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Papua New Guinean develops fixed assets software

KUMULSOFT Fixed Assets Management is an integrated system software designed and developed especially for the Government to manage its fixed assets, chief executive officer Marsh Narewec (pictured) says.
Kumulsoft Ltd is a 100 per cent PNG-owned enterprise SME providing software and database solutions called the FAM.
The software is currently used by PNG Customs, East New Britain government, Western Highlands Health Authority and University of Goroka.
“All Government departments, institutions, agencies, districts development authorities and provincial governments need to use this software to prevent fraud, abuse, misuse and theft of Government properties,” Narewec said.
“This software will also directly address audit queries in Government departments and agencies and also improve decision-making in re-current expenditure planning.”
Kumulsoft Fixed Assets is three systems integrated together. These systems can be sold as one system or separately.
“Our operations in prior years were so challenging so we have made some strategic changes in our business plan and are now focused in developing our own software products,” he said.
“We have seen growth in business since then and are operating in a well setup office at Steamships Properties, Hohola, and employs four fulltime staff.
“We are planning to recruit more staff as we secure more clients.”
Fixed assets management is an accounting process that seeks to track fixed assets for the purposes of financial accounting, preventive maintenance, and theft deterrence.

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