Banks and SACCOs
Every branch's assets, verified on schedule
Fixed asset management for banks and SACCOs: a register by branch, verification counts, depreciation, role-based access and a full audit log.
An asset tag as it could look for this sector. Illustrative.
The problem
A financial institution holds a lot of ordinary assets in a lot of places: computers, ATMs, furniture, safes, generators and signage across branches and head office. Each branch tends to keep its own list, and head office sees them only at year end.
Internal audit, external audit and regulators all want the same thing: a register that matches the floor, with depreciation that follows policy and a trail that shows who changed what.
How VexCloud AMS helps
A hierarchy that mirrors the network
Head office, regions, branches and floors as nested locations, with a register that rolls up and filters down.
Fixed asset register
Verification counts, branch by branch
Count each branch and see the exceptions. The audit interval and the overdue-audit rule tell the right people when a branch is due.
Physical asset audits
Depreciation that follows policy
Policies by category, a monthly run, and book value on every asset. Disposals compute gain or loss.
Depreciation
Roles for who may see and change what
Asset managers, finance, internal audit and read-only reviewers, each with the permissions their job needs, in each company.
Many companies, one login
IT assets handed to staff
Laptops and phones checked out to people, with confirmation, return dates and a history.
Check-in, check-out and transfers
Scenario, not a client
A scenario: a quarterly branch count
Imagine a SACCO with twelve branches. Internal audit sets each branch's quarterly count. Branch staff scan assets with their phones, and the register shows each branch's found and not-found counts as they work.
Head office reviews the exceptions by branch, moves misplaced assets back in bulk, and finalizes each audit. The overdue-audit rule notifies internal audit about any branch whose count has slipped, and the finalized audits are what the external auditors are shown.
This is an illustration of how the product is used. It describes no real organization.
The tags are half of it
Branch assets are handled constantly, so tags need to stay on. Vexar Solutions makes tamper-evident and aluminium tags and can tag every branch in one programme.
FAQ
Questions from this sector
Can each branch see only its own assets?
Roles are granted per company. To keep branches apart, run each branch or region as its own company, with head office holding a role in each. Within a company, filters and saved views narrow the list to a branch.
Do you support recurring audit schedules?
You set an audit interval, every verified asset shows when its next audit is due, and a built-in rule notifies people when it is overdue. Fully scheduled recurring audits are coming soon.
Is there an audit log for internal and external auditors?
Yes. Every change is recorded with who, what, when, and before and after, and the audit trail is also a report.
Can it connect to our core banking system?
There is a documented API and signed webhooks for integration work. Direct connectors to core banking systems are not provided.
See your own assets in VexCloud AMS.
Book a 30-minute demo.