Case Study
Utilities
Optimize utility operations
Overview
With multiple proven national and corporate touch points in the Utilities industry, FlexSystem offers comprehensive cloud, on-premise and hybrid solutions to support the automation of transactional processes, together with the implementation of required controls and cross-application reporting for decision support and management activities across both traditional and emerging energy-focused entities. With a proven analytical capability that can leverage multiple types of data sources, our solution set provides the basis for you to gain deep insights into business operations at both balance sheet and P&L level, combined with knowledge of operational dynamics.
Additionally, for investment companies, with ownership stakes across multiple countries, a single view of operations in both local and required currencies can be produced (for example, exchange reserves) with drill down by segment, subgroups, business nature and currency.
Supported by FlexSystem’s expanded solution suite of Financials, Trading, Workflow, Human Resources, Business Intelligence and IOT and with deep integration capability through APIs such as Open Banking, our solutions bring added value to utility-based organizations.
Below is a small sampling of FlexSystem solution for Utilities.
Utility Company
Background and Key Issues
An Integrated Water and Environmental Company with over 17,000 employees and more than US$2B revenuem operating across Asia and Europe, currently faces key issues as below:
- Reduce time and friction in multi-entity consolidations
- Automate repetitive data input under high time pressure
- Improve FX rate handling and currency reconciliation
- Implement advanced analytics for management and controls
- Enable analytic for entire treatment and carriage systems to leverage IOT
Needs and Challenges
FlexSystem Solutions Applied
Financial Consolidation
Automated repetitive data input and complex fiscal consolidation treatments (including FX handling), significantly reducing friction in multi-entity consolidations for hundreds of subsidiaries.
Financial Query
Provided quick access to valuable information and enabled detailed reporting at various levels, supporting the need for fact-driven strategies and better controls.
Benefits and Results
Shallow learning curve with spreadsheet interface
Quick access to valuable information
Accurate and traceable fiscal consolidation treatments
Significant reduction in time for issuing Notes to Accounts
50% reduction in staff requirements
Detailed reporting at various levels
Easy cross-checking of account balances
Improved quality of information for fixed assets, intangible assets, segments, and other notes
Easy access to financial statements by sub-group classifications