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Ecogy Energy Streamlines Multi-Entity Accounting

See how Softledger played a pivotal role in facilitating the optimization of Ecogy Energy's payables approval processes, paving the way for enhanced efficiency and seamlessness.

Moreover, it empowered its stakeholders with a user-friendly interface, enabling them to effortlessly track and evaluate the organization's multi-entity accounting procedures.

About Ecogy Energy

Ecogy Energy is an energy service provider, established in 2010, that develops sustainable energy resources throughout North America.

Dedicated to staying at the cutting edge of the industry, Ecogy Energy is also passionate about reducing energy consumption. They are rapidly expanding and focused on establishing community solar farms throughout North America to create a real impact on energy consumption and climate change.

The Problem

As Ecogy Energy expanded and developed different solar utilities, it became extremely difficult to coordinate the accounting for each separate LLC. Their structure and growth had gotten to a place where it was at odds with their current platform's 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.

What they needed was 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 easily updated and reviewed.

Ownership was also dissatisfied with their existing service due to its difficulty to examine accounts payable and inefficiencies in requesting account reviews for each LLC.

The SoftLedger Solution

The initial benefit of Ecogy Energy's switch to SoftLedger was the software's multi-entity functionality that allowed each separate LLC to be in one place, with a standardized chart of accounts.

Each account in SoftLedger could either be viewed separately or collectively, as needed. Similarly, SoftLedger’s rolled-up pricing model was also a good fit for Ecogy Energy. They were able to expand and create additional accounts without increased service fees.

"

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
Having everything on one page also made Ecogy’s ownership happy because they can now easily review the accounts themselves, on-demand, and without having to first request access.

SoftLedger's sophisticated cloud accounting software has allowed them to clean up and streamline their payables approval processes, and now facilitates the easy monitoring and reviewing of the company’s cash flow.

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Frequently Asked Questions

Yes, users have the option to use their own chart of accounts or SoftLedger’s standard chart of accounts when getting started with SoftLedger.  SoftLedger’s flexibility allows users to make changes to their charts by easily adding new accounts.

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