LucaNet provides the finance department with a modern software solution for Financial Performance Management that solves the complexity associated with traditional vendor systems. It enables fast implementation, ease of use, transparent financial processes and complete control by users. In short, LucaNet gives you the financial reporting capabilities that you need now, without monumental delivery projects.
This is what sets us apart. Our ability to connect quickly and easily to your data sources means that project delivery times are significantly reduced and typically deliver an ability for you to start producing consolidations, budgets, plans, reports and analyses within a matter of days, not months.
LucaNet maintains a library of over 240 predefined data connectors with more in constant development, which not only vastly simplify your collection of data, but also build your financial warehouse, ready for use.
With data access solved, we work alongside you to start producing your reporting structure. The simplicity of the UI means fast implementations and leads to very high user adoption, fast training cycles, and independence from the need to ask your IT department for fresh reports. Most of our clients are hands-on from day one of the project. Our platform has built-in financial intelligence, so complex accounting rules do not need to be programmed-in during your implementation.
Whether your consolidations are simple or complex, our ability to seamlessly load financial records from underlying general ledger environments quickly turns your underlying information into consolidated reporting, with annotations, adjustments, and automation of accounting. Multi-currency conversions and multi-language requirements are easily handled, providing you with a platform for planning, or exposing the LucaNet information for business intelligence.
Budgeting, planning and forecasting often involves different personnel within your organisation, with different objectives and scope for the results. Being able to leverage the actual information without additional manipulation of data empowers the world of future financial forecasts and plans. By providing collaboration and workflow around the business and leveraging driver-based planning principles, LucaNet seamlessly aligns your P&L, balance sheet and cashflow, bringing its revolutionary approach to the dynamic world of planning.
Collate your data into a single solution for accurate and timely presentations of reports and analyses. Our integrated intercompany reconciliation function ensures the highest quality data as early as at the data-entry stage of the process and the integrated clearing wizard identifies errors (e.g. incorrectly entered reconciliation IDs) in the process, to save you from the tedious work of searching manually for errors.
The founding executive team of the LucaNet platform were all experienced accountants who had become increasingly frustrated by the complexities involved with the use of enterprise software for financial consolidation, budgeting, planning, forecasting and reporting.
The established vendors all provided solutions that were sold as a single solution, but which in fact were multiple software acquisitions forced together to attempt an integrated approach. By creating an application built on solid accounting principles that uses a modern software architecture, LucaNet provides its clients with software that eliminates the frustrations of using these legacy solutions.
Key elements of the LucaNet platform are built-in financial intelligence, workflow notations, and in-memory processing, providing users with the ability to have confidence in the accuracy of their figures, processes and output. Financial Intelligence ensures that debits and credits are recognised as such without having to programme the application, while workflow notations ensure that anyone can follow established processes from scratch and add comments. In-memory processing does away with many hours of batch processing routines to enable fast and simple consolidations and plans, and the platform can be delivered in the Cloud or on-premise.
The following endorsement of the LucaNet platform was provided completely un-solicited by one of our clients and is one of many that we receive on a similar theme:
"LucaNet has revolutionised our ability to dig into our existing financial and non-financial data. LucaNet harmonised that data into a structured, logical order. We consolidate four companies in a $150 million group effortlessly. Using both LucaNet's native BI capabilities alongside Power BI, we are now able to have visibility into our business for a fraction of the cost that a new ERP implementation would have been. I can see real world results where business managers have access to data, which helps them to manage their departments more efficiently. My use of MS Excel has dropped to a level where some days I never open it. Unthinkable just a year ago."
See the original endorsement here https://lnkd.in/dB2adzy.
For more client endorsements and a personal overview of the LucaNet platform, including an opportunity to test your own company data in LucaNet, please get in touch using the form below.
LucaNet (UK) Limited
1 Ashley Avenue
Contact: Gavin Allen – Managing Director UK and Ireland
+44 (0) 1372 253 385
Sophisticated IT systems that put finance before technology No matter how technology develops to assist fi nance professionals, the core tasks of the team remain the same. A lot of organisations still rely on pushing the functionality of spreadsheets to accomplish many of the tasks required to close the books on time, but Gavin Allen of LucaNet believes there is a better way.