Salt River Project (SRP) is a community-based not-for-profit utility that provides reliable, affordable water and power to more than two million people in central Arizona. SRP has provided these essential resources for more than a century to meet the needs of customers and help the region grow. SRP has been on SAP since 2013, and currently runs SAP ECC 6.0 on Suite on HANA and BW on HANA.
In anticipation of its migration to SAP S/4HANA in 2023, Salt River Project engaged HPC America to evaluate its current SAP Financials processes and results, and to identify areas for improvement that would not only deliver immediate benefits, but also streamline the utility’s eventual transition to S/4HANA.
Download the full case study about SRP’s successful simplification of FERC and improved readiness for SAP S/4HANA.
One particular area for improvement the team identified was around SRP’s FERC data: it was hard to understand and tie back to participation billing, and did not fully support audit and pricing processes. The data required for external audiences did not reconcile to the operational data used to create internal financial statements, and, as experienced by many utilities running the standard FERC module, the differences were difficult, if not impossible, to explain.
After the assessment, SRP engaged HPC to optimize its FERC model with HPC Utility Financials Accelerator (UFA) add-on software. HPC UFA eliminates the FERC module’s limitations, and runs on both SAP ECC and SAP S/4HANA. Five months later, SRP was ready to go live with its new FERC design. The project achieved all intended objectives and more: SRP’s balances by FERC account now match exactly—to the penny—its reports by order number, WBS element, cost element, and cost center, thereby making functionalized data far more intuitive for users to analyze. Read about even more benefits SRP now enjoys.
Bigger picture, SRP’s optimization of FERC on ECC with HPC UFA has longer-term benefits: SRP’s financials in SAP ECC now resemble very closely what they will look like in S/4HANA’s Universal Journal. As such, SRP will experience much greater financial data consistency years before it moves to SAP S/4HANA.
Get the full Salt River Project case study to learn more about SRP’s successful simplification of FERC reporting on SAP and increased readiness for SAP S/4HANA.