Reconciling with Automated Controls
At one of the largest utility companies in Pennsylvania, they use Income Tax data for financial forecasts and regulatory filings. This data comes from multiple systems. Inaccurate data causes the forecast and regulatory filings to be off in some cases, but without confidence in all cases. Additionally, the ability to get accurate analysis about which assets have the greatest impact on financial performance was challenging.
What ASI Solved
ASI serves two primary, related functions. First, the Income Tax data that is utilized to feed financial forecasts and regulatory filings is validated across multiple systems. This allows the Income Tax Department to quickly ensure that the data utilized in forecast and regulatory analysis – the primary “Business Intelligence” that drives future revenue – is correct. Secondly, ASI provides the analysis that provides detail at an asset-by-asset level about which assets have (or will have) the greatest impact on financial performance.
Data is now reconciled through a series of automated controls that identify where data issues exist so that they can be corrected, resulting in nearly perfect information being provided for the financial analysis.