Software Streamlines GASB 34 Compliance for Public Sector Entities

Government4000 Offers Comprehensive Fixed Asset Management Suite

Real Asset Management International (RAMI) has announced the addition of Government4000, a suite of fixed asset management tools designed specifically for government agencies and organizations. Tailored to the specific workflow and regulatory needs of these entities, Government4000 includes modules for asset accounting, inventory tracking, lessee accounting, depreciation forecasting, capital project control, document management, and maintenance and helpdesk functions. RAMI (www.realassetmgt.com) is a leading developer of fixed asset management solutions, with more than 3,000 implementations worldwide.

“Effective asset management is integral to reliable financial governance and can also save money and streamline many aspects of an organization’s workflow and reporting processes,” according to Marcus Scholes, V.P. of Operations for Real Asset Management International. “But for organizations using spreadsheets to track and manage their assets, the process has become more of an art form as opposed to a science, requiring more time from finance staff.”

As an automated asset management system, the comprehensive Government4000 product suite provides organizations with a unified asset register that maintains all information from an asset’s value to its service condition. Security features allow various types of users to access only the information required to do their job. This consolidated register ensures information accuracy, while enabling advanced forecasting and budgeting capabilities.

With the adoption of GASB 34 requirements in 1999, government entities have been under increasing pressure to provide greater information on the condition, location and value of their assets. Government4000 was specifically designed to help state, local and federal entities meet these compliance requirements, while also providing additional features to strengthen security and provide greater managerial supervision. The system also provides seamless links to the general ledger modules in leading accounting applications such as Oracle, Sage, JD Edwards, Microsoft Dynamics GP, Accpac, Coda and others.

Key features within the Government4000 suite include the ability to monitor all changes made to assets throughout their entire life cycle, tracking asset locations and conditions, accessing a comprehensive audit trail, customizing interfaces and data collection fields, and extensive scenario-based forecasting tools. In addition, maintenance management functions simplify the tracking of preventative or unplanned maintenance tasks and work order generation. Inventory functions enable the setting of reorder levels, offer user-defined analysis functions, and support hand-receipt functionality, a common requirement for government clients. Government4000 supports an unlimited number of users and offers remote access for authorized personnel.

“The calls for greater financial responsibility in the public sector will continue to result in increased compliance and reporting compliance issues,” Scholes said. “Automating an agency’s fixed asset management system is a key aspect of strengthening its fiscal control and will also help the organization run more efficiently.”

About Real Asset Management International
Real Asset Management International is a leading provider of fixed asset management solutions with more than 3,000 implementations across 70 countries. RAMI’s solutions enable organizations to determine and implement optimal accounting strategies, maintain compliance with federal and state taxation and perform asset budgeting and forecasting. Specialized modules include lessee asset accounting, capital project control, document management, inventory control, asset tracking, helpdesk support and maintenance management. www.realassetmgt.com

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