Scanpower transforms Financial Reporting with MAGIQ

Electricity distributor Scanpower in New Zealand’s North Island has transformed the delivery of its financial reporting and achieved considerable time-savings with MAGIQ Performance.

Scanpower transforms Financial Reporting with MAGIQ

Electricity distributor Scanpower in New Zealand’s North Island has transformed the delivery of its financial reporting and achieved considerable time-savings with MAGIQ Performance.  Reporting processes that previously took days, are now completed in a matter of minutes using the MAGIQ Performance Strategic Financial Management solution.

Scanpower LogoScanpower is a regional electricity distributor supplying power to 6,720 customers in the Tararua region, including Dannevirke, Woodville, Norsewood and the outlying rural areas.  The Company operates an electricity network covering a geographic area of 2,100km², with 875km of overhead and underground power lines.

MAGIQ Performance is a highly sophisticated and powerful suite of Strategic Financial Management software including Budgeting, Reporting, Financial and Strategic Planning applications. MAGIQ Performance sits across Scanpower’s finance system, the MYOB EXO application, to provide management with access to accurate and flexible financial reporting.

Scanpower’s decision to implement MAGIQ Performance was driven by extreme frustration with the complexity of reporting out of the core finance system, which was severely impacting the Finance team’s ability to support management’s business information requirements.

“We were relying on exporting the data and using a series of highly repetitive, manual spreadsheet based processes.  We simply didn’t have the level of flexibility we needed and it was taking us days to produce our monthly reports. Trying to produce an accurate trial balance was a complex and lengthy process that frankly shouldn’t be that difficult,” said Ben van der Spuy, Finance Manager, Scanpower.

Using MAGIQ Performance the Finance team is now easily meeting monthly and ad-hoc reporting requirements and providing managers from the CEO down with dramatically improved visibility of business information.

“MAGIQ Performance is very intuitive and flexible; we can easily set-up customised reports and change the data variables or the reporting hierarchy to meet specific needs.  It takes less than 2 minutes to update all of our reports; and publishing the data in visual, easily understood graphs, literally takes seconds,” he said.

“That’s what I call fantastic software – MAGIQ Performance really is magic,” said Ben.

Scanpower implemented MAGIQ in February 2016 and a MAGIQ Consultant spent two-days on site with Ben completing comprehensive user training.

“The MAGIQ customer service has been absolutely excellent and I can’t believe how easy it was to start using the software – it’s very intuitive and straightforward. The on-going support we receive is also excellent; if we have a question we send an email or call. The support team are always very helpful, they understand the business issue and we always get the answers we need within a reasonable timeframe,” said Ben.

“Scanpower is a complex Utility Company with multiple divisions. Our reporting systems need to be very flexible and MAGIQ Performance is definitely meeting that requirement.”

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