Representatives from leading utility organizations discuss need for financial planning changes
Vancouver, BC, February 15, 2008 – CopperLeaf Technologies Inc., a leading provider of Asset Investment Planning (AIP) solutions, recently hosted its first annual customer conference the Investment Planning User Group (IPUG) on February 5-6th, 2008 in Vancouver. This conference, attended by executives from a number of thought leading electric utilities including Duke Energy and BC Hydro, focused on the planning and decision-making challenges plaguing asset-intensive organizations. The group concluded that change is needed within the industry to ensure electric infrastructure sustainability, rate stability and shareholder returns. The investment need of the asset base is driving change in budgeting, planning and decision making processes.
Having operated under tight cost controls since the early 80’s, many electric utilities have deferred replacement of their aging infrastructures and are now facing an unprecedented need to make capital investments? says Lynn Casey, CEO of CopperLeaf Technologies. This has presented a complex challenge for industry executives that current tools and business processes cannot address – how to plan major capital investments in consideration of resource constraints, the increasing demand for energy, shareholder confidence, service reliability, an aging workforce, and ever increasing regulatory requirements.
The CopperLeaf solution is an asset-centric approach designed to help customers identify the balance between life-cycle cost, risk and performance that stakeholders find acceptable. CopperLeaf’s ESP product is a multi-year, multi-user, web-based solution that allows comprehensive plans to be created and analyzed while avoiding the pitfalls inherent with managing organization-wide spreadsheets models for planning.
Our customers all face similar challenges in sustaining and enhancing performance says Casey. Traditional capital budgeting processes focus on rationalizing projects and activities down to a total that fits within a financial constraint for one to three fiscal periods. Furthermore, current budgeting and planning products focus on meeting the needs of finance functions and pay little attention to the asset lifecycle or operational constraints. The result is that budgets are disconnected from the life cycle needs of the asset base, increasing the likelihood of sub-optimal investment decisions, weak budget execution and weak performance management. Moving to a life-cycle AIP process facilitates optimizing the allocation of resources to achieve long and short-term performance objectives within financial and operational constraints and risk tolerances; thus driving value for each AIP stakeholder. CopperLeaf Technologies is committed to providing solutions founded on the needs of our customers and continuing to build features that help our customers achieve their short and long-term business objectives.”
About CopperLeaf Technologies
CopperLeaf Technologies Inc. provides leading Asset Investment Planning (AIP) solutions that enable asset intensive organizations to maximize the life cycle value of their assets. CopperLeaf provides thought leadership and the enabling technologies to improve the long-term performance of energy companies, utilities, transportation, government, and other asset intensive organizations. Its solutions are built on a base of extensive experience in strategy and business process consulting to asset-based organizations. CopperLeaf brings together the skills of management consultants and technology professionals who have assisted clients worldwide to implement best practices in finance, planning, engineering, asset management, and rate design. For more information visit www.copperleaf.com.
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