Managing assets in the Housing sector

Feb 08 2013

RAM has been providing the housing industry with Fixed Asset Management solutions for over 20 years and was shortlisted for the ‘Most Innovative IT system’ award at the Housing Innovation Awards last year.

Asset4000, part of RAM’s Series4000 offering, is designed to assist Housing Associations in meeting the legislative requirements of the sector, including SORP 2010 and IFRS. Asset4000 can control, track and record changes that occur within an asset’s lifetime, calculate depreciation and maintain a comprehensive audit trail.

Many of RAM’s clients in the Housing industry find that using its Fixed Asset Management solution ensures compliance and makes their jobs and processes quicker, easier and more efficient.

Gamal Haddou, Finance Director at Cassiltoun Housing Association, comments, “Efficient and accurate component accounting requires a level of detail that is beyond the capabilities of both traditional finance solutions and housing asset management systems. Our decision to implement RAM’s Asset4000 software provides us with a proven, best-in-class component accounting platform that allows us to control, track and accurately record changes that occur within the lifetime of each individual asset. Not only does this ensure SORP compliance at all times, but it also gives us much better management information and streamlines admin processes within the finance department.???

RAM also offers its Housing customers who have not fully split components to unit level, a data preparation service which includes the below:

  • Modelling facility – RAM consultants work on-site with the finance team to agree component element profiles, for each type of property (‘unit’).
  • Data pooling – Consultants can then help consolidate disparate asset data from housing management systems and old asset management systems or spreadsheets.
  • Database creation – RAM will then take the ‘clean’ data and begin breaking it down into component detail using the approved profiles. The resulting database will then be ready for component level asset management, and will be checked and loaded onto RAM’s component accounting solution.

 

So don’t let the approaching stresses of year end get you down. Make sure you have the correct systems in place to help you make the most of your assets.

For more information about Real Asset Management and our solutions for the Housing sector visit our housing page