Summit Utilities Partners with Lucasys to Streamline Tax Fixed Assets
In a pivotal move towards operational efficiency and advanced technology adoption, leading natural gas company Summit Utilities has embarked on a transformative endeavor with premier software and consulting firm Lucasys to revolutionize their tax fixed asset software. After recognizing the challenge of maintaining legacy PowerPlan solutions, Summit Utilities seized the opportunity to streamline their accounting platforms and transform their business processes.
Summit Utilities' decision to transition to a new platform was driven by the desire for technological advancement and by the aspiration to modernize its fixed asset accounting infrastructure. The Lucasys software suite offers a seamless alternative, providing a robust platform for managing tax fixed asset data efficiently.
"The transition to Lucasys Tax has been instrumental in streamlining our tax fixed asset processes. The expertise and support provided by Lucasys have exceeded our expectations, positioning us for greater efficiency and effectiveness in our operations.”
-Paul Schulte, Senior Tax Manager at Summit Utilities
Leveraging its extensive industry knowledge of the utilities sector, Lucasys was able to ensure a seamless transition for Summit Utilities. By converting tax fixed asset data from PowerTax as well as acquired assets previously tracked in SAP, Lucasys provided continuity by generating a unified repository for tax fixed asset data while enhancing operational efficiency, offering Summit Utilities a consolidated view of their financial information.
Summit Utilities also engaged Lucasys partner Utegration to implement Utegration’s Finance4U Extended Asset Accounting (EAA) solution, an industry-specific solution built on SAP’s S/4HANA platform. This collaboration not only reinforces the strong partnership between Utegration and Lucasys but also demonstrates the interoperability and compatibility of their respective solutions.
"Lucasys is dedicated to empowering companies like Summit Utilities to navigate transitions with confidence. Our comprehensive suite of services, from software solutions to technology-enabled services, ensures that our customers are equipped for success."
-Jarrett Skov, Director of Product and Services at Lucasys
With the implementation of Lucasys software, Summit Utilities now has access to more advanced technology, enabling the company to leverage standardized data for informed decision-making and strategic planning. The partnership between Summit Utilities and Lucasys exemplifies the power of collaboration in navigating industry transitions and embracing innovation for future success.
In addition to modern software solutions, Lucasys provides utilities comprehensive services to ease the transition between platforms, including data cleansing and preparation services. For utilities wishing to extend their timeline for transitioning tax technology, Lucasys also provides resource augmentation and end-user support services for legacy software solutions. Additionally, the Lucasys solutions experts assist utilities in mapping business processes and defining business requirements for a formal Request for Proposal (RFP), helping them document internal processes and articulate the needs of their next tax fixed-asset system.
"The success of Summit Utilities' transition to Lucasys underscores our commitment to delivering innovative solutions that address the evolving needs of our clients. We are thrilled to see the positive impact of our collaboration with Summit Utilities, and we remain dedicated to continuing to work together on their journey towards operational excellence.”
-Vadim Lantukh, Co-Founder and CEO at Lucasys
As utilities nationwide grapple with the maintenance of legacy fixed asset solutions, Summit Utilities' partnership with Lucasys serves as a testament to the transformative power of proactive adaptation and strategic collaboration. With Lucasys by their side, Summit Utilities approached the transition with confidence, emerging stronger and better equipped to navigate the challenges of the future.
With access to more advanced technology and standardized data, Summit Utilities is well-positioned to capitalize on opportunities for strategic decision-making and operational optimization. The collaboration with Lucasys represents a significant milestone in Summit Utilities' journey towards achieving operational excellence and driving sustainable growth in the utility sector.
How Lucasys Can Help
As utilities evaluate their own technology roadmap, they know they can rely on Lucasys for cutting-edge software solutions. Whether looking for new software or trying to get the most value out of existing solutions, Lucasys can provide insights into the latest accounting and tax issues facing the utility industry. To learn more about how Lucasys can help, visit https://www.lucasys.com/solutions.