PowerPlan: Mitigating Compliance Risk with Greater Rewards

CIO VendorJohn Andrus, CEO As a CIO, supporting the world’s infrastructure can be daunting. Every day, you are responsible for a range of critical functions-from helping your teams keep the lights on to making certain oil gets to market so people can drive to work.

To add to your daily pressures, CIOs are continually being asked to do more with less and face a host of new issues such as cyber security, supporting software other teams selected, and maintaining compliance in an ever changing regulatory landscape.

Since 1994, Atlanta-based PowerPlan has followed a clear mission: to support the world’s infrastructure with purposebuilt accounting, tax, and capital budgeting solutions that help asset-intensive companies improve compliance and mitigate risk.

Over the years, PowerPlan has witnessed companies struggling to maintain the level of detail on their assets that is required by regulatory agencies. Companies managed compliance with a range of do-it-yourself approaches from spreadsheets to complex and costly customization of their Enterprise Resource Planning (ERP) and Enterprise Asset Management (EAM) systems. These approaches, however, have proven to be little more than band-aid fixes, and in some cases, they add risk and compliance issues across the organization.
PowerPlan solutions are specifically designed to augment, integrate and translate the data gaps between General Ledgerbased applications and accounting systems, with a specific focus on the unique needs of asset-intensive companies in industries such as utilities, oil and gas, transportation, telecommunications, and mining. This ability to harmonize data and eliminate gaps allows companies to manage detailed information for every asset.


We offer software solutions built specifically for companies who construct and retain assets and whose assets influence pricing decisions


By automating the complete asset lifecycle from planning through retirement, PowerPlan helps companies make strategic decisions to improve cash flow, minimize taxes and manage costs at a detailed level, while tightly controlling compliance across multiple jurisdictions.

“PowerPlan capabilities eliminate re-work, double entry and the need for hundreds of spreadsheets, manual journals and multiple copies of accounts and ledgers. It let’s CIOs focus on bigger issues while relieving the field operations from the accounting burden. The system allows the capturing of accurate, detailed information
essential for accounting, tax and regulatory compliance,” says John Andrus, CEO, PowerPlan.

PowerPlan has more than two decades of expertise in providing invaluable solutions to blue-chip, Fortune 500 companies to reduce compliance risk, improve cash flow, process taxes and provide effective operational cost management.

PowerPlan is committed to staying up-to-date on changing regulations and to providing timely delivery of all SEC/ FASB, Federal and state changes, and requirements for US GAAP, Canadian GAAP, IFRS, FERC and state commissions. For example, the IRS’s tangible property regulations were years in the making and when companies lobbied the IRS for specific industry resolutions, PowerPlan was there. As PowerPlan developed its patent-pending Tax Repairs module, they evolved the solution to be compliant as regulations changed. These capabilities enable businesses to more tightly control governance, stand up to audits, reduce the possibility of restatements and improve recoveries.

At its core, PowerPlan unlocks businesses from a rigid, GL-centric approach to asset accounting, and signals the end of enterprise platform customization and costly upgrades. Designed for today’s economic climate, PowerPlan unlocks cash trapped in every asset by aligning detailed cost information across multiple geographies with physical assets. With PowerPlan solutions, asset-intensive companies can more efficiently capture tax benefits, manage costs and free up cash flow. Today, CIOs at the world’s most demanding asset-intensive companies trust PowerPlan to help improve their compliance risk.

Company
PowerPlan

Headquarters
Atlanta, GA

Management
John Andrus, CEO

Description
Provides asset and tax related software for asset intensive companies.