Capital Project Control Software

RAM's expenditure control module enables 'Commitments' (orders raised, internal charges) and 'Spend' (invoices received, journals) to be recorded against budgets for both capital and expense projects. A project cost control system, the software maintains a detailed Work-in-Progress (WIP) asset register which can optionally transfer capitalised items across to the fixed asset register. It gives complete control of cash-flows, budgets and project expenses.

Features and Benefits:

• Complete control of cash-flows, budgets and projects from start to finish.
• Project costs can be accumulated as multiple Work-in-Progress (WIP) assets which can be transferred to the asset register on strategic capitalisation dates.
• Prepared budgets can be split across multiple projects and calculated automatically.
• Budget amounts can be further divided as appropriate into categories and sub-categories.
• Projects are entered as sanctioned amounts against budgets and may be further detailed at category and sub-category level.
• Order items (commitments) and invoice items (spend) are input directly or received electronically as transactions from other systems, such as purchase order and accounts payable systems.
• Work-in-Progress assets are valued at the level of expense incurred and may then be indexed.
• Interest may be added to the indexed amount to produce a closing value before optional transfer to the asset register.
• Additional features include budget and project revisions and forecasts.
• Extensive reporting options are provided which show commitment and spend progress at multiple analysis levels. Reports may be additionally generated for the analysis of orders and invoices.

Essential Budgeting

Budgets are at the forefront of this module with each generating a unique identifying code and showing a breakdown of the actual and forecasted expenditure for any pre-defined period. Values are updated automatically when such transactions as invoices and credit notes are processed, ensuring that financial information is consistently current.

Project Cost Control

The software ensures that project-associated costs are maintained and controlled at every stage by incorporating a range of transaction types that are used to record both commitment and spend. Upon entry, and with the use of the 'Import Wizard' facility, financial details associated with such transactions as purchase orders, invoices, credit notes, journals and accruals are subject to automatic update to ensure that key figures are accurate. The system also enables the construction of WIP assets by accumulating capital spend in a WIP register for later transfer. Individual transactions can be assigned to specific WIP assets or split across a number of items and defined at project, order or invoice level.

Whether used independently or in conjunction with other RAM modules, such as the maintenance management software (with which additional scalability can be harnessed to monitor and analyse maintenance budgets) the project module is an invaluable element of the fixed asset management suite.

Electronic Document Management

With the ability to integrate seamlessly with RAM's fixed asset register, its document management module ensures that all associated and relevant information is stored against the appropriate record or record-type for ease of access and speedy retrieval. Documents such as contracts, licenses, spreadsheets, photographs, quotes, drawings and indeed, almost any form of electronic file, may be associated with the main record in order that informed decisions regarding that item can be made.

Business Activity Monitoring

RAM's Business Activity Monitoring (BAM) tool can be layered over any of RAM's asset management software modules. Based on zero-latency technology, it immediately issues email and report alerts or takes action when user-specified data relationship situations occur, such as an email alert triggered when an approved invoice value (spend) exceeds the allocated budget, ensuring real time control over budgets.