RAM’s new venture

Software to automate depreciation calculations on properties significantly cuts valuable administration time

Venture Housing Association, a charitable provider of family homes in the north west, has implemented RAM's Asset4000 (Fixed Asset Management Software) solution to automate the process of managing calculations associated with properties and office-based fixed assets.

Asset4000, which has been implemented primarily to address the issue of depreciation on properties, replaced a manual/spreadsheet based system. “We needed software dedicated to fixed asset management that addressed the very specific needs of the housing sector,” explained Ron Heydon, financial controller at Venture. “As a small organisation, it is very important for staff to utilise their time effectively and this software has allowed us to reduce the time we spend managing assets by two thirds.”

“As the majority of our schemes are associated with a grant, it is vital for us to account for these grants on the register,” continued Heydon. “The real advantage of Asset4000 is that once the parameters are set, the system manages itself, producing accurate figures that correspond with our depreciation policy and all SORP requirements. There is no requirement to calculate additional formulas on a spreadsheet like many of the integrated software packages that are traditionally used in the housing sector.”

Venture uses Asset4000 to manage over 1200 properties across 320 schemes. In addition to this, the software is being used to administer office based fixed assets, such as furniture and IT items.

“The control of fixed assets at our offices has also improved,” confirmed Heydon. “We are able to produce a list of assets by department and record all relevant details such as serial numbers, users, purchase values, depreciation rules etc. It really helps us to make efficient use of resources and maintain an up to date inventory.”

“Asset4000 has been very cost effective for us,” concluded Heydon. “Although it was the most comprehensive system we looked at, it has the flexibility to suit both small and large organisations. The reporting tool assists with both statutory and internal management reports and is totally configurable. It's good to have the option to utilise the full thrust of its functionality in the future, like some of the larger housing associations are doing. We plan to utilise the capital schemes module if we are involved in any more developments and it's good to have the option of linking it to our Comino housing system.”

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