Get the Most Value out of Your Fixed Asset Inventory Service

You’ve determined that it’s time to bring in a professional to conduct an inventory of your fixed assets. The search for a reliable company begins. As you vet the various service providers, you need to make sure you are getting maximum ROI. But how? First off, consider all of the added benefits available to you, […]

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Year End Reconciliation

As the end of the year approaches, many businesses are looking to finish projects that have been lingering. They’ve put them off all year and now need to get them completed. They also need to spend the money before the year is up. This often includes physical inventory and reconciliation of the fixed asset register. If […]

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What’s happening at Verasset?

Verasset wraps up a busy first quarter completing inventory projects for a diverse customer base. Highlights include completion of: Wall-to-wall physical inventory and asset tagging of medical devices and IT equipment throughout over 350 urgent care clinics and administrative offices in 38 states. Verasset deployed 7 teams across the nation and completed the project in […]

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Asset Recovery

There are many reasons to periodically conduct a physical inventory of assets. One often overlooked benefit is the potential for asset recovery. Asset recovery often leads to identification of idle assets. Idle assets not only cost money, but represent risk. For example, idle assets are likely not to be missed if they are stolen, whereas […]

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Fixed Asset Inventory and Reconciliation for Corporate Buyout

Verasset recently completed an in-depth physical inventory and reconciliation project for an automotive dealership. The dealership has been family owned and operated since inception. One of the majority shareholders was looking to sell his shares and get out of the family business. This was a complex negotiation they were looking to resolve quickly. A major […]

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Do you have Ghost Assets?

Do you have Ghost Assets? If you are like nearly 2/3 of businesses, the answer is, probably. Are ghost assets costing you money? Absolutely. It is estimated that at least 65% of companies have ghost assets listed on their general ledger. Based on 11 years of performing fixed asset reconciliation projects, we believe this number […]

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Fixed Asset Management – Getting Started

Over the last 11 years, Verasset clients’ have come to us with a myriad of problems related to tracking and managing their fixed assets. Some come to us with a distinct set of requirements and goals. Others are not quite sure exactly what it is they need or what they should be doing, but they know […]

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Physical Inventory and Asset Tracking Industry Focus – State and Local Government

Governmental Accounting Standards Board (GASB) Statement 34, also known as GASB34, is a lengthy regulation related to financial reporting for state and local governments. GASB34 requires that state and local governments file comprehensive annual financial reports. The annual report must include a detailed accounting related to the agencies capital assets. Capital assets, according to GASB, […]

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Physical Inventory and Asset Tracking Industry Focus – Manufacturing

Manufacturing companies, regardless of size, typically have a significant investment in capital assets. Regardless of what it is they produce, specialized machinery, tools, equipment, vehicles, etc., are used in daily operations. This is in addition to the everyday office equipment (furniture, IT equipment, etc.) used to run the business. If the company is publicly traded, […]

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Physical Inventory and Asset Tracking Industry Focus – Introduction

RFID Physical inventoryVerasset provides physical inventory services and turn-key asset tracking solutions across nearly every industry. This blog series will highlight various industries in which we are providing these services and solutions. While the nature of the various markets can clearly differ, their goals are often very similar, asset visibility. They want to know what […]

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