Facility Management

Facility Management is process, act and maintenance of an organization’s buildings and equipment.

Asset Tagging is the process of affixing labels, tags, radio frequency identification (RFID) on fixed or moveable assets to identify various assets throughout their useful life.
Benefits for Asset Tagging/Register
The benefits of creating and maintaining a fixed asset register
It is essential for an organisation to maintain an accurate asset register to provide knowledge as to where an asset is and in what condition it is in.

Listed below are just some of the key benefits, which can be achieved from getting a fixed asset register in place:

  • Provides complete information on asset status, history and location for audit trail purposes.
  • Assists in complying with statutory requirements such as IFRS, FIRS and GAAP.
  • Ensures that the balance sheet reflects an accurate fixed asset value.
  • Provides an accurate reference to ensure that the appropriate level of insurance is in place, which in turn avoids the overpayment of insurance premiums.
  • Facilitates a quick and easy asset audit and verification process.
  • Simplifies month and year-end processes when asset data is up to date.
  • Improves asset utilisation across the business and avoids the duplication of asset purchases.

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