Coast-to-Coast Canadian retailer relies on Real Asset Management (RAM) to get fixed assets into shape
Princess Auto sees Series4000 as a diamond in the rough
Established in 1942, Princess Auto owns and operates 31 retail stores across Canada. The company specializes in unique, quality hardware offered at competitive prices. Product offerings include hand tools, hydraulics, trailer parts and air compressors. In addition to the retail locations, Princess Auto also has a mail order service, a manufacturing division and is currently in the process of building two distribution centers.
Soon spreadsheets will be a thing of the past for Edward Chrobak, Corporate Accountant at Princess Auto. Tired of his cumbersome database, Edward went searching for an alternative solution. His initial requirement consisted of finding a system that could accurately manage both his fixed assets and non-capitalized items. "With new stores opening all of the time, we are constantly moving assets from location to location and it's imperative that we keep track of what goes where," Edward continued. "After the initial web demo, I realized that Asset4000 met my main requirement and then some. The whole Series4000 suite offers much, much more." Edward will use Document4000 to store invoices and purchase orders associated with his fixed assets. "It's important to have these documents at your fingertips in the event that they are needed during an audit," he explained. "We're also in the process of opening three new stores and renovating a fourth, so we'll use Project4000 to keep track of all costs and activities associated with those ventures," Edward commented. Finally, Edward will use Lease4000 to manage and control all of his finance, operational and non-capitalized leases.
In short, Asset4000 easily met Edward's initial requirement. "Once that was established, RAM was a given due to the opportunities I saw in the other modules. It's a unique package that no one else out there can deliver. I obviously considered cost as well; on top of having the complete Series4000 suite at hand, it's also the most economical system," Edward concluded. Implementation will take place at Princess Auto in June, at which time, Edward and three other colleagues will be trained on each of the four modules that they have initially chosen to implement. In the first instance, around 2,000 assets will be loaded onto the register. However, it's expected that this number will increase significantly as Princess Auto continues to grow.