Improving financial reporting through a new analysis model

In 2016, a UK electricity business had to prepare an annual Regulatory Reporting Pack to demonstrate the company’s performance against its agreed Capital Investment Plan. To do this, the customer needed to align the data for the financial year 2015-16 between its finance system (SAP) and its Asset Management business system (PIER).

The Enzen team worked closely with the customer to manage, integrate and co-ordinate complex financial reports. This included adding financial control disciplines like auditing, version control and change management. The Enzen team also managed reconciliation, including scope, design, resource planning, execution, assurance, close out and lessons learned. Finally, Enzen designed a customised model to reconcile the two sets of data within the timescales set by the customer.

The result was a transparent and detailed model that gave the customer a sustainable reporting mechanism to use as part of its business-as-usual processes. Thanks to the model, the customer could efficiently analyse, process and easily interpret information. Through integrated working and communication between different departments, the speed of query resolution and data consistency were also improved. And following the deployment of programme-wide project controls, the customer was able to access project status information, glean valuable insights, improve accountability, intervene earlier where necessary and maximise performance.