How do you navigate the myriad of compliance requirements that come with asset management in renewables?
Keeping track of all renewable asset management’s financial, technical, and regional compliance requirements can be daunting. So daunting, in fact, that you could be in technical default at this very moment and not know it.
Even as we’re writing this, we’re fully aware that your eyes might be glazing over. But this is important. Failing to keep up with compliance requirements can sink your business.
If we were to call you right now, would you be able to easily locate your regulatory and contractually mandated requirements? If not, do you know where to begin looking for this information?
Some clients have admitted needing days or weeks to puzzle it all out.
We get it; compliance is boring. But it’s a necessary evil. So, let’s talk about how you can stay ahead and avoid getting lost in the details.
A strong business is built on three pillars: compliance, technical performance and financial performance. Being unprepared for compliance obligations exposes your business to risk and major fines. Even still, the bulk of our focus is spent attempting to optimize technical and financial performance. There must be an easy way to ensure compliance follows suit.
Having centralized document storage offers many benefits:
- It makes providing due diligence requirements easy
- Increases transparency
- No one team member has the “keys to the castle” as far as legal documents go
- And it’s more secure than Dropbox
- With added dual authentication, you maintain control over access and the version of documents
Creating a better compliance history is crucial to protecting your business.
If you’ve been in the renewable energy industry for some time now, you’ve likely dealt with stakeholder activism. Making sure your communications are clear, and you maintain transparency is key as you traverse these situations.
The right tool exists to help you track the steps you take and keep an easy to access records
With the right compliance tool, you’ll be able to track and schedule obligations. With consistent task and project management, compliance becomes simple. You’ll be able to get the team involved by setting up tasks and recurring obligations in a master schedule.
Keeping everyone on track and in the loop is the first step in staying on track with compliance obligations.
Why go with our compliance solution?
With PowerHub’s Compliance solution, you’ll be able to set and forget. The capability will exist to set up tasks as you receive them, even years in advance, and let PowerHub do the work to help you keep up to date with your obligations.
Flexible notification periods will help keep your team accountable for their assigned tasks and ensure your business does not miss any compliance commitments.
Finally, with our evidence tracking feature, you’ll be able to simplify your audit process by having the option to proactively attach your documents as you complete contractual obligations.
It’s simple. With PowerHub’s compliance solution, you won’t only be on track…
You’ll be miles ahead!
