September 27, 2023

Utegration Teams with Lucasys for Tax Accounting solutions integrated with Finance4U®

Strategic partnership offers utilities who must replace their legacy tax accounting solution by 2025 a choice in providers

Houston, TX – October 2, 2023 – Specifically designed and built for S/4HANA, Finance4U Extended Asset Accounting provides the required functionality to address comprehensive utility company asset accounting requirements.  

Now, many utility companies are being forced to change their legacy tax accounting software beginning in 2025. Utilities also want the flexibility to implement a tax accounting solution of their choosing.   

For this reason, Utegration has entered into a Strategic Teaming Agreement with Lucasys to offer an industry-leading tax solution for SAP utility customers. 

Lucasys, founded in 2018, is comprised of finance, tax, and technology experts that deliver state-of-the-art SaaS software for tax accounting and offer many years of utility tax expertise. 

Lucasys highlights: 

  • Born out of Federal tax reform and its impacts on the utility industry 
  • Recently recognized by Inc 5000 as one of the fastest growing private companies in the US 
  • Modern, enterprise tax software delivered by industry experts 
  • Over 100 years of collective experience in tax and technology for the energy and utility industries 

Partnered with Utegration, Lucasys will provide comprehensive tax solutions and tax application consulting for utility companies that choose to implement Finance4U Extended Asset Accounting inside S/4HANA.  

The partnership will help customers realize a: 

  • Full replacement for utilities’ legacy fixed asset accounting and income tax solutions 
  • Robust tax cost recovery and deferred income tax computing solution 
  • Configurable integration with Finance4U Extended Asset Accounting for SAP