PowerPlan continues to innovate financial solutions for the unique requirements of the energy industry

PowerPlan’s latest version, 2021.1, solves complex issues ahead of the infrastructure bill and brings more innovation, greater intelligence and an improved user experience

ATLANTA, May 18, 2021 (GLOBE NEWSWIRE) -- PowerPlan, Inc. today announces the availability of version 2021.1, developed to address the unique needs of the energy industry ahead of tax reform. This release also includes enhanced lease reporting options and updates improving the enablement of RPAs for fixed asset accounting.

“I am proud our latest releases were completed with customer input to address the most pressing issues facing energy companies today,” said Suzanne Ward, Senior Vice President of Product Management. “We heard from our customers they need to be prepared, in advance, for the likelihood of tax reform. In response, we enhanced existing functionality and we are committed to monitoring the progress of this plan and adjusting our products accordingly. Additionally, we continue to strengthen the customer experience across all our major suites with enhanced usability and intuitive, streamlined processes.”

Purpose-built for energy companies and providing unparalleled financial functionality for the office of the CFO, today’s 2021.1 release builds upon the November 2020.2 release, continuing to drive innovation that will prepare companies for the potential corporate tax change as part of the infrastructure bill. Each suite offers users enhanced capabilities and new features:

• Income Tax: Automates the most complex manual tasks allowing for easier forecasting of proposed impacts and tracking of deferred taxes after a corporate tax rate change. These updates will improve the processes and increase visibility for tax departments for the future no matter the corporate rate change.
  

• Lease: Since the passing of the lease accounting standards, lessee and lessor reporting for the energy industry increases in complexity based on-going interpretation of the standard. PowerPlan’s newest version continues to build on the reporting requirements for running disclosure reports, while reducing the time and burden to reproduce these reports for prior periods.
  

• Fixed Asset Accounting: Users will benefit from usability enhancements to reduce the effort to enable RPAs and daily data research, align transaction processing with business process for review and approvals, and ease the burden of onboarding new users.
  

• System Administration: PowerPlan administrators will benefit from new security reports that simplify meeting SOX audit requirements as well as upgrades to the latest technology components and enhancing security encryption and email configurations.
  

• AIO: Includes many customer-driven enhancements such as multiple shared dashboards, synchronizations, modeling and calculations, reporting, graphing and configuration documentation.

For more information, current PowerPlan customers should reach out to their PowerPlan representative and new customers can email info@powerpan.com.

About PowerPlan
For more than 25 years, PowerPlan has helped North American energy companies make the right financial decisions which improve lives and powers the world. Through our industry-leading expertise, innovative technology and vast experience listening to and working in tandem with our customers, PowerPlan software sets the standard that CFOs can count on for financial clarity for energy organizations of all sizes. For more information, email info@powerplan.com or visit www.powerplan.com.

For more information, contact:
pr@powerplan.com