Hope Utilities Implements Lucasys Tax Fixed Asset Solution
2024年8月15日 - 2:14AM
Hope Utilities, a leading provider of US natural gas and water
distribution services, has completed a strategic engagement with
software and consulting firm Lucasys to implement its advanced tax
fixed asset solution, Lucasys Tax. The pivotal initiative is part
of Hope Utilities' ongoing commitment to leveraging advanced
technologies to optimize operational efficiency and accuracy in
financial reporting.
The collaboration was driven by Hope Utilities’ decision to
pursue a robust tax fixed asset software solution to facilitate
their evolving requirements as their utility network expands to new
markets. The implementation process included the conversion and
standardization of data resulting from several recent acquisitions
by Hope Utilities, including Peoples Gas in 2023.
"We are honored to support Hope Utilities in
their strategic journey toward enhancing operational efficiency and
financial accuracy. This successful implementation of Lucasys Tax
is a testament to the power of collaboration and innovation in
meeting the complex challenges of today’s utility industry. We look
forward to continuing our partnership with Hope Utilities as they
lead the way in adopting advanced technologies to serve their
customers more effectively." -Vadim Lantukh, Chief Executive
Officer at Lucasys
Leveraging their deep domain expertise in utilities, Lucasys
seamlessly converted tax fixed asset data from legacy system
PowerTax as well as acquired assets previously tracked in Excel,
ensuring continuity and accuracy throughout the process. Lucasys
Tax will now serve as a unified repository for tax fixed asset
data, streamlining operations and providing a consolidated view of
financial information.
"Working with Hope Utilities has been a very
rewarding experience and we are proud to support their mission to
deliver reliable utility services through cutting-edge technology.
Lucasys software is engineered to meet the unique needs of utility
companies, and we are confident it will provide substantial
benefits to Hope Utilities and their stakeholders."- Gabriel St
James, Director of Product and Services at Lucasys
Together with Lucasys partner Utegration, Hope Utilities has
also implemented Utegration’s Finance4U Extended Asset Accounting
(EAA) solution, an industry-specific solution built on SAP’s
S/4HANA platform. EAA replaces PowerPlan’s fixed asset modules and
enables Hope Utilities to leverage S/4HANA’s Universal Journal for
all asset accounting needs. Lucasys’ partnership with Utegration
further strengthens the value proposition for Hope Utilities by
providing an end-to-end accounting and tax solution.
In addition to offering advanced software solutions, Lucasys
provides comprehensive advisory and consulting services tailored to
meet the unique needs of utilities. From data cleansing and
preparation to ongoing support and staff augmentation services,
Lucasys empowers utilities to optimize their tax fixed asset
processes and maximize operational efficiency.
The successful implementation of Lucasys Tax marks a significant
milestone in Hope Utilities' journey towards digital transformation
and continuous improvement. This upgrade underscores the company's
dedication to adopting best-in-class technologies to better serve
their customers and streamline their internal processes.
To read more about the collaboration between Lucasys and Hope
Utilities, click here.
About Lucasys
Lucasys delivers software and technology-enabled services to
empower finance, accounting, and tax professionals in
asset-intensive industries to optimize the financial performance of
their fixed assets and proactively meet changing regulatory and
compliance requirements. With a core focus on rate-regulated
utilities, Lucasys provides the industry and domain expertise
utilities require to meet their business objectives. To learn more
about Lucasys, visit https://www.lucasys.com or follow us on
LinkedIn.
About Hope Utilities
Hope Utilities is a holding company that owns natural gas and
water distribution utilities across 9 states, providing service to
more than 227,000 residential, commercial, and industrial customers
in the communities they serve. Hope Utilities currently operates
natural gas utilities in Indiana, Maine, Montana, North Carolina,
Ohio, and West Virginia; and water and wastewater utilities in
Arizona, Michigan, and Texas. They also provide natural gas
production and natural gas marketing through subsidiary companies.
For more information, visit https://hopeutilities.com/.
LucasysContact: Thomas Ferguson, CMO,
Lucasys1-844-582-2797contact@lucasys.com