internal planning and control. This involved both a streamlined communication between the accounting and technical department, however, poor asset records and missing documentation challenged proper accounting, control and management of fixed and property assets. CPCON professionals used their extensive knowledge in accounting sections and barcode technology to advise fixed asset and property managers, implementing the best-practices of fixed asset management through services and software solutions. Promoting an increased database accuracy, enhanced internal control and improved financial supervision.

More recently, the wider adoption of the International Financial Reporting Standards (IFRS) encouraged companies to increase scrutiny over proper documentation of financial records, tax reporting, and risk management. Yet, barcode offers manual tracking of assets susceptible to inaccurate data collection, longer inventory procedures and financial oversight. As a response, CPCON has invested in embodying Radio-frequency Identification (RFID) to automatize fixed asset management, with the use of RFID Tags, Readers and Software systems. In 2017, CPCON has undertaken the largest RFID deployment to connect and digitize more than 2,000,000 fixed assets distributed across 4,000 municipalities. Managing assets using RFID allowed automatic data collection and real-time visibility of items, that led to accurate reporting, reduced inventory period and streamlined regulatory compliance.