Track asset performance throughout the capital asset lifecycle
Utilities today face increased infrastructure costs, decreased energy demand and strict regulatory scrutiny. As a result, they now have more projects to manage and need a better way to track and manage costs across all departments.
The PowerPlan platform captures relevant asset information from across the utility and stores it where it’s available in real time to all stakeholders. Accounting, tax, regulatory, operations and finance all have the specific information they need at each phase of the asset lifecycle, allowing them to make better strategic decisions and ultimately improve financial performance.
Improve Regulatory Strategy
Finding ways to improve regulatory strategy is critical, especially the rate case process. PowerPlan can reduce regulatory lag by streamlining data capture and allowing companies to run complex scenarios that analyze multiple options. PowerPlan also improves visibility into data so companies can quickly and confidently respond to interrogatories.
Optimize Financial Transparency
With aging assets dispersed across multiple jurisdictions, utilities need better insight into how those assets are performing. PowerPlan allows stakeholders across the company to analyze issues that can impact performance, including assets that haven’t been retired on time or tax deductions that haven’t been leveraged.
Monitor Project Costs
Utilities of all sizes are making significant infrastructure investments – whether they are transitioning to alternative energy sources or replacing aging infrastructure. Managing the costs associated with these projects is critical to optimizing financial performance. PowerPlan allows stakeholders across the company to closely monitor project actuals and compare them against the budget. This real-time data access helps identify cost overruns and quickly make adjustments.
Automation and Best Practices
With roots in the utilities industry, PowerPlan was designed to address many of the unique challenges utility companies face, including compliance and cash flow management. By automating many of the manual processes and implementing best practices, PowerPlan helps companies streamline operations and improve financial performance.
How PowerPlan Helps
Learn more about how each stakeholder across the enterprise benefits from PowerPlan’s platform:
- Accounting: Track assets at the most granular level for all departments.
- Income Tax: Learn how to improve all your tax strategies
- Property Tax: Reduce your annual property tax burden
- Regulatory: Run complex scenarios before your rate cases and reduce regulatory lag
- Financial Planning and Analysis: Track your complex capital project spend