March 7, 2022
Utegration Finance4U® Extended Asset Accounting Solution Now Available on SAP® Store
Houston, TX - March 7, 2022 - Utegration, LLC today announced that the latest release of its SAP-certified solution, Finance4U® Extended Asset Accounting (EAA) solution is now available on SAP® Store, the online marketplace for SAP and partner offerings.
As a certified add-on to SAP S/4HANA®, Finance4U EAA enhances SAP’s standard fixed asset module to handle the unique capitalization, group depreciation, and retirement processes for asset-intensive industries, compliant to the accounting requirements from regulatory agencies such as FERC (Federal Energy Regulatory Commission), FCC (Federal Communication Commission), and NARUC (National Association of Regulatory Commissioners). This version of Finance4U Extended Asset Accounting has been licensed at both regulated and non-regulated utilities in North America to address asset accounting regulatory requirements.
“With Finance4U Extended Asset Accounting, customers will be delighted to find the core SAP ERP system is now fully capable of handling crucial processes like Retirement Unit-based capitalization process, group depreciation, and regulated asset retirement and more,” said Kai Bi, managing director of product development at Utegration. “Most importantly, it greatly increases customers’ return on their investment in SAP S/4HANA by simplifying the system landscape, reducing data replication and reconciliation, increasing transparency, and perhaps best of all, automating and simplifying the work for asset accountants, so that they can focus more on analysis, control, and decision making.”
Asset-intensive industries, such as utilities, energy, telecommunications, and railways benefit from this solution through:
- Automation of the asset capitalization process
- Increased transparency on asset balances and cost components of capital expenditure
- Enable early depreciation through CCNC (Construction Completed Not Classified)
- Ensured compliance with regulations and new accounting standards, such as ASC 842 (lease accounting)
- Increased efficiency on daily operations and month-end close
- Rich analytics to support depreciation studies and rate case filings
- Elimination of third party, standalone fixed asset systems, reducing Total Cost of Ownership (TCO)
SAP Store, found at store.sap.com, delivers a simplified and connected digital customer experience for finding, trying, buying and renewing more than 1,800 solutions from SAP and its partners. There, customers can find the SAP solutions and SAP-validated solutions they need to grow their business. And for each purchase made through SAP Store, SAP will plant a tree.
Utegration, LLC is a partner in the SAP PartnerEdge® program. The SAP PartnerEdge program provides the enablement tools, benefits and support to facilitate building high-quality, disruptive applications focused on specific business needs – quickly and cost effectively. Through this partnership, Utegration is provided support to create and deliver solutions that maximize clients’ investments in SAP technology.
Utegration, an SAP partner and Top Workplace USA 2022, is a Houston-based, full-service consulting and solution provider specializing in analytics and SAP technology for the utilities industry. Our industry experts have earned the trust of electric, gas, water and wastewater utilities across North America with our outcome-driven solutions and a track record of successful implementations. We develop and optimize new technology for finance, customer management experience and asset operations to maximize our clients’ return on investment, while minimizing risk and complexity. Before you implement new technology, talk to Utegration. See how we can make the future work for you. Learn more at www.utegration.com
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