Case Study
Sietz Auto technologies Private Limited
Sietz
85% Average Reduction in TAT
Tag My Assets implemented a comprehensive fixed asset management solution for Sietz using its Fixed Assets Management System (FAMS) to streamline asset accounting and control. Prior to implementation, Sietz relied on Excel sheets for asset record management, which led to time-consuming tasks and difficulty in tracking asset sales, disposals, and depreciation. By deploying FAMS, the company achieved a 85% reduction in turnaround time (TAT) for accounting and asset-related tasks, improved the accuracy of depreciation calculations in compliance with statutory norms, and gained better visibility into asset lifecycle events.
The structured fixed asset management approach replaces manual spreadsheets with a digital system that simplifies asset tracking, reporting, and reconciliation. This transformation enhanced operational efficiency, reduced administrative burden, and ensured consistent monitoring of asset sales and disposals. The solution supports audit readiness, accurate fixed asset registers, and reliable asset accounting processes that are annual audit and compliance-friendly.
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How Sietz Improved Fixed Asset Control & Audit Readiness Using TagMyAssets FAMS
Sietz implemented a structured fixed asset management solution using the Tag My Assets Fixed Assets Management System (FAMS) to improve control, accounting accuracy, and operational efficiency. The fixed asset management system replaced manual Excel-based asset tracking with a centralized digital platform, enabling accurate maintenance of the Fixed Asset Register (FAR). Through systematic asset classification, depreciation calculation, and asset lifecycle tracking, Sietz achieved improved visibility over asset location, usage, sale, and disposal.
The implementation of FAMS resulted in a significant reduction in turnaround time for fixed asset accounting activities, improved depreciation accuracy, and simplified reconciliation processes. The digital asset management framework strengthened internal controls and supported audit-ready documentation for statutory and internal audits. The structured reporting and transparent asset records provided reliable support for compliance, financial reporting, and management review.
Fixed asset management using Tag My Assets FAMS proved effective in reducing manual effort, minimizing errors, and ensuring consistent monitoring of fixed assets across departments. The solution supports organizations seeking efficient asset accounting, improved audit readiness, and scalable fixed asset control systems.