Theoretical Analysis:

Some of the latest ways of utilizing various new software assets procurement and updating
procedures are as follows:
Identify converted Purchase Orders including assets.
Verify the Chart Field information is accurate. (According to latest software SCT Banner
Finance, Microsoft Dynamics GP 2010, XeroDep 10 etc. )
Receive the order as a non-asset in the system and then process it accordingly.
Complete the Receiving Assets Related to Converted Purchase Orders form (According
to the latest software packages).
Description about the assets and their installation procedures in detail.
Manufacturer of the assets and their quality assurance has to be checked for.
Creating the voucher for the order through online portals.
With the use of sophisticated softwares and automated tools and techniques in order to maintain,
record, arrange and manage the fixed assets of the company, the companys performance can be
improved. Automated processes should be used instead of manual entry and physical monitoring
of fixed assets at Capital IQ. Such a system of automated softwares such as:
Improved process length (deviation from the standard length for each kind of Asset)
Improved transfer time (how long does a new asset usually take to be transferred to
companys records and maintenance into Fixed Assets Register).
As a measure of the quality of the technology being implemented.
Number of assets being relocated, bought and disposed according to its use is also
improved.
Availability of internal documentation, files, historical data (generated by each asset is
also improved)
Visibility of the assets process flow, depreciation etc. is also clear and impartial.
Technical conformance to specific important assets can be done within seconds online.
Tooling and labor costs can be accounted online and can be viewed through online
portals.
Manpower costs would be structured and no chance for false accountings.