Thanks to the budget in ReFIS we have an accurate overview of costs that allows us to achieve profit.
COM-therm swapped filling in Microsoft Excel by hand for instant tracking of its budget and costs.
COM-therm swapped filling in Microsoft Excel by hand for instant tracking of its budget and costs.
COM-therm is a producer and supplier of heat and domestic hot water, and an operator of distribution networks. It operates in Komárno, where it runs nineteen heat sources, nineteen heat transfer stations and the city's extensive heating network.
Accurate monitoring of variable and fixed costs and comparison with the budget.
The company's pricing is subject to approval by the Regulatory Office for Network Industries (ÚRSO). Rigorous monitoring of costs and the budget is therefore key for the client.
The Chief Financial Officer of COM-therm, Ing. Beáta Šušanská, sees the main advantages of the ReFIS system in the higher efficiency of the entire process. ReFIS makes it possible to replace laborious manual filling in of spreadsheets in MS Excel with instant monitoring of the budget and costs.
Given that the pricing of COM-therm is set by the Regulatory Office for Network Industries, detailed monitoring of all cost items is essential for the company.
“Our pricing follows the rules of ÚRSO, which sets both our variable costs and our fixed costs. In ReFIS we track the budget and how it is being met for our eligible fixed costs, as well as any ineligible costs that cannot be included in the pricing.”
Before ReFIS was introduced, COM-therm monitored its budget, costs and other financial indicators in a basic, laborious and overall not very efficient way. According to the Chief Financial Officer, they had spreadsheets in Excel which they filled with data from accounting once a month.
Shortly after ReFIS was introduced, the first benefits were noticed not only by the employees of the finance department, but by other staff as well. They have the data available in real time, continuously as the individual invoices come in. They no longer have to wait until the end of the month to get data on budget utilization from an MS Excel spreadsheet.
If COM-therm did not monitor its eligible costs during the year, it could even happen that it would not reach the permitted profit, and the result could even be a loss.
“Our actual price of heat and domestic hot water could end up being higher than the price approved by ÚRSO. But nobody would pay us the difference, since we may only invoice the approved price and no additional costs on top of it.”
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