September 2010, San Ramon, California. HPC America, Inc. announced today that its enterprise application Utility Financials Accelerator (UFA) achieved SAP certification as powered by the SAP NetWeaver® technology platform. HPC UFA integrates with SAP® solutions to help utility companies address today’s more stringent regulatory reporting standards, and provides management with increased audit transparency and rate case support.
The certified integration greatly simplifies the process that utilities must undertake to translate their GAAP balance sheets and income statements into the formats required by regulators such as FERC, RUS, NARUC, and other agencies. HPC UFA specifically impacts the “Record to Report” function in the SAP® Regulatory Reporting module (also referred to as the IS-U/FERC module). After GAAP accounts are closed, UFA recasts a utility’s financials in the regulatory terms necessary for successful audits, data requests, and ratemaking.
“In the last 15 years, the volume and type of data that utilities must record for regulatory reporting has increased tremendously, resulting in the creation of homegrown solutions that bypass SAP and preclude its integration benefits,” said Jerry Cavalieri, HPC America CEO and the co-creator of the original technology in the IS-U/FERC module. “HPC Utility Financials Accelerator integrated with SAP solutions not only increases the efficiency and accuracy of reporting processes from within SAP, but also provides deep analytical tools that tell management exactly how the utility is utilizing its resources at every level of the operation.”
HPC UFA’s key benefits include a more accurate trace each month by vastly reducing trace errors; faster month-end closing cycles; real-time access to earnings and other critical data via an interactive drill-down P&L; automated natural account translation with powerful table maintenance ABAPs; and the easy reallocation of costs (post CO allocations) while maintaining compliance through financial, accounting, and regulatory views.
Utility Financials Accelerator leverages the SAP infrastructure and training in which utilities have already invested by integrating seamlessly with the Regulatory Reporting module using native ABAP. It is built on the SAP NetWeaver stack, loaded onto the development client (DEV), and transported to quality assurance (QAS) and production (PRD) using routine change management processes by the Basis team.
HPC UFA is in operation at FirstEnergy, Sharyland Utilities, Pepco Holdings, Rochester Public Utilities, Navajo Tribal Utility Authority, Arizona Electric Power Cooperative, Trans Bay Cable, and other utilities. Learn more about its real world results.