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Arc-Two Launches Arctek to Provide Utilities Industry with a Cloud-native Choice for Asset Accounting and Tax ReportingArc-Two, the most experienced consulting practice to the North American utilities industry, has announced the launch of Arctek, a new, cloud-native software solution designed to meet the unique asset accounting and tax needs of public utilities and municipalities. Arctek is a best-of-breed, cloud-native solution built from the ground up to deliver the efficiency, accuracy, and transparency that today's compliance and reporting demands. Along with modern features and design, Arctek increases operational performance, improves data accuracy, and ensures regulatory compliance. "In today's fast-paced, highly regulated environment, there is a clear need in the utilities industry for a modern, cloud-based solution to simplify asset accounting and tax reporting processes while maintaining transparency at all times," said Ann Koch, co-founder and partner at Arc-Two. "Arctek empowers industry leaders to choose a solution that is fit for their teams' needs and can help their organization significantly reduce ttal cost of ownership and achieve stronger business results." From work order creation through asset and depreciation accounting to income tax processing, Arctek meets the entire asset life cycle. Further, the solution reduces total cost of ownership (TCO) by eliminating the need for outdated client-server hardware and software and the risks of continued support for legacy solutions with low-value/high-cost support contracts. Key features include:
The team at Arc-Two has extensive expertise in the utilities industry with each executive bringing 15-30 years of industry experience and a consistent record of success. Collectively, the team has led or executed projects at more than 75 rate-regulated utilities across North America. "Asset accounting and tax reporting for utilities is complex, and with Arctek we have taken our collective expertise and developed a full-functioning, scalable cloud solution," said Doug Johnson, partner and CTO at Arc-Two. "The intuitive user interface empowers users to navigate tasks swiftly and perform more self-service tasks - streamlining project lifecycles, accelerating productivity, and ensuring access to accurate data in real-time." To learn more about Arctek, visit: www.arc-two.com/arctek. About Arc-Two Arc-Two Consulting is a financial systems solutions company focusing in the area of regulated asset accounting. Formed in 2016, we saw an opportunity to leverage our experience and provide cost-effective results in the industry. The name of our company was purposely chosen to clearly represent who we are. "Arc" stemming from an electrical arc formed between points - an acknowledgement of our rate-regulated utility roots - and that connection manifesting itself in "Two" ways: between our customers and the newly formed company, and between the two founding partners, both generating a spark that lives on today.
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