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LOS ANGELES, CALIFORNIA -- (Marketwired) -- 06/17/14 -- AssetWorks Inc., a leading provider of asset management software solutions, today announced that the University of California Los Angeles (UCLA) has signed a contract for a fixed asset management solution from AssetWorks. The contract calls for a customized solution to meet the unique needs of the University and marks the second UC system campus to begin managing capital assets with Asset Management Software (AMS) from AssetWorks.

When AMS is launched at UCLA, the University can leverage the system to maintain proper stewardship of assets and to track and manage equipment by department, location, or fund. The software solution, which is set to replace the University's current equipment management system, features multiple methods of depreciation and a custom reporting tool designed to help UCLA comply with the audit requirements of OMB, GAAP and other relevant legislation.

As one of the nation's top research universities, the University of California Los Angeles manages tens of thousands of assets from acquisition through disposal. The UC Campus serves over 40,000 students annually and offers over 100 undergraduate majors.

About AssetWorks Inc.

AssetWorks Inc. delivers industry-leading business solutions that help asset- and infrastructure-intensive organizations control capital and operating expenditures, reduce operational complexity, and manage regulatory and policy-driven risk. Leveraging a comprehensive portfolio of software and consulting solutions, we help organizations work more efficiently by improving access to shared asset data, promoting greater transparency across the organization, improving service delivery, maximizing asset availability and uptime and reducing total cost of ownership. Using the latest cloud and mobile computing technologies, our asset management solutions and domain expertise help organizations eliminate waste, redundancy, and inefficiency. For more information, visit: www.assetworks.com.