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Utilities Accelerate Their Migration to PowerPlan's Next-Generation Tax Solution

1. PowerPlan signed its 20th customer for Tax Fixed Assets (TFA) solution. 2. TFA manages $500 billion in fixed assets for major utility companies. 3. TFA helps clients forecast tax strategies amid potential corporate tax changes. 4. PowerPlan enables seamless migration from PowerTax to TFA in 6-12 weeks. 5. Roper Technologies, ROP's parent, benefits from PowerPlan's expanding customer base.

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FAQ

Why Bullish?

PowerPlan's growth and customer base directly support ROP's expansion strategy, similar to past software integrations boosting revenue.

How important is it?

PowerPlan's milestone reflects positively on ROP's portfolio, reinforcing brand strength in the market.

Why Long Term?

Sustained growth in TFA users will contribute to ROP's long-term revenue, akin to previous successful product rollouts.

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ROP
ATLANTA, Jan. 29, 2025 (GLOBE NEWSWIRE) -- In a show of continued industry momentum, PowerPlan today announced it has signed the 20th customer to use its Tax Fixed Assets (TFA) product, the industry-leading cloud solution for tax depreciation and deferred tax processes. Currently in use by some of North America’s largest utilities, TFA enables organizations to manage processes efficiently, unlock insights from data, and confidently forecast tax strategies. This milestone represents a total of $500 billion in fixed assets that are accounted for with TFA, with industry leaders such as Duke Energy, Exelon, Oncor, and American Water choosing the solution for their tax needs. “TFA reimagines how tax professionals manage their work, with a forward-looking, easy-to-use product that simplifies complicated tax processes,” said Joe Gomes, CEO, PowerPlan. “In a period of uncertainty around corporate tax rate changes, our customers love TFA because it’s easy to forecast and quickly plan for multiple scenarios, helping drive accurate cost recovery.” With enterprise-grade security and support, backed by the industry’s largest utility-focused team who knows what it takes to securely deliver enterprise cloud software, TFA is designed to meet the evolving needs of today’s utility tax professionals. The next-generation income tax depreciation and deferred tax solution is purpose-built for the demanding reporting requirements that utility and energy companies face in meeting regulatory requirements and business planning. TFA provides a modernized user experience with streamlined workflows, time-saving data validations, and curated insights to surface vital information quickly.   When organizations choose to migrate to TFA from PowerTax, PowerPlan’s legacy on-premises tax solution, the project is completed in just 6-12 weeks. PowerPlan designed the move from PowerTax to be as efficient as possible, with minimal effort from the customer team beyond data validation and system training. For more information on Tax Fixed Assets, visit www.powerplan.com/tfa. About PowerPlan For more than 30 years, PowerPlan has helped utility and energy companies make the right financial decisions to improve lives and power the world. Through our industry-leading expertise, innovative technology, and vast experience listening to and working in tandem with our clients, PowerPlan software sets the standard that CFOs can count on for financial clarity. PowerPlan operates as an independent subsidiary of Roper Technologies (Nasdaq: ROP). For more information, visit www.powerplan.com.

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