An asset register without unified classification is a free-text search file: the same asset appears in three different spellings across three sites, making aggregation, comparison and accurate depreciation impossible.
We build a hierarchical classification tree fitted to the entity's activity and aligned with its accounting policy and applicable standards — main class, sub-class, type, then specification — with systematic coding, proposed useful lives and depreciation rates per class.
We also remediate the existing register: unifying naming, merging duplicates and correcting misclassifications that produce incorrect depreciation, then hand over a written classification manual your teams apply to every new asset so the drift does not return.
Who this service is for
- Entities managing a large, unstructured asset register
- Companies migrating data into a new ERP
- Finance functions reviewing depreciation policy
- Multi-branch organisations seeking naming consistency
- Entities preparing for a tagging and coding project
How we work
- 01
Analysing the current register
Examining existing naming and classes and measuring duplication and drift.
- 02
Building the tree
Designing a hierarchical structure aligned with the activity and accounting policy.
- 03
Migration and cleansing
Reclassifying existing assets, merging duplicates and correcting classes.
- 04
Sustainability manual
Delivering a written classification manual and rules for adding new assets.
Frequently asked questions
Will the classification fit our ERP?
Yes. We design the tree to match the field structure of your system and deliver an import-ready file, whether the platform is SAP, Oracle or another.
Who sets useful lives and depreciation rates?
We propose them based on asset nature, operating conditions and accepted practice; final approval remains with the finance function and its external auditor.
Can classification be done without a field inventory?
It can be done desk-based, but with less impact, since much of the drift only surfaces on inspection. We recommend classifying within the inventory project so the register is correct at source.