Hillingdon Council has recently selected Real Asset Management (RAM) to support the management of its fixed assets through the implementation of RAM’s best of breed asset management solution.
Corporate Director of Finance at Hillingdon Council, Paul Whaymand, told us about how RAM’s software will enable the council to improve the speed and accuracy of entries to its asset register and easily produce accounting reports that comply with the latest CIPFA Code of Practice.
“Prior to engaging with RAM, we used a spreadsheet system to manage fixed asset data and produce reports for audit purposes. By moving to RAM’s system, we will remove the control risks inherent with the use of spreadsheets and establish a clear audit trail that had previously been a difficult process.
“Our previous asset management system provided basic functionality but RAM’s solution will not only improve the speed of producing accurate entries to the financial ledger but will also provide us with a deeper understanding of the history of an asset and its changing value within the accounts, which is a priority for the council.
“We chose RAM because it was important for us to have a solution that guaranteed flexibility, speed and standard outputs for known local authority reporting requirements. These factors, as well as the additional capacity to export all reports into Excel in a clean usable format, meant RAM stood out above the alternative solutions.
“Following the implementation of RAM’s solution, we expect to have increased confidence in reporting accuracy, peace of mind that we are continually meeting key industry regulations and the ability to quickly access information to guide management decisions.???
If you would like to talk to us about being audit and IFRS compliant and how capital accounting software can benefit for your organisation 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.
Hillingdon Council has its say......
May 20 2015