FINANCE MANAGEMENT

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ORMED MIS™

Finance Management for Healthcare

Asset Management -- Manager

Ormed Asset Management provides effective and efficient tools to automate fixed asset management through the complete asset life cycle including acquisition, depreciation, and disposal.

Comprehensive program for depreciable and non-depreciable assets

Use the Asset Management module for minor equipment (equipment expensed in the year of purchase) and capital equipment. Information about an asset includes the vendor, purchase order, cost, physical location, associated assets, budget, project, and useful life of minor equipment assets. Additionally for depreciable assets, information includes cost and depreciation start date to automatically calculate depreciation monthly. The system automatically generates a fixed asset continuity schedule.

Powerful integration with MM

Asset Management is integrated with Ormed Materials Management . Receipt of goods designated as capital creates the asset in the Asset Management subledger to facilitate subledger completeness and accuracy. Information from the purchase order automatically flows to the capital asset system and is then used to determine the useful life of the asset and to calculate depreciation.

Flexible setup

Depreciation can be recorded centrally or allocated to the department where the asset is located. Historic assets can be entered over multiple periods prior to initialization of the system. To meet specific reporting needs, assets can be grouped, subgrouped, and associated with a budget or a project.

Comprehensive reports

A variety of easy-to-use pre-built reports are available to provide asset information by site, location, cost center, or asset group.

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Product Data Sheets

We selected Ormed as many of the former organizations utilized the software and Ormed provided the support to grow the system to meet the new larger entity.

Barry Cheal,
CFO and Vice President Corporate Services