Reduxo asset auditing

Asset management specialist Reduxo has launched a market-first rolling audit service to help property management, leisure, mining, aged care facilities and retail companies avoid financial misappropriation and remain compliant when it comes to managing and disposing assets that sit on the company balance sheet.

The service allows organisations to take control of their physical assets, often numbering into the thousands, in what is a largely neglected yet significant component of a company’s finances.

Reduxo maintains an organisation’s asset register by barcoding ‘new’ assets and verifying existing assets. The process ensures that the asset register is maintained and the client is provided with any location changes and updates.

Organisations in Australia need a complete and accurate asset register for combined operational and financial purposes, and ongoing asset additions and disposals need to be managed. Typically, an organisation may perform ad hoc audits at a point of acquisition, merger or time of financial difficulty yet neglect to maintain up-to-date records in between times.

Reduxo’s service offers an upfront fixed fee, regardless of how many assets are under management, and represents a 30% reduction of the average ad hoc asset audit. It also means that assets are visible and accounted for at any given time. Having accurate data available is important to: make ongoing financial decisions on assets, allow operations to track assets for availability, allow operations to maintain assets to ensure compliance (financial, essential services and OHS) and to ensure operations and finance are aware of additions for proactive maintenance.