Tax Provision Software Reimagined: PowerPlan Launches New Cloud Solution
ATLANTA, Dec. 17, 2025 (GLOBE NEWSWIRE) -- PowerPlan, a leading provider of financial software solutions for energy companies, today announced the general availability of Provision NXT, its next-generation SaaS solution for income tax provision. Provision NXT transforms how tax departments manage complex ASC 740 and ASC 980 calculations by eliminating manual reconciliations, automating repetitive tasks, and delivering continuous updates through modern cloud architecture.
For more than 25 years, PowerPlan has provided a trusted tax provision solution for utility and energy companies. Provision NXT builds on this foundation while addressing the operational challenges that keep talented tax professionals tied to manual work rather than strategic analysis.
"Tax departments today face pressures that legacy systems simply weren't designed to handle," said Raphael Shure, CEO of PowerPlan. "Provision NXT delivers the proven capabilities our customers have relied on for decades, reimagined for the speed, flexibility, and data access modern tax teams require. We're giving tax professionals their time back to focus on what matters most—strategic decision-making and analysis."
The launch addresses critical market needs revealed by PowerPlan's recent research: 61% of tax professionals identify manual reconciliations as their single biggest challenge, consuming hours during every close cycle. Meanwhile, 60% cite automation of repetitive tasks as the most impactful improvement they could make to their provision process.
Eliminating Manual Work Through Platform Integration
Provision NXT runs on the same NXT platform as Tax Fixed Assets (TFA), PowerPlan's proven SaaS solution for deferred tax and tax depreciation that's trusted by leading utility and energy organizations. This unified architecture eliminates the manual reconciliations that consume hours during every close cycle. When tax depreciation and deferred taxes are calculated in TFA, data automatically feeds into provision calculations without requiring exports, imports, or custom integrations.
Empowering Strategic Decisions with Better Data
Provision NXT is designed to give tax teams unprecedented access to provision data for analysis, scenario modeling, and variance explanations. Combined with a redesigned user interface that customers have rated "10 out of 10" for intuitiveness, the solution accelerates time to proficiency and makes information extraction significantly easier.
Continuous Innovation and Compliance Through Quarterly Releases
Built on modern SaaS architecture, Provision NXT delivers functionality enhancements and compliance updates through quarterly releases rather than requiring major upgrade projects. Regular delivery of new innovations keeps tax departments operating with speed and efficiency. When new tax legislation passes or FASB issues new guidance, tax departments can adapt quickly without scheduling lengthy implementations or waiting for software upgrade cycles.
Built by Tax Professionals for Tax Professionals
Provision NXT was developed by income tax leaders averaging over 15 years in tax, and guided by feedback from hundreds of hours of customer collaboration sessions. This customer-driven approach helps ensure the solution addresses real challenges from real tax departments.
Provision NXT is generally available today, joining TFA as part of PowerPlan's comprehensive tax solution suite on the PowerPlan NXT platform. In early 2026, PowerPlan will launch all products for accounting, tax, and regulatory compliance as SaaS solutions on the NXT platform, providing existing on-premises customers with full functional parity when migrating to the cloud.
For more information about Provision NXT or to request a demonstration, visit www.powerplan.com/provision-nxt.
About PowerPlan
For more than 30 years, PowerPlan has helped utility and energy companies make the right financial decisions to improve lives and power the world. Through our industry-leading expertise, innovative technology, and vast experience listening to and working in tandem with our clients, PowerPlan software sets the standard that CFOs can count on for financial clarity. PowerPlan operates as an independent subsidiary of Roper Technologies (NASDAQ:ROP) a constituent of the Nasdaq 100, S&P 500, and Fortune 1000. For more information, visit www.powerplan.com.
MEDIA CONTACT: Connie Phillips Sr. Manager, Marketing Communications, PowerPlan 678-223-2800
