Museum Of London Shows It’s Not Stuck In The Past When It Comes To Managing Its Asset Register
Museum of London moves from spreadsheet model to a specialist asset management solution from Real Asset Management
The Museum of London cares for more than two million objects in its collections and attracts over 400,000 visitors per year. The Museum of London Docklands opened in 2003 and tells the story of London’s connections across the globe exploring the history of London’s river, port and people.
The Museum’s finance department previously recorded its assets using a spreadsheet-
Paul Saville, Head of Finance, at the Museum of London, comments, “The implementation of RAM’s Asset4000 system provides us with a much more sophisticated, user-friendly and functionally rich asset management platform. Our previous spreadsheet-
Paul Saville continues, “Another benefit of RAM’s Asset4000 system is that we can accurately keep track of our asset values across each department. We can now contact individual departments and employees to enquire about the asset, confirming that it is still in good order, it’s still in use and hasn’t been disposed of – which makes everyone in the organisation more accountable. We have really benefitted from having this greater level of accountability and an auditable trail, which we didn’t previously have using the spreadsheet system.”
Asset4000, part of RAM's Series4000 offering, is designed to assist with legislative compliance including IFRS, SORP, and audit best practice for organisations across the public and private sectors, with features including the calculation of multi-book depreciation, revaluation adjustments at component level, automatic generation of monthly transaction journals, and the comprehensive maintenance of audit trail records.
For more information about the museum of London visit www.museumoflondon.org.uk