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Case study

UGE trades manual consolidation for a more strategic finance role

Industry: Energy

Size: 200 Employees

Location: USA

Existing Software: Quickbooks, Microsoft Excel

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3X REPORTING FREQUENCY

INCREASED TRANSPARENCY & ACCURACY

INCREASE JOB SATISFACTION

With Fluence, I’m able to spend more time looking at what’s behind the numbers, rather than producing them.

Jacqueline Chevalier, Controller, UGE

The Results

Automating manual consolidation allows UGE’s small finance team to be a more strategic partner to the business:

  • UGE can now produce consolidated financials monthly, making quarterly statements less of a time-consuming challenge
  • Finance staff can spend less time heads down doing the numbers

Finance is now able to deliver better results, faster, and be a better partner with the company’s business unit heads.

Jacqueline Chevalier, Controller, UGE

The Challenge

UGE’s business model was changing from building solar energy projects to ongoing operational ownership - from an income statement to a high growth, balance sheet driven company:

  • There was no central ERP, so UGE consolidated 13 entities with Quickbooks and Excel formulas
  • Consolidations, cash flows, FX translations and eliminations were all handled manually by one person - UGE’s corporate controller
The Solution

Fluence offered automation, integration and control to prevent errors and delays in UGE’s consolidation and reporting:

  • As the new business model ramped up, UGE needed to add new entities and map them to a single chart of accounts quickly
  • The ability to meld UGE’s three operating currencies through the consolidation process was particularly appealing

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