Asset Management System Implementation for IMC
Client: Intuit Management Consultancy (IMC)
Service Provider: Xponential Digital
Date: Apr’24
Project Overview
This Scope of Work (SOW) defines the implementation of an Asset Management System tailored to IMC’s requirements. The solution aims to provide better organisation of physical and digital resources, such as office equipment and SAAS subscriptions, across its offices in UAE, Singapore, and India. By replacing manual processes, this system will improve tracking, automate tasks, and support regulatory compliance.
Project Goals and Objectives
Asset Management Objectives
- Consolidated Tracking: Develop a unified system to monitor all physical and digital assets.
- Automated Notifications: Set up alerts for asset maintenance, renewals, and replacements.
- Detailed Reporting: Offer reporting tools for audits and operational insights.
Subscription Management Objectives
- Integrated Subscription Overview: Centralize the management of all SAAS subscriptions.
- Timely Alerts: Avoid missed renewals or duplicate subscriptions through notifications.
- Expense Monitoring: Track subscription usage and identify areas to reduce costs.
Project Goals and Objectives
Asset Management Objectives
- Consolidated Tracking: Develop a unified system to monitor all physical and digital assets.
- Automated Notifications: Set up alerts for asset maintenance, renewals, and replacements.
- Detailed Reporting: Offer reporting tools for audits and operational insights.
Subscription Management Objectives
- Integrated Subscription Overview: Centralize the management of all SAAS subscriptions.
- Timely Alerts: Avoid missed renewals or duplicate subscriptions through notifications.
- Expense Monitoring: Track subscription usage and identify areas to reduce costs.
Scope of Work
Asset Management System Setup
Structure Setup:
- Define roles and permissions, including Admins, Asset Managers, and Regional Heads.
- Implement security measures to safeguard sensitive data.
Asset Categorization:
- Create categories for physical assets (mobiles, PCs, and peripherals) and digital assets (subscriptions and software)..
- Assign tagging for precise tracking by location and usage.
Asset Lifecycle Tracking:
- Configure tools to monitor asset procurement, usage, and retirement.
- Include reminders for maintenance schedules and warranty expiration.
Reporting Tools:
- Build customizable dashboards for asset tracking by region and type.
- Provide ready-to-use templates for audit and compliance reports.
Data Migration:
- Transfer existing asset data from spreadsheets or other sources into the system.
- Validate and organize data for accuracy and consistency.
Reporting Tools:
- Build customizable dashboards for asset tracking by region and type.
- Provide ready-to-use templates for audit and compliance reports.
Data Migration:
- Transfer existing asset data from spreadsheets or other sources into the system.
- Validate and organize data for accuracy and consistency.
Subscription Management System Setup
Centralized Subscription List:
Create a repository for all SAAS subscriptions with details such as license type, renewal dates, and assigned users.
Policy Setup:
Define workflows for subscription approval, renewal, and cancellation. Establish clear processes to avoid duplication or unauthorized spending.
Automated Alerts:
Configure reminders for upcoming subscription renewals or cancellations to avoid lapses.
Usage and Cost Monitoring:
Track subscription usage patterns to identify underutilized tools. Highlight opportunities for cost adjustments by analyzing usage against expenses.
Automated Alerts:
Configure reminders for upcoming subscription renewals or cancellations to avoid lapses.
Usage and Cost Monitoring:
Track subscription usage patterns to identify underutilized tools. Highlight opportunities for cost adjustments by analyzing usage against expenses.
User Training:
- Conduct hands-on sessions for IMC’s team members to familiarize them with the new system.
- Provide easy-to-follow guides and reference materials for ongoing support..
Onboarding Assistance:
- Offer real-time assistance during the initial implementation phase.
- Address queries to ensure a smooth transition to the system.
Onboarding Assistance:
- Offer real-time assistance during the initial implementation phase.
- Address queries to ensure a smooth transition to the system.
Implementation Plan
Duration: 4 months
Phases
- Requirement Analysis and Solution Design (1 month)
- System Setup and Configuration (2 months)
- Data Migration and Testing (0.5 month)
- Training and Go-Live (0.5 month)
Challenges Addressed
- Ensured seamless integration with existing workflows to avoid disruptions.
- Designed automated tools to simplify data migration and maintain consistency.
Results
Improved Efficiency:
- Reduced manual tracking errors by 70%.
- Minimized time spent on audits and reporting.
Scalability:
- Designed the system to adapt to future growth and handle additional assets or subscription categories.
Cost Savings:
- Eliminated duplicate subscriptions and reduced expenses from additional purchases.
- Optimized resource allocation, cutting unnecessary purchases.
Better Oversight:
- Real-time monitoring of assets and subscriptions across regions.
- Simplified compliance with clear and consistent reporting.
Scalability:
- Designed the system to adapt to future growth and handle additional assets or subscription categories.
Cost Savings:
- Eliminated duplicate subscriptions and reduced expenses from additional purchases.
- Optimized resource allocation, cutting unnecessary purchases.
Better Oversight:
- Real-time monitoring of assets and subscriptions across regions.
- Simplified compliance with clear and consistent reporting.
