Stephen Ball
 
Senior Manager, External Reporting & Accounting Policy
Michelle Francis
 
Director,
Financial Reporting
Julie Girard
 
Manager, Accounting Services, Consolidation and Standardization
John Peellegoda
 
Treasurer
Daniel Packer
 
Specialist,
Financial Reporting

CASE STUDY corner

 

fortis re-defines data collection with workops

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Day-to-day work rarely slows down for an energy company like Fortis Inc. with utility operations throughout Canada, the United States and the Caribbean.

Financial Accountant, Chantelle Mugford, said it was once time-consuming for her team to manually collect, input, round, translate and analyze information from multiple subsidiaries and data sources for assembly of their financial statement notes and disclosures.  A few years ago, Fortis decided to transform their process by using the Workiva connected reporting and compliance platform to save hours on SEC and SEDAR reporting.

The challenge was finding time to free anyone from daily workloads in order to implement Wdesk Data Collection, so they could maximize the time savings and productivity gains of using the Workiva platform.

Workiva connected Chantelle and Mark Hynes, Manager, Financial Reporting at Fortis, with WorkOps Consulting CEO, Nigel Bunbury. WorkOps, a full-service Workiva partner firm, helped Fortis centralize their data collection, aggregation and reporting analytics in a single environment, so teams could access information faster, refresh data more often, and more trust the analytics.

“They had both the accounting experience and Wdesk design and build proficiency that helped us get there – and get there quicker,” Mark said of the WorkOps team. 

An Expert Team of Professionals

Because WorkOps consultants are all CPAs, they were familiar with the pain points financial reporting teams often experience as well as how to solve them.  They also well understood the Fortis team’s goals.

“We didn’t have to explain complicated accounting disclosures to them.  They just understood from the start.”

 

Even with a slight time difference between the Fortis headquarters in Newfoundland and WorkOps’ office in Toronto, the WorkOps team was there to help, Chantelle said.

 

“I’ve worked with WorkOps constantly day-to-day. They’re fantastic,” Chantelle said.  ”They are there non-stop.  They are always there for you.”

The nimble WorkOps team was able to help the Fortis team use more of the Workiva platform on an accelerated timeline.

“I would highly recommend working with them. You physically would not have the time in your day-to-day job to take on what they do and the product that they prepare.  The end result is just so much better than what you could create yourself, in the timeframe they do it in".

Communication

“The communication with WorkOps has been world class,” Mark said. “They are a small team, but they’re there for you any day or time you have any questions.  If I want to speak to anyone on the team, I give them a call, and within minutes I usually hear back.”

“They’ll sit with you on-site.  They’ll help out. I have nothing but positive things to say about WorkOps.”

 

Today, Workiva is helping Chantelle and her colleagues connect data and stay more connected with each other throughout the financial reporting process, thanks in part to the implementation by WorkOps.

Fortis Case Study Pic.png

 The end result is just so much better than what you could create yourself in the time they do it in.

Chantelle Mugford,

Financial Accountant

Fortis Inc.

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