While data needs to be aggregated from across an organization, CFOs lose valuable insights to the company’s assets thus being compelled to make compromises and assumptions during an entire asset lifecycle. Atlanta-based PowerPlan addresses this problem with solutions for integration of enterprise asset administration. “We have a fully integrated set of asset-centric accounting, tax, forecasting and budgeting software specifically for companies with complex assets,” extols Goodman. In addition to the regulatory challenges of running an asset-centric organization, companies are also scrutinized by tax agencies and their constituents propelling them to delve deeper into the details of asset to communicate it efficiently. PowerPlan assist such organizations to mitigate their financial, regulatory, and tax risks by integrating with company’s ERP, EAM, and other financial systems to capture and store detailed data on assets. This software-based approach provides real-time access to asset data, overcoming existing systems where collection of information from different departments is time consuming.
The challenge is to collect data from across the enterprise and provide key stakeholders with the visibility throughout the lifecycle of an asset
The firm’s finance software has been designed to meet the critical need for financial transparency across the industrial sectors like oil and gas, public, telecom, transportation, and utilities. Over the years, PowerPlan has assisted their varied customers to identify the root cause of underperforming business with insight, analysis, and reporting capabilities, thus saving time in the preparation of manual excel regulatory reports. Companies such as Amtrak, Duke Energy, Southern Company, TransCanada, Verizon, and Williams form a part of their diverse customer-base. “We were aiming for a 10 percent ROI. PowerPlan brings so much expertise that they delivered a 200 percent ROI on the project. They’ve gone above and beyond,” says VP of PowerPlan’s client, EQT Corp.
Fostering a culture of cost and time management, PowerPlan continues to eliminate the need for numerous spreadsheets and manual journals for reporting to allow organizations manage their core business functionalities. Identifying the impact of tax, accounting, budgeting, and regulatory on business operations, the firm extends technical and business process expertise to develop solutions that address specific business problems.