The Museum of London tells the story of the Capital from 47,000 B.C to the present day and is an award winning charitable institution funded by a variety of organisations and individuals including The City of London and GLA.
We care for more than two million objects in our collections and attract over 400,000 visitors per year. The Museum of London Docklands opened in 2003 and tells the story of London’s connections across the globe exploring the history of London’s river, port and people.
Our finance department decided to implement Real Asset Management’s Asset4000 after previously recording our assets using a spreadsheet-based model. The spreadsheet-based model did not allow for easy access to each asset’s history and could therefore lead to inaccuracies when calculating the value of the asset register, which consists of approximately 4000 assets.
By implementing Asset4000, we are now able to track each asset much more easily, and calculate depreciation values quickly and accurately. The Asset4000 solution also has the ability to integrate with our accounting software, IRIS Exchequer, eliminating the need to re-key data between asset management and accounting systems, which reduces the volume of manual administration in the finance department.
The implementation of RAM’s Asset4000 system provides us with a much more sophisticated, user-friendly and functionally rich asset management platform. We know that we have highly detailed and accurate asset information available at our fingertips.
Another benefit of RAM’s Asset4000 system is that we can accurately keep track of our asset values across each department. We can now contact individual departments and employees to enquire about the asset, confirming that it is still in good order, it’s still in use and hasn’t been disposed of – which makes everyone in the organisation more accountable.
We have really benefitted from having this greater level of accountability and an auditable trail, which we didn’t previously have using the spreadsheet system.
For more information about the Museum of London visit www.museumoflondon.org.uk.