ATLANTA, March 12, 2024 (GLOBE NEWSWIRE) -- Summit Utilities, a leading natural gas utility company, has completed a strategic collaboration with software and consulting firm Lucasys to implement advanced tax fixed asset software. The decision to transition from previously implemented software solutions was prompted by Summit Utilities’ proactive approach to restructure its asset accounting operations and move away from PowerPlan solutions. Lucasys emerged as a trusted partner to guide Summit Utilities through this critical transition and beyond.
The cornerstone of this collaboration is the implementation of the Lucasys software platform, a robust tax fixed asset software solution developed by Lucasys. Summit Utilities opted for Lucasys to replace PowerTax, leveraging its advanced features and capabilities to meet their evolving needs.
"The transition to Lucasys Tax has been instrumental in streamlining our tax fixed asset processes. The expertise and support provided by Lucasys have exceeded our expectations, positioning us for greater efficiency and effectiveness in our operations."
-Paul Schulte, Senior Tax Manager at Summit Utilities
Lucasys has been instrumental in facilitating a smooth transition for Summit Utilities. Leveraging their deep domain expertise in utilities, Lucasys seamlessly converted tax fixed asset data from PowerTax as well as acquired assets previously tracked in SAP, ensuring continuity and accuracy throughout the process. Lucasys Tax will now serve as a unified repository for tax fixed asset data, streamlining operations and providing a consolidated view of financial information.
"At Lucasys, we are dedicated to empowering utilities to navigate complex challenges with confidence. Our collaboration with Summit Utilities exemplifies our commitment to delivering innovative solutions and comprehensive support, enabling our clients to thrive in a rapidly evolving landscape."
- Jarrett Skov, Director of Product and Services at Lucasys
Together with Lucasys’ partner Utegration, Summit Utilities has also implemented Utegration’s Finance4U Extended Asset Accounting (EAA) solution, an industry-specific solution built on SAP’s S/4HANA platform. Lucasys’ partnership with Utegration further strengthens the value proposition for Summit Utilities by providing an end-to-end accounting and tax solution.
In addition to offering advanced software solutions, Lucasys provides comprehensive advisory and consulting services tailored to meet the unique needs of utilities. From data cleansing and preparation to ongoing support and staff augmentation services, Lucasys empowers utilities to optimize their tax fixed asset processes and maximize operational efficiency.
The demonstrated success of Summit Utilities’ tax fixed asset transformation underscores Lucasys' commitment to empowering utilities with innovative solutions and unparalleled support, reaffirming its position as a trusted partner in driving organizational success and growth.
To read more about the collaboration between Lucasys and Summit Utilities, click here.
About Lucasys
Lucasys delivers software and technology-enabled services to empower finance, accounting, and tax professionals in asset-intensive industries to optimize the financial performance of their fixed assets and proactively meet changing regulatory and compliance requirements. With a core focus on rate-regulated utilities, Lucasys provides the industry and domain expertise utilities require to meet their business objectives. To learn more about Lucasys, visit https://www.lucasys.com or follow us on LinkedIn.
About Summit Utilities
Summit Utilities is the natural gas energy provider to 525,000 families and businesses throughout Arkansas, Oklahoma, and the Texarkana, Texas area, where they operate 17,000 miles of gas main pipeline with the goal of providing safe, clean, and reliable natural gas to their service areas through exceptional customer care and an unwavering commitment to community.
Summit Utilities is part of a family of utility companies owned and operated by Summit Utilities, Inc. Collectively, the company serves over 625,000 customers and operates more than 23,400 miles of pipeline in six states. Summit is resilient, agile, inclusive, and deeply committed to its people, communities, and building a sustainable energy future. Summit is proud to be serving your community now, and for years to come. For more information, visit https://www.summitutilities.com.
