NRG Ener­gy has pri­or­i­tized dri­ving oper­a­tional effi­cien­cies that will allow the com­pa­ny to make impor­tant and oppor­tunis­tic invest­ments for their future. Migrat­ing to SAP S/4HANA as part of an over­all busi­ness trans­for­ma­tion plan played a crit­i­cal role in their strat­e­gy. Key to their strategy’s suc­cess: achiev­ing a lev­el of sim­pli­fi­ca­tion not pos­si­ble before SAP S/4HANA, and cer­tain­ly not pos­si­ble with their lega­cy finan­cial systems. 

Dri­ving sim­plic­i­ty and effi­cien­cy in the face of new and chang­ing busi­ness and reg­u­la­to­ry require­ments from FASB, the SEC, PJM, ERCOT, and state and fed­er­al reg­u­la­tors includ­ing the new ASC 842 has his­tor­i­cal­ly been no small task. But NRG Ener­gy imple­ment­ed new add-on soft­ware that lever­ages the SAP Uni­ver­sal Jour­nal in real time, pro­vid­ing every­one in finance with greater trans­paren­cy and the abil­i­ty to stream­line the close process with few­er sys­tems. For IT, the solu­tion means elim­i­nat­ing exter­nal solu­tions that require addi­tion­al hard­ware, inter­faces, and main­te­nance that his­tor­i­cal­ly involved exten­sive finan­cial and human resources to support. 

After one year and mil­lions of dol­lars saved, David Callen, SVP finance and account­ing and chief account­ing offi­cer, says, ​“It works!” He adds, ​“What’s more, my prop­er­ty and lease account­ing team is smil­ing all the time every day — even on Zoom.”

Key Take­aways:

• See how you can dri­ve a lean­er and more effec­tive team in prop­er­ty and lease accounting.
• Dis­cov­er how to opti­mize your IT land­scape and reduce total cost of own­er­ship (TCO).
• Hear how to elim­i­nate the rec­on­cil­i­a­tion process by using a SAP S/4HANA add-in for prop­er­ty and lease accounting.