Are you getting enough information from operations to define and track assets at the right level of detail? Are you under pressure to produce detailed reports for regulatory, tax, and other departments? Do you have the information needed to enable strategic decision making?
PowerPlan’s enterprise platform automatically captures and stores key asset information at a granular level and ensures the right information gets to the right people. By streamlining workflow and reporting, companies are able to make decisions that help improve accounting processes across the entire asset lifecycle, mitigate compliance risk and optimize financial performance.
Streamline the Flow of Information from the Field to Accounting
PowerPlan allows accounting to capture detailed information from operations without asking field personnel to manually record it. Technicians can focus on their projects while accounting receives the detail it needs. When assets are created, PowerPlan helps model them so each stakeholder gets the information it needs, and when assets are removed from service, PowerPlan automates and streamlines the retirement process.
Manage Assets from a Central Platform
The lifecycle of an asset can be 20 to 30 years, and throughout this period accounting needs to track detailed information about the asset. If they don't have this detail, companies tend to be more conservative in their decision making. PowerPlan maintains a granular level of asset information in a central repository, so stakeholders have the data they need to make more informed strategic decisions.
Get the Right Information from the Right People at the Right Time
Information stored in departmental silos makes it difficult for accounting and other stakeholders to quickly get the data they need. Without a single “source of truth”, conflicts can arise between departments, and getting consensus is difficult. Because PowerPlan serves as the central repository for asset data, every stakeholder has access to the detailed capital asset information for reporting and to make better decisions.
By choosing PowerPlan, companies have:
- Eliminated hundreds of spreadsheets and ad hoc reports
- Increased asset base by three times while maintaining existing staff levels
- Decreased tax liability up to 100% by reducing the number of invoice and payroll lines