News May 11, 2020

MZA Associates Corporation to streamline its fixed asset accounting

MZA Associates Corporation (MZA) has purchased specialist software from MRI Software (MRI), to improve the fixed asset accounting and tracking of its $1.7 million asset base and to ensure greater asset transparency and accountability across the entire organization.

With more than 80 employees, MZA Associates Corporation is a world leader in the modeling, analysis, design, development, integration, and testing of High Energy Laser (HEL) and advanced optical systems. Headquartered in Albuquerque, New Mexico, and with offices in Dayton, Ohio, MZA provides research and development services to defense and aerospace customers in support of advanced beam control systems, atmospheric characterization, and optical systems engineering.

Steve Rehnberg, Chief Financial Officer at MZA Associates Corporation, was instrumental in the decision to update the organization’s fixed asset management with MRI’s solution.  Discussing his choice, he comments, “We evaluated a couple of other systems but were immediately impressed with the feature rich and intuitive nature of the MRI software. Ease of use was high on our agenda and the MRI solution surpassed all others in this area.”

MRI’s software will replace MZA’s legacy fixed asset system which no longer offers the on-premise deployment required. As MRI provides cloud/SaaS as well as on-premise installation options it was able to flexibly meet requirements.

Going forward, MZA will manage its 300+ assets consisting largely of IT servers and equipment, laptops, furniture, and vehicles on MRI’s fixed asset register. It will provide the organization with the ability to retrieve individual asset records tailored to specific preferences and record detailed information on each asset including purchase cost and date, department, cost center, depreciation rule, and grant value. Rehnberg comments, “The MRI system is very comprehensive and offers optimum flexibility with user-definable fields and description lines, as well as validated pick lists making data entry easy while minimizing errors.”

Of particular importance to MZA, is having the capability to calculate depreciation for any period or range of periods across multiple books as well as the option to have user defined methods. Rehnberg explains, “It was essential that the new system allowed us to continue calculating periodic depreciation and mortization and MRI’s software meets that requirement. The detailed level of reporting within the system will also accelerate our month and year end close down while improving statutory compliance.”

MRI’s system will also facilitate the tracking of government furnished equipment (GFE) and contractor acquired equipment (CAE), a key requirement in ensuring that the organization complies with all necessary regulatory requirements.

Rehnberg concludes, “We have been very impressed thus far with the level of service received from MRI and look forward to working with the software and reaping the benefits over the coming months.”

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