Software for Intelligence in Accounting
Beyond Debits and Credits
Our software for financial consolidation, planning and controlling as well as recording and transferring data can be deployed either individually or in any combination you may need. Implementation times of only a few days and user-friendly operation lead to direct time and cost savings.
No matter how good a company's products or services, unless the company is successful financially, it is doomed. Because, in the most basic sense, financial success is business success.
Business history is littered with stories of companies that had innovative products and visionary ideas, yet couldn't translate those assets into sustainable success in the marketplace.
In today's business environment, with global competitive pressures and increased regulatory scrutiny putting finance departments under greater pressure than ever before, achieving that all-important financial success demands effective financial performance management.
What is "financial performance management"? And how does it differ from the various other species of performance management that analysts and vendors have been discussing for the last several years?
As the name suggests, financial performance management (FPM) is an office-of-finance-focused subset of the broader performance management field.
Ventana Research describes FPM as a specific set of capabilities that includes "defining their company's key performance indicators, formulating strategic plans and forecasts, handling performance reporting, and increasing finance operational efficiency and execution company-wide."
Adding on to finance's full plate
For the office of finance, of course, these FPM functions are in addition to the traditional financial processes needed to run the business. That is why the LucaNet vision for FPM embraces both the expanded capabilities outlined above by Ventana, and those traditional duties that finance must perform in any large organization.
Why LucaNet for FPM?
As analysts at AMR Research commented recently, "time and time again, our clients tell us they want performance management processes to provide actionable advice and trigger workflows across their application portfolios so that users can take remedial – or preventive – action rather than simply report history."
That is precisely the promise of FPM solutions from LucaNet.
While FPM makes its home in the office of finance, its effects are felt throughout the organization. LucaNet enables finance to advise operations about the financial consequences of business events quickly, and helps guide operations in their decision-making, so that decisions are aligned with the organization's overall strategy.
"The design and easy operation of the software directly appealed to us. Apart from exchanging experiences with reference customers of LucaNet AG, the parallel reproduction of a financial statement compliant with the German Commercial Code and IFRS, and also the possibility to create planning scenarios in the software, have tipped the scales for LucaNet."