Celebrating 10 years of Lifecycle Asset Management with AssetWorks
Located in Baton Rouge, Louisiana, the Louisiana Division of Administration’s Property Assistance Agency (LPAA) is responsible for the control and disposition of all movable assets owned by the State. As stewards of State assets bought with taxpayer dollars, the mission of LPAA includes providing “a savings and return on State and Federal monies through the redistribution and sale of surplus property.”
Currently, Louisiana State law requires that all assets with an acquisition cost of $1000 or greater be barcode tagged and tracked throughout their lifespan. Then, along with all other State assets, their disposal is managed by LPAA. A “Preference Buyer Program” requires that all items designated as surplus are held by LPAA for 45 days, giving other State Agencies and Local Governments a chance to purchase the items. At the end of this period, all unclaimed items enter an auction cycle where they are sold either online or through live public auction.
In the early 2000s, LPAA relied on a highly manual process for handling the control and disposition of several hundred thousand State assets each year. At that time, assets were tracked using pen and paper and inventory results were manually entered into a custom mainframe solution. Assets designated for surplus were submitted one‐by‐one via manual request. They were also manually lotted for auction and ultimately sold via pen and paper. Additionally, State law in Louisiana requires that all surplus property be brought into the surplus warehouse before being sold or redistributed. Picking up an asset ready for redistribution or sale could take up to 3 months.
The Louisiana Property Assistance Agency implemented AssetWorks’ software solution in early 2003. The solution, which includes asset, surplus, and inventory management software, continues to help the agency manage assets throughout their lifecycle, meeting the demands of the nearly 600 agencies and 1200 users served.
Asset Management Software (AMS): for tracking, depreciating, and reporting on fixed assets. Transfer and change request management functionality, combined with approval processes and a detailed audit trail allow assets to be accurately tracked throughout their lifecycle.
Surplus Management Software (SMS): includes functional modules for transfers, receiving, warehouse management, redistribution, sale, and disposal, reporting and accounting, and Federal Surplus.
Scan & Validate™ (S&V): scan barcodes, edit and run reports while in the field, reconcile to original asset records online and update primary asset management software by exporting inventory results.
By automating manual processes, AssetWorks has helped LPAA and State Agencies across Louisiana streamline operations and realize new org nizational efficiencies. Below are just a few of the improvements realized by the State as a result of AssetWorks’ AMS, SMS, and S&V software solutions.
Asset & Inventory Management
- Approximately 600 State Agencies can access asset data quickly and easily, running standard and custom reports as needed.
- Handheld scanners have replaced clipboards, paper, and highlighters for conducting physical inventories
- Agencies across the State have been able to conduct annual physical inventories in less time, with less people and more accurate results.
- Conducting an inventory of the surplus warehouse no longer requires the warehouse to close for two weeks. Instead, 4‐5 people can inventory nearly 25,000 assets in just 2 days while the warehouse remains open.
Surplus Asset Management
- Agencies no longer need to store surplus assets onsite for extended periods of time. As a result of online requests and by re‐appropriating staff, assets are picked up quickly.
- Agencies can submit one form for all items being disposed of at a particular site, a big improvement over submitting one form per item.
- The auction process has been sped up with handheld scanners being used for creating lots, invoices, and collections.
- The software automatically designates reimbursements to Agencies for assets disposed of at auction or through direct sales eliminating manual entry errors.
Managing nearly 500,000 assets per year is not an easy task, but with asset, inventory, and surplus management software from AssetWorks, LPAA and the State of Louisiana have been able to operate more efficiently, effectively, and profitably, providing a high level of accountability for the State’s movable property.