Case Study: Leading Seminole Electric Cooperative achieves faster month-end close and asset-accounting modernization with PowerPlan

Leading Seminole Electric Cooperative - Customer Case study

Seminole Electric Cooperative, a Tampa-based generation and transmission utility serving 1.8 million customers and nine member distribution cooperatives, needed to replace an aging, heavily customized project and asset accounting system that was nearing end-of-support and hindering financial reporting. After an RFP process, Seminole selected PowerPlan’s cloud solution (including Fixed Asset Accounting, Capital Planning, Project Cost Management, Property Tax and Income Tax modules) to deliver an out-of-the-box, utility-specific system.

PowerPlan implemented a cloud-based, utility-focused accounting platform that eliminated customizations, reduced IT burden, and connected project accounting with forecasting, depreciation and tax reporting. The deployment cut property accounting month-end close from 7–10 days to a few hours, tightened the asset structure (standardizing retirement units from 30,000 to 10,000 and reporting a 30% improvement), delivered a successful first cloud implementation, and provided stronger security and ongoing vendor support.