PowerPlan’s Regulatory Ledger, combined with the Workiva platform, empowers regulated utilities to file to the Federal Energy Regulatory Commission with efficiency and confidence. Gone are risky disparate spreadsheets and costly business processes involving multiple departments and inefficient use of personnel. Instead, manage and reconcile regulatory data systematically and transparently across multiple stakeholders with PowerPlan’s Regulatory Ledger. Then, easily share to Workiva to comply with FERC’s XBRL® filing requirements.
About the Alliance
The combination of purpose-built utility accounting solutions from PowerPlan and XBRL solutions from Workiva drives improvements and reduces risk in reporting processes. PowerPlan and Workiva offer a streamlined solution that removes manual effort and ensures compliance. Key benefits of the alliance include:
- Regulatory automation and efficiency
PowerPlan and Workiva in tandem provide a systematized solution to regulatory utilities’ XBRL compliance obligation. PowerPlan’s Regulatory Ledger translates granular asset data native to its Fixed Assets solution for regulatory consumption without manual intervention or siloed data visibility. Workiva consumes that regulatory data, so it can be tagged using FERC’s XBRL taxonomy.
- Off-book adjustment management
PowerPlan offers a reconciliation workspace to create, modify, and track regulatory adjustments over time, eliminating risky spreadsheet tracking and costly business processes.
- Dynamic reconciliation
PowerPlan augments reconciliations to the general ledger with other financial source systems to be a single source of truth before connecting to Workiva, seamlessly including adjustments and removing iterative balancing efforts to improve data clarity and confidence.