Universities, community colleges, and school districts are required to perform annual inventory audits to verify their assets. Institutions with grant-funded purchases face additional audit requirements, and state-affiliated institutions have special compliance needs as they are funded by taxpayers.
Performing these audits manually is cumbersome, tedious, and error-prone — consuming significant human capital across institutions with assets worth tens of millions of dollars, ranging from IT and lab equipment to HVAC, vehicles, and furniture spread across dozens of locations.
