Renewable Energy Providers
Foundation offers competitive advantage in the renewable energy sector through professional financial management and project accounting.
Do you need to gain advantage in the increasingly competitive renewable energy marketplace by managing large and complex capital projects on time and on budget, often working with third parties as part of a joint venture?
As the demand for energy consumption continues to grow, there can be little doubt that renewable energy will become established as one of the world’s predominant industrial sectors. At Foundation Systems, we understand that you need not only to meet the demands of industry regulators but also to satisfy your customers’ desire for ‘green’ energy. As a result, you need to continually strive to reduce costs and improve efficiencies, using every advantage that today’s innovative technologies can provide.
The challenge
The Government’s Renewable Energy Obligation has provided both a challenge and an opportunity for both traditional non-renewable energy providers, who are now having to consider renewable energy strategies, and for new companies who are looking to enter the utilities market without the inherent advantage of an existing energy provision framework.
Whichever category you fall in to, the appropriate use of reliable and cost-effective software can deliver dramatically improved efficiency, enabling you to gain competitive advantage in this rapidly developing market sector.
Project accounting is key
When managing the type of large capital projects that this sector typically becomes involved in, particularly those where joint ventures are involved, successful project accounting is vital. Pitfalls such as poor resource allocation and long billing cycles, or ending up with high levels of incorrectly allocated funding which has to be written off, must be avoided.
Preventing costly time and budget overruns can only be achieved through visibility of information, making a reliable project accounting system essential. This enables the effective planning of projects and resources, whilst also offering efficient time and expenses management and billing, all of which will drive revenue recovery and improve utilisation.
Joint venture accounting
With joint-venture projects especially, third parties will want visibility of project detail in order to provide required levels of funding throughout the project – and the inability to recover costs from a third party within an acceptable timescale can seriously jeopardise the potential success of a project. Being able to provide the necessary level of financial reporting and analysis is key in securing the recovery of those third party funds.
If you would like to speak to one of our industry experts please contact Foundation Systems
