Client Overview
A leading financial institution operating across multiple offices and branch locations engaged Crown Workspace Singapore to develop an efficient system for tracking and managing their furniture assets. These assets included desks, chairs, storage cabinets, lockers, meeting tables, and monitor arms. Upon completion, the total number of assets is expected to exceed 10,000 across all locations.
Client’s Goals for Implementing This Project
Project Rollout
1. Software Development & Hardware Procurement
Crown Workspace collaborated closely with the client to design a custom asset management platform tailored to specific operational needs. The client requested the inclusion of various fields such as asset brand, model, value, depreciation, and warranty to ensure comprehensive asset tracking. Crown Workspace effectively communicated these requirements to the RFID software developer to ensure alignment. The hardware and software were delivered as a complete package, including an RFID Encoder/Printer, a laptop to host the software, RFID scanners, and RFID tags.
2. Asset Tagging & Registration
The Crown Workspace team meticulously gathered detailed information about each asset, including descriptions, locations, purchase dates, conditions, and images. This data was sourced from asset labels and the client’s operation and maintenance manuals, and then entered into the asset management system. Each RFID label was carefully encoded, printed, and tagged onto the respective assets. To ensure smooth operation, Crown Workspace conducted training sessions for the client’s staff, enabling them to manage the system autonomously. Additionally, an optional service for periodic audits conducted by Crown Workspace was offered, utilising the client’s hardware.
Post-Installation Asset Control and Reporting
Real-Time Tracking & Inventory Management
After installation, the system provides robust real-time tracking and inventory management capabilities. Users can access real-time asset data through a user-friendly dashboard, allowing them to add, loan, or dispose of assets seamlessly. Detailed asset information can be retrieved using a portable scanner, and efficient audits can be performed with handheld scanners, ensuring accurate and up-to-date inventory management.
Periodic Audits, Alerts & Reporting
The system simplifies inventory audits, significantly reducing reliance on manual checks. During audits, it alerts users to any asset movement from its designated location, ensuring assets remain properly tracked. Facility managers can generate detailed reports on asset utilisation, missing items, maintenance schedules, and furniture condition, providing comprehensive insights into asset management and facilitating informed decision-making.
Client Benefits
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Significant time savings & Cost efficiency
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Optimised space utilisation
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Enhanced operational capabilities
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High level of accuracy, efficiency, and control over assets
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Regulatory compliance
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Improved accountability
Summary
The implementation of the RFID Asset Tagging Software has brought significant benefits to the client. By enhancing financial accuracy and reliability, the organisation can ensure that their balance sheet substantiation is precise and trustworthy. The system has streamlined operational efficiency, reducing the need for manual inventory checks and saving valuable time and resources. Optimised resource utilisation across various locations has been achieved, ensuring effective and efficient use of assets.
The robust asset management system established by Crown Workspace has minimised audit time and resources, reducing asset loss or misplacement. Real-time tracking and inventory management capabilities allow users to access asset data instantly, manage assets seamlessly, and perform efficient audits. Periodic audits, alerts, and detailed reporting have simplified inventory management, ensuring regulatory compliance and improved accountability.
Overall, the client has benefited from significant time savings, cost efficiency, and optimised space utilisation. The comprehensive asset management solution provided by Crown Workspace has enhanced operational capabilities, ensuring a high level of accuracy, efficiency, and control over furniture assets across all locations. This project stands as a testament to the effective collaboration between Crown Workspace and the client, delivering a tailored solution that meets specific needs and objectives.