100 Housing Associations choose Real Asset Management to become SORP compliant
Real Asset Management (RAM), a specialist provider of component accounting software to the Housing Sector, has partnered with its 100th Housing Association. RAM's component accounting software has been designed to smoothly integrate with the latest finance and housing management systems, providing fast and accurate analysis that is compliant with the impending SORP 2010 guidelines.
With the deadline for SORP compliance set for April 2012, Housing Associations have been seeking out specialist guidance and support to manage their multi-million pound asset registers. Such is RAM's depth of knowledge of the IFRS and SORP requirements that almost half of the 100 Housing Associations have contracted with RAM in 2011 alone, and of these more than 80 are included in the top 400 Housing Associations in the UK according to the Housing Associations Financial Yearbook 2011.
Commenting on reaching this milestone, Karen Conneely, Marketing Manager at RAM, said, "This is a great achievement for everyone employed at RAM and we are proud to be working with all our Housing Association customers. We believe the attraction of the software lies in its flexibility to integrate with our customers' finance and housing management systems and the expertise our support staff and consultants can provide to our client base."
Commenting on the demands of the SORP requirements, Conneely continues, "Changes in the SORP guidelines have undoubtedly had a big impact upon Housing Associations. Component accounting requires a level of detail that is beyond the capabilities of both general ledger and housing asset management systems. RAM's software is a proven solution that will ensure compliance by the deadline, whatever the volume of assets."
Conneely concludes, "RAM's specialist Housing Association Team has a great deal of knowledge and experience to contribute to projects, saving clients a considerable amount of time and therefore cost. Our consultants utilise both a robust asset accounting solution and a component accounting-specific data service that can provide a clear and justifiable Component Element matrix for senior management and external auditor approval."