1. PowerPlan launches Provision NXT, enhancing financial software for tax departments. 2. Provision NXT automates tasks, focusing on ASC 740 and ASC 980 calculations. 3. 61% of tax professionals struggle with manual reconciliations affecting efficiency. 4. Quarterly updates ensure quick adaptation to tax legislation changes. 5. Provision NXT is now available, improving operational capabilities for tax teams.
FAQ
Why Bullish?
The launch of Provision NXT signals innovative capabilities that can improve profitability. Historical trends show tech improvements often lead to increased market confidence and stock price in vendors.
How important is it?
The announcement directly relates to ROP's subsidiary, suggesting potential revenue growth and market stability.
Why Long Term?
As PowerPlan continues to evolve its offerings, ROP's long-term growth should benefit. Innovations like Provision NXT could lead to sustained client retention and expansion.
PowerPlan Launches Provision NXT: A New Era in Tax Provision Software
ATLANTA, Dec. 17, 2025 (GLOBE NEWSWIRE) -- PowerPlan, a leading provider of financial software solutions for energy companies, has announced the general availability of Provision NXT, its innovative SaaS solution designed to streamline income tax provision management. This next-generation software revolutionizes the handling of complex ASC 740 and ASC 980 calculations by automating manual reconciliations and delivering continuous updates through a modern cloud architecture. With over 25 years of experience, PowerPlan aims to tackle the operational challenges that tax professionals face today.
Transforming Tax Management with Automation and Integration
Provision NXT is poised to address the pressing needs of tax departments struggling with outdated systems. According to PowerPlan's research, 61% of tax professionals cite manual reconciliations as their most significant challenge during close cycles, with another 60% identifying the automation of repetitive tasks as a vital improvement to their provision process.
Key Features of Provision NXT
- Unified Architecture: Provision NXT operates on the same platform as PowerPlan's Tax Fixed Assets (TFA) solution, enabling direct data integration and eliminating time-consuming manual reconciliations.
- Enhanced Data Access: Tax teams gain unprecedented access to provision data, supporting analysis, scenario modeling, and variance explanations.
- User-Friendly Interface: Customers have rated the redesigned interface of Provision NXT a perfect "10 out of 10" for intuitiveness.
- Frequent Updates: The platform adopts a quarterly release cycle for functionality enhancements and compliance updates, fostering agility in changing regulatory environments.
Empowering Tax Professionals for Strategic Work
“Tax departments today face pressures that legacy systems simply weren't designed to handle,” stated Raphael Shure, CEO of PowerPlan. “Provision NXT delivers the proven capabilities our customers have relied on for decades, reimagined for the speed, flexibility, and data access modern tax teams require.” Through this solution, tax professionals can redirect their focus from manual tasks to strategic decision-making and analysis.
Continuous Innovation to Meet Regulatory Changes
With its modern SaaS structure, Provision NXT allows tax departments to easily adapt to new tax legislations or FASB guidance without the burden of lengthy upgrade projects. This adaptability is essential for maintaining operational efficiency in a fast-paced regulatory landscape.
Developed by Experts, for Experts
Provision NXT is the outcome of collaboration among tax professionals averaging over 15 years of experience in income tax, ensuring that the software addresses real challenges faced by tax departments. This user-centric approach underscores PowerPlan's commitment to fostering meaningful solutions.
Availability and Future Developments
Provision NXT is now available and joins TFA as part of PowerPlan's extensive tax solution suite on the NXT platform. In early 2026, PowerPlan plans to launch additional products for accounting, tax, and regulatory compliance as SaaS solutions on this platform, offering existing on-premises customers full functional parity with cloud capabilities.
About PowerPlan
For over 30 years, PowerPlan has empowered utility and energy companies to make informed financial decisions that enhance lives and contribute to global energy needs. As an independent subsidiary of Roper Technologies (NASDAQ: ROP), PowerPlan continues to set the industry standard for financial clarity and innovation in technology. For more information and to request a demonstration of Provision NXT, visit www.powerplan.com/provision-nxt.