Budgets are generally entered into SAP at the cost center level. Actuals, however, can be charged to either a cost center, an order, or a WBS element. So, to compare budget to actual, charges to orders or WBS elements must be settled to the responsible cost center holding the budget and to the same cost element where the dollars were budgeted. Settlement provides a way to summarize actual costs to compare against the budget provided to the cost center.
When a charge is made to the wrong order or WBS element, the charges must be reversed. It is therefore imperative to reverse the charge in the exact amount that was charged erroneously. In order to maintain valuable detail, HPC recommends reversing the individual line items, not the total (or lump-sum) of two or more line items. Reversing and re-posting at the line item level ensures that the cost center receiving the settlement will get full credit (reversal). That said, we recognize that correcting errors at the line item level is time-consuming—and prone to error itself because the process is often manual.
That's where the HPC Journal Entry Transfer Solution (JETS) adds tremendous value. JETS enables authorized SAP users to move dollars from one cost object to another, line item by line item, far more efficiently than is possible manually. Only charges already posted may be adjusted.
Without JETS, users will likely avoid this tedious process, and post a lump-sum adjustment that may not credit the full amount of the erroneous charge(s) settled originally to the responsible cost center. In that scenario, costs may be left in the (mischarged) cost center because line-item charges weren't reversed exactly the way they were charged originally.
In other words, because SAP provides for settlement rules based upon specific cost elements charged, lumping together two or more cost elements into one adjustment can alter the settlement results, leaving dollars in the responsible cost center that would have been reversed had the adjustment been made to the original cost object and cost element. In contrast, using HPC JETS enables you to move all of the dollars to the correct cost object, such that budget-to-actual comparisons will retain their full integrity. Learn more about HPC JETS.
Tuesday, December 15, 2015
ShareThisFriday, November 20, 2015
Jerry Cavalieri speaks to SFSU MBAs about SAP
Last night, HPC CEO Jerry Cavalieri reprised his presentation about "ERP's Changing Role in the Age of Connected Everything" to the San Francisco State University MBA program's BPM class. SFSU has a thriving SAP Award Recognition Program for undergraduate and MBA students.
In addition to giving a live demonstration of SAP Financials, Cavalieri discussed how SAP has become foundational to the enterprise, and how businesses adopt new BPM strategies that redefine and modernize their ERP to adapt in today's social, mobile, and cloud IT architectures.
Students were particularly interested in learning how SAP is making the ERP easier to use, via HTML5 interfaces, and in Cavalieri's recommendation to boost their appeal to employers through the development of niche skills and continuous learning of new technologies.
In addition to giving a live demonstration of SAP Financials, Cavalieri discussed how SAP has become foundational to the enterprise, and how businesses adopt new BPM strategies that redefine and modernize their ERP to adapt in today's social, mobile, and cloud IT architectures.
Students were particularly interested in learning how SAP is making the ERP easier to use, via HTML5 interfaces, and in Cavalieri's recommendation to boost their appeal to employers through the development of niche skills and continuous learning of new technologies.
Friday, November 6, 2015
SAP Fleet Management: two new innovations
The SAP fleet management project we started this summer is moving forward nicely, and we've continued to innovate our fleet management solution for companies on SAP in two notable ways.
First, we've enhanced the fuel management interface with improved navigation for correcting odometer reads. It's now even easier to make and verify odometer corrections, which help determine when to bring vehicles in for service. We've also built standard reports that enable fleet managers to track vehicle usage along a time continuum to detect underuse or misuse based on miles driven, miles per gallon, and fuel consumption.
Second, we've automated the process for setting up new vehicles in SAP. Rather than enter each fleet unit individually in the SAP GUI, which is time-consuming and error-prone, we've added an "easy button" to the HPC Fleet Panel (shown above) that uploads multiple vehicles' master data from a single spreadsheet. This process not only creates many new vehicles in minutes, but also creates the appropriate measurement points and measurement documents automatically. Following that step, our fleet solution for SAP automatically assigns the correct maintenance plan and schedules the notification for the first service. This greatly streamlines the work involved in getting new fleet units into your SAP ERP the right way, the first time.
To learn more about how the HPC fleet template for SAP can benefit your organization, please contact us.
First, we've enhanced the fuel management interface with improved navigation for correcting odometer reads. It's now even easier to make and verify odometer corrections, which help determine when to bring vehicles in for service. We've also built standard reports that enable fleet managers to track vehicle usage along a time continuum to detect underuse or misuse based on miles driven, miles per gallon, and fuel consumption.
Second, we've automated the process for setting up new vehicles in SAP. Rather than enter each fleet unit individually in the SAP GUI, which is time-consuming and error-prone, we've added an "easy button" to the HPC Fleet Panel (shown above) that uploads multiple vehicles' master data from a single spreadsheet. This process not only creates many new vehicles in minutes, but also creates the appropriate measurement points and measurement documents automatically. Following that step, our fleet solution for SAP automatically assigns the correct maintenance plan and schedules the notification for the first service. This greatly streamlines the work involved in getting new fleet units into your SAP ERP the right way, the first time.
To learn more about how the HPC fleet template for SAP can benefit your organization, please contact us.
Wednesday, October 21, 2015
FERC Reporting for SAP® S/4 HANA
Now that more utilities are considering SAP® S/4 HANA Finance (a.k.a. "Simple Finance"), it's not surprising that questions about regulatory reporting (FERC) on SAP S/4 HANA are coming up.As a leader in optimizing FERC for the SAP® ERP since the mid-1990s, HPC America has documented the first FAQ to address some of the most immediate questions utilities have about the impact of S/4 HANA on regulatory accounting and FERC reporting. Whether you're already running the FERC module, or have a homegrown derivation- or transaction-based FERC solution in place to functionalize your GAAP accounts, this short paper will provide some guidance on what to expect. Public and investor-owned utility companies running SAP may request the FAQ about FERC reporting on SAP S/4 HANA here.
Friday, October 16, 2015
Video: Utility FICO/FERC panel discussion at SAP Controlling 2015
At last month's SAP Controlling conference, HPC moderated a panel discussion of four utility company controllers and FICO/FERC experts from RPU, NTUA, FirstEnergy, and Sharyland Utilities, covering a range of topics around modern cost accounting and regulatory reporting strategies for utilities on SAP.
Panelists Bryan Blom, Gerard Curley, Steve Law, and Armando Bustamante were joined in an engaging discussion by utility FICO/FERC professionals from PSEG, Salt River Project, CPS Energy, and EDF Renewable Energy.
Watch the SAP Controlling video online:
Panelists Bryan Blom, Gerard Curley, Steve Law, and Armando Bustamante were joined in an engaging discussion by utility FICO/FERC professionals from PSEG, Salt River Project, CPS Energy, and EDF Renewable Energy.
Watch the SAP Controlling video online:
Tuesday, September 1, 2015
Utility FICO/FERC Topics at SAP Controlling 2015 - Part 2/2
Following up on last week's post, the utility company panel discussion at the 2015 SAP Controlling conference will give utility company controllers, utility accounting and finance managers, and Rates department managers a chance to learn from several highly experienced utility FICO/FERC subject matter experts.
Steve Law, Business Analyst at FirstEnergy Corporation, will discuss FirstEnergy's steps to eliminate clearing groups and resolve negative flow errors. Steve has more than 35 years of experience in utility accounting, and has worked in General Accounting, Financial Reporting, Internal Controls, and Business Services. Most recently, Steve has been a project lead on FirstEnergy's upgrade to a "CO-centric" FERC model that enhances external reporting with Controlling module data.
Armando Bustamante, Controller of Sharyland Utilities, will speak about streamlining Sharyland's regulatory reporting and creating a hybrid functional Income Statement. Armando has more than 20 years of experience in accounting, including Financial Reporting and External Audit. He began his professional career with PriceWaterhouseCoopers in Venezuela and Dallas, before joining the Hunt Family of Companies in 2011. Armando is also a CPA.
Contact HPC to learn more about modern SAP FICO/FERC strategies for utilities at the 2015 SAP Controlling conference, and to request group discount registration passes.
Steve Law, Business Analyst at FirstEnergy Corporation, will discuss FirstEnergy's steps to eliminate clearing groups and resolve negative flow errors. Steve has more than 35 years of experience in utility accounting, and has worked in General Accounting, Financial Reporting, Internal Controls, and Business Services. Most recently, Steve has been a project lead on FirstEnergy's upgrade to a "CO-centric" FERC model that enhances external reporting with Controlling module data.
Armando Bustamante, Controller of Sharyland Utilities, will speak about streamlining Sharyland's regulatory reporting and creating a hybrid functional Income Statement. Armando has more than 20 years of experience in accounting, including Financial Reporting and External Audit. He began his professional career with PriceWaterhouseCoopers in Venezuela and Dallas, before joining the Hunt Family of Companies in 2011. Armando is also a CPA.
Contact HPC to learn more about modern SAP FICO/FERC strategies for utilities at the 2015 SAP Controlling conference, and to request group discount registration passes.
Monday, August 24, 2015
Utility FICO/FERC Topics at SAP Controlling 2015 - Part 1/2
At next month's SAP Controlling conference in San Diego, the utility company panel discussion will cover a number of SAP cost accounting and regulatory reporting topics relevant to utility controllers, utility finance and accounting managers, and Rates department experts.
Bryan Blom, Controller of Rochester Public Utilities, will speak about RPU's steps to improve SAP FERC reporting clarity, and their process for eliminating offline cost calculations. Bryan is a CPA and has more than 16 years of SAP Financials experience. Today, he is responsible for general ledger accounting and reporting; treasury management; accounts payable, budgeting and forecasting; financial regulatory reporting; utility billing, credit and collections; and financial, cost, and rate analysis.
Gerard Curley, Controller of Navajo Tribal Utility Authority, will speak about improving NTUA's assessment process, and minimizing month-end reconciliations in SAP. Gerard has more than 10 years of SAP Financials experience, and focuses on optimizing NTUA's ERP functionality to streamline operations of the utility's electric, gas, water, wastewater, photovoltaic, and communication services.
Contact HPC to learn more about modern SAP FICO/FERC strategies for utilities at the 2015 SAP Controlling conference, and to request group discount registration passes.
Bryan Blom, Controller of Rochester Public Utilities, will speak about RPU's steps to improve SAP FERC reporting clarity, and their process for eliminating offline cost calculations. Bryan is a CPA and has more than 16 years of SAP Financials experience. Today, he is responsible for general ledger accounting and reporting; treasury management; accounts payable, budgeting and forecasting; financial regulatory reporting; utility billing, credit and collections; and financial, cost, and rate analysis.
Gerard Curley, Controller of Navajo Tribal Utility Authority, will speak about improving NTUA's assessment process, and minimizing month-end reconciliations in SAP. Gerard has more than 10 years of SAP Financials experience, and focuses on optimizing NTUA's ERP functionality to streamline operations of the utility's electric, gas, water, wastewater, photovoltaic, and communication services.
Contact HPC to learn more about modern SAP FICO/FERC strategies for utilities at the 2015 SAP Controlling conference, and to request group discount registration passes.
Friday, August 21, 2015
Sharyland Utilities to Join SAP Controlling 2015 Customer Panel
HPC America is pleased to announce that Sharyland Utilities will be joining the SAP Controlling customer panel discussion on modern cost accounting and regulatory reporting on September 22.
Armando Bustamante is the Controller of Sharyland Utilities, which serves over 50,000 electric delivery points in 29 counties throughout Texas. Armando is responsible for many aspects of SAP Financials at Sharyland, including general ledger accounting and reporting, accounts payable, financial regulatory reporting, and project accounting. Armando is currently leading Sharyland's implementation of the SAP FERC module, and he is a contributor on the implementation of a new hosted CIS module. Armando has more than 20 years of experience in accounting, including Financial Reporting and External Audit. He began his professional career with PriceWaterhouseCoopers in Venezuela and the Dallas offices before joining the Hunt Family of Companies in 2011. Armando is a CPA and earned an MBA from the University of Dallas.
Learn more about the utility company SAP FICO/FERC panel discussion at Controlling 2015.
Wednesday, July 29, 2015
FirstEnergy to join Utility Panel Discussion at SAP Controlling 2015
Back in January we announced that the 2015 SAP Controlling conference in San Diego would include for the first time some utility-specific content: a panel discussion of utility company accounting experts sharing their latest solutions to SAP cost accounting, regulatory reporting, and other SAP FICO/FERC challenges. (Plus, a networking session for utility industry professionals.)
We're very pleased to announce that Bryan Blom and Gerard Curley, Controllers from RPU and NTUA, respectively, will be joined on the utility industry panel by Steve Law, a business analyst and FICO/FERC subject matter expert from FirstEnergy Corporation, a diversified energy company headquartered in Akron, OH that serves 6 million customers across Ohio, Pennsylvania, West Virginia, New Jersey, Maryland, and New York.
Steve has more than 35 years of experience in utility accounting, and has worked in General Accounting, Financial Reporting, Internal Controls, and Business Services. Since 1998, Steve's primary responsibility has been Regulatory Reporting; he led the SAP FERC module implementations at General Public Utilities Corp. in 1999, and at FirstEnergy in 2003. Today, he is a project lead on FirstEnergy's upgrade to a "CO-centric" FERC model that enhances external reporting with Controlling module data.
Learn more about the utility industry panel discussion at Controlling 2015, and contact HPC to share any questions or discussion topics that you would like the panelists to address.
We're very pleased to announce that Bryan Blom and Gerard Curley, Controllers from RPU and NTUA, respectively, will be joined on the utility industry panel by Steve Law, a business analyst and FICO/FERC subject matter expert from FirstEnergy Corporation, a diversified energy company headquartered in Akron, OH that serves 6 million customers across Ohio, Pennsylvania, West Virginia, New Jersey, Maryland, and New York.
Steve has more than 35 years of experience in utility accounting, and has worked in General Accounting, Financial Reporting, Internal Controls, and Business Services. Since 1998, Steve's primary responsibility has been Regulatory Reporting; he led the SAP FERC module implementations at General Public Utilities Corp. in 1999, and at FirstEnergy in 2003. Today, he is a project lead on FirstEnergy's upgrade to a "CO-centric" FERC model that enhances external reporting with Controlling module data.
Learn more about the utility industry panel discussion at Controlling 2015, and contact HPC to share any questions or discussion topics that you would like the panelists to address.
SAP Fleet Management for utilities
We're starting another SAP Fleet Management implementation for a utility company this month, based on the HPC Fleet Template and our proven best practices for preventive maintenance schedules, notifications, and fleet costing at utilities on SAP.
This latest project will consolidate several legacy fleet systems into SAP using standard SAP Plant Maintenance and Materials Management functionality—plus HPC America's "fleet dashboard" that provides easy, user-friendly access to common fleet management tasks in SAP for mechanics, fleet managers, and other administrators.
The HPC Fleet Dashboard provides quick access to the daily functions required to maintain vehicles in SAP from purchase through retirement.
This latest project will consolidate several legacy fleet systems into SAP using standard SAP Plant Maintenance and Materials Management functionality—plus HPC America's "fleet dashboard" that provides easy, user-friendly access to common fleet management tasks in SAP for mechanics, fleet managers, and other administrators.
The HPC Fleet Dashboard provides quick access to the daily functions required to maintain vehicles in SAP from purchase through retirement.
Monday, June 15, 2015
New Software for Utilities on SAP: HPC Cost Flow Forensics (CFF)
Total visibility into complex cost flows—to the penny
HPC Cost Flow Forensics (CFF) is software for utility companies on SAP® that provides total visibility into lengthy or complex cost flows. It enables Rates and Finance professionals to identify the dollars and descriptions associated with every single cost object by FERC account, even those typically obscured from view in between the final (receiver) and source (sender) objects. As a result, HPC CFF improves responsiveness to regulatory inquiries and reduces audit risk, with zero disruption to current operations practices.
Complex Cost Flows Hinder Transparent Regulatory Reporting in SAP
As utilities have grown through acquisition over the last decade, their cost flows have become increasingly lengthy and complex. Key elements in the flow are often obscured from view, challenging Rates and Finance to answer questions about actual costs from regulators and management. The traditional cost model and legacy SAP FERC solution are simply not sufficient to expose the rich detail typically found in internal orders and WBS elements:
HPC Cost Flow Forensics (CFF) Delivers Complete Transparency
In combination with the IS-U/FERC Module and HPC Utility Financials Accelerator, HPC CFF exposes all of the cost objects in between the cost flow's sender and receiver. In doing so, it improves responsiveness and accuracy to regulatory inquiries; reduces audit risk and strengthens rate case positions; and, ultimately, provides one version of the truth between FI, CO, and FERC.
Learn more about HPC Cost Flow Forensics and how it can benefit regulated utilities on SAP.
Complex Cost Flows Hinder Transparent Regulatory Reporting in SAP
As utilities have grown through acquisition over the last decade, their cost flows have become increasingly lengthy and complex. Key elements in the flow are often obscured from view, challenging Rates and Finance to answer questions about actual costs from regulators and management. The traditional cost model and legacy SAP FERC solution are simply not sufficient to expose the rich detail typically found in internal orders and WBS elements:
HPC Cost Flow Forensics (CFF) Delivers Complete Transparency
In combination with the IS-U/FERC Module and HPC Utility Financials Accelerator, HPC CFF exposes all of the cost objects in between the cost flow's sender and receiver. In doing so, it improves responsiveness and accuracy to regulatory inquiries; reduces audit risk and strengthens rate case positions; and, ultimately, provides one version of the truth between FI, CO, and FERC.
Learn more about HPC Cost Flow Forensics and how it can benefit regulated utilities on SAP.
Friday, April 17, 2015
SAP FERC Implementation with HPC UFA
Another utility company has selected HPC America to implement a best practices FERC regulatory accounting solution in its SAP system. This latest project will strengthen the utility's preparation for and position in rate cases; reduce reliance on processes outside the ERP; and optimize the use of internal and PM orders—all while minimizing disruption to field operations.
To modernize its regulatory accounting configuration and support future growth, the utility has selected HPC Utility Financials Accelerator (UFA), which is certified by SAP as powered by the NetWeaver® technology platform. HPC UFA improves the trace functionality and reporting capabilities of the legacy SAP FERC solution—which HPC had originally created for Pacific Gas & Electric and then sold to SAP in the mid-nineties—and also provides advanced recasting and budgeting features for regulatory reporting on SAP. HPC UFA will allow the utility to go live with its new FERC solution in time for 2015 reporting.
In addition, the project includes replacement of an extensive assessment process with an overhead-centric model that will improve transparency of labor burdens for benefits, payroll taxes, PTO, supervision, engineering, A&G transfer to construction, and store expense burdens on material issues. HPC advocates this design to minimize reliance on difficult-to-understand assessments, improve the predictability of estimating job costs, ensure that shared costs are applied as fairly as possible across WBS elements, and increase the efficiency of the month-end close.
To modernize its regulatory accounting configuration and support future growth, the utility has selected HPC Utility Financials Accelerator (UFA), which is certified by SAP as powered by the NetWeaver® technology platform. HPC UFA improves the trace functionality and reporting capabilities of the legacy SAP FERC solution—which HPC had originally created for Pacific Gas & Electric and then sold to SAP in the mid-nineties—and also provides advanced recasting and budgeting features for regulatory reporting on SAP. HPC UFA will allow the utility to go live with its new FERC solution in time for 2015 reporting.
Thursday, April 2, 2015
SAP FICO/FERC Expert Duane Fritz Joins HPC America
HPC America is pleased to announce that SAP FICO/FERC expert Duane Fritz has joined HPC as a Senior SAP Consultant. Reinforcing our team's longstanding expertise in utility financials, regulatory accounting, and work management, Duane brings twenty years of experience in the Utilities and Oil & Gas industries, and more than 17 years of SAP experience.
While at Oklahoma Gas & Electric, Anadarko Petroleum, KBR, Inc., and Enron, Duane configured and supported SAP ERP applications; held team lead and managerial responsibilities; contributed to three full life-cycle SAP R/3 implementations; fulfilled internal and external reporting and audit requirements; and developed SAP redesign and upgrade strategies. Duane has deep expertise in SAP FI, CO, FERC, and FSCM, and additional experience with JVA, AR, AP, HR-Payroll & Time, MM, PP, PS, SD, BCS, and BW. He holds a B.S. in Accounting.
Duane's relationship with HPC extends back to the late-1990s, when HPC assisted OG&E with the implementation of the FERC module, which HPC had originally built for Pacific Gas & Electric and then sold to SAP for distribution to other utilities on SAP. "I'm thrilled that Duane has joined HPC's team of utility finance experts," commented Jerry Cavalieri, CEO of HPC. "I've known him since the early days of SAP FERC reporting and our FERC group in ASUG, and am confident that his experience will benefit HPC's customers as they seek to modernize SAP Financials for utilities."
Monday, March 23, 2015
SAP Financials Conference recap
After ninety-something demonstrations of the HPC Journal Entry Transfer Solution, casino bells still ringing in our ears, we're back in the office. The 2015 SAP Financials conference was a great opportunity to talk with SAP users in finance and accounting, and those in IT who support them, about their pain points and HPC's 20 years of experience eliminating such discomfort.
We met people from all over the country and across a broad range of industries. Since HPC JETS reduces the time and expense of correcting mischarged cost objects directly in the ERP for any company running SAP Financials, it was relevant to just about everyone we met. Some GRC folks didn't quite get it, and others are part of such large enterprises they're far removed from the problems JETS solves, but after a two-minute demo we saw most heads nod in appreciation.
On the utility front, we also had the pleasure of meeting more finance staff from one prospective customer that we've chatted with over the last two years, and talking extensively with another customer whose SAP FERC optimization project with HPC Utility Financials Accelerator starts next week.
And the biggest draw of the show? Our friendly SAP finance experts.
We met people from all over the country and across a broad range of industries. Since HPC JETS reduces the time and expense of correcting mischarged cost objects directly in the ERP for any company running SAP Financials, it was relevant to just about everyone we met. Some GRC folks didn't quite get it, and others are part of such large enterprises they're far removed from the problems JETS solves, but after a two-minute demo we saw most heads nod in appreciation.
On the utility front, we also had the pleasure of meeting more finance staff from one prospective customer that we've chatted with over the last two years, and talking extensively with another customer whose SAP FERC optimization project with HPC Utility Financials Accelerator starts next week.
And the biggest draw of the show? Our friendly SAP finance experts.
Tuesday, March 3, 2015
SAP Financials 2015: Meet in HPC in Vegas at Booth #1150
Just two weeks from now, we'll be setting up our shiny new trade show booth at the 2015 SAP Financials conference in Las Vegas. We'll be in Booth #1150 across from the dining area, and you probably won't miss our...unconventional...presence.
In advance of the conference, we have one question for any company running SAP Financials:
How much time and money are you spending every year to identify and correct mischarged orders, cost centers, and other cost objects?
Could it be 1.0 FTE? 2.0? Or even more when you factor in everyone involved in your process?
To reduce this expense and make better use of your resources, HPC has developed a more efficient, cost effective solution that will save you money: the HPC Journal Entry Transfer Solution (JETS).
HPC JETS is an ABAP-based application that runs inside SAP ECC and minimizes reliance on finance solutions and processes outside your ERP. It enables you to find mischarged orders, cost centers, and other cost objects; correct them via standard SAP parking and posting functionality; and then audit the results of your adjustments directly in SAP. In this way, HPC JETS dramatically reduces the time, expense, and risk of cost corrections, while improving data integrity compared to lump-sum journal entries that lose valuable detail.
To see how much JETS achieves with so little effort, stop by HPC's booth at SAP Financials for a five-minute product demonstration. In the meantime, you can learn more about JETS or contact us to schedule a meeting at SAP Financials 2015.
In advance of the conference, we have one question for any company running SAP Financials:
How much time and money are you spending every year to identify and correct mischarged orders, cost centers, and other cost objects?
Could it be 1.0 FTE? 2.0? Or even more when you factor in everyone involved in your process?
To reduce this expense and make better use of your resources, HPC has developed a more efficient, cost effective solution that will save you money: the HPC Journal Entry Transfer Solution (JETS).
HPC JETS is an ABAP-based application that runs inside SAP ECC and minimizes reliance on finance solutions and processes outside your ERP. It enables you to find mischarged orders, cost centers, and other cost objects; correct them via standard SAP parking and posting functionality; and then audit the results of your adjustments directly in SAP. In this way, HPC JETS dramatically reduces the time, expense, and risk of cost corrections, while improving data integrity compared to lump-sum journal entries that lose valuable detail.
To see how much JETS achieves with so little effort, stop by HPC's booth at SAP Financials for a five-minute product demonstration. In the meantime, you can learn more about JETS or contact us to schedule a meeting at SAP Financials 2015.
Webinar recording: SAP Controlling Best Practices
If you missed our Webinar on SAP Controlling best practices for utilities, hosted by ERP Corp. on February 20, 2015, you can watch it online anytime. Many thanks again to John Jordan and Alice Adams for making this virtual event a success.
Based on our 20+ years of experience optimizing SAP Financials for utility companies, HPC CEO Jerry Cavalieri presented these six recommendations:
Based on our 20+ years of experience optimizing SAP Financials for utility companies, HPC CEO Jerry Cavalieri presented these six recommendations:
- Shorten and simplify cost flows
- Minimize summarization
- Support FERC with CO documents
- Push costs to the facility level
- Use assessments to feed overheads
- Prepare for line item reporting
Tuesday, February 17, 2015
One last reminder: Webinar for utilities on SAP
In case you missed it: This Friday, February 20, 2015 at 10:00am PST / 1:00pm EST, HPC America and ERP Corp. will present a Webinar on SAP Controlling Best Practices for Utilities. You can register online.
HPC America CEO Jerry Cavalieri will present the Webinar, sharing his 25 years of utility industry experience and most recent expertise in assisting utilities to modernize their SAP Financials.
Friday, February 6, 2015
Webinar on SAP Controlling Best Practices for Utilities
Don't forget: Two weeks from today, on Friday, February 20, 2015 at 10:00am PST / 1:00pm EST, HPC and ERP Corp. will present a Webinar on SAP Controlling Best Practices for Utilities. You can register online.
When utility companies first started to use the SAP ERP in the mid-nineties, cost flows were meant to be simple and system designs were largely FI-centric.
Five SAP Controlling Best Practices for Utilities
When utility companies first started to use the SAP ERP in the mid-nineties, cost flows were meant to be simple and system designs were largely FI-centric.
Much has changed in the last 20 years: cost models have grown more complex; CO documents contain valuable, often untapped, information; and assessments are increasingly used. As a result, good visibility into costs is harder to achieve and defensible regulatory reporting requires more work. Fortunately, this trend can be reversed.
In this Webinar, you'll learn five SAP Controlling best practices from HPC America to increase reporting clarity and efficiency, eliminate reconciliation issues between CO and FERC, and ultimately strengthen the utility's position in regulatory inquiries and rate cases.
HPC America CEO Jerry Cavalieri will present the Webinar, sharing his 25 years of utility industry experience and most recent expertise in assisting utilities to modernize their SAP Financials.
Thursday, January 22, 2015
2015 SAP Controlling Conference: Utility-Centric Sessions
Looking ahead to late-September 2015, HPC America will return to the SAP Controlling conference in San Diego. This year, we'll also be moderating two sessions at the event. The first will be a Customer Panel Discussion on modern cost accounting and FERC strategies for utilities on SAP. Key topics will include:
- Best practices for using assessments with overheads to capitalize indirect labor and expenses
- Improving defensibility of FERC accounts through CO documents
- Benefits of using CO for pricing fleet units and applying pricing to work orders
This discussion will include Controllers from RPU and NTUA, both of whom have a extensive real-world experience with SAP Financials for utilities.
We'll also be hosting an Expert-Led Networking session for utilities and public sector organizations, which will provide attendees an opportunity to discuss budget preparation and experience with SAP and third-party solutions; infrastructure and support sharing across organizations, districts, or governments; meeting internal and external reporting requirements; improving visibility into costs; and other topics unique to utility companies, municipalities, and other public sector entities.
To learn more about HPC's plans for the 2015 SAP Controlling conference, or to request a discounted conference pass, please contact us.
Multi-state electric utility to optimize SAP FERC with HPC America
We're starting 2015 with a terrific long-term project to modernize the SAP Regulatory Reporting (FERC) design of a multi-jurisdictional utility company, including SAP FICO and FERC consulting and the implementation of HPC Utility Financials Accelerator software, which extends the capability of the original FERC module and is certified by SAP as powered by the NetWeaver® technology platform.
Our client is one of the largest electric distribution utilities in the United States, serving six million customers across five states. After having revamped its SAP Financials system in recent years, the utility determined that optimizing SAP Regulatory Reporting is the next step in modernizing its SAP ERP.
Late last year, a joint team of HPC's SAP consultants and the client's subject matter experts identified a number of key regulatory reporting challenges the utility faces. The Rates Department does not have easy, independent access to complete SAP FERC data; cost flows are unusually long and complex; the allocation model is not currently visible to the SAP FERC process; and SAP FERC run times are unusually long and error-prone.
To address these issues, HPC will replace the utility's legacy FI-centric (GL-based) cost model with a modern CO-centric model that traces all primary and secondary costs, eliminates reconciling differences between SAP FI, CO, and FERC, and simplifies cost flow complexity with little disruption to current business processes. Through HPC's system design and Utility Financials Accelerator software, the utility will benefit from a faster monthly FERC close, improved rate case support, and greater end-user self-sufficiency for regulatory reporting activities. The new system is slated to go live in January 2016.
Our client is one of the largest electric distribution utilities in the United States, serving six million customers across five states. After having revamped its SAP Financials system in recent years, the utility determined that optimizing SAP Regulatory Reporting is the next step in modernizing its SAP ERP.
Late last year, a joint team of HPC's SAP consultants and the client's subject matter experts identified a number of key regulatory reporting challenges the utility faces. The Rates Department does not have easy, independent access to complete SAP FERC data; cost flows are unusually long and complex; the allocation model is not currently visible to the SAP FERC process; and SAP FERC run times are unusually long and error-prone.
To address these issues, HPC will replace the utility's legacy FI-centric (GL-based) cost model with a modern CO-centric model that traces all primary and secondary costs, eliminates reconciling differences between SAP FI, CO, and FERC, and simplifies cost flow complexity with little disruption to current business processes. Through HPC's system design and Utility Financials Accelerator software, the utility will benefit from a faster monthly FERC close, improved rate case support, and greater end-user self-sufficiency for regulatory reporting activities. The new system is slated to go live in January 2016.
Wednesday, January 7, 2015
Webinar: Five SAP Controlling Best Practices for Utilities
Please join HPC America and ERP Corp, hosts of the SAP Controlling conference, for a Webinar on Friday, February 20, 2015 from 10:00-11:00am PST. Register online.
Five SAP Controlling Best Practices for Utilities
When utility companies first started to use the SAP ERP in the mid-nineties, cost flows were meant to be simple and system designs were largely FI-centric.
Much has changed in the last 20 years: cost models have grown more complex; CO documents contain valuable, often untapped, information; and assessments are increasingly used. As a result, good visibility into costs is harder to achieve and defensible regulatory reporting requires more work. Fortunately, this trend can be reversed.
In this Webinar, you'll learn five SAP Controlling best practices from HPC America to increase reporting clarity and efficiency, eliminate reconciliation issues between CO and FERC, and ultimately strengthen the utility's position in regulatory inquiries and rate cases.
HPC America CEO Jerry Cavalieri will present the Webinar, sharing his 25 years of utility industry experience and most recent expertise in assisting utilities to modernize their SAP Financials.
Subscribe to:
Posts (Atom)
