Why asset management is becoming increasingly important for MATs
Across the nation, the formation of multi-academy trusts has seen structures and legislation across the education sector change, and asset management is taking centre stage. Whilst it’s always been important for assets to be tracked, the evolution of MATs and operations spanning across as many as 30+ schools mean a closer eye must be kept on assets more than ever. Budgets are tight and funding is low, so making cost-savings are very important, and it all starts with how you track your trust’s assets.
When most people think of the type of assets schools track, tangible assets such as equipment for IT, art, sciences, and sports, come to mind. These items are often the result of large investments made by schools to provide great opportunities to pupils and improve educational outcomes, so it is imperative that these items are tracked and managed. Not only does this ensure that investments are not wasted by lost or broken equipment, it also means the most can be gained from the investment with effective tracking of maintenance of the assets and issues are raised before it’s too late for things to be salvaged!
Whilst asset management in schools is often linked to these traditional tangible assets, it actually goes far beyond this. In addition to every-day assets, schools must deal with the tracking of intangible assets such as the management of contracts, loaning of equipment to students and teachers, and statutory compliance of facilities. What’s more, testing of equipment and maintenance of the building itself is a vital element of asset management within schools. With this extensive list of components requiring tracking and management, MATs must look at the most effective way to keep on top of these assets to ensure efficiency is maximised.
Your MAT needs PS Assets
Being aware of the necessities for the smooth running of academies and MATs, PS Financials’ asset management software, PS Assets, was built from the ground up with these institutions in mind.
The system harnesses a host of features to not only make schools’ lives easier, but also enables MATs to have a full view, full control and full reporting for all of the academies through its unique global MAT system.
In addition to the functionality above, the system utilises PS Financials’ latest Cloud technology, PS Cloud, to host the software, meaning all data is accessible from any location, providing users have a connection to the internet. PS Assets executes reporting requirements in an effective manner by manipulating data at the touch of a button and presents it in a format which is easily digestible by all staff levels. This graphical reporting at MAT level ensures all academies within a trust are managing and maintaining their assets, facilities and statutory obligations on time and in the most efficient manner.
Warren Baker, Capital Programme Manager for United Learning Trust, customer of PS Assets, has hailed the system as revolutionary in the way United Learning Trust manages its assets. Warren commented, “We use PS Assets across all of the sites in United Learning to manage and track important information about our site, facilities and estate assets. The reporting system sends notifications to keep our facilities teams in the loop with what needs testing and replacing and when, enabling us to continually keep on top of our compliancy and assets.”
To learn more about how your MAT can benefit from PS Assets and how your efficiency can be improved, visit www.psfinancials.com/solutions/ps-assets