Altairnano, Inc.
Clean Energy / Energy Storage
Audit Compliance & Reporting
Story
As one of the leading providers of storage systems for clean energy generation, Altairnano, like all publicly-held companies, must comply with a growing number of regulatory mandates.
Headquartered in Reno, Nevada with manufacturing in Anderson, Indiana, Altairnano is a leading provider of energy storage systems for clean, efficient power and energy management who is working with major industry players around the world to reduce carbon emissions and increase the adoption of renewable energy solutions.
However, the company’s financial system was not meeting the requirements of its by-annual audits mandated by the Securities and Exchange Commission (SEC). Gathering the required information was a slow and work-intensive manual process and in order to be in compliance they needed to respond immediately.
Solution
In search of a better system, Altairnano selected IFS Applications. Carol Beeson, IT Process Manager at Altairnano, said that Nayo Technologies came “highly recommended by local companies” for providing high-quality IFS consulting services.
By working with Nayo, Altairnano was able to rapidly develop the necessary reports in order to comply with the financial regulations.
Benefits
One major advantage Nayo provides is flexibility. Nayo has the skills and experience to create custom solutions that extend the functionality of IFS Applications for each client’s individual needs.
Nayo is a global organization with consulting resources working in various time zones, allowing them to respond quickly to their customer’s needs. This benefit for Altairnano was realized when they submitted a request at the end of the day and received a resolution the next morning, which in turn allowed them to meet their filing requirements as soon as possible.
While accomplishing their immediate audit reporting needs, additional benefits resulting from the effort are that they now have a greater ability to regularly monitor and evaluate the productivity and efficiency of their corporate processes on an ongoing basis.
This partnership has paid off. By working with Nayo to design a custom IFS solution, Altairnano has successfully improved its audit compliance and did so very cost effectively. This has freed company resources to be dedicated to its true mission: fostering sustainable and economically sensible power and energy management practices.
Nayo Difference
Beeson credited Nayo with always being available to help with confusing details, and provided consulting advice to Altairnano regarding specific ways that they could make the process easier for the next audit.
“What I like is they tell me what’s wrong so I can fix it next time,” she said.
“They’re a one-stop shop that can handle just about anything,” Beeson said. “I’ve never seen anything like it.”