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Washington Post Selects Bloomberg BNA Fixed Assets Software for Fixed Asset and Depreciation Management
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Washington Post Selects Bloomberg BNA Fixed Assets Software for Fixed Asset and Depreciation Management

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Find out why the Washington Post chose fixed asset software from the Bloomberg BNA software segment to manage tax and depreciation of assets from 25 companies.

Find out why the Washington Post chose fixed asset software from the Bloomberg BNA software segment to manage tax and depreciation of assets from 25 companies.

Published in Economy & Finance
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  • 1. Challenge:To find a system that allows TheWashington Post Company (WPC)to easily manage tax and depreciationof assets from 25 companies, whileallowing each company to independentlyadd fixed assets and generate reports.Solution:BNA Fixed Assets WebResults:WPC saves manpower whileincreasing accuracy, reducing ITresource requirements, and improvingreporting capabilities.Since its founding in 1877 as a local newspaper, TheWashington Post Company has grown to includenewspaper and magazine publishing, televisionbroadcasting, cable television, electronic informationservices, and educational and test preparation services.Dean Rohrbaugh, WPC’s Director of Tax InformationServices, manages more than 100,000 fixed assetsthroughout the company.One Federal Tax Entity —25 Independent Companies“Since each company is independent, each had itsown software,” Dean said. However, the WPC files itsfederal taxes as a single entity, which required eachcompany to email or overnight its data to Dean, who thenhad to load it into his system to process. The standalonesoftware Dean was using to manage WPC’s fixed assets“simply wasn’t able to do the job.”In addition to the time-consuming process ofconsolidating data from 25 companies, WPCexperienced other difficulties with its fixed assetmanagement systems as well:• Making corrections resulted in numerous hours spentrecalculating figures manually• The lack of automated error-checking and calculationsmeant that errors could go undetected — potentiallycosting WPC millions of dollars• The complexity of the systems limited the usage of thesoftware to experts• To generate reports, WPC staff manually exported datafrom Excel spreadsheets — a time-consuming processBloomberg BNA’s Web Solution isthe AnswerWhen Bloomberg BNA introduced BNA Fixed Assets™ Web,Dean took notice. “I looked at other companies, but no oneelse had web-hosting capabilities like Bloomberg BNA.”Now, after replacing the previous software at headquartersand the 25 independent companies with BNA FixedAssets Web, WPC staff can instantly access all asset datain real-time over the Internet. WPC company controllers no--------------------------------------------------------------------“If you want a system that takes theguesswork out of the job, BNA FixedAssets Web is the best way to go.”Dean RohrbaughDirector of Tax Information Services------------------------------------------------------------------------>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>Customer Success StoryFixed Asset Problems Become Yesterday’s News forThe Washington Post CompanyThe Washington Post Company can now easily manage assetsacross 25 independent companies.
  • 2. 1801 South Bell Street, Arlington, VA 22202© 2012 BNA Software, a division of Tax Management Inc. All rights reserved.>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>Customer Success Story1012-JO9311 56-8269For more information call 800.424.2938 (select option 3), contact your local Bloomberg BNA Representative, orvisit www.bnasoftware.com::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::longer need to burn CDs or use overnight courier services,saving them time and money. And because BloombergBNA manages the system, WPC companies have beenable to scale back on IT staffing needs.Whereas WPC previously had to send updates to 25different companies, BNA Fixed Assets Web, hostedby Bloomberg BNA, removed the need to deal withsoftware. With a web-hosted solution, federal and stateregulations are always current, daily and weekly backupsare automatic, and recovery is available at all times.BNA Fixed Assets Web Saves Timeand Ensures AccuracyPrior to BNA Fixed Assets Web, any undetected errorscould have cost WPC millions of dollars and numerous workhours to correct. Juana Trevino, Controller of WPC company,Greater Washington Publishing, Inc., said that when shemade changes in her old software system she had torecalculate each month forward from the date of any changesmade. According to Juana, “The best thing about BNA FixedAssets Web is that it automatically calculates correctionsgoing forward. It’s a huge time saver.”Since BNA Fixed Assets Web allows asset entry withminimal data and offers extensive depreciation methodchoices, “You can be a novice and still come up with thecorrect rules at the end of the day. It’s much more user-friendly than the old software, so training is quick and easy.”Juana used to be the only person who could navigate the oldsystem to enter new assets, but now one of her employeeshandles this task, giving Juana time for other issues andproviding backup for a critical role.Dean Rohrbaugh agrees that Bloomberg BNA makes iteasier to train people on BNA Fixed Assets Web and easierto check data for accuracy. He also adds that BNA FixedAssets Web has helped with standardization and consistencyof depreciation policies across the entire organization.Exceptional SupportDean says Bloomberg BNA beat the timelines establishedfor getting WPC up and running. “Plus we receivedexceptional support and training.” With two full daysof training and unlimited (toll-free) technical support,Bloomberg BNA ensures customers get fast answers toany questions that may arise.Flexible ReportingBoth Dean Rohrbaugh and Juana Trevino have beenpleased with the many standard and custom reportingcapabilities. Juana said it’s yet another way BNA FixedAssets Web saves her staff time. With the previoussoftware, her staff had to manually enter data in Excelto generate reports, but now with BNA Fixed AssetsWeb, most of the reports are built right in. Being ableto import data directly into Excel provides WPC withadditional flexibility.The Sky’s the LimitIn BNA Fixed Assets Web, Dean found a system thatenables him to tie in assets from 25 independentcompanies, allowing him to spend his time managing taxinformation for WPC rather than collecting it. And sincethere is no limit to the number of assets the system canhandle, Dean won’t have to worry about a growing WPCoutgrowing BNA Fixed Assets Web.“If you want a system that takes the guesswork out of thejob, BNA Fixed Assets Web from Bloomberg BNA is thebest way to go,” reports Dean Rohrbaugh.>>>>>>>>>>>>>>>>>>>>>>>>>The Washington Post Company• Media and education company• Principal operations include: newspaper and magazinepublishing, television broadcasting, cable televisionsystems, electronic information services, and educationaland career services• Revenue: $4.2 billion• Assets: 100,000+• Employees: 18,000+• Historical value of assets: $2.1 billion• Accumulated depreciation: $1.2 billion