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Scan, Capture, Sync, Validate & Report moveable asset details.
On time & in real-time.

DynamicVerify Mobile app + Cloud based Management Portal = Efficient Asset Verifications

Dynamic Verify e-solution allows asset management and asset verification teams, with functionality such as:
  • scan of asset barcodes for quick identification of assets via Android-based app,
  • capture of new asset data on-site by verifiers (such as descriptions, photos & GIS location, room details, asset custodian, assessment of condition)  scanning portal),
  • Sync of asset verification results from multiple verifiers across multiple locations to the consolidated cloud based management portal.
  • Allow management to validate and manage the verification results in real-time,
  • Reporting outputs, such as verification results, exception reports, automated room listings & signed custodian reports,
  • Syncing of condition assessment data to DynamicFAR required for impairment assessments, impacting depreciation calculations and other AFS disclosures    

Some of our trusted partners

Over the past 13 years, we have assisted numerous Asset Managers, CFOs, Asset custodians, Asset verification teams with improving their moveable asset verification processes and outcomes through DynamicVerify.  Our clients spans various sectors: 
  • Public entities
  • Local Government / Municipalities
  • Higher Education sector
  • Mining sector
We have assisted clients in South Africa, Namibia and Lesotho.

Want to find out how to simplify your Moveable Asset Verification processes?

Manual Asset Verification management is Time Consuming, Inaccurate & Risky

  • Administrative and logistical complexity to print, distribute, collect, recapture and data validation of paper verification lists
  • Spreadsheets introduce errors
  • Duplicate / double counting, missing, or ghost assets complicates asset reconciliations, confuses verification team and management, and distort financial reporting & complication
  • Movable assets are difficult to track across locations
  • No linked prior data & history of asset / verification processes
  • No management information about verification and verifier progress
  • Delayed verification increases compliance risk

Challenges with paper and manual verification processes

  • Human error at every step.  Lost / misplaced verification lists.  Illegible handwriting.  Manual data entry and capture errors.
  • Time-consuming and cost-inefficiencies to manage paper set: preparation, printing, distribution, collection, capturing.  Acquisition of paper, printing costs, processing costs and Storage costs. Risk of duplication of asset list and unnecessary verification runs. 
  • No history / Ambiguity as to the latest data results:  No easy access to data to show movement, data errors or items requiring management oversight.   
  • Difficult in scaling: Easy to manage 100 assets / 10 verifiers via paper, but no so easy to manage 10,000 assets / 100 verifiers via paper.
  • Difficult to oversee & manage verification process:  No real-time progress of verification. 
  • Difficult to manage data changes: manual notes to be included in documentation which usually only allows for a tick mark and an asset rating.  Limited space to included other key asset data (serial number, descriptions, asset custodian, comments) No dedicated exception reporting on paper changes. 
  • Difficult to manage changes in asset locations: No systemised process to manage and track changes in asset movements.       
  • 100% trust based / No audit trial: No validation controls to proof of actual verification by verifiers (no photo / no location data / no verification timestamp). 
  • Subjective verification results.  No supporting details to substantiate 'condition assessment' results. 
  • Time-consuming manual data capture of data and running of analysis.

 DynamicVerify simplifies Asset Verification management

Dynamic Verify e-solution allows for more time and cost effective movable asset verification process than the traditional pen-&-paper method as well as other fixed hardware solutions.  This achieved by the combination of:
  • DynamicVerify mobile app (for verification staff)
  • Cloud-based management portal & dashboard (for asset managers to analyse verification results)
It assists entities to focus on the verification results, than the process to get the verification results.  
  • Always up to date. 
  • Zero-time spent on physical handling of obsolete paper listings.
  • Single source of truth of verification process.  Instant access to data captured via mobile app, visible on the tracking dashboard.
  • Automatic data validation, Automated workflows & Pre-setup exception reports to manage data anomalies.
  • Allows for scaling of verifications (of 100,000 assets+) to across multiple provinces, regions, buildings & rooms, all from the dashboard
  • DynamicVerify runs on a cost-effective structure based on an entity fee per asset quantities, and not the number of the verification team members.
  • The system requires no specialised or bespoke hardware, and allows for quick setup support once onboarded.
  • The App runs on readily available Android devices (app available on Google Play Store) and the management portal requires a computer with internet access.  No complex hardware setup and linkages.

Why the DynamicVerify app & dashboard work?​

(i) Asset data verified through DynamicVerify app

Asset identification data

  • Asset details & specifications: Make, Model, Colour, Material, Asset number; Description; Serial number
  • Multiple photographs of each verified asset
  • Location coordinates pinpoint asset location (GIS)
  • Asset Room location details: Room details linked to physical address of the asset

Asset performance data

Verified asset condition assessment, impacting financial reporting (GRAP / IPSAS):
  • Expected Useful Lives (EULs)
  • remaining useful lives (RULs)
  • Carrying value of assets
  • Asset impairment
The data can be exported in editable format from the Management Dashboard and interlinked with asset register data for the calculations of the applicable depreciation and impairment amounts.

Asset Accountability data

  • Allocation to department / specific custodian
  • Sign-off by custodian of asset for room listing
  • Asset transfer to log movement of asset between location / custodian

(ii) DynamicVerify Management portal & dashboard

Real-time verification results

Our cloud based dashboard allows for real-time tracking of verification results.  It allows asset managers to review the asset data captured by their verification teams, to validate condition assessments based on the uploaded photos, GIS details and other details.

Impairment indicator considerations 

Changes in asset conditions assessment values assist with the assessment of indicators of asset impairment, as required by various accounting standards for possible asset value adjustments:
  • IAS / IFRS reporting framework:  IAS 36 Impairment of assets
  • IPSAS  reporting framework: IPSAS 21 Impairment of Non-cash-generating Assets + IPSAS 26 Impairment of Cash-generating Assets
  • GRAP reporting framework: GRAP 21 Impairment of Non-cash-generating Assets + GRAP 26 Impairment of Cash-generating Assets

Management verification parameters

Allows asset managers to manage asset data sets, asset locations (regions, buildings, room), personnel (asset verification team members & asset custodians) and verification outcomes.

Management & Exception reports

Extensive reports available which include asset reports, verification activity process report, asset movement reports, asset uptake report (new assets), written off assets, asset condition movement report (for impairment consideration), 

Automated room listings

Our dashboard allows for printable room-listings which are generated from the verification results, as signed-off by Asset Custodians per room.  This can be used for internal controls as well as external audit support. 

Want to request a virtual demo?

Want to find out more

If you want to find out more about how we can assist with your entity's moveable asset verification processes, looking for a quote for Dynamic Verify app, or even some technical GRAP / IPSAS training support, complete the contact form, drop us an email or give us a call.
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