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Enterprise Bank benefits from replacing ERP system’s fixed asset module with Series4000

Dec 16 2016

Since 1988, Enterprise Bank has served Massachusetts residents by providing a full-service range of financial resources for growing businesses, professionals, and non-profits. Over the past twenty-seven years, Enterprise Bank expanded from its original location in Lowell to include branches across the eastern and central parts of the state; with this expansion came a growing fixed asset register that was becoming increasingly cumbersome to manage.

The finance group at Enterprise Bank was coming up against inefficiencies that were a direct result of its existing fixed asset system. The team had been using the fixed assets module of a well-known ERP system but the software was not robust enough to handle its particular needs. According to Tammy Mansur who manages the bank’s fixed assets, “Our existing system was not user friendly and we needed a system that could improve efficiency in reporting and also had Project in Progress capabilities.”

The team at Enterprise determined that it was important for the new fixed asset system to have the ability to generate reports at a very granular level, and Asset4000’s standard and user-defined reports could deliver exactly what it needed. Enterprise Bank implemented Real Asset Management’s (RAM) Series4000 to manage its fixed assets which include over ten buildings and branches across Massachusetts, as well as its furniture, fixtures, equipment, and computer hardware and software.

Enterprise Bank has been happy with the software and the support, and has benefited from accurate reporting and a reduction in redundant busywork. According to Mansur, “Series4000 has helped us minimize manual tasks. The software is very user friendly and it’s easy to create reports. We can retrieve accurate reports from the system and can customize them to suit our needs. It’s just an all around great system for capturing the fixed assets and the RAM’s helpdesk really knows the product.”