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Top architectural firm replaces existing fixed asset system with Asset4000

Dec 11 2017

As one of the largest integrated design firms in California and Texas, LPA provides architecture, planning, landscape architecture, interior design, engineering, and graphic/signage services from early program development to project closeout. The finance team at LPA had been using a market-leading fixed asset accounting system from a well-known ERP supplier but the system’s inadequacies could not be ignored. According to LPA’s Controller, William Cline, “[The system] wasn't being used for tax depreciation calculations as our tax accountants didn't trust it! Reporting and query functions were primitive. As a growing firm, we wanted a fully-functioning system to scale with us.”

 

We look forward to much better reporting and query capabilities

 
 


Cline, who spearheaded the search for a new system, assembled a list of requirements that included: robust reporting capabilities; flexibility and customizable user-defined fields; a strong audit trail; ability to export data to Excel and other programs; and updated tax information. “Additionally,” continued Cline, “The system needed to handle transfers better than our existing system in which we had to create a second asset record in order to complete transfers, making it difficult to track and reconcile the history of asset movements.”

After evaluating several fixed asset systems, the team compiled a mounting list of negatives against Real Asset Management’s competitors: insufficient improvements/updates to the system; non-responsive and/or poor customer service; limited search functionality; limitations on splits; "pizza model" where add-ons incur additional fees; cost prohibitive; offshore support; and poor reporting. After careful evaluation, the team moved ahead with Real Asset Management’s Asset4000 fixed asset accounting software. According to Cline, “We look forward to much better reporting and query capabilities and the ability to configure the software to accommodate our specific depreciation and tax requirements, eliminating the need for tax accountants to do it.”