Transportation companies are at a crossroads; facing infrastructure that needs investment, stricter energy and environmental regulations and investors who demand better returns. These companies are looking for new ways to optimize financial performance.
Unfortunately, decision makers often struggle to get a clear picture of their organization’s reality including asset location, tax implications by jurisdiction and failure risk using traditional, disconnected systems. Fortunately, there’s a smarter solution.
Today, America’s leading transportation companies, count on PowerPlan for the detailed information stakeholders in accounting, tax, operations, IT and finance need to accurately track and monitor assets, make defensible asset plans, and ensure they are in compliance with all tax rules and regulations, across all jurisdictions.
Asset planners need to be able to justify their plans to internal and external stakeholders. PowerPlan captures and documents the business cases for both asset-based and needs-based projects, so you can develop defensible plans that optimize capital investments and meet the demands of all stakeholders.
Transportation companies can have assets spread across a large number of different tax jurisdictions. The challenge is, how do you track these assets in accordance with all the relevant tax laws? PowerPlan simplifies the process by detailing all the costs associated with an asset, helping ensure valuations are accurate and exempt items aren’t taxed. Whether you own assets or have complex lease agreements, PowerPlan provides the insights you need to leverage all available tax breaks and improve financial performance, by consolidating detailed information from every corner of your company on a single platform.
Stricter regulations require more diligent tracking of assets and costs. PowerPlan provides a complete view of your financial assets, giving you the accurate information and control you need to align with rules such as regional jurisdictions, and the FASB lease standards.
In 2014, the IRS shined a spotlight on what constitutes a deductible expense versus a capital improvement with the release of new tangible property regulations. As a result, transportation companies need to be more diligent in monitoring costs related to repairs, including costs within complex long-term service agreements. PowerPlan lets you track these details at a granular level, regardless of the type of service contract.