Simply impressive – WAGNER Group GmbH opts for innovative accounting
Industry: Fire protection concepts
Headquarters: Langenhagen (Germany)
Employees: approximately 480
Project: Implement an innovative software solution for consolidation, planning, reporting and analysis, Create a uniform database, Standardise report structures
Modules: LucaNet.Financial Consolidation ; LucaNet.Planner
WAGNER's goal was to implement innovative software technology that would boost efficiency in consolidation and planning. Thanks to LucaNet's freely combinable software modules, the medium-sized fire prevention specialist now has the perfect accounting solution.
WAGNER was founded in 1976 as an owner-operated company. Today, the international group of companies is a top choice for complex tasks in the field of fire safety engineering. The company's business model is based on creating advanced and professional fire prevention systems from a single source. These solutions must be high-quality, reliable and cost-effective. To ensure this, the medium-size company uses innovative technologies.
WAGNER also expects sophisticated and innovative solutions from its suppliers and partners. As the company's consolidation and planning processes grew increasingly complex, WAGNER needed a software solution that would satisfy all of its needs.
Optimised processes for consolidation and planning
"Using a spreadsheet application was becoming increasingly difficult. The work involved in adding new companies, accounts or structures was too time-consuming. Also, our ability to display and document individual accounting processes was inadequate. As a result, auditing the Group was always a challenge for our auditors", says Carsten Schnute, Head of Accounting at WAGNER Group GmbH.
Processes also needed improvement in the area of planning. For example, a uniform database was needed, and reporting structures needed to be harmonised.
Outstanding in all areas
In the search for the right software solution, LucaNet emerged as the best choice in several areas.
"The most important factors were the software's technical capabilities and superior interface. LucaNet is not only an expert in technical matters, they also offer professional consulting services for more specialized matters such as commercial law issues. These factors were immediately incorporated into the technical implementation process", says Carsten Schnute, explaining why LucaNet was such a clear choice.
WAGNER chose LucaNet quickly, and the software was implemented equally fast: "After just two hours, the first data had already been imported from our ERP system Navision. By the end of the first day, the most important balance sheet and P&L structures had been created and the accounts had been mapped", says Carsten Schnute, describing the successful implementation.
Numerous areas of application
The company uses the software in many different ways. The tool is used for preparing the consolidate financial statement as well as mapping cash flow and reports on equity, provisions and fixed assets. "In the area of consolidation, we're benefiting from a uniform database that has significantly improved data quality. The consolidated financial statement can be created quickly, thanks to a range of wizards. Another useful feature is the integrated task overview, which allows other users to track processes. Thanks to the increased transparency, the auditing process is also much faster now", says Carsten Schnute, describing consolidation with LucaNet.
Planning and reporting are also more effective thanks to standardised report structures. Further areas of application include sales analyses by sector and personnel planning.
"As a medium-sized global player, we offer highly innovative solutions for our customers. We expect the same from our suppliers. We found an ideal partner in LucaNet. LucaNet impressed us right from the start. The software was quickly integrated into our business processes and has been running smoothly for us ever since, not least thanks to the competent, friendly and customer-focused consultants at LucaNet."
Carsten Schnute, Head of Accounting
WAGNER Group GmbH