I am pleased to announce that we have joined forces with Real Asset Management (RAM) to provide a component level financial asset management and maintenance system.
We recognise that there is an urgent need for social housing providers to be able to access detailed, reliable component information in time to meet the SoRP compliance deadline in April 2012.
Social housing finance departments and housing asset management teams both need information at asset component level, but for different operational reasons and at different levels of detail.
The need to provide SoRP compliant component accounting means that finance and housing departments will need to share property data to a level of detail that hasn't previously been necessary. By linking to Real Asset Management's proven component accounting system we are providing an immediate and effective route to compliance.
Combining resources will delivers significant savings for our customers. For example; sharing property asset data means that planned component replacement cycles will automatically trigger disposal and acquisition events in the asset accounting process. This reduces data entry and ensures accuracy and compatibility. The ability to associate forecast costs for depreciation, replacement and maintenance and to analyse the results at component, asset or asset group levels improves budgetary control.
Asset management and Finance are both complex disciplines and we are pleased to be collaborating with an organisation that has genuine depth of understanding of finance standards and practice. We believe that combining our comprehensive asset management system with the proven market leading expertise in component accounting provided by Real Asset Management delivers a genuinely flexible,
easy-to-use, cost effective, combined system with impressive functionality.
RAM is the UK's leading specialist provider of SoRP/IFRS (International Financial Reporting Standards) compliant component accounting software to the social housing sector. With over 20 years proven experience, RAM's asset register, Asset4000, has almost 100 Housing Association customers as well as 400+ public sector organisations. |
