PowerPlan Launches Tax Fixed Assets (TFA) Solution to Drive Compliance and Cloud Transformation in the Energy Industry

Atlanta — December 7, 2022 — PowerPlan, Inc., a leading provider of financial software and solutions for the energy industry, today announced the launch of its latest SaaS technology solutionTax Fixed Assets (TFA). TFA is PowerPlan's next-generation income tax depreciation and deferred tax solution, designed specifically for the stringent reporting requirements that utility and energy companies face in meeting regulatory standards and business planning.

TFA offers a modern user experience with streamlined workflows, time-saving data validation, and curated insights to help users quickly access key information.

"We are thrilled to bring this next-generation tax solution to the utility and energy industry," said Joe Gomes, CEO of PowerPlan. "Tax Fixed Assets builds on the strengths of our first-generation tax solution, PowerTax, and incorporates powerful new features that tax teams need to support their organization's data strategy, compliance reporting, and overall financial performance. This product is a direct reflection of PowerPlan's ongoing commitment to innovation, and we are focused on providing our customers with tailored, industry-specific solutions that give them flexibility and confidence as they migrate critical enterprise software systems to the cloud."

TFA is deployed as a SaaS (Software-as-a-Service) solution and can seamlessly integrate with PowerPlan's Asset and Project Accounting systems, whether hosted on-premises or in the cloud, providing users with immediate, actionable, and reliable data insights. The software consolidates core tax functions related to fixed assets, including:

• Book-to-tax reconciliation
• Tax depreciation and gain/loss calculations
• Retirement cost and salvage value requirements
• Bonus depreciation
• Fixed asset deferred taxes

These granular data points help tax departments easily manage multiple books of record, increase efficiency, reduce compliance and business risk, identify more tax savings opportunities, and optimize cash flow.

"The release of PowerPlan Tax Fixed Assets (TFA) underscores the company's ongoing commitment to innovation," said Suzanne Ward, Senior Vice President of Product Management and Marketing at PowerPlan. "This exciting cloud-based software will be a game-changer for tax departments in the energy industry, enabling them to leverage detailed data to manage the tax function more efficiently and strategically. As a tax depreciation and deferred tax solution, TFA gives customers control over their financial processes, trust in their data, and confidence in the results. It also fills a critical gap that ERP systems alone cannot fill."

Today's release of TFA is the result of months of user-driven development and testing, combined with strategic market analysis, to deliver a truly differentiated solution to customers and the market. Its key features include:

• Clear, immediate visibility into critical task status with visual cues and an intuitive user experience at every step.
• Detailed and summary views of all tax activities, providing quick insight into calculation results with the ability to seamlessly drill down as needed.
• Automatic identification and remediation of data integrity issues before processing, saving teams time and giving stakeholders confidence in the results.
• Easily accessible standard reports that clearly identify the most critical information.
• Advanced case functionality and scenario modeling provide complete visibility to support optimized tax strategies, helping maximize deductions and improve cash flow.
• In-app prompts and a knowledge base make onboarding easy for new users and ensure online help content is always available.
• Frequent SaaS releases deliver updates quickly and efficiently to meet the latest tax regulations and tax reform requirements.

For more information, please visit our website:https://powerplan.com/solutions/tax-fixed-asset, or email us at:[email protected]。

About PowerPlan

For over 25 years, PowerPlan has helped utility and energy companies in North America make the right financial decisions that improve lives and power the world. With industry-leading expertise, innovative technology, and a rich history of listening to and working alongside customers, PowerPlan software sets the standard for financial clarity that CFOs can trust, for utilities of all sizes. PowerPlan operates as an independent subsidiary of Roper Technologies (NYSE: ROP). For more information, please email[email protected]or visit www.powerplan.com.