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.
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.
ShareThisThursday, 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.
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