With annual capital budgets into the billions, and thousands of projects delivered each year, energy and utilities organizations are struggling under the weight and range of project and financial information that must be managed. These organizations are challenged with getting a true picture of how capital and operational execution relates to organizational strategy and regulatory commitment.
From a systems perspective, utilities organizations often maintain multiple project and work management systems in isolation, maintain financial actuals in ERPs, and typically use offline spreadsheets for financial planning, forecasting, and reporting. There is often no link between strategic plans and project delivery, leaving the organization unable to react quickly to issues and trends.
EcoSys Financial Manager addresses these issues with an easy to use web application that allows for the maintenance and integration of complex data at varying levels of detail.
Budgeting and Planning
FM provides robust features for annual and multi-year budget planning, budget requests, and approvals. Budgets can be managed top-down, from organization lines of business down to projects and phases. Programs, projects, and operations can be funded from one or more source. Learn MoreProgram and Project Forecasting
FM provides the ability to consolidate program, project, and operational forecasts from Project Management systems and ERPs and give project cost managers the ability maintain financial forecasts by accounting month and financial category. Using a simple spreadsheet-like web interface, cost managers can view and update the latest forecast information, produce reports, and analyze trends. Learn morePerformance Measurement
Flexible performance analysis and reporting are key requirements for finance managers. FM provides the ability to consolidate and view actual expenditures from multiple sources (ERPs, GL, and Project Management systems). Accruals can also be managed via FM. A formal financial closeout process provides for lockdown of history, at the same time, authorized users can perform secure financial adjustments to prior period data.Flexible multi-dimensional reports and graphs can be easily created in FM without the involvement of technical or administrative staff. Users can analyze top-down organizational budgets and strategy versus bottom-up forecasts and actuals and view variances and trends by period.
Learn moreRegulatory compliance and governance
For regulated companies, a key challenge addressed by FM is the ability to align capital investment strategies with regulatory commitments. Regulatory compliance information can be flexibly categorized and tracked against actual project delivery information. FM also supports multi-year budgeting for organizations that must comply with multi-year commitments.Custom reports can be easily created to support the specific needs of the regulator or governing body.
