Textainer, a leader in the intermodal container leasing industry, has selected software from Real Asset Management (RAM) to manage its fixed assets in accordance with US GAAP and IFRS regulations.
Textainer decided to replace an older system with RAM’s software to accommodate growth and to comply with processes that had changed over time at the company. Gregory Coan, Chief Information Officer at Textainer comments, “Our previous solution was written in-house 13 years ago. While it has served us well, our fleet size has grown dramatically and the dynamics of our business have evolved. This led us to the purchase of a new, specialist tool that can be tailored to our requirements and that delivers crucial functionality when it comes to fixed asset management.”
Our work with RAM during the migration of that fleet into our systems contributed to the confidence we had in engaging them for this requirement
The solution provides a platform to manage the fundamentals of asset accounting whilst also helping towards compliance with all financial directives. It enables organisations to meet IFRS and US GAAP regulations, including the upcoming IFRS 16 lease accounting rules that were agreed between the IASB and FASB and that will become effective in 2019.
“Textainer was familiar with RAM as it previously provided software to Amficon, a company we acquired in 2009,” Coan continued. “Our work with RAM during the migration of that fleet into our systems contributed to the confidence we had in engaging them for this requirement.”
Headquartered in Bermuda, Textainer operates via a network of 14 offices and 400 depots worldwide. With a fleet of over 3.2 million TEU, it supplies more than 400 customers including some of the world’s largest shipping lines.