The decades-old CIS/billing platform used by the client lacked the functionality to offer a better digital experience to customers and adapt to new requirements from regulators. It also limited the company’s ability to offer new services—including renewable energy options, charging for electric cars, and energy management and monitoring—in a fast-changing market. And behind the scenes, existing on-premise software solutions led to higher operating costs and greater exposure to compliance and risk issues.
A company held back by outdated legacy systems
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Future
Replace aging applications that differed across divisions and subsidiaries
Reduce manual, disparate processes freeing up more resources for advanced analytics
Enable enhanced reporting and make it more widely available across the enterprise
Act with greater speed and agility to capture value in acquisitions
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Company-wide
opportunities
Process hundreds of thousands of transactions per month with greater efficiency
Reduce 10,000+ manual journal entries per period
Decrease >3-week close
Shorten the >3-month annual budgeting cycle
Provide better support for a growing e-commerce business
Control rising finance function costs and derive greater value
Finance
opportunities
Reduce 10,000+ manual journal entries per period
Decrease >3-week close
Shorten the >3-month annual budgeting cycle
Provide better support for a growing e-commerce busines
Control rising finance function costs and derive greater value
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Improve technical capabilities to keep pace with increased hiring needs
Reduce dependence on IT and tech resources for supporting and enabling continuous compliance with more than 800 collective bargaining agreements
Unify and automate workforce administration processes across the enterprise
Eliminate the need for employees to learn new systems and interfaces as they move from recruitment to training to managing benefit
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HR
opportunities
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Future
After
By offering users an improved online experience for paying bills, selecting plans, and getting updates on potential power outages, the client has quickly become a leader in an industry known for old technology and limited customer service.
The successful launch of the new CIS and billing platform to millions of customers in early 2021 speaks to our role delivering quality assurance services for the project overall. And within the project, our risk team helped the client achieve their security and control objectives, establishing a risk and controls program that balances business process enablement with the need to protect the integrity of each function as well as addressing compliance requirements.
A better customer experience, plus better security and controls
Developed all the necessary processes to support a single, modernized digital platform serving the entire enterprise
Migrated 290,000 employees from legacy systems to Oracle Cloud
Increased insight-driven decision making across functions, driving performance and growth gains
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Company-wide
success
Decreased balance sheet reconciliations
by 85%
Achieved a consolidated retail and
corporate close within a shortened period
Reduced the types of P&L statements from 100+ to 4
Reduced operations costs across the board
Enhanced availability of data-driven insights that help to capture maximum value during acquisitions
Achieved a consolidated retail and corporate close within a shortened period
Reduced the types of P&L statements from 100+ to 4
Reduced operations costs
across the board
Enhanced availability of data-driven insights that help to capture maximum value during acquisitions
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Finance
successes
HR
successes
Deployed a custom application for union-rule processing enabling a single HCM platform to administer benefits to all employee populations under 800+ complex union agreements
Created a digital-first, digital anywhere experience resulting in higher employee engagement
Reduced new-hire onboarding time
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Reduced new hire onboarding time
Streamlined and improved the process integration of new employees post-acquisition
Integrate processes and technology across the employee lifecycle from recruiting through compensation and performance
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Thanks to upgraded structures and technologies, the client is better positioned to add new services, rate structures, and billing options based on changing customer expectations.
In terms of security and controls, the client is better prepared to adapt and comply with evolving changes in a dynamic energy market.
Continue to enhance analytics-driven planning and forecasting
Optimize the supply chain
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Company-wide
vision
Achieve a continuous, virtual accounting close
Achieved a consolidated retail and corporate close within a shortened period
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Finance
vision
HR
vision
Establish a continual feedback-and-improvement loop based on quarterly HR reports from the field and deployment of new capabilities
Migrate payroll, benefits, and absence management to Oracle cloud for 2023
Insource benefits administration
Ready for whatever comes next
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