CNIB connects with Real Asset Management (RAM)
CNIB has selected Asset4000 from RAM to manage and track its fixed assets spread across 10 provinces. CNIB is a nationwide, community-based, registered charity committed to public education, research and the vision health of all Canadians. CNIB provides the services and support necessary to enjoy a good quality of life while living with vision loss. Founded in 1918, CNIB reaches out to communities across the country, offering access to rehabilitation training, innovative consumer products and peer support programs, as well as alternative format newspapers and magazines, and Braille and talking books from its library. To find out more visit www.cnib.ca or call 1-800-563-2642.
CNIB turned to RAM after discovering that their previous fixed asset software solution was unable to meet their expectations. "Most specifically, we wanted to track the whereabouts and status of each and every asset, and we wanted a system that would enable us to run accurate end-of-month reports," said Ron Potter, Financial Enterprise Business Application Support for CNIB. "Strong reporting capabilities were a must and, as a result of being able to utilize a range of standard as well as customized reports, management decision making capability has become much more effective. We are now able to slice and dice data as required and produce a variety of reports including break-downs by division and manager."
Now with total control over its assets, CNIB is confident knowing that all of this information is stored in one central database. At any given point the finance department can check the status of their assets and gauge what needs to be added, deleted, maintained, or replaced. "The sharing of asset and inventory data from one central source has enabled CNIB to increase resource efficiency by eliminating the under utilization of assets," said Potter. "We can now, for example, confidently account for all computers and laptops across the organization and know when items are not in use, thus ensuring that unnecessary purchases are not made," added Potter.
"Another reason for selecting the Asset4000 solution was the flexibility provided for depreciating assets. Using spreadsheets to calculate depreciation on our assets was time consuming and running the relevant reports at month-end would take 3 days," said Potter. "With the use of Asset4000, we can now manage this process in one day. Time and cost savings have more than justified the purchase of the system."
Asset4000 will help manage a total of 1,100 assets. "We will run some 'what-if' scenarios at that point and produce some futuristic financial statements, enabling us to then realistically assess our growth plans for the organization," Potter concluded.