Case study
UGE trades manual consolidation for a more strategic finance role
Industry: Energy
Size: 200 Employees
Location: USA
Existing Software: Quickbooks, Microsoft Excel
3X REPORTING FREQUENCY
INCREASED TRANSPARENCY & ACCURACY
INCREASE JOB SATISFACTION
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
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