Procurement Management

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.