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Scope
- End to End Fixed Assets Management (FAM) Solution comprising of physical verification, variance identification, reconciliation of quantity & values with the books, updation of new FAM software, coding & tagging of assets and sharing a sustainability guidebook for future verification and management by the management.
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Approach
- Study of existing SOP & FAR
- Design & facilitation of Entity Level Controls
- Design & Operating Effectiveness – Mega Processes
- Suggesting remediation action for deficient controls
- Process Owner and Board & Audit Committee sign off
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Delivery
- Physical verification sheets
- Updated Fixed Assets register tallying with above & books
- Bar coded / Tagged assets
- Location mapping in System
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Value Added
- Identified assets not recorded in the FAR worth lakhs
- Did tagging of 26k+ assets
- One time System entry
- Identification of suspect cases of Frauds
Project Details
- Sector: Healthcare
- Region: Mumbai
- Year: 2015-16-17
- Solution: End to End Fixed Assets Management Solution
- Team Size: 33