University recognises excellence in asset management
University of Bradford hails Asset4000 as invaluable tool for comprehensive management of assets worth £75 million
University of Bradford, one of the UK's leading universities, now manages £75 million of fixed assets with Asset4000 (asset accounting software) from Real Asset Management (RAM). University of Bradford is renowned as a modern and forward-thinking teaching and learning environment with excellent, state-of-the-art facilities. Since 1999, the University has managed its extensive and varied assets with Asset4000 from RAM. This software provides a system that controls and manages all assets at component level, providing highly accurate and reliable depreciation calculations as well as sophisticated financial forecasting tools.
RAM is a leading provider of software solutions for the control of fixed assets. Its Series4000 range, of which Asset4000 is a module, has been implemented by over 3,000 organisations in more than 70 countries. It incorporates every aspect of fixed asset accounting, capital project control, lessee asset accounting, asset budgeting, help desk management, inventory control, asset tracking, maintenance management and capital allowance calculations in one comprehensive solution.
The University of Bradford finance department relies on Asset4000 to comprehensively manage its £75 million assets, which span multiple categories and departments. It replaced the University's historic, paper based asset management system in 1999 and is now used by financial officers as one easily accessible centralised register to reconcile, capitalise and depreciate assets across the university. Maxine Daglan-Smith, Financial Accounts Assistant, commented, "We rely completely on Asset4000 to manage all assets with a purchase value of £10,000 and above. We analyse the value of our assets monthly and decide what needs to be capitalised, including the maintenance of all the University's buildings and any new office refurbishment."
For University of Bradford, it is the comprehensive, user-definable analysis and reporting capabilities of Asset4000 that have proved particularly useful in managing the asset register. RAM's system replaced an outdated one which could not accommodate the changing needs of the university's complex reporting requirements. Daglan-Smith said, "Asset4000 has brought everything into line. We can extract any figures we need really easily, which helps all of our financial accounts. The reports produced by this system are much more straightforward, comprehensive and instantaneous than anything the paper reporting that we used previously could generate." Daglan-Smith continued, "With Asset4000, all report details are held as separate, auditable records which highlight audit trails and there is a single ergonomic input screen that makes for quick and easy additions of asset details with maximum visibility."
Asset4000 has enabled University of Bradford to stay on track with audits for over seven years by providing the finance and accounting teams with the latest, regularly updated technology to ensure legal compliance and best possible practice. RAM's products are created and supported by a committed team of expert consultants and developers. Maxine Daglan-Smith concluded, "Our working relationship and contact with RAM is fantastic. Asset4000 is updated easily and regularly with CDs sent straight to the university's computer service department by RAM. Asset4000 is a very easy system to learn and use and saves us a lot of time. It's brilliant really!"