Addressing Complex Business Issues With Asset Inventory Services

Verasset provides a specialized value offering that extends beyond simply counting items. We specialize in tracking and managing fixed assets, with a focus on enabling clients to become self-reliant without having to rely on the assistance of external professionals.

Over the last decade, Verasset has learned that in order to bring lasting value to its customers, end-to-end services are required. For example, if a client requested a quote for conducting a physical inventory, it is important to better understand the objective behind the request.

If the ultimate objective is to verify financial records, then actually what is needed is reconciliation. Physical inventory taking simply represents a step towards being able to reconcile financial records to physical assets (better known as book to floor). Understanding this in advance enables us to adjust our plan of attack by focusing on real-time reconciliation activities as opposed to conducting reconciliation as a second step.

During the physical count process, it is not uncommon for Verasset to find assets that are not represented in the financial records, yet should be. In the absence of physical records, such as an invoice, appraisal value of an item needs to be determined. The item, and its appraised value, can then be added to the financial records.

While Verasset sincerely appreciates repeat business from a customer, our preference is to prepare our clients to sustain the results we help them achieve. Tagging items as they are counted is a logical effort as it prepares the client for a more accurate and efficient future inventory count.

Lastly, conducting an objective review of a client’s fixed asset business practices (including procedures and record-keeping methods) helps to uncover hidden deficiencies within their asset life cycle. Using knowledge we have compiled, Verasset offers recommendations for re-engineering business processes (BPR) based upon industry “best practices”.

Ultimately, our goal is to leave each client with the ability and know-how to be self-reliant and avoid repeating mistakes. Our measurement of success is a client who does not need to re-engage us, but who is willing to recommend us.

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