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Capital work in progress

CWIP - Capital Work In Progress

Gain Insights into Capital Work in Progress (CWIP) with Asset Infinity

Asset Infinity offers a specialized feature called Capital Work in Progress (CWIP) designed to manage assets that are currently being built or produced. This feature provides a comprehensive view of your capital projects by allowing you to track expenses, timetables, and the progress of assets that are not yet completed.

Why CWIP is Essential for Complete Asset Management

Complete Information

Complete Information

Gain complete insights into your capital projects with detailed tracking. Keep track of the cost and development status of assets in real-time, ensuring that you have accurate information at every stage of the project.

Easy Checkin-check-out

Budget Control

Maintain strict budget control by verifying that your initiatives are on schedule and comparing actual expenses to budgets. This helps in ensuring that projects remain financially on track, preventing overspending and ensuring optimal resource allocation.

Accurate Asset Tracking reports

Project Management

Enhance your project management capabilities by managing timelines and schedules effectively. The CWIP feature ensures that projects are completed on time by keeping a close eye on development and expenses related to assets

Key Features of Capital Work in Progress

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Real-Time Tracking

Track the development of assets that are still being built in real-time. This feature allows you to monitor each project's progress continuously, providing up-to-date information for better decision-making.

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Cost Monitoring

Keep track of each project's expenditures to ensure effective resource use. The Capital Work in Progress feature enables you to monitor costs closely, ensuring that spending is within budget and resources are utilized efficiently

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Progress Reports

Create detailed progress reports to update stakeholders on your projects' status. These reports help in maintaining transparency and keeping everyone informed about the project's developments and milestones

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Compliance with Accounting Rules

Adhere to accounting rules for capital projects and asset capitalization. The CWIP feature ensures that all financial aspects of your capital projects comply with accounting standards, providing accurate and compliant financial reporting

Benefits of Using CWIP - Capital Work in Progress

Asset Movement History
Schedule Management

Manage project schedules effectively and ensure that timelines are met. The CWIP feature helps in organizing and tracking project schedules, making it easier to manage deadlines and avoid delays

Asset Movement History
Risk Mitigation

Identify potential risks and delays early on, enabling prompt risk mitigation. By monitoring projects in real-time, you can detect issues early and take necessary actions to minimize risks and ensure project success

Asset Movement History
Completion Forecasting

Use real-time data to forecast completion dates accurately. This helps in making necessary preparations and adjustments to ensure projects are completed on time

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Track your inventories with accurate numbers and get notified whenever inventory goes below the defined level. Manage them efficiently with proper inventory management.

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Audit & Physical Verifications

Asset verification is crucial for the asset auditing process. Moreover, the condition of each asset is also checked and tracked in the asset audit procedure.

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Preventive Maintenance

Keep assets maintained & perform asset maintenance before breakdown occurs. With preventive maintenance, you can optimize asset performance as well.

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Breakdowns & Incidents

Every incident is recorded, and the incident management team tries to resolve the incident quickly so that damage control can be done as quickly as possible.

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Utility Tracking

Utility tracking can be helpful in minimizing utility bills. As utility tracking alert you on daily basis about utility consumption.

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Assets & Items Requisitions

In a huge organization, item requisition is important because it decreases the chances of fraudulent activities and makes operations organized.

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Purchase Orders & Receiving

For asset maintenance, maintenance team needs spare parts & for this purchase order is created & order is received.

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Mobile Apps

Keep track of assets, schedule maintenance, make changes in operation with your mobile when you are away from your office!

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Security

Asset Infinity is hosted on Microsoft Azure and has enterprise grade security built-in.

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Support

We understand the value of our clients, that is why we believe in going extra mile for customers and provide support 24*7.

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Integrations

Our software is developed in a way so that integration can be done easily. We know an organization uses several applications and data collected from these applications is used to increase efficiency.

Got any questions? We have the answers.

Can we use existing SAP code as asset code?
Does Asset code change when transferring assets between locations?
Do you suggest changing asset code when location changes?
Is it possible to migrate my SAP or ERP data into Asset Infinity?
If we added an Asset by mistake, is it possible to delete it completely?
What is the information mentioned in Bar Code and QR Codes?
Are all asset codes system generated?
When the customer scans the code will they get all the information?
Why it is not possible to scan the code with any other scanner or App?
We already have QR codes and barcodes. Do we need to re-install them?
If there is an existing sticker tag on the asset, do we need to sticker tag it again?
When we transfer any asset from one location to another does the latitude longitude information get changed automatically?
It is possible to put Depreciation and other details at Block level and not Asset Level?
Is it possible to predefine the end of life and other things of the asset?
What are the provisions for dealing with duplicity of asset records?
Can we customize the sticker or not?
Can we put a coloured Logo on our asset sticker?
Which stickers and printers should be used to print asset stickers/ asset tags?
Is it possible to print another sticker if the first one is damaged? In same price.
What is the life of Stickers?
Will every user see all the information of an asset?
If I have multiple type of users (like viewers, approvers & transaction-making users) does the product price vary?
In this application can I calculate depreciation?
What are delivery notes?
Can we generate delivery notes/asset receipt confirmations from the system?
Can we define Parent-child assets?
Can we create a custom field for assets at category level?
Is there an approval process for transferring or discarding assets?
My ERP system has limited asset information fields. Can we add more info when we add the asset to Asset Infinity?
How will I transfer my data to the Asset Infinity application?
How to get started in Asset Infinity? I have data in excel! Is your template customizable?