ANEURIN BEVAN NHS HEALTH BOARD ENLISTS ASSET4000 FROM REAL ASSET MANAGEMENT TO TRACK AND MANAGE ITS £500 MILLION ASSET BASE
- Aneurin Bevan Health Board sees a reduction in lengthy manual processes and saves considerable time by using the system’s reporting features -
12th August 2011: Aneurin Bevan, an NHS Health Board, has selected Asset4000 from Real Asset Management (RAM) to deliver a comprehensive, centralised and robust asset register for its £500 million-strong asset base. The latest move is set to streamline the Board’s day to day running along with eliminating the extensive accounting process that is currently associated with annual reporting.
Aneurin Bevan NHS Health Board, headed up in Pontypool, provides complete NHS care to those residing in the county of Gwent and neighbouring communities. The Board was formed in 2009 following the merger of various Local Health Boards and Trusts and since then has cared for over 710,000 patients. Primarily focusing on patient care and with an aim of ‘Working with you for a healthier community’, the Board endeavours to provide the best possible service across the breadth of the county.
This latest acquisition strengthens RAM’s reputable position within the Welsh National Health Service, and this was a contributory reason for Aneurin Bevan to invest in its software. Rosie Cavill, Capital Accountant at the Board, comments, “It was imperative that we invested in a solution that understood the changing landscape of accounting procedures. Real Asset Management has a prominent presence among other Welsh NHS Boards; this offered us cross training familiarity along with the safety net of knowing they were capable of delivering the service to a high standard.”
Cavill continues “We required a system that could streamline our accounting processes. Our old system became rather outdated, proving problematic when regulations changed. Therefore, during the tender process it was vital that we found a solution that was compatible with the accounting procedures and almost ran itself. The system from RAM offered us all of this and dealing with predominantly public sector organisations, we were reassured by RAM’s easy-to-use solution and impressive industry knowledge.”
Another key benefit provided by Asset4000 is its ability to interface with the Trust’s finance system, Oracle Financials, providing a seamless solution and removing the need to re-key information, thus ensuring accuracy and saving both time and money.
With such a significant and valuable asset base, it is vital for the finance team at Aneurin Bevan to track and verify each individual asset regularly. As Cavill comments, “Given the extensive area we cover, we inevitably hold a large number of assets on our register ranging from land and buildings right through to acute medical equipment. A register of this size requires a large staff base to monitor and update it regularly. The key benefit of the RAM solution is its ability to control different access levels. We hope to eventually roll the system out across our various divisions and being able to monitor individual permission levels will certainly aid security.”
Asset4000, part of RAM’s Series4000 offering, is designed to assist with legislative compliance including IFRS, PAS 55, and audit best practice for organisations across the public sector. Features include the generation of revaluation reserve entries, calculation of depreciation, maintenance of audit trail records on historic impairment and component valuations and accounting.
Cavill concludes, “We expect the time savings with Asset4000 to shorten the entire accounting process. This will certainly free up staff hours, allowing our team to concentrate on what we pride ourselves most on which is delivering the best possible service to those considered most pivotal to our practice – our patients.”