Industry leading non-profit organization sees benefit of the Asset4000 fixed asset management solution from RAM.
Morgan Memorial Goodwill Industries (Goodwill) has selected Asset4000 from RAM to manage and track its fixed assets, which are spread across the state of Massachusetts.
Goodwill is a non-profit organization with a century-long legacy of helping people transform their lives through work. Headquartered in Boston, Goodwill is a leading provider of job training and career services programs that serve individuals who face barriers to self-sufficiency, including physical and developmental disabilities, homelessness, low educational attainment, limited job skills and welfare dependency. The organization also offers academic, recreational, and career-focused programs for young people with great potential but limited opportunities. Goodwill pioneered the innovative concept of operating retail stores in order to provide job training, paid work opportunities and low-cost quality goods to the community.
Prior to implementing RAM's software, Goodwill decided that its previous fixed asset software solution, Excel™ spreadsheets, was unable to meet its requirements. With incomplete reporting capabilities, no audit trail and the limited functionality of Excel™, the organization's fixed asset data was prone to error. In order to maintain accuracy and accountability across its 10 locations in Massachusetts, Goodwill concluded that it was time to gain better control over its fixed assets.
"Most specifically, we wanted to track the whereabouts and status of each and every asset, as well as ensuring greater visibility on those created from multiple invoices," said Patrick Duff, VP of Finance and CFO.
Now, with a complete record of all assets, Goodwill is confident in the knowledge that all information is stored in one central database. At any time, the finance department or any other users of the system are able to check the status of their assets and make informed decisions about both maintenance and replacement.
"We now benefit from centralized and easily accessible information. For example, if we want to look up a vendor or the details of a fixed asset, we have everything electronically attached to the actual file. We no longer have to sift through physical copies of invoices," said Duff.
An additional benefit of moving to the RAM fixed asset software was that Goodwill was able to clean up obsolete data while transferring to the new system. "We were able to eliminate the records of assets that were either no longer there or no longer being used," said Duff.
After reviewing four other systems, RAM was chosen for reasons important to Goodwill. One of the drawing factors to the RAM software was that the size and capability of the system met Goodwill's needs at the time.
Now, having utilized Asset4000, Morgan Memorial Goodwill Industries is experiencing great benefits. Pulling up reports is faster and confidence has increased in calculating depreciation each month.
With a smooth move to Asset4000 and a happy transition from its previous software, Goodwill is increasing resource efficiency by streamlining the accounting process while making more complete and accurate asset data readily available from one central source.