Real Asset Management (RAM) and PIMSS Data Systems, asset management software providers and specialists in the housing sector, have joined forces to provide customers with a detailed, SoRP compliant, component level financial asset management and maintenance management system.
There is an urgent need for social housing providers to be able to access detailed, reliable component information in time to meet the SoRP compliance deadline in April 2012.
This partnership meets this need by delivering a comprehensive combination of housing asset component detail with a proven, compliant component accounting system.
Developing software that addresses the legislative and business needs of social housing providers takes considerable investment and detailed specialist knowledge. By bringing together two best of breed systems, customers will benefit from the strengths and resources of each organisation.
Social housing finance departments and housing asset management teams both need information at asset component level, but for different operational reasons and at different levels of detail. Finance is concerned with depreciating key component costs, generating charge transactions for the general ledger and statutory reporting. The asset management team needs property component detail to make decisions on priorities for investment as well as meeting regulatory requirements.
Karen Conneely, Group Commercial Manager at RAM explains, “This is an important and timely collaboration. The need to provide SoRP compliant component accounting means that finance and housing departments will need to share property data to a level of detail that hasn’t previously been necessary. Bringing together two systems that are leaders in their respective fields provides an immediate and effective route to compliance. It is a sound investment for the future because both our companies have demonstrated their commitment to ongoing development to meet ever changing requirements.