Companies spend millions of dollars every year purchasing assets for their employees and offices around the world. While often care is taken to enter these purchases into the financial books of the company, most often the asset is not tracked from then on.
The question that causes nightmares for financial managers everywhere is - do the assets carried in our books match the assets we actually have on site?
A physical verification of assets is thus an essential activity that should be carried out regularly or at least once every financial year to enable finance managers to accurately reconcile their books.
SGE’s proprietary methodology and technology to physically verify assets and develop accurate asset registers for Financial Managers to reconcile their assets has proven to be the need of the hour across industries, specifically in the Middle East where asset tracking and management is still a manual process.
SGE experts conduct a line-by-line study of the client’s financial records and update the client’s asset register through a physical asset audit. This is done using the latest technology and our in-house developed App. The end result is a verified, accurate Asset Register that reflects actual count of assets on site, plus unrecorded additions and disposals. This forms a sound basis for finance departments to reconcile their assets and books.
Further more, SGE’s Web and Mob Asset Management App also allows clients to continue to add, track, manage and maintain assets throughout their lifecycle. So even when our expert team leaves your company site, you can be assured of accurate and balanced books year after year.
Advantages of physical asset verification and reconcialiation