Real Asset Management's (RAM) Data Conversion Service is a fully managed process that involves converting existing asset data via a common file format (e.g. xls, txt or csv) to create an asset register with RAM's system.
Within the timescales agreed upon for the implementation project plan, a RAM project manager will first work with a client to complete a data conversion document. This is a detailed record that clearly defines the structure and content of the data that is to be supplied, together with exact conversion rules. When RAM and the client are satisfied with this information, it is signed off by both to confirm the client's instructions and RAM's complete understanding of them.
- Gross Book Values (GBV) and Net Book Values (NBV) at a specific point in time.
- Exact number of items to be converted.
- The number of accounting books to be converted.
Quality data is critical and RAM will consult with the client by telephone and email to correct any minor errors, wherever possible. Any major errors or omissions (e.g. capitalization dates, values, incorrect balances, etc.) that prevent the conversion from being completed will require the project to be suspended until the client supplies the corrected data. In such instances, the RAM Project Manager will advise the client of any additional days required for the data conversion and will agree on a revised project plan.
A standard data conversion will typically take ten working days to complete. Conversions that involve complex rules or an unusually large number of files or records can take longer, and this will be reflected in the project plan.
RAM specializes in multiple accounting and tax books. The RAM Project Manager will provide guidance on defining the essential (one-on-one) relationship between each asset and its associated accounting and tax information; this will be included in the data conversion document.
Should the client decide to incorporate additional books after the data conversion has started, the conversion will be put on hold until a revised time estimate and new versions of both the project plan and the data-conversion document have been agreed.
A valuable feature of RAM's comprehensive service is to include the direct conversion of any historical data (e.g. previous years' depreciation charges) that can be supplied by the client. The potentially vast number of variables that may have contributed to such calculated values make it inadvisable to attempt replication and would usually add significantly to the days required.
Please contact RAM to request additional information on the Managed Data Conversion Service: (416) 304-393 or email firstname.lastname@example.org.