RAM helps Sydenhams to build a new fixed asset system

Builders Merchant chain outgrows spreadsheets following rapid growth

Sydenhams, the timber and building suppliers, has selected Real Asset Management's Asset4000 (fixed asset management solution), following substantial growth and the development of new sites throughout the South of England. Established in 1874, Sydenhams is an independent company with a long tradition of supplying timber and building materials throughout Hampshire, Wiltshire and Dorset. It also has a number of specialist businesses, which can design and manufacture buildings and trusses and supply ranges of hardwoods and softwoods. In 2002, the group was voted 'Best Independent Builders Merchant of the Year'.

With the number of UK outlets growing to 14, the spreadsheet system used to manage the asset base had become outdated. Sarah Brake, group accountant at Sydenhams, explained the problem: “The series of spreadsheets had become too big to manage and it was very labour intensive keeping them up to date and accurate. The vast number of formulae made it prone to error and the finance team became concerned with its reliability. The company had simply outgrown the current method and it was time to move on.”

“Real Asset Management was invited in to demonstrate its specialist system,” continued Brake. “The financial director had used its Asset4000 system at a previous company and had been very impressed with its capabilities. The demonstration confirmed this to me. It was easy to use, it could carry out revaluations on properties and it had a comprehensive reporting facility. These were the main elements I was looking for in a system.”

Sydenhams has an asset register which consists of vehicles, forklifts, plant, machinery and properties. “Many of these items move around between sites,” explained Brake. “The implementation of Asset4000 will help to track these items and, unlike spreadsheets, will provide a history of their movements. It should really help to improve security and the utilisation of assets.

“Many of Sydenhams properties are owned by our parent company,” concluded Brake. “These need to be re-valued periodically. The functionality of Asset4000 allows us to carry out these calculations in an automated process, again providing a full history. The software should really help us to reduce administration time and manage assets more effectively.”