Fixed Assets Consulting - Consulting Solutions | ANEPSA Global
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Fixed assets are critical to the operation and success of any business, providing a steady base of revenue and support for daily activities. These assets include both physical resources, such as machinery and facilities, and intangibles, such as patents and software. Maintaining these assets in top condition and efficiently managing their value is crucial to ensuring the long-term stability and growth of the business. Fixed asset consulting focuses on delivering strategies and solutions to maximize performance, extend useful life, and optimize the utilization of these valuable resources.
Types of Fixed Assets on which we offer consulting
Fixed assets are tangible assets acquired by an enterprise for use in its long-term operations, rather than for sale in the normal course of business. These assets provide lasting benefits to the entity and are categorized into several classes for proper management:
- Lands: They include all parcels of land owned by the company, whether urban or rural.
- Constructions in progress: Works that are in the construction phase and are not yet finished for use.
- Own buildings: Real estate properties belonging to the company, such as offices, factories, commercial premises, and other properties.
- Facilities and Improvements in Leased Properties: Modifications and improvements made to rented properties that add value to the entity.
- Machinery and Equipment: Industrial equipment, tools and machinery necessary for the daily operational functioning of the company.
- Operation Team: Specialized equipment used in daily operations, which may include specific machinery for production or processing.
- Furniture and Household Goods: Office furniture, shelves, desks, and other items used in the work environment.
- Computer Equipment: Includes computers, servers, and other technological devices used in the management and execution of operations.
- Transportation Equipment: Company-owned vehicles intended for the transport of people, goods or equipment, such as trucks, vans, and cars.
- Controllable Equipment: Devices or systems that can be monitored and managed to ensure their efficiency and functionality.
- Leased/Loaned Equipment: Goods that the company uses under a lease or loan agreement, instead of being its property.
Impact of Fixed Assets on the Company
Proper management of fixed assets has a significant impact on various areas of a business. Effective control not only maximizes operational benefits, but also ensures regulatory compliance and optimal financial management. Below are the main impacts that fixed assets have on the business:
- Fiscal Impact
A comprehensive record of all fixed assets facilitates compliance with tax obligations. Having a detailed and up-to-date inventory allows:
- Regulatory Compliance: Ensure all assets are properly documented for tax reporting purposes and avoid penalties for errors or omissions.
- Tax Management: Optimize tax deductions related to asset depreciation and other associated tax benefits.
- Financial Impact
Effective control of fixed assets directly influences the financial health of the company:
- Income and Expense Visibility: It allows an accurate analysis of the income generated by the assets and the associated expenses, including maintenance and operation costs.
- Depreciation Calculation: It facilitates the calculation of asset depreciation, which is crucial for financial accounting and determining profitability. This in turn affects the company's valuation and its financial reporting.
- Operational and Strategic Impact
Proper management of fixed assets also has important effects on daily operations and long-term strategy:
- Operational Efficiency: Rigorous monitoring ensures assets are in good condition, minimizing downtime and optimizing operational efficiency.
- Planning and Budgeting: Facilitates planning for asset replacements and upgrades, as well as accurate budgeting for future investments.
- Impact on Asset Valuation
Asset control and management also affect the overall valuation of the company:
- Market Value: Well-managed inventory and proper maintenance can increase the market value of the company by demonstrating efficient management of resources.
- Asset Evaluations: It enables accurate asset assessments for operations such as sales, acquisitions or mergers, contributing to informed strategic decisions.
Fixed Assets Consulting Solutions
With the adoption of the International Financial Reporting Standards (IFRS), both public and private companies face new challenges in fixed asset management. These challenges include compliance with accounting valuation requirements and audits of physical asset inventory. To effectively address these challenges, it is recommended to implement the following consulting solutions:
- Analysis and Diagnosis of the Asset Registry
A thorough analysis of the asset register is essential to ensure its accuracy and completeness. This process involves reviewing and validating all relevant details of each asset, including the date of acquisition, cost, location and current condition. Identifying and correcting errors in the register allows for more accurate management and reliable valuation of assets.
- Physical Inventory and Reconciliation
Conducting a physical inventory is crucial to verify the existence, condition, and location of assets. This process includes visual inspections and tagging assets with barcodes, QR codes, or RFID tags to facilitate their identification and tracking. A reconciliation between the physical inventory and the data recorded in the accounting system must then be performed to ensure the consistency and accuracy of the information.
- Multifunctional Asset Valuation
Asset valuations must be conducted for a variety of purposes, including financial, accounting, insurance, tax, and regulatory purposes. These valuations provide an accurate estimate of the current value of assets, taking into account factors such as depreciation, wear and tear, and market conditions. This multi-functional approach ensures that assets are appropriately valued according to different needs and contexts.
- Asset Life Review
It is essential to periodically review the estimated useful life of assets to ensure that they operate within the expected parameters. This review allows for identifying opportunities to extend the useful life through adequate maintenance or, failing that, to plan the updating or replacement of assets at the end of their life cycle.
- Identifying Opportunities to Accelerate Depreciation
Analyzing assets can identify opportunities to accelerate the depreciation of assets that are near the end of their useful life. This approach can offer tax benefits to the company through accelerated depreciation deductions, thus optimizing the tax management of assets.
- Technological Solutions with RFID
The RFID (Radio Frequency Identification) technology provides advanced solutions for automation in asset identification and tracking. These systems improve the accuracy and efficiency of asset management, reducing errors and optimizing inventory and location processes.
- Fixed Asset Management Software Implementation
Implementing specialized fixed asset management software is crucial for efficient management. This type of software offers features such as real-time tracking, customized reports, maintenance alerts, and regulatory compliance. These tools facilitate more effective and transparent management of all company assets, contributing to a smoother and more well-organized operation.
Key Features of Asset Management Software
Asset management software is essential for the efficient management of a company's resources. This type of system provides a number of key functionalities that optimize the management and control of fixed assets. Below are the main functions of asset management software:
- Integrated Asset Data Management
An asset management system provides a complete view of the lifecycle of each asset. It automates the tracking of detailed information such as current status, location, performance, acquisition cost, contract terms, maintenance history, and depreciation. It also identifies and highlights underperforming assets, enabling more efficient management and a clear view of assets across the organization.
- Maintenance Data Management
Regular maintenance is essential to prolong asset life and meet warranties. Asset management software makes it easy to track maintenance activities in detail, including dates, technicians involved, parts used, and services performed. It also provides a detailed history, enables planning for future maintenance, and analyses cost and downtime trends, facilitating proactive and efficient maintenance management.
- Reports and Analysis
The ability to generate detailed reports is crucial for informed decision making. A good asset management system should offer reports on asset performance, downtime, repair history, and service life. These reports should be easily accessible and shareable, allowing decision makers to assess asset health and plan corrective or strategic actions.
- Data Security
Protecting asset information is essential to the integrity of business operations. Software should have robust security protocols in place, including role-based access controls, data encryption, regular updates, disaster recovery, and scheduled backups. These measures ensure that data is protected from unauthorized access and potential loss.
- Integration and Customization
Modern asset management systems must integrate with mobile devices to facilitate management in the field. In addition, it is essential that the software is flexible and customizable, adapting to the specific needs of the organization. This includes the ability to configure asset data, work orders, and documentation according to the particular requirements of each company.
- Automation and Optimization
Automating repetitive tasks and streamlining processes are key features of asset management software. By reducing the need for manual intervention, the system improves operational efficiency and minimizes the risk of errors. Automation features include maintenance scheduling, warranty expiration alerts, and reminders for data updates.
Application Example: SAAF Software
SAAF software exemplifies a comprehensive asset management solution. It offers an automated approach to asset tracking, providing detailed information on asset status, location, performance and depreciation. It also identifies less productive assets to optimize their use and efficiently manage the entire asset lifecycle.
How Does SAAF Help You?
SAAF, an advanced fixed asset management solution developed by ANEPSA Group, offers a comprehensive approach to asset control and management. This state-of-the-art platform is designed to adapt to the specific needs of each client, facilitating efficient asset management from various perspectives, whether operational, maintenance or financial.
Key Benefits of SAAF:
- Comprehensive Asset Management
SAAF provides a robust solution for fixed asset management, ensuring comprehensive, real-time monitoring. The platform enables complete management, from asset acquisition to disposal, including maintenance and tax assessments.
- Advanced Administrative Functions
- Real-Time Report Generation: SAAF facilitates the creation of detailed reports on all asset-related operations, enabling effective monitoring and informed decision making.
- Access to Tokens via QR: Users can access asset information by scanning QR codes from any internet-connected device, simplifying data query.
- Change Control and Permissions: The platform manages permissions and authorizations according to the user profile, ensuring rigorous control over the changes made.
- Editable Dashboard: It offers a customizable dashboard for a clear visualization tailored to the user's needs.
- Barcode and QR Code Generation: Facilitates the identification and tracking of assets using barcodes and QR codes.
- Format Customization: Modules and formats are tailored to company specifications, ensuring they fit their processes and requirements.
- Cloud Application or Web Service: SAAF is available both in the cloud and as a web service, providing flexibility and accessibility.
- Uploading Documents: Allows the upload of photographs, invoices and other important documents related to the assets.
- Multi-Company Management: Facilitates the management of multiple companies from a single platform.
- Creating Users and Profiles: Allows the creation and management of different users and profiles with specific access and permissions.
- Change History: Provides a detailed record of all changes made to each asset.
- Import and Export Data: Allows integration with other databases through import and export functions.
- Competitive Advantages
- Asset Location and Control: Provides real-time visibility into asset location and status, improving management and reducing losses.
- Asset History: Maintains a comprehensive record of the history of each asset, including depreciations, write-offs and restatements.
- Safekeeping and Traceability: It controls the safekeeping of assets and ensures their traceability, which facilitates their location and monitoring.
- Compatibility and Flexibility: SAAF is compatible with other software, integrating seamlessly into the company's technological ecosystem for more efficient management.
