Experiencing growing pains with your energy company’s legacy financial planning system? You’re not alone. In the upcoming webinar “Enabling Financial Transformation”, hosted by Spaulding Ridge; Travis Nels, Vice President of Global FP&A at AES; and Bruce Ensley, Project Director at Dominion Energy, will discuss how they overcame this same issue at their organizations.
“We were assuming a lot of process risk in that [legacy] approach and also risk around employee experience. It just wasn’t a lot of fun to be doing what we had to do,” said Nels.
Both Dominion Energy and AES struggled with legacy planning systems that relied on disparate processes and spreadsheets that required excessive consolidation within Excel. This ate up labor hours and morale and kept the companies behind the times. Both Nels and Ensley’s teams saw the need for change and sought technology partners that would help them achieve this transformation. What they found exceeded their expectations, leading them to a tool that integrated with their own cloud systems, and displayed cutting-edge planning capabilities beyond what was possible in legacy Excel-based systems.
According to Ensley, the main benefit for Dominion Energy was the integrative, holistic view the new system offered, allowing each team to access what was required while offering leadership the top-down insights they needed. Legacy systems that rely on Excel are often siloed by team, department or even asset. This is not an issue for an integrative digital solution.
Ensley also mentioned the importance of a phased approach in implementing the new system at an organization as large and segmented as Dominion Energy, and how much value Dominion Energy placed on their implementation partner’s ability to roll out the new system in a way that made sense for each part of the company.
Learn more about how Dominion Energy and AES achieved digital transformation, what net benefits they gained and how they achieved a smooth transition through the right advisory and implementation partner. Register for the “Enabling Financial Transformation” webinar today.