Thanks to the budget in ReFIS, we have an accurate overview of costs and can achieve profit.
Client:
COM-therm is a producer and supplier of heat and hot utility water, and operator of distribution networks. It operates in Komárno, where it runs nineteen heat sources, nineteen transfer stations and an extensive city heat network.
Product:
Precise tracking of variable and fixed costs and comparison with the budget.
Implementation goal:
The company's pricing is subject to approval by the Regulatory Office for Network Industries (URSO). Thorough cost and budget tracking is therefore crucial for the client.
Higher efficiency:
The Financial Director of COM-therm, Ing. Beáta Šušanská, sees the fundamental advantages of the ReFIS system in higher efficiency of the entire process. ReFIS enables replacing manual laborious filling of MS Excel spreadsheets with instant budget and cost tracking.
Precise cost tracking:
Given that COM-therm's pricing is determined by the Regulatory Office for Network Industries, detailed tracking of all cost items is essential for the company.
Real-time overview:
Before implementing ReFIS, COM-therm tracked its budget, costs and other financial indicators in a simple, laborious and overall not very efficient way. According to the Financial Director, they had spreadsheets in Excel that they filled with accounting data once a month.
Shortly after implementing ReFIS, the first positive effects were noticed not only by employees of the economic department, but also by other staff. Data is available in real time, continuously as individual invoices come in. They no longer have to wait until the end of the month to get data from the MS Excel spreadsheet on budget utilization.
A tool for achieving profit:
If COM-therm did not track its eligible costs during the year, it could even happen that it would not achieve the permitted profit, and the result could even be a loss.
Client:
COM-therm is a producer and supplier of heat and hot utility water, and operator of distribution networks. It operates in Komárno, where it runs nineteen heat sources, nineteen transfer stations and an extensive city heat network.
Product:
Precise tracking of variable and fixed costs and comparison with the budget.
Implementation goal:
The company's pricing is subject to approval by the Regulatory Office for Network Industries (URSO). Thorough cost and budget tracking is therefore crucial for the client.
"Our pricing follows URSO rules, which sets our variable costs as well as fixed costs. In ReFIS, we track the budget and its fulfillment for our eligible fixed costs, as well as any ineligible costs that cannot enter into pricing"
"Our actual price of heat and hot utility water could end up being higher than the price approved by URSO. However, no one would reimburse us for the difference, since we can only invoice the approved price and no additional costs on top"
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