Simplify Fixed
Asset Management

Simplify Fixed
Asset Management

Explore IQX Fixed Asset Management with SAP Fiori

Explore IQX Fixed Asset Management
with SAP Fiori

Control Fixed Asset Creation, Transfers, Disposals,
Revaluation and Verification

Control Fixed Asset
Creation, Transfers, Disposals,
Revaluation and Verification

Capital projects typically include the creation, transfer, disposal, revaluation, and physical verification of existing fixed assets. IQX Asset Management is a suite of SAP Fiori applications that helps control these processes more effectively and efficiently by integrating deeply with SAP standard functionality and by providing a more intuitive user-experience and automated approval workflow.

A Fixed Asset Management Diagram and Process Chart of the CAPEX process.

Enhance the Productivity of your Asset Accounting Team

Integrate your fixed asset movement request forms with SAP functionality to eliminate re-keying of information and improve operational efficiency.

Improve Monitoring and Control over Valuable Assets

Maintain accurate and reliable fixed asset accounting records to mitigate the risk of obsolescence, fraud or theft of valuable assets.

Ensure Compliance with Delegation of Authority Polices for Asset Transactions

Interact directing with centralized SAP data to ensure data integrity and enforce standardized approval workflow.

5 Steps in the Asset Management Process

Create fixed asset master records accurately and consistently

Connect fixed asset definition and classification seamlessly with capital project and procurement processes.

Transfer fixed assets efficiently between departments and legal entities

Enable both sending and receiving managers approve the identified assets and valuation prior to automatically processing the movement.

Dispose of fixed assets in accordance with delegation of authority

Ensure that the cost and impact of fixed asset disposals is accurately presented and appropriately authorised in accordance with delegation of authority limits.

Revaluation of fixed assets

Value fixed assets fairly in accordance with your accounting policies.

Physically verify and inspect fixed assets

Conduct regular physical verification of the location, condition and reasonable valuation of organization fixed assets.

Fixed Asset Creation Application

The IQX Fixed Asset Creation Fiori application automates the setup of fixed asset master records in SAP, whether individually or in bulk. This application fosters collaboration and integrates an approval workflow to collect vital details, including descriptions, classifications (e.g., asset class), attributes (e.g., identification number), accounting treatment (e.g., useful life for accounting and tax purposes), as well as location and responsibility assignments (e.g., Cost Centre). Moreover, the IQX Fixed Asset Fiori application enables the creation of sub-assets and related equipment.

Screenshot of Fixed Asset Creation SAP Fiori App for Fixed Asset Management

Create Fixed Asset Shells at the Time of Purchase Order or at Project Completion

Connect fixed asset master record creation into the business process flow in-line with either purchasing or project completion.

Simultaneously Create Financial (Fixed Asset) and Maintenance (Equipment) Records

Extend the definition of created fixed assets as sub-assets and equipment for on-going asset maintenance processes.

Collaborate, Review and Approve Details Prior to Creation in SAP

Engage the responsible cost centre manager, asset accounting, tax, engineering and maintenance representatives to agree all details before automatically integrating to SAP.

Fixed Asset Transfer Application

The IQX Asset Transfer Fiori application enables asset transfers to be initiated directly by business users with policy compliance checks automatically being applied and required reviews and approvals obtained before automatically processing the asset reassignment.

ScreenShot of Fixed Asset Transfer SAP Fiori App for Fixed Asset Management

Comply with Fixed Asset Accounting Policies

Embed policy compliance checks and rules when initiating and approving fixed asset transfers to ensure that all required classifications, justifications and approvals are obtained.

Ensure both Senders and Receivers Agree to any Fixed Asset Transfers

Automatically include both responsible managers when fixed assets are transferred from one cost centre, plant to legal entity to another.

Automate Fixed Asset Transactions for Improved Productivity

Post asset transfers accurately and consistently to eliminate time wasted on reconciliations and follow-ups.

Asset Disposal Application

The IQX Asset Disposal Fiori application enables project or departmental managers to initiate the fixed asset disposal process ad-hoc or as a seamless step in an asset replacement project. Fixed assets can either be directly scrapped or sold for revenue, and the IQX Asset Disposal Fiori app handles both scenarios in a similar, consistent, and efficient manner.

ScreenShot of Asset Disposal SAP Fiori App for Fixed Asset Management

Present Reliable Impact Assessments

Automatically reference current fixed assets acquisition cost and current net book value for the confident impact assessment by approving managers.

Import Assets from Spreadsheet for Bulk Disposals

Include multiple fixed assets in a single disposal request and approval process for increased productivity.

Comply with Delegation of Authority Policies

Ensure that all the required approvals are obtained for the disposal of organizational fixed assets in accordance with internal audit and policy requirements.

Asset Revaluation Application

The IQX Asset Revaluation Fiori application enables fixed assets to be revalued in accordance with accounting policy. Decreases in valuation may occur due to obsolescence or damage. Increases in asset valuation may apply where your accounting policies require asset revaluation to fair market value.

Screenshot of Asset Revaluation SAP Fiori App for Fixed Asset Management

Increase or Decrease Asset Valuation

Consistently handle both increases and decreases to fixed asset values and trigger SAP transactions automatically.

Ensure Current Asset Values Accurately Presented

Enhance control over the process by ensuring that the description and valuation of assets is automatically retrieved and accurately presented to approvers.

Accelerate Workflow and Comply with Approval Policies

Expedite asset value change requests with automated workflow and consistent derivation of required approval roles.

Fixed Asset Verification Application

Directors are responsible for effective stewardship of the organization’s assets and resources. The IQX Fixed Asset Verification Fiori application enables financial controllers and internal audit to initiate physical fixed asset inspection and condition reporting process. Accessible on mobile devices the Fixed Asset Verification App allows for more regular and efficient monitoring of the status of installed assets to validate the integrity of accounting records.

ScreenShot of Fixed Asset Verification SAP Fiori App for Fixed Asset Management

Prepare Fixed Asset Physical Inspection Plans

Automatically generate a fixed asset verification work-list based on sample size and other filtering conditions.

Conduct Existence and Condition Verification

Complete the physical asset inspection on-site digitally via the mobile-enabled Fiori app to avoid paper-based results capture and rekeying.

Reconcile and Adjust Asset Records

Consolidate inspection results and submit for approval and automatic processing of any identified write-offs or devaluations.

Transform Your Asset Management Accounting Processes with IQX

IQX Asset Management is a suite of SAP UI5 (Fiori) Apps designed to leverage the power of SAP to manage your fixed asset creation, transfer, disposal, revaluation, and verification business processes. It makes it easy for business users to be compliant with accounting policies when capturing transaction details and seeking approval. Book a demo to see for yourself how IQX Asset Management will help you accelerate approvals, improve productivity, and effectively monitor and control fixed asset records and stewardship.