physical Inventory & Reconcile Print Fixed Assets Record Return to Office Complete Paper Work Review Data
6
Most Enterprises Are Losing Valuable Money Without a Comprehensive Fixed Asset Management Solution
Investing in a systematic bar code automated fixed asset tracking system will yield the following benefits 100% Connected Enterprise No rework, clean up. Mobile GPS & Bar Code Scanning captures Accurate data 42% Productivity Improvements Across Finance (Fixed Asset) Organization 30% Reduction in federal taxes & Insurance premiums 99% Data Accuracy Source: Asset Management Resources (AMR)
7
Fixed Asset Management Best Practices Across It’s Lifecycle
PLAN ACQUIRE INSTALL INVENTORY RESOLVE Useful Life greater than 1 year Initial cost greater than $ 5,000 Asset Classes to be tagged Machinery and Equipment Manufacturing Hardware Vending Equipment Freezer Equipment High dollar value office equipment Internal Customer or 3rd Party Assets Assets Tagged by Local BU Associate Tag Asset according to standard operating procedures Machine readable tag – Bar / QR code / Metal detectable Tag Asset during Installation Electronic Capital Request Form with Tag ID Automated Workflow Link Tag ID to Asset Master record Link PM Equipment Number to Fixed Asset Master record and Asset Tag ID Develop Asset Inventory schedule Determine Assets to Review (20%) Perform Inventory Count Interface results to SAP Produce Asset Audit Report with Inventory results Investigate Discrepancies Manage Asset Changes Retire / Scrap Missing Assets Final Inventory Reporting Report Metrics and Audit Report CONTROL AUDIT RECONCILE
8
How our solution Connects SAP Fixed Asset Register To A Comprehensive Fixed Asset Management Solution? PLAN ACQUIRE INSTALL INVENTORY RESOLVE Useful Life greater than 1 year Initial cost greater than $ 5,000 Asset Classes to be tagged Machinery and Equipment Manufacturing Hardware Vending Equipment Freezer Equipment High dollar value office equipment Internal Customer or 3rd Party Assets Assets tagged by Local BU Associate Goods Receipt against an SAP PO* Serialize and Tag Asset according to Machine readable tag – Bar / QR code / Metal detectable Auto Generate Bar Code (1D) or QR code (2D) Or Pre-Print Bar Code Numbers Tag Asset during Installation Electronic Capital Request Form with Tag ID Request for CWIP/Fixed Asset Creation Automated Workflow Link Tag ID to Asset Master record Link PM Equipment Number to Fixed Asset Master record and Asset Tag ID Review, Edit and Update Capital Request Form Data Create CWIP or Fixed Asset Master from Asset Cockpit. Determine Assets to Review (20%) Develop Asset Inventory schedule Schedule Targeted Inventory by plant, user and completion date Perform Inventory Count Interface results to SAP Produce Asset Audit Report with Inventory results Investigate Discrepancies Manage Asset Changes Retire / Scrap/Transfer Missing Assets Final Inventory Reporting Report Metrics and Audit Report CONTROL AUDIT RECONCILE Manual Process *Goods Returns and Reversals Functionality also Available
9
Innovapptive’s Comprehensive Fixed Asset Management System can be customized for the following:
Automated Capitalization Request Form Serialization and Asset Tagging linked to Asset ID and Plant Equipment Number Auto-Generate Bar Code or Apply Pre-Printed Metal Bar Codes Workflow to review, edit and accept a new incoming Fixed Asset Approval of workflow creates a new master record in SAP Fixed Master Centralized scheduling of Annual Fixed Assets Inventory by Plants/Locations with Target Dates for completion Centralized status monitoring tool to verify the status of the scheduled physical inventory of fixed assets Identified fixed assets that are potential “Ghost Assets” or incorrect statuses in SAP Fixed Assets Retire, Scrap or Transfer Assets “Not Found” Reporting and Metrics on the End to End Process
10
An Overview of Innovapptive’s Comprehensive Fixed Asset Management Solution Centralized Finance Fixed Asset Management Team’s View Centralized Physical Inventory Status Monitoring: View Status of Fixed Assets Scheduled for Physical Inventory Filter by status of Physical Inventory of Fixed Assets Retire, Scrap and Transfer Fixed Assets to SAP Centralized Fixed Asset Physical Inventory Scheduler to: Select Fixed Assets for Physical Inventory Assign to Target Plant, Users and Target Dates Dispatch to mobile device list of fixed assets to Accept/Reject, Edit Fixed Asset Capitalization Forms Review Fixed Asset Capitalization Request Forms Edit & Update Capitalization Request Form Submit for review/approval workflow to create Asset in SAP Fixed Asset Physical Inventory KPI Report: Monitor Fixed Asset Physical Inventory Completion Volume Monitor “Ghost Assets” or “Not Found” Assets
11
An Overview of Innovapptive’s Comprehensive Fixed Asset Management Solution Asset Master Cockpit – Review Incoming Fixed Asset Capitalization Forms Centralized Finance Team’s View of Incoming Capitalization Request Edit & Update Incoming Capitalization Fixed Asset Data; Submit for Approval to SAP Incoming Capitalization Request Form From Field
12
Automatically Geocode Assets
An End to End and a Comprehensive Fixed Management System for Scheduling, Tagging, Status Monitoring and Updates to SAP Plant A Role: Fixed Asset Manager 1 Assignment of Asset Lists with Target Completion Date Plant B 2 Push Notifications 3 Scan and Tag Assets 4 Automatically Geocode Assets Asset Scheduler Report Asset Inventory Report Inventory Status Report 7 Reporting and Metrics 5 Asset Not Found Retire Asset Scrap Asset Transfer Assets & Update Asset Master 6 Update SAP Fixed Asset Master Data with Inventory Status
13
An Overview of Innovapptive’s Comprehensive Fixed Asset Management Solution Fixed Asset Physical Inventory Scheduling Assign Fixed Assets for Physical Inventory by User Target Completion Date Expiration Date Search For Fixed Assets By Plant
14
An Overview of Innovapptive’s Comprehensive Fixed Asset Management Solution Automation of Physical Inventory of Fixed Assets in the Field
15
An Overview of Innovapptive’s Comprehensive Fixed Asset Management Solution Monitor Fixed Asset Physical Inventory Status Monitor Status of Fixed Asset Physical Inventory Update SAP for “Ghost” Assets and “Not Found” status with appropriate status Retired Transferred Scrapped
16
An Overview of Innovapptive’s Comprehensive Fixed Asset Management Solution Fixed Asset KPI Report
Fixed Asset Physical Inventory KPI Monitoring Target Volume vs. Actual Volume Target Completion Date vs. Actual Completion Date
17
The Business Case For a Fixed Asset Management Solution
Assumptions Total Number of Users 50 Total Number of Assets 25,000 Asset Average Value $ 15,000 Estimated Total Asset Value $375,000,000.00 Source: Innovapptive ROI calculator based on reference client experiences
18
(Conservative for 50% of Innovapptive mAssetTag Across an Enterprise)
The Business Case For a Fixed Asset Management Solution (Contd.) Assumptions Total Number of Users 20 Total Number of Assets 5000 Asset Average Value $ 5000 Estimated Total Asset Value $25,000,000.00 Annual Savings $3,965,625.00 (Conservative for 50% of Innovapptive mAssetTag Across an Enterprise) Source: Innovapptive ROI calculator based on reference client experiences
19
Thank You !
Similar presentations
© 2025 SlidePlayer.com. Inc.
All rights reserved.