Faced with a complex, error-prone compliance process that risked costly delays and regulatory scrutiny, CenterPoint Energy sought a reliable solution. By adopting an innovative platform, they streamlined operations, ensured accuracy, and achieved seamless regulatory success.
CenterPoint Energy is a leading U.S. utility, powering millions of homes and businesses with electricity and natural gas. As part of its regulatory duties and to secure rate case recovery, the company must meet the Public Utility Commission’s (PUC) Schedule M requirements. This involves detailed cost tracking for major projects like substations, switching stations, and transmission lines, costing over $250,000.
This process isn’t just about checking boxes; it demands precision, thorough documentation, and flawless cost allocation to ensure the PUC approves cost recovery. CenterPoint needed a dependable, centralized system to tackle this high-stakes task with confidence.
Before KYRO, CenterPoint’s project cost data was a mess, scattered across finance, engineering, and construction teams who relied on Excel spreadsheets. With everyone working on their own versions and making independent updates, errors crept in easily. This disjointed setup risked inaccuracies, missing data, and inconsistencies that could jeopardize Schedule M compliance.
CenterPoint knew they had to eliminate these risks and streamline their approach.
1. Centralized Financial Data Management
KYRO became the single hub for all Schedule M cost tracking. It brought together data from finance, engineering, and project teams into one secure, real-time platform. Work orders, cost allocations, and supporting documents were now aligned and easily accessible, cutting out the chaos of scattered spreadsheets.
2. Automated Variance Detection
KYRO AI’s built-in analytics kept a constant eye on project costs, automatically flagging those that hit Schedule M thresholds. Real-time variance reports highlighted any discrepancies in cost allocations, giving teams a chance to fix issues well before submission deadlines.
3. Streamlined Regulatory Reporting
KYRO automated the creation of standardized cost summaries and supporting evidence required by the PUC. With version control and full audit trails, every report was accurate, compliant, and easy to trace, ensuring CenterPoint was always audit-ready.
4. Flexible Updates for Evolving Projects
When project scopes changed, KYRO AI made it simple to reclassify work orders and update cost categories on the fly. Finance, engineering, and compliance teams could collaborate in real time, keeping documentation up to date without the usual last-minute scramble.
By adopting KYRO, CenterPoint Energy replaced a fragmented, high-risk compliance process with a streamlined, transparent, and audit-ready workflow. The platform’s centralized data, automated variance tracking, and flexible reporting tools ensured regulatory filings were timely, accurate, and defensible. It also gave managers a quick overview of the project status.
For CenterPoint, KYRO turned a complex Schedule M requirement into a manageable, efficient, and compliance-ready process, building both operational efficiency and regulatory confidence thereby ensuring successful rate recovery.
Faced with a complex, error-prone compliance process that risked costly delays and regulatory scrutiny, CenterPoint Energy sought a reliable solution. By adopting an innovative platform, they streamlined operations, ensured accuracy, and achieved seamless regulatory success.
CenterPoint Energy is a leading U.S. utility, powering millions of homes and businesses with electricity and natural gas. As part of its regulatory duties and to secure rate case recovery, the company must meet the Public Utility Commission’s (PUC) Schedule M requirements. This involves detailed cost tracking for major projects like substations, switching stations, and transmission lines, costing over $250,000.
This process isn’t just about checking boxes; it demands precision, thorough documentation, and flawless cost allocation to ensure the PUC approves cost recovery. CenterPoint needed a dependable, centralized system to tackle this high-stakes task with confidence.
Before KYRO, CenterPoint’s project cost data was a mess, scattered across finance, engineering, and construction teams who relied on Excel spreadsheets. With everyone working on their own versions and making independent updates, errors crept in easily. This disjointed setup risked inaccuracies, missing data, and inconsistencies that could jeopardize Schedule M compliance.
CenterPoint knew they had to eliminate these risks and streamline their approach.
1. Centralized Financial Data Management
KYRO became the single hub for all Schedule M cost tracking. It brought together data from finance, engineering, and project teams into one secure, real-time platform. Work orders, cost allocations, and supporting documents were now aligned and easily accessible, cutting out the chaos of scattered spreadsheets.
2. Automated Variance Detection
KYRO AI’s built-in analytics kept a constant eye on project costs, automatically flagging those that hit Schedule M thresholds. Real-time variance reports highlighted any discrepancies in cost allocations, giving teams a chance to fix issues well before submission deadlines.
3. Streamlined Regulatory Reporting
KYRO automated the creation of standardized cost summaries and supporting evidence required by the PUC. With version control and full audit trails, every report was accurate, compliant, and easy to trace, ensuring CenterPoint was always audit-ready.
4. Flexible Updates for Evolving Projects
When project scopes changed, KYRO AI made it simple to reclassify work orders and update cost categories on the fly. Finance, engineering, and compliance teams could collaborate in real time, keeping documentation up to date without the usual last-minute scramble.
By adopting KYRO, CenterPoint Energy replaced a fragmented, high-risk compliance process with a streamlined, transparent, and audit-ready workflow. The platform’s centralized data, automated variance tracking, and flexible reporting tools ensured regulatory filings were timely, accurate, and defensible. It also gave managers a quick overview of the project status.
For CenterPoint, KYRO turned a complex Schedule M requirement into a manageable, efficient, and compliance-ready process, building both operational efficiency and regulatory confidence thereby ensuring successful rate recovery.