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Ecogy Energy streamlines multi-entity accounting

About Ecogy Energy

Ecogy Energy is a “next generation utility” company established in 2010 that develops solar photovoltaic systems throughout North America. They are a young company focused on developing sustainable energy resources that are owned and operated by the company itself. The company is currently exploring all potential alternatives to the energy grid.

Ecogy Energy is dedicated to staying at the cutting edge of the industry while reducing energy consumption. They are rapidly expanding and focused on establishing community solar farms throughout North America in-order to create a real impact on energy consumption and climate change.

The Problem

As Ecogy Energy expanded and diversified its solar offerings, managing accountancy for each individual LLC became increasingly difficult. Their organization and development had reached a point where it was at odds with their current pricing model.

They were forced to establish separate accounts for each new LLC and pay for accounting services separately, which became expensive and time-consuming.

They needed a service-based accounting software platform with a flat-fee structure that would aggregate every separate LLC account into one place, allowing them to be readily updated and reviewed.

Ownership was also dissatisfied with their existing service due to its difficulty to examine accounts payable and inefficiency to request a look at each LLC’s accounts.

The SoftLedger Solution

Ecogy Energy’s initial switch to SoftLedger was beneficial on behalf of SoftLedger’s multiple entity functionality, allowing the holding companies for each of the LLC accounts to be at one place.

Each account in SoftLedger could either be viewed separately or collectively, as needed. Similarly, SoftLedger’s rolled-up pricing model also benefited Ecogy Energy. Due to the new provider, they were able to expand and create additional accounts without having to pay for additional services.

When asked how long it took to consolidate financials in the past, Clayton from Ecogy responded:

“It is a totally different story now. Running a consolidated financial statement with SoftLedger takes a few min-utes versus a week-long process with the old provider.”

Having everything on one page has also made Ecogy’s ownership happy because they can now easily review the accounts themselves on-demand without having to request it. It has allowed them to clean up their payables approval processes, streamlined approval and allowed ownership to easily monitor and review the company’s cash flow.

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It is a totally different story now. Running a consolidated financial statement with SoftLedger takes a few minutes versus a week-long process with the old provider.

Clayton Scherrer, CFO @ Ecogy Energy
Having everything on one page has also made Ecogy’s ownership happy because they can now easily review the accounts themselves on-demand without having to request it. It has allowed them to clean up their payables approval processes, streamlined approval and allowed ownership to easily monitor and review the company’s cash flow.

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