From Procurement to Disposal,Track Every Stage
Assets follow a 9-stage journey in every organization: Procurement → GRN → Inventory → Move Order → CWIP → Capitalization → FAR → Operations → Disposal. AssetX manages each stage with precision.
No stage is skipped, no data is lost, no compliance is missed. One platform for your complete asset lifecycle.
The 9 Stages of Asset Lifecycle
Every asset follows this journey. AssetX provides specialized modules for each stage with seamless data flow between them.
Procurement & Purchase
Every asset starts with a need. Someone requests a purchase, it gets approved with budget checks, a Purchase Order goes to the vendor, and the asset is officially on its way. This stage ensures you buy what you need, from approved vendors, within budget, with proper authorization trails. No rogue spending, no budget overruns, complete procurement governance.
Key Features
GRN & Goods Receipt
The asset arrives at your gate. GRN process verifies what was ordered vs what was delivered. Quantity checks, quality inspections, condition documentation—all captured digitally. Any discrepancies are flagged immediately. Once approved, the GRN triggers inventory entry and notifies finance for payment processing. This is the moment the asset officially enters your organization.
Key Features
Inventory & Storage
Not all assets go straight to use. Some sit in warehouse waiting for the right time or location. Inventory module tracks what is in stock, where it is stored, and its availability status. Put-away processes organize storage, stock counts ensure accuracy, and reorder points prevent stockouts. When a department needs the asset, it is located and allocated instantly.
Key Features
Move Order & Allocation
When a department needs an asset from warehouse, a Move Order is raised. It specifies what is moving, from where, to where, and who is responsible. Upon delivery, the receiving party acknowledges receipt digitally. Asset location updates automatically, custody transfers to the new owner, and the asset is now ready for deployment. Every movement is tracked for complete traceability.
Key Features
CWIP - Work in Progress
Some assets need time before they are ready—machinery being installed, buildings under construction, IT infrastructure being set up. These are Capital Work in Progress (CWIP). All costs accumulate here: purchase cost, installation charges, transportation, taxes. Once ready for use, CWIP is capitalized and moved to Fixed Assets. Until then, it is tracked separately with its own reports and aging analysis.
Key Features
Asset Capitalization
The asset is now ready for use. Capitalization converts CWIP to a Fixed Asset. You assign useful life, select depreciation method (SLM or WDV), and the system posts automatic GL entries—debiting Asset Account and crediting CWIP Account. The asset now appears in FAR, depreciation starts calculating, and it is ready for operations. This is the official "birth" of the asset in your books.
Key Features
Fixed Asset Register (FAR)
FAR is the heart of asset management. Every active asset lives here with its complete profile: specifications, purchase details, current location, responsible custodian, book value, depreciation accumulated, warranty status, and documents. This is what auditors review, what management reports on, and what operations rely on for decision-making. The "Kundli" of your assets.
Key Features
Operations & Maintenance
The asset is now productive. But it needs care: preventive maintenance schedules, repairs when broken, depreciation charged monthly, physical verification to ensure it still exists, transfers when moved between locations. This is the longest stage—assets spend most of their life here. Good operations management extends asset life, reduces downtime, and maximizes return on investment.
Key Features
Disposal & Retirement
Nothing lasts forever. When an asset is fully depreciated, obsolete, or no longer needed, it is time to retire it. Calculate residual value, get approvals, sell for scrap or to used equipment buyers, or donate. Post final GL entries to write off the asset. The asset moves from Active to Disposed status but remains in system for historical records. Clean register, complete audit trail, proper financial closure.
Key Features
Seamless Flow Between Stages
Each stage triggers the next automatically. Procurement → GRN → Inventory → Move → CWIP → Capitalization → FAR → Operations → Disposal. One continuous flow.
Automatic Progression
Assets advance through stages based on triggers. GRN approval creates inventory record. Move order completion activates CWIP. Capitalization moves to FAR. No manual status updates needed.
Integrated Accounting
Every financial event posts to GL automatically. PO commitment, GRN liability, capitalization, depreciation, disposal gain/loss—all entries created without manual intervention.
Compliance at Every Step
Built-in compliance for each stage: Three-way matching in procurement, E-way bills for transfers, proper depreciation methods, disposal approvals with audit trails.
Frequently Asked Questions
Everything you need to know about complete asset lifecycle management
AssetX is the only platform that covers the complete asset lifecycle—from procurement to disposal:
• Procurement to Asset Creation: P2P automation with automatic asset capitalization on GRN
• Inventory Management: Real-time stock tracking, put-away, and transfers
• Physical Verification: AI-powered ScanIQ for lightning-fast audits
• Finance & Compliance: CWIP tracking, lease management, depreciation, and audit-ready reports
• Risk Management: Built-in RCM and Risk Asset Matrix for compliance
Most tools handle one piece. AssetX handles everything in one unified platform.
AssetX manages every stage of your asset journey:
1. Procurement: Purchase requisitions, approvals, and PO generation with budget controls
2. Receipt & GRN: Goods receipt with automatic GL posting and asset creation
3. Inventory: Stock tracking, put-away, move orders, and transfers
4. Deployment: Asset assignment to users/locations with acknowledgment
5. Operations: Maintenance tracking, job management, and work orders
6. Verification: AI-powered physical audits with FAR reconciliation
7. Compliance: CWIP capitalization, lease management, and risk tracking
8. Disposal: Asset retirement with proper accounting and documentation
Every step is connected. Every record is traceable.
AssetX complements or replaces your ERP asset modules, depending on your needs:
• ERP Integration: Bi-directional sync with SAP, Oracle, Tally, and custom ERPs
• GL Posting: Automatic accounting entries posted directly to your ERP
• Master Data Sync: Vendors, cost centers, and chart of accounts stay synchronized
• Standalone Option: AssetX can function as your primary asset management system
Most customers keep their ERP for core accounting but use AssetX for operational asset management—where ERPs typically fall short.
Typical implementation takes 2-4 weeks for mid-sized enterprises, 4-8 weeks for large organizations:
Week 1: Setup & Configuration
• Instance provisioning and user creation
• Chart of accounts and location hierarchy setup
• Approval workflows and role definitions
Week 2-3: Data Migration
• Import existing asset registers
• Vendor and master data synchronization
• Historical transaction import (if needed)
Week 3-4: Training & Go-Live
• Admin and user training sessions
• Mobile app deployment to field teams
• Parallel run and cutover
Enterprise implementations with complex integrations may extend to 6-8 weeks.
AssetX was built for distributed enterprises. Multi-location management includes:
• Hierarchical Structure: Country → State → City → Site → Building → Floor → Room
• Location-Based Permissions: Site managers see only their assets and data
• Inter-Site Transfers: Full custody tracking when assets move between locations
• Consolidated Reporting: Enterprise-wide visibility with drill-down to individual sites
• Offline Mobile App: Field teams verify assets without connectivity, sync when online
Our largest customer manages 200+ locations with 100,000+ assets from a single dashboard.
AssetX handles complex asset accounting out of the box:
CWIP (Capital Work in Progress):
• Track assets under construction separately
• Capitalize to fixed assets when ready with automatic GL entries
• Maintain full history from procurement to capitalization
Lease Management:
• Right-of-use asset tracking per Ind AS 116/IFRS 16
• Lease liability calculations and amortization schedules
• Automated journal entries for lease accounting
Depreciation & Impairment:
• Multiple depreciation methods (SLM, WDV, custom)
• Component-level depreciation for complex assets
• Impairment testing and adjustment workflows
The AssetX mobile app is your field team's superpower:
• Offline-First: Verify assets without internet, sync when connected
• Barcode/QR Scanning: Instant asset identification using device camera
• Photo Documentation: Condition verification with timestamp and GPS metadata
• ScanIQ AI: Recognize assets from photos, auto-fill specifications
• Real-Time Sync: Verification data appears instantly on the dashboard
• Multi-Job Support: Handle multiple audit jobs simultaneously
No more clipboards, Excel sheets, or back-office data entry. Available for Android and iOS. Works on basic smartphones—no special hardware needed.
Yes. AssetX transforms audit preparation from a scramble to a non-event:
• Complete Audit Trail: Every asset movement tracked with user, timestamp, and approval
• Document Vault: All invoices, GRNs, and supporting docs attached to assets
• One-Click Reports: FAR reconciliation, verification summaries, discrepancy reports
• Digital Sign-Offs: Auditor-ready approval chains with legal validity
• Compliance Dashboards: Risk matrices, CWIP status, and lease schedules
When auditors arrive, you hand them a login—not a filing cabinet. Most customers report 80% reduction in audit query resolution time.
One Platform. Complete Control.
Transform your asset management with a unified platform. From fragmented systems and manual processes to complete visibility and control.
Free 14-day trial • No credit card required • Setup in 24 hours