‘This allows the nine UK sites and single site in Ireland to be managed both centrally and locally, with the head office controller working with the site responsible to maintain the asset register with better, more accurate up-to-date information.’
– BMW Finance
In Phase 1, Assettrac provided asset audit services for 9 different sites around the UK. This involved identifying current assets in use, providing detailed information on each item, pictures of specific assets ranging from furniture to specialist diagnostic equipment and asset tagging all relevant equipment.
Assettrac’s team of professional and experienced auditors undertook concentrated tagging and data logging work to provide maximum asset capture in a short time period. This aided data collection, speed to management and minimised any possible disruption onsite to personnel or item usage.
In Phase 2, Assettrac provided a central online portal for all BMW asset information, with the latest information on each of the designated sites for their continued oversight, reporting and onward management of critical information, managed by designated BMW personnel at these sites.
BMW UK sought support from Assettrac in reconciling head office asset data with information held at various UK sites. Firstly they a new inventory was required to understand what was held, where. Then they required a management tool covering BMW equipment onsite as well as third party contracted companies, with their own equipment, also working and using equipment on these sites.
Initially BMW only required an updated asset inventory – to be provided with a current and updated picture of their assets, details and location as well as distinctly marking BMW assets. Items needed to be clearly defined from other assets owned and operated by other parties. This required an experienced company to provide asset auditing services to liaise with various site personnel on location, clearly tag BMW items and collect detailed information to establish a more comprehensive system.
Reconciling asset inventories vs information based in financial systems is a difficult and laborious process, especially if this only done periodically. This is due to the often changing asset picture ‘on the ground.’ Assettrac were able to offer its modern technology to make it part of a continuous process to update information as it happens rather than reconciling further down the line.
Assettrac provided their easy to use cloud management system where the responsibility for asset information could be cascaded to personnel at the specific sites. This could be done by providing handheld devices that communicate with the online system in real-time.
By implementing this, BMW has removed a long-winded administrative process with new digital data management techniques so that head office can be updated in real-time for full visibility, responsibility and oversight.
Process and Implementation
Assettrac liaised with various BMW personnel to organise and project manage both onsite and from afar by digitally monitoring asset information as it was collected. Assettrac provided its own experienced auditors and android handheld devices (with inbuilt laser scanners) to rapidly add or update information accurately.
Data was sent automatically to the BMW dedicated portal
Important asset records were immediately stored online as they were collected, not held locally on the handheld.
BMW and Assettrac were also able to see from different locations the asset details being recorded at every stage.
The data collection stage was completed over a few months for all the sites involved. Once this was completed Assettrac was able to provide BMW with its own dedicated online portal, populated by the data collected, and provide logins for specific users. Staff were specifically trained in using the online portal system along with handhelds for their field work.
BMW now have a centralised platform to easily add or update item information on an ongoing basis. They can update their details from their different UK sites and from operatives out in the field using either the main platform or handheld units which Assettrac provided. The new system provides BMW with asset details of every interaction, assigned movements, and inspections, loans to departments or personnel. It can manage the entire lifecycle from delivery through to ultimate disposal.
All the information is accessible and available through any current browser to manage live or archive items for easy reference later. BMW have been able to tailor their system to collect their information, textual, numerical, date specific and attach any specific documentation. They can also undertake any inspection criteria they wish in the future on these items.
BMW Finance now has full visibility over the current asset situation for these sites on a nationwide basis so they know that the information they are using is up-to-date and applicable.
Assettrac continues to fully support BMW’s asset management system requirements on a continuous basis.
Assettrac are able to provide organisations with all services to update their current technology and processes in this area. Services include consultancy, project management, onsite auditing, handheld units and asset tags through to management software, development, training and support.
Assettrac exists to help people in their roles so they can derive extra efficiency, operational and capital savings and also increase productivity from their equipment and personnel.