Curo, the largest social landlord in Bath, uses fixed asset software from Real Asset Management (RAM) to manage its component accounting as well as its non-housing assets throughout the business.
Curo has over 11,000 homes in Bath with a total of 90,000 assets and has been using RAM's asset and tracking software over the last five years to track its non-housing assets. The solution has been providing Curo with an efficient and effective asset register and barcoding system and it was its ease of use that also led the organisation to adopt it for the management of all its component accounting.
Previously, Curo managed its asset base on Excel spreadsheets which proved a time consuming and sometimes inefficient method of recording and updating data. It was the need for a better and more user-friendly solution that led Curo to initially implement the software and subsequently expand its application to include component accounting.
Ben Chalker, Finance Analyst at Curo, comments, "We have been using RAM for our non-housing assets for over five years now and we were very happy with the solution and the customer service from the team. It was this and the need for more visibility and compliance with SORP/IFRS that persuaded us to use RAM for our component accounting also."
"The system makes the data more visible and allows us to calculate asset depreciation and create reports as and when we need them. We have also been extremely pleased with the ease of use of the system and the time savings we have seen compared to our previous, manual way of working."
Curo originally adopted the software to manage depreciation and physical location tracking within a single integrated system. Now that Curo has successfully adopted component accounting, the association can rely on it for the management of all categories of fixed asset. In particular, the system provides a complete tracking history of non-property assets using RAM's barcoding/RFID solution.
Ben Chalker, concludes, "The system has allowed us to streamline our processes and effectively manage our component accounting with increased confidence and visibility. We are very happy with the service we have received from RAM over the years and continue to be happy with the product itself throughout the business."