Case Study: One Large Energy Utility improves FP&A analysis and reporting with Workiva

One Large Energy Utility boosts FP&A collaboration for 50+ cities with Workiva

The customer, one large energy utility, faced significant challenges in its financial planning and analysis (FP&A) process due to a disconnected and inflexible business intelligence platform. This system was slow to update, limited the number of users who could work simultaneously, and left analysts with little time for valuable data analysis, forcing a trade-off between meeting deadlines and ensuring quality. The utility turned to Workiva, leveraging its platform for financial close and SEC reporting.

Workiva provided a connected platform that integrated data management, analytical, and reporting tools. The solution's easy-to-use interface, which functions similarly to Excel, allowed an unlimited number of users to work on reports simultaneously without needing advanced programming skills. This eliminated system crashes during peak usage and gave the utility increased control over data and documents. As a result, the company significantly reduced time spent on document management, freeing its finance team to dedicate more hours to higher-value analysis and ensuring greater trust in the accuracy of its reports.