Description
The Melanesian Spearhead Group (MSG) is an intergovernmental organization, composed of the four Melanesian states of Fiji, Papua New Guinea, Solomon Islands and Vanuatu as well as the FLNKS of New Caledonia.
SPEARHEAD GROUP
Managed Services
BPO Services
1
Fixed Assets Management
Succinct
2
Fixed Assets Management - Premise
Management Perspective
Assist the company management to exercise better control on the fixed assets owned; make the process of tracking FA simpler, affordable and efficient.
Legal Perspective
Assist the company in fulfilling the legal compliances viz., Customs and STPI related requirements by providing off-hand information.
Statutory Perspective
Assist the company in fulfilling all the statutory requirements under the Indian Companies Act, Income Tax Act, Information Technology Act etc.,
3
Fixed Assets Management – Importance
Eases the burden of the company management on asset tracking. One time exercise of uploading and coding the existing assets brings better control. Perpetual updations of asset movements and additions into the asset management system helps keep the asset records online. Real time reporting and asset tracking. Depreciation calculation made easier. Provision to measure effective usage of IT assets through special tools. Excellent cost – benefit ratio
4
Fixed Asset Management - Work Flow.
Data Collation / Physical Verification
Checks and Balances
Data Backup
3 way Reconciliation with the books of accounts, purchase documents, data and the physical verification data.
Upload Old Asset data into the tracker software
Generation and affixing of barcodes
Complete control over asset tracking and flexibility in asset management.
End
5
Fixed Asset Management – Process
1. Collation of Data
Preparation of a comprehensive asset registers with complete details of assets viz., the serial number, technical specifications, purchase bill details, bill of entry details, asset status (outright purchase, loaned, sample etc.,) Reports: Comprehensive Asset Register with complete asset history.
2. Physical Verification and Identification
Physical Verification of the asset and data capture viz., the technical specifications, location, user, other details etc., of the assets. Sign-off from the department heads for the list of assets under their control. Preparation of an asset register with reference to the books of accounts. Physical Verification stickers to be put on the assets. Reports: Variance reports for un-traceable assets, un-identifiable assets etc.,
6
Fixed Asset Management – Process
3. Reconciliation with the books of Accounts,Records
Reconciliation with the Physical Verification registers and the books of accounts to synchronise the records and make a common link. details etc., of the assets. Preparation of a comprehensive asset register with complete history of the asset and links to the books of accounts and the bond registers. Also details of local purchase / import purchase. Reports: Comprehensive Variance Reports at each stage I.e Books v/s FAR, Books v/s FAR, Books v/s Bond etc.,
4. Bar Coding of Assets
Complete Bar Coding and tracking solution for better control over the Fixed Assets.
7
Asset Management Software – Capabilities and Reporting Dynamic software to match the needs of the organization; open ended to customisation. Software to reside on a Central Server and will serve enterprise wide. History tracking from the point of purchase to the asset maintenance etc., Provision to track the work flow and resource allocation of each asset project wise, user wise etc., Physical Inventory verification with great ease of process. Patch up auto discovery tool; an application which uses the TCP / IP protocol to travel through the LAN and discover the technical details of each IT asset hooked on the network.
8
Asset Management Software – Asset Tracking
Software tracks the assets enterprise wide with equal weight age to additions, deletions, intra-unit movements, sales, retrials, obsolescence, depreciation etc., Software generates a delivery/movement document with manual intervention for each intra-unit movement of assets; this can be accompanied with the physical movement. Recipient location acknowledges the receipt of the asset by closing the open DC in the software and hence the asset is added to the recipient location and deleted from the sending location. This process reduces the problem of missing assets and difficulty in physical verification. Department wise asset reports can be had online and updated dynamically through the software. Calculation of department wise machine hour rates and depreciation becomes easier.
9
Bar Coding and Asset Tracking
Asset Management process is in-complete unless the assets are tagged with Bar Codes for easy identification. Physical verification of assets on resident basis and movement basis becomes easier with handheld scanners to capture entire asset data with a single swipe. Asset tracking software does a comprehensive tracking of the asset history, movement, technical specifications, statutory specifications, depreciation etc.,
10
Bar Coding – Process:
Entire Asset History and all the relevant data is captured into the asset tracking software from the data base created in the form of Excel spreadsheets. Bar Code stickers are generated using bar code printers with relevant asset data viz., Bond Number, Asset Description, Book Asset Number, location etc., Bar Code stickers are affixed at a prominent and accessible place on the asset. Newly procured asset details can be appended in to the software manually and bar codes can be generated. All classes of assets viz., IT assets and Non-IT assets are covered.
11
Asset Tracking Process using Bar Codes
Every time an asset movement happens the bar code on the asset can be scanned with the hand held scanner and data can be captured from the sending location and is scanned again at the recipient location; the software tracks the movement and updates addition/deletion in respective locations. On every instance of physical verification of assets bar code scanners can be taken around the premises and codes can be scanned which will be stored in the hand held device. Hand held scanner is connected to the computer and the data is ported to the asset tracking software. Live updations for any change in asset locations in done on the software. Software throws out variance reports and exception reports.
12
Data Upload Process
ERP F.A.R
ERP Expense. account
Pro-track S/w
From Excel file
Manual Update
13
Data Capabilities of the Fixed Asset Register
General Information Asset Description Model Useful life Cap. Month Bond No.
Purchase Details Bond/Non bonded Inv # Inv Dt Supp Code Mfg Code GRN # GRN Dt Qty Warranty Date Mfg. Sl.no CIF Other BOE No.
14
Total
Control Data
FAR
Data Capabilities of the Fixed Asset Register Control Data
Foreign exh currency rate.
ERP Asset Tag no Voucher No. Control Status
As per FA Dep %.
Addition By Addition Date Updated By Updated Date
FAR
Movement Flag Movement Date Active User Entry Month 15
Data Capabilities of the Fixed Asset Register
Location SBU Classification Category Sub Category Asset # Asset Tag Code Cost Center Building Department Employee Account Code Comp Dep % IT Dep % Cubical
FAR
Floor Wing16
Reporting Capabilities – Tracking Maintain the FAR(Fixed Asset Register) Tracking the Movement of Asset Depreciation Calculation (Comp Act’s, IT Acts) Asset Sales / Scrap Physical Asset Verification Warranty / AMC / Insurance / Repair Up gradation of Asset value
17
Reporting Capabilities – Tracking Work Flow, Resource allocation reports Location wise Depreciation Calculation Data Synchronization between Branch and HO Auto Discovery Reports Provision for Data Integration to ERP Software Security and Authorization Reports (Standard and Customized)
18
Plan of Action:
Approach the User Departments with a complete ABC analysis of the Fixed Asset Register data. Physically identify the category A & B items and tag them with physical verification stickers. Update the asset tracking software with the asset data. Generation of the bar code labels and affixing on the assets. Circulation of the variance and exception reports to the departments units to address specific issues.
Role of the Business Units:
Co-operation from the departments by identifying one dedicated resource well versed in the technicalities of the asset; to be with the asset management team full time until a specific business unit is fully covered in all respects including bar coding. Help the asset management team to identify the assets. Work with the asset management team on week ends as requried. Sign-off the physical verification data as a concurrence measure.
19
Metrics
Deputation of resources under senior supervision for creation of the softcopy of the Fixed Assets Register with complete details corresponding to the underlying documents. Complete asset purchase details from the agreed period viz., purchase bills, bills of entry, delivery challans, installation reports, bond registers etc,. as may be required in one place and in one piece. Logistics and Data Support as may be to be required. Comparison of the softcopy of the asset register with the existing physical verification data to map the assets physically found and recorded in the books. In case the mapping factor is less than or equal to 80% of A & B Category items; physical verification of the entire lot of assets to be carried out. Client to provide fully functional computer systems across it’s locations until final closure of the assignment. Client to designate one official as focal for the entire assignment to save on time and effort. Communication to be sent out to all the concerned officials with copies to us on the impending activity and physical verification. One responsible official from each Business Unit to present with the verification team on the day of verification and ensure sign-off. Required access to be given to our officials in all the locations.
20
Spearhead team has got ample experience, required expertise and manpower in the area of Fixed Asset Management and has provided similar services to the below clients. ING Vysya Bank Ltd., Hewlett Packard India Sales Pvt Ltd., Dell International Services Ltd., - India Tata Elxsi Limited., IBM Ltd., Lucent Technologies Ltd., Trianz Software., GVK Biotech Honeywell Technology Solutions
21
ACCOMPLISHMENTS
Rated as ‘BEST’ by most of the MNCs’ Apt Man-Management experience of almost a decade Interaction with Client’s Business partners at various locations including overseas to ensure smooth flow of work Business Process Re-Engineering including installation of manmanagement systems, pay structures, tax planning, Costing methods, internal control methods, MIS reporting etc., Delivering Personalized Services Hands on Experience In All Related Areas Strong Clientele Base Hands on Experience on all related spheres of work
22
OUR STRENGTHS
QUALITY Bridge between client’s global standards and local needs through customization Continuous customer engagement Value for money approach Comprehensive business process management
Why us ?
Ease of doing business Cost effective infrastructure Single point client management Comprehensive compliance management Built in check & balances for internal control Confidentiality Integrity Moving towards ISO Certification More a business partner than a service provider
23
OUR MISSION
EXCELLENCE IN WORK THROUGH EMPOWERMENT, EXUBERANCE AND TEAMWORK.
24
doc_385279494.pdf
The Melanesian Spearhead Group (MSG) is an intergovernmental organization, composed of the four Melanesian states of Fiji, Papua New Guinea, Solomon Islands and Vanuatu as well as the FLNKS of New Caledonia.
SPEARHEAD GROUP
Managed Services
BPO Services
1
Fixed Assets Management
Succinct
2
Fixed Assets Management - Premise
Management Perspective
Assist the company management to exercise better control on the fixed assets owned; make the process of tracking FA simpler, affordable and efficient.
Legal Perspective
Assist the company in fulfilling the legal compliances viz., Customs and STPI related requirements by providing off-hand information.
Statutory Perspective
Assist the company in fulfilling all the statutory requirements under the Indian Companies Act, Income Tax Act, Information Technology Act etc.,
3
Fixed Assets Management – Importance
Eases the burden of the company management on asset tracking. One time exercise of uploading and coding the existing assets brings better control. Perpetual updations of asset movements and additions into the asset management system helps keep the asset records online. Real time reporting and asset tracking. Depreciation calculation made easier. Provision to measure effective usage of IT assets through special tools. Excellent cost – benefit ratio
4
Fixed Asset Management - Work Flow.
Data Collation / Physical Verification
Checks and Balances
Data Backup
3 way Reconciliation with the books of accounts, purchase documents, data and the physical verification data.
Upload Old Asset data into the tracker software
Generation and affixing of barcodes
Complete control over asset tracking and flexibility in asset management.
End
5
Fixed Asset Management – Process
1. Collation of Data
Preparation of a comprehensive asset registers with complete details of assets viz., the serial number, technical specifications, purchase bill details, bill of entry details, asset status (outright purchase, loaned, sample etc.,) Reports: Comprehensive Asset Register with complete asset history.
2. Physical Verification and Identification
Physical Verification of the asset and data capture viz., the technical specifications, location, user, other details etc., of the assets. Sign-off from the department heads for the list of assets under their control. Preparation of an asset register with reference to the books of accounts. Physical Verification stickers to be put on the assets. Reports: Variance reports for un-traceable assets, un-identifiable assets etc.,
6
Fixed Asset Management – Process
3. Reconciliation with the books of Accounts,Records
Reconciliation with the Physical Verification registers and the books of accounts to synchronise the records and make a common link. details etc., of the assets. Preparation of a comprehensive asset register with complete history of the asset and links to the books of accounts and the bond registers. Also details of local purchase / import purchase. Reports: Comprehensive Variance Reports at each stage I.e Books v/s FAR, Books v/s FAR, Books v/s Bond etc.,
4. Bar Coding of Assets
Complete Bar Coding and tracking solution for better control over the Fixed Assets.
7
Asset Management Software – Capabilities and Reporting Dynamic software to match the needs of the organization; open ended to customisation. Software to reside on a Central Server and will serve enterprise wide. History tracking from the point of purchase to the asset maintenance etc., Provision to track the work flow and resource allocation of each asset project wise, user wise etc., Physical Inventory verification with great ease of process. Patch up auto discovery tool; an application which uses the TCP / IP protocol to travel through the LAN and discover the technical details of each IT asset hooked on the network.
8
Asset Management Software – Asset Tracking
Software tracks the assets enterprise wide with equal weight age to additions, deletions, intra-unit movements, sales, retrials, obsolescence, depreciation etc., Software generates a delivery/movement document with manual intervention for each intra-unit movement of assets; this can be accompanied with the physical movement. Recipient location acknowledges the receipt of the asset by closing the open DC in the software and hence the asset is added to the recipient location and deleted from the sending location. This process reduces the problem of missing assets and difficulty in physical verification. Department wise asset reports can be had online and updated dynamically through the software. Calculation of department wise machine hour rates and depreciation becomes easier.
9
Bar Coding and Asset Tracking
Asset Management process is in-complete unless the assets are tagged with Bar Codes for easy identification. Physical verification of assets on resident basis and movement basis becomes easier with handheld scanners to capture entire asset data with a single swipe. Asset tracking software does a comprehensive tracking of the asset history, movement, technical specifications, statutory specifications, depreciation etc.,
10
Bar Coding – Process:
Entire Asset History and all the relevant data is captured into the asset tracking software from the data base created in the form of Excel spreadsheets. Bar Code stickers are generated using bar code printers with relevant asset data viz., Bond Number, Asset Description, Book Asset Number, location etc., Bar Code stickers are affixed at a prominent and accessible place on the asset. Newly procured asset details can be appended in to the software manually and bar codes can be generated. All classes of assets viz., IT assets and Non-IT assets are covered.
11
Asset Tracking Process using Bar Codes
Every time an asset movement happens the bar code on the asset can be scanned with the hand held scanner and data can be captured from the sending location and is scanned again at the recipient location; the software tracks the movement and updates addition/deletion in respective locations. On every instance of physical verification of assets bar code scanners can be taken around the premises and codes can be scanned which will be stored in the hand held device. Hand held scanner is connected to the computer and the data is ported to the asset tracking software. Live updations for any change in asset locations in done on the software. Software throws out variance reports and exception reports.
12
Data Upload Process
ERP F.A.R
ERP Expense. account
Pro-track S/w
From Excel file
Manual Update
13
Data Capabilities of the Fixed Asset Register
General Information Asset Description Model Useful life Cap. Month Bond No.
Purchase Details Bond/Non bonded Inv # Inv Dt Supp Code Mfg Code GRN # GRN Dt Qty Warranty Date Mfg. Sl.no CIF Other BOE No.
14
Total
Control Data
FAR
Data Capabilities of the Fixed Asset Register Control Data
Foreign exh currency rate.
ERP Asset Tag no Voucher No. Control Status
As per FA Dep %.
Addition By Addition Date Updated By Updated Date
FAR
Movement Flag Movement Date Active User Entry Month 15
Data Capabilities of the Fixed Asset Register
Location SBU Classification Category Sub Category Asset # Asset Tag Code Cost Center Building Department Employee Account Code Comp Dep % IT Dep % Cubical
FAR
Floor Wing16
Reporting Capabilities – Tracking Maintain the FAR(Fixed Asset Register) Tracking the Movement of Asset Depreciation Calculation (Comp Act’s, IT Acts) Asset Sales / Scrap Physical Asset Verification Warranty / AMC / Insurance / Repair Up gradation of Asset value
17
Reporting Capabilities – Tracking Work Flow, Resource allocation reports Location wise Depreciation Calculation Data Synchronization between Branch and HO Auto Discovery Reports Provision for Data Integration to ERP Software Security and Authorization Reports (Standard and Customized)
18
Plan of Action:
Approach the User Departments with a complete ABC analysis of the Fixed Asset Register data. Physically identify the category A & B items and tag them with physical verification stickers. Update the asset tracking software with the asset data. Generation of the bar code labels and affixing on the assets. Circulation of the variance and exception reports to the departments units to address specific issues.
Role of the Business Units:
Co-operation from the departments by identifying one dedicated resource well versed in the technicalities of the asset; to be with the asset management team full time until a specific business unit is fully covered in all respects including bar coding. Help the asset management team to identify the assets. Work with the asset management team on week ends as requried. Sign-off the physical verification data as a concurrence measure.
19
Metrics
Deputation of resources under senior supervision for creation of the softcopy of the Fixed Assets Register with complete details corresponding to the underlying documents. Complete asset purchase details from the agreed period viz., purchase bills, bills of entry, delivery challans, installation reports, bond registers etc,. as may be required in one place and in one piece. Logistics and Data Support as may be to be required. Comparison of the softcopy of the asset register with the existing physical verification data to map the assets physically found and recorded in the books. In case the mapping factor is less than or equal to 80% of A & B Category items; physical verification of the entire lot of assets to be carried out. Client to provide fully functional computer systems across it’s locations until final closure of the assignment. Client to designate one official as focal for the entire assignment to save on time and effort. Communication to be sent out to all the concerned officials with copies to us on the impending activity and physical verification. One responsible official from each Business Unit to present with the verification team on the day of verification and ensure sign-off. Required access to be given to our officials in all the locations.
20
Spearhead team has got ample experience, required expertise and manpower in the area of Fixed Asset Management and has provided similar services to the below clients. ING Vysya Bank Ltd., Hewlett Packard India Sales Pvt Ltd., Dell International Services Ltd., - India Tata Elxsi Limited., IBM Ltd., Lucent Technologies Ltd., Trianz Software., GVK Biotech Honeywell Technology Solutions
21
ACCOMPLISHMENTS
Rated as ‘BEST’ by most of the MNCs’ Apt Man-Management experience of almost a decade Interaction with Client’s Business partners at various locations including overseas to ensure smooth flow of work Business Process Re-Engineering including installation of manmanagement systems, pay structures, tax planning, Costing methods, internal control methods, MIS reporting etc., Delivering Personalized Services Hands on Experience In All Related Areas Strong Clientele Base Hands on Experience on all related spheres of work
22
OUR STRENGTHS
QUALITY Bridge between client’s global standards and local needs through customization Continuous customer engagement Value for money approach Comprehensive business process management
Why us ?
Ease of doing business Cost effective infrastructure Single point client management Comprehensive compliance management Built in check & balances for internal control Confidentiality Integrity Moving towards ISO Certification More a business partner than a service provider
23
OUR MISSION
EXCELLENCE IN WORK THROUGH EMPOWERMENT, EXUBERANCE AND TEAMWORK.
24
doc_385279494.pdf