Optimizing Asset Management for the City of Tshwane

Client Overview

• Client: City of Tshwane
• Client’s Contact Person: Elane Richards ([email protected]) | Ntombokolo C. Gangathela ([email protected])
• Duration of Collaboration: 6 months
• Execution Level: Local

Project Overview

In a dynamic collaboration with the City of Tshwane (CoT), Synergy Evolution undertook a comprehensive project focused on enhancing the efficiency of fixed asset management. 

The project, executed at the local level, spanned six months and involved a range of tasks to optimize the City’s Fixed Asset Management and related processes.

Description Of Work

Synergy Evolution provided a suite of services, including the supply of Asset Management & Accounting services, comprising the physical verification and reconciliation of the Fixed Asset Register (FAR). 

The scope of work also included the implementation of an Asset Management Verification System, complemented by ongoing Support & Maintenance Services.

Scope of Work Highlights

• Physical Verification & Reconciliation: Conducted a thorough physical verification and reconciliation of the Fixed Asset Register, ensuring accuracy and alignment with actual assets.
• Asset Management Verification System Implementation: Implemented a robust Asset Management Verification System, enhancing the City’s ability to monitor, track, and manage its extensive asset portfolio.
• Support & Maintenance Services: Provided continuous support and maintenance services to ensure the seamless operation of the newly implemented system.

Financials

• Value of Contract: 4,800,000.00 ZAR
• Asset Count: 357,000

Results Obtained

The collaboration yielded substantial results, with Synergy Evolution contributing to the City of Tshwane’s success in obtaining an unqualified audit opinion. 

The meticulous approach to fixed asset management, coupled with the implementation of an advanced Asset Management Verification System, played a pivotal role in achieving this noteworthy outcome.

Testimonial

Elane Richards, a key contact person from the City of Tshwane, expressed satisfaction with the project outcomes, stating, “Synergy Evolution demonstrated exceptional expertise in fixed asset management. 

Their comprehensive approach, from physical verification to system implementation, significantly contributed to our success in obtaining an unqualified audit opinion.”

Lessons Learned And Future Prospects

Reflecting on the project, we as Synergy Evolution identified valuable lessons that will inform future endeavors. 

The success of this collaboration positions the company as a trusted partner for municipalities and organizations seeking excellence in asset management.

Conclusion

Synergy Evolution with the City of Tshwane stands as a testament to their commitment to delivering top-notch asset management solutions. 

The project’s success not only optimized the City’s fixed asset processes but also played a crucial role in attaining a favorable audit opinion.

As Synergy Evolution we continue to evolve, our expertise and dedication positions us as a preferred partner for organizations looking to streamline their asset management practices.