Professional services firm and a value-added reseller for both Sage ERP and Microsoft, AccTech Systems, has successfully implemented a fixed asset management solution for the Blue Bulls Company, the organisation responsible for the management of professional rugby at the Blue Bulls Rugby Union.
The Blue Bulls Company is the business arm of the celebrated Bulls Rugby Union and manages all aspects of professional rugby at the union. The company is also responsible for managing the union's home field of Loftus Versfeld; certain aspects of its amateur rugby; and other management actions and activities on behalf of the Union.
Heino Noeth, Financial Manager of the Blue Bulls Company, says its previous fixed assets register was spreadsheet-based, and as result, it was very time-consuming to manage and challenging to maintain. “We approached AccTech Systems to assist in streamlining all processes around our assets,” says Noeth.
Andre Cloete, Divisional Director of Enterprise Asset Management (EAM) at AccTech Systems, says the biggest challenge AccTech faced was to verify all the financial assets owned by the company. “We started the process by bar coding all their assets and then comparing the current assets information with the information gathered during the bar coding process. We also installed Asset Manager, a software solution by Assetware Technology, which now allows the Blue Bulls Company to maintain the assets' financials, related history and depreciation values of each asset electronically,” says Cloete.
“Due to the sophistication of the asset and bar coding system, each asset is individually and uniquely identified. We can now easily identify any assets that are missing or stolen by doing a verification of the bar codes,” says Noeth. “We are also able to process current, future or historic financial transactions on each individual asset. We also maintain that asset's full physical location history in the system. Reporting on the asset's status becomes a lot easier with the new software, as custom and standard reports are now available to us.”
Tertius Zitzke, CEO of AccTech Systems, says companies with effective fixed asset management systems and processes in place find they can cut costs, meet statutory requirements and - more importantly - comply with corporate governance legislation and international accounting standards. “The EAM system we provided to the Blue Bulls Company is fully IFRS compliant and the Bulls now meet any statutory requirement regarding their assets,” says Zitzke.
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