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5:16 min
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Eversource Energy,
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we are a Fortune 500
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and Standard & Poor's 500 energy company.
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We are the largest energy company in the
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Northeast, one of the 10 largest in the United States.
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So, a pretty big presence, certainly,
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countrywide. We are very committed
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to serving our four million electric, natural gas, and water customers.
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And I think Lauren mentioned, we are also very committed
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and have a lot of focus on environmental leadership.
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Our problem statement, and really what we were trying to solve with this Board implementation,
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was the result of a merger that took place in 2012.
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So, there were two large New England utilities, we merged,
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and while there was a lot of emphasis in, really rightly so,
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on implementing new accounting systems and general ledger
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systems and budgeting systems, what
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really fell by the wayside a little bit, and left us with a bit of a gap, was the
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ability to get financial results and we were focused primarily
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on expense budget results.
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Getting that in the hands of our business users company-wide.
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So again, it checked all the boxes.
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We thought it offered a nice financial reporting capability.
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Certainly that was just kind of the basis of what we were
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looking for.
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But it also had that graphic functionality.
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It also had kind of that newer, more modern interface, and dashboarding capabilities as well.
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So we thought that was going to be a big plus and generate some real
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interest in our business units.
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It also interfaced very well with financial systems, our existing financial systems,
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as well as Microsoft Office.
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And some of the packages we looked at didn't really have that close Microsoft Office
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integration, and if any of you are in finance, you know that you
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certainly can't pry Excel out of the hands of some of our finance
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department.
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It also met our response time requirements. I think I mentioned in a previous slide that
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we were looking to go into a
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lot of transactional detail.
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We wanted to make transactional detail available to those end users.
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So that was really a lot of data.
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It was actually, we now have about, I think it's over 200
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million rows of transaction level data.
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So really a lot of data. And what was very important to us
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was that the folks, when they wanted to click on that and get
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that transaction level, that they weren't waiting a long time to do that. That it
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was within a several second response time, you weren't waiting minutes to get a query to
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return.
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Such as happened in our accounting system,
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but then that's another story.
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So we actually rolled this out, we've got about 750 users right now
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and it's a very diverse end user population.
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It is anything from a financial analyst level to a cost center
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manager to a program director,
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project director,
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right up to the executive level.
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We have currently five primary capsules, or
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databases, with all the relevant security associated with that.
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We really do think that we have achieved all the
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benefits that we set out to do.
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We were able to really check all the boxes and
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really make our corporate-wide reporting more
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efficient, more pleasant for the end user.
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We've been very closely partnering with Board on a couple of enhancements
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that we really are quite excited about.
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And one of those are metrics and performance scorecards.
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So it actually, from the day we implemented in 2017, it actually
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was a long time vision and desire of our senior management
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for business, for our executives and our business users to be
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able to see their performance metrics hand
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in hand with their financial results.
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So those two, in the eyes of management, are very closely linked and there
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was a great desire to be able to provide that really in one system.
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And so this project is going to be starting up very soon.