Last week, the RAM team and I attended the CIPFA Annual Conference and Exhibition, held again this year at the Novotel West London on 7 – 9 July.
Joined by more than 800 public finance and accountancy professionals from across all public services, the conference provided delegates with in-depth insight and analysis, exploring the challenges and suggesting solutions to the most pressing issues facing us all in the post recession world.
We found the atmosphere at this year's event to be very positive and we took the opportunity to catch up with both prospects and clients to discuss their various requirements and concerns. There was a buzz around a number of fixed asset topics, particularly the following:
- Spreadsheets – despite the ongoing requirements to comply with IFRS and component accounting regulations, a high number of organisations are still using spreadsheet based systems. It was apparent that many of those which have been holding off are now recognising the time and cost saving efficiencies of implementing a best of breed system and looking to make the move before next year's closedown.
- Transport & Infrastructure – the change to the Local Government accounting code whereby Local Authorities will be required to include all transport, highways and infrastructure assets on the balance sheet and manage these assets at closedown was a subject of much debate. We spent time discussing the options and RAM's approach to the changes and provided clarity and confidence amongst prospects and clients alike of a clearer way ahead and most importantly, a solution to the problem.
- Fast Closedown – led by many of the larger authorities in the South East, there is now a requirement to adopt a fast closedown procedure within the fixed asset register at year end. RAM is already helping a number of its clients to do this through its specialist software which supports financial period/year flexibility and enables the completion of year end within the new tighter deadlines.
RAM also took the opportunity to promote its SaaS monthly subscription service for its capital and lease accounting solutions which was received with great interest. In a climate dominated by budget cuts, it provides organisations with a realistic option of having access to an affordable and proven solution.
If you attended the conference and want to hear a little more about the services we provide to the public sector then please visit our solutions page, email firstname.lastname@example.org or give one of our friendly team a call on +44 (0)1689 892 137.
And, if we didn't see you this year we hope to catch you at the next CIPFA conference.