Optimizing Leased Asset Management with Custom SWIFT Transactions
Introduction
In response to the need for a more efficient Leased Asset Management (LAM) Inventory Reconciliation (LIR) process, our client, a prominent service-based Fortune 500 company – US/USI Technology Support Services (TSS) undertook a strategic initiative. This case study delves into the challenges faced, the strategic approach taken to overcome them, and the impactful results achieved through the implementation of custom SWIFT transactions by the LMTEQ team.
The Objective
The goal for our team was to Automate the weekly audit process for LAM storage locations, replacing the manual approach. This involved developing a custom transaction code (BIC or SWIFT Code) akin to the current Asset check-in process, automating asset reconciliation, and generating comprehensive reports, including end-of-life (EOL) details for Regional Asset Managers.
Challenges and Pain Points
Overcoming Challenges
Our team proposed a customized solution involving the creation of two custom SWIFT transactions. One facilitated the scanning and reconciliation process, while the other generated comprehensive reports.
Results
Conclusion
By addressing the challenges in the existing manual audit process, our team successfully implemented a custom SWIFT solution that streamlined asset management. The integration of automated scanning, reconciliation, and reporting not only saved significant time but also improved accuracy and asset control. The immediate notifications and increased flexibility in processing scans contributed to a more efficient and responsive asset management system, showcasing the effectiveness of a tailored solution in optimizing internal processes.
Why Choose LMTEQ for SAP Fieldglass Support
- Specialized SAP Fieldglass Expertise.
- Tailored Configuration and Integration.
- 24/7 Technical Support and Issue Resolution.
- Proactive System Monitoring and Maintenance.
- Cost-Efficient and Scalable Solutions.