Textainer Selects RAM's Fixed Asset Software to Meet Corporate Governance Requirements

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Apr 26, 2017, 01:00 ET

ORPINGTON, ENGLAND, April 26, 2017 /PRNewswire/ --

Textainer, a leader in the intermodal container leasing industry, has selected software from Real Asset Management (RAM) to manage its fixed assets in accordance with US GAAP and IFRS regulations.

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Textainer decided to replace an older system with RAM's software to accommodate growth and to comply with processes that had changed over time at the company. Gregory Coan, Chief Information Officer at Textainer comments, "Our previous solution was written in-house 13 years ago. While it has served us well, our fleet size has grown dramatically and the dynamics of our business have evolved. This led us to the purchase of a new, specialist tool that can be tailored to our requirements and that delivers crucial functionality when it comes to fixed asset management."

The solution provides a platform to manage the fundamentals of asset accounting whilst also helping towards compliance with all financial directives. It enables organisations to meet IFRS and US GAAP regulations, including the upcoming IFRS 16 lease accounting rules that were agreed between the IASB and FASB and that will become effective in 2019.

"Textainer was familiar with RAM as it previously provided software to Amficon, a company we acquired in 2009," Coan continued. "Our work with RAM during the migration of that fleet into our systems contributed to the confidence we had in engaging them for this requirement."

Headquartered in Bermuda, Textainer operates via a network of 14 offices and 400 depots worldwide. With a fleet of over 3.2 million TEU, it supplies more than 400 customers including some of the world's largest shipping lines.

Real Asset Management (RAM) is a leading provider of fixed asset management and intermodal software & services. Over the last 30 years, its products have been implemented by more than 3,000 organisations in over 70 countries.

The company has developed a powerful range of software modules around a central data repository that enables organisations of any size to manage every aspect of the asset lifecycle. Its Series4000 solution offers fixed asset accounting, capital project control, lease accounting, asset budgeting, asset tracking (utilising barcode/RFID/NFC technology) and computerised maintenance management.

In the intermodal transport sector, RAM Intermodal Software offers specialist software, providing sales, marketing, operations and finance teams with a complete set of tools for managing the processes involved in international tank operating and container leasing.

For further information, please contact:
Nicola Byers
Real Asset Management
Tel: +44-(0)-1689-892153
Email: [email protected]