So you used Fulcrum Technologies mobile scanning solutions to amass a huge amount of data about your physical inventory, assets, and critical infrastructure in the field. Then what do you do with that data? The first step in making the data transform into actionable data is through reconciling that data to create an accurate, real-time fixed asset accounting database. Traditional ledgers are often years out of date with various capitalization limits and accounting approaches. The best practice is to correct these deficiencies and create asset records that can be easily maintained and audited in the short, medium, and long-term future.
An in depth review of the accounting records will often present the structure, paradigm, and path that needs to be followed. The assets attributes like age, type and available detail will populate the field data requirements and show how you should conduct the reconciliation.
Automated processes can connect your field data with your “books”. In many cases, the reconciliation can be completed with this single step, but often it’s more complex. If necessary, you can physically match material assets between the two data sets that were not connected electronically so that any material discrepancies can be resolved.
This central reconciliation should also take (and verify) inputs from any connected system, whether it is OSS, BSS, ERP, or Legacy, so it has another perspective into the data. Then the new asset database of record can push out the best possible data to those same connected systems, so you can maintain accurate records at every location. This process makes every single aspect of your asset records better at ever possible reference point, improving company wide CAPEX, OPEX, and business efficiencies.