Real Asset Management helps Cohen Group manage its property

Real Asset Management helps Cohen Group manage its property


The Cohen Group has selected Real Asset Management (RAM), to deliver its integrated asset accounting and facilities maintenance solution, to centralise all asset management processes and improve efficiency across the Group. The system will handle business critical property data, maintenance management, depreciation, Tax reporting and MRI integration.

The Cohen Group is one of South Australia's largest privately owned and most respected property management, investment and development companies. Prior to working with RAM, the Group was using aspects of its existing software packages, some spreadsheets and other supporting documents to manage its asset base. Whilst meeting certain requirements, the process was unable to provide transparency on a single platform.

To integrate RAM’s facilities maintenance (FM) solution with The Cohen Group’s property management system, RAM is working with MRI Software as a member of MRI’s Partner Connect Programme.

 

Finding a provider with the expertise to integrate a fixed asset accounting and facilities management solution with Australian tax capabilities into our existing MRI system was extremely important for us.

 
 

RAM’s FM solution offers The Cohen Group a ‘single version of the truth’, by having one system within the organisation that provides a complete view of maintenance history, asset movements, scheduled works and audit reporting. In addition, the software will support it in dealing with all planned and reactive property maintenance reporting within the Group.

The company has also adopted RAM’s mobile maintenance solution to integrate contractor and mobile work order management within the new software solution. It has been rolled out to Cohen’s contracting companies so that Work Orders assigned to these third parties are received instantly, enabling system updates to be made as the work is being carried out and contractor completion comments to be received automatically when jobs are completed. The solution speeds up the communication of new work orders to contractors, removes the need to follow up on completed tasks and can be accessed from anywhere with Wi-Fi or mobile data services, even whilst at the job.

RAM’s fixed asset management module automatically generates depreciation calculations, Australian tax, capital finance reports and monthly journals to the MRI finance system from the central database. Asset Acquisitions and Disposal requests follow an automated approval process and any data changes made by the maintenance teams are updated in real-time. The fully integrated package ensures that these different teams will always operate from the same core data set from now on.

Adam Lockwood, Chief Financial Officer at The Cohen Group comments: “Finding a provider with the expertise to integrate a fixed asset accounting and facilities management solution with Australian tax capabilities into our existing MRI system was extremely important for us. We also wanted to have a more sophisticated platform that would facilitate better cross functional collaboration to ensure assets are maintained at their optimum levels.

“We chose RAM as we found it to have the best user interface and all of the features we need. We wanted solutions that were easy to deliver and integrate and RAM has been able to meet this requirement. We look forward to seeing the benefits of having all postings, calculations and asset management processes centralised into one system,” concludes Adam.