Introduction to Tangible Assets
The Transact Tangible Assets Catalog module provides banks and financial institutions a comprehensive framework for effectively managing their tangible assets. It offers a structured approach to capture, store, and update detailed static information pertaining to these assets, ensuring the establishment of a robust data repository. Whether these tangible assets are utilized for internal operations within the institution or offered to clients as part of their business services, maintaining meticulous records is essential. This module empowers institutions to capture and manage non-financial static details, including specifications, condition assessments, and ownership records. It also facilitates the logging of various lifecycle events, also known as Transactional Events, associated with the assets. These events encompass valuations, usage details, incident reports, insurance information, and so on. By leveraging the capabilities of the Transact Tangible Assets catalog module, banks can achieve a deeper understanding of the nature and value of their assets, enabling them to make informed decisions.
Tangible Assets Catalog (TA) module is built on the Transact Arrangement Architecture Framework. Product Line Tangible Assets enable banks to manage the tangible assets classified as
- Equipments
- Vehicles
- Land and Buildings
The highlights of Tangible Assets module are as follows:
- Allows to capture the basic asset details of assets falling under the classification of Land and Buildings, Vehicles and Equipments during arrangement creation.
- Allows to capture the transactional details like valuation details, inspection details, insurance details, maintenance details, incident details and usage details through separate arrangement activities.
- Allows to link the assets to the Fixed Asset Management module, that helps to monitor the financial perspective of the asset.
- Customer attribute is irreverent for Tangible Asset arrangements and during the arrangement creation, the system does not mandate the customer reference to create the arrangement.
Product Configuration
This is covered as part of feature configuration. There is no specific product configuration.
Illustrating Model Parameters
Below is the list of sample products available in Model bank under respective product groups.
|
Product Group |
Product Name |
Product Attributes |
|---|---|---|
|
Vehicles |
Cars |
Enables the user to onboard and capture the static details of cars and make them available as part of the bank’s asset catalog. Vehicle Product group supports Vehicle, Officers, and basic details. |
|
Equipments |
Air Conditioner |
Enables the user to onboard and capture the static details of cars and make them available as part of the bank’s asset catalog. Equipments Product group supports Equipments, Officers, and basic details. |
|
Land and Buildings |
Buildings - Freehold |
Enables the user to onboard and capture the static details of any building and make it available as part of the bank’s asset catalog. Land and Buildings Product group supports Land and Buildings, Officers, and basic details. |
Illustrating Model Products
Model products are not applicable for this module.
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