From Black Box to Out of the Box: NRG Transforms Finance for Simplicity and Efficiency

NRG Energy has prioritized driving operational efficiencies that will allow the company to make important and opportunistic investments for their future. Migrating to SAP S/4HANA as part of an overall business transformation plan played a critical role in their strategy. Key to their strategy’s success: achieving a level of simplification not possible before SAP S/4HANA, and certainly not possible with their legacy financial systems.

Driving simplicity and efficiency in the face of new and changing business and regulatory requirements from FASB, the SEC, PJM, ERCOT, and state and federal regulators including the new ASC 842 has historically been no small task. But NRG Energy implemented new add-on software that leverages the SAP Universal Journal in real time, providing everyone in finance with greater transparency and the ability to streamline the close process with fewer systems. For IT, the solution means eliminating external solutions that require additional hardware, interfaces, and maintenance that historically involved extensive financial and human resources to support.

After one year and millions of dollars saved, David Callen, SVP finance and accounting and chief accounting officer, says, “It works!” He adds, “What’s more, my property and lease accounting team is smiling all the time every day—even on Zoom.”

Key Takeaways:

• See how you can drive a leaner and more effective team in property and lease accounting.
• Discover how to optimize your IT landscape and reduce total cost of ownership (TCO).
• Hear how to eliminate the reconciliation process by using a SAP S/4HANA add-in for property and lease accounting.

Speakers

• David Callen, SVP Finance and Accounting and Chief Accounting Officer, NRG Energy
• Kim Hales, Senior Vice President, Information Technology, NRG Energy