A software and hardware system for tracking the location and movement, and verification of fixed assets (FA).

For organizations having large and multiple locations and numerous fixed assets, verification of these assets and finding their location is always a big challenge. For companies, FA register and FA physical verification is also a legal requirement. Since the FA are procured over a long period of time, it becomes difficult to trace their history due to staff rotation, change of locations, missing records even after spending time and money on this exercise.

MIDAS comes to the rescue with its unique combination of IoT hardware and software. While the hardware like RFID tags and handheld reader makes the FA physical verification process quick and easy, the software captures data from this hardware and generates reports that are useful to the organizations.

• Creation of organization, departments, users, asset locations and their levels, asset groups, sub groups, assets, CWIP
• Facility to upload documents related to the fixed asset (e.g. invoices, warranty certificates, calibration certificates, test certificates, Health Certificates, etc.)
• Audit of FA physical verification
• Calculation of depreciation
• Assign, de assign and re assign tags to FA
• Bulk data upload for assets, depreciation, CWIP
• Transfer of CWIP assets to FA
• Entry for insurance, reference details of accounting software
• Reports of FAR, audit, depreciation, CWIP, asset sale/discard
• User friendly dashboards for instant intellisense