Real Asset Management: Integrating Asset Life Cycle Processes

Real Asset Management: Integrating Asset Life Cycle Processes

Real Asset Management (RAM), the Bromley, U.K. based software and services company leverages over three decades of its expertise to address today’s challenging asset management requirements of global enterprises. Enterprises employing primitive asset management technologies struggle with the inadequacies and thus managing the assets becomes a monumental task. As a result, these companies have to spend much of their valuable time with complicated spreadsheet formulas and battle against errors and anomalies while trying to produce correct depreciation calculations. RAM offers a complete software package which takes a holistic approach to fix these asset management challenges by integrating the entire asset life cycle processes for private and public sector organizations, and multi-national, multi-location and single-site companies. The firm’s solutions can be deployed on premise or as SaaS and also supports latest mobile application technologies.

RAM has developed and designed the series4000 suite, their key solution, to manage—from acquiring to retiring, all assets of an organization and to ensure that they are maintained, utilized, accounted, moved, revalued, tracked, and disposed in a systematic manner. The solution is designed to manage multiple market sectors including the commercial, healthcare, education, government, military and defense, and non-profit enterprises. The solution offers unparalleled fixed asset controls, improving compliance and saving time—especially during audits, by keeping ready all the asset registers accurate and making sure that the assets are properly insured and in compliance with accounting and tax legislation. Series4000 also provides complete information on asset status, history, and location for audit trail purposes.

The software’s fully integrated range of modules like Asset4000 and Project4000 streamlines the management operations and reduces errors by catering to the industry-specific requirements across multiple departments and locations through a single database system. A single input screen enables fast additions and updates of assets into the centralized fixed asset register.

A single input screen enables fast additions and updates of assets into the centralized fixed asset register

The solution operates on a powerful and centralized fixed asset management register incorporated in the series4000 suite. Further, the firm offers asset tracking software which provides real time visibility into every assets and departments to help organizations reduce operational costs and improving security through continuous tracking. “The system gives us a snapshot view of every single department at the click of a button,” says Ben Grundy, Maintenance Manager at Casepak, one of the firm’s valid customers.

RAM’s efficacy in resolving customers’ roadblocks in managing their assets have encouraged many large organizations to partner with them. For instance, the American Dental Partners (ADPI), providing business services to dental practices across the U.S. supports more than 20 affiliated dental groups and approximately 300 dental clinics. As part of their business services, they manage fixed assets, including leasehold improvements, dental equipments, furniture, and computers—summing to fifty thousand assets. The client’s existing solution was not able to support the management and control of these large amounts of assets and the volume of data involved also requiring additional Excel files. “We needed a capital project reporting and depreciation capabilities within a comprehensive software package,” says Tim Caffrey who heads the fixed asset management team at ADPI. To straighten out the issue, RAM implemented the Asset4000 and Project4000 solutions which resolved the entire set of challenges meanwhile helping the customer go paperless.