Akhile Asset Management System
The Akhile Asset Management System (AAMS) achieves the following objectives that are imperative to sound asset management practices:
- Keep track of all assets including location, use, history, condition and value;
- Understand the capabilities of assets, and how they can be operated in the most effective manner and thereby achieve effective operations;
- Support Risk management; and
- Optimise operations including planning, budgeting and resource use.
In practice and in our experience, we found that asset registers lack key data fields, are incomplete and inaccurate and do not achieve the above objectives. Our local developed and proudly South African Solution allows an organization to better manage, account and plan for their assets. This is achieved through the following key modules within the system:
- Asset verification;
- Asset accounting; and
- Strategic Asset Management plan.
The data from the asset management solution ensures that asset recovery will lead to better returns including supporting operations, accounting requirements, insurance requirements and asset financing requirements.
Asset Verification Module
- We have considered legislation, accounting standards and best practice to ensure that asset information is captured and updated correctly the first time.
- Built in Quality Assurance layer which vets the data before it is approved for release.
- The system is set up to cater to the nature of assets under management as we understand the unique requirements for Moveable and Immoveable Assets.
- Designed to allow asset assessors to collect predefined data on physical assets in the field using mobile devices (specifically Android tablets).
- Web portal that allows for App Configuration, Client Management, Asset Management, Reporting and Quality Assurance.
- The Mobile Application module installs on an android device which allows for data download from server, asset take-on, acquisition and verification configured to the approved asset hierarchy of the organization, asset write-off; and data upload to server.
Asset Accounting Module
- Ensures that the appropriate accounting treatment is applied in line with the organisation’s accounting policy and approved and accepted practices.
- Allows for all asset accounting and reporting requirements including yearend processes such as impairment and useful life reviews.
Strategic Asset Management Plan (SAMP) Module
- Allows the organization to produce Asset Management Plans (AMP’s) per sector/department and a SAMP for the entire organization.
- Informs organisations how to plan, utilize and maintain the complete and verified asset base.
- The AMP’s provide a view on the current asset base conditions, maintenance costs and future capital costs to allow for planning for expected levels of service as required.
Key System Features
- Offline and online modes;
- All data resides on a central server; and
- Integrates into existing systems.