The US-based magazine ‘CFO Tech Outlook’ has recognised LucaNet in their annual listing of 10 companies that are at the forefront of tackling customer challenges...
The US-based magazine ‘CFO Tech Outlook’ has recognised LucaNet in their annual listing of 10 companies that are at the forefront of tackling customer challenges...
We’ve all been there. You’ve identified the need for a new financial system and are now pondering the impact this could have on the Finance Department and your company’s business…
LucaNet identified as an international corporate planning solution provider in the 2017 Gartner Market Guide…
When do spreadsheets become a management challenge for the Finance Department and are they really the most significant barrier to better Financial Performance Management...?
The Planning Survey 17 has just been published by BARC and LucaNet have attained a very strong result overall, with ‘Performance satisfaction’, ‘Predefined data connections’ and ‘Ease of use’ KPIs in particular being singled as ‘Top-ranked’.
The result helps to consolidate LucaNet’s position as a leading vendor for BI in accountancy, where companies can benefit from using LucaNet as a planning and BI tool by achieving increased transparency of planning, improved integration of planning with reporting/analysis and better quality of planning results.
A further accolade identified was that customers are often willing to recommend the product to other companies. All the LucaNet customers responding to the survey said they would probably or definitely recommend the product to others.
“This is a fantastic result for LucaNet” commented Gavin Allen, MD of LucaNet UK & Ireland. He continued “This influential survey really has endorsed the LucaNet offering. We have always had extremely good customer relationships and this survey underlines the importance of being able to deliver first-class service and software to our clients”.
“LucaNet UK’s addition to the G-Cloud 9 framework will enable a wide range of Public Sector organisations to identify procurement opportunities from us as an approved supplier of Cloud-based technologies and we are looking forward to establishing the brand in this important sector” commented Gavin Allen, Managing Director of LucaNet UK & Ireland.
LucaNet grew successfully once again in 2016, increasing sales by 27% and achieved an average growth rate of some 30% over the past ten years. It has acquired 270 new customers of all sizes, from a wide range of business sectors globally, including Jochen Schweizer, Roland Berger and Vapiano as well as the Alibaba subsidiary Lazada and the Singapore-based pharmaceuticals group TauRx.
LucaNet’s management team has a few plans up its sleeve for 2017 as well. Executive Board member Oliver Schmitz is confident: “We are very pleased with last year’s results. We are particularly delighted to have once again doubled our sales in the space of three years. In 2017, we want to take our successes in German-speaking countries and transfer them to the international stage, opening up new customer segments in the process.”
Launched in January, the LucaNet 10 major release fully automates all the processes involved in financial controlling, by optimising all procedures for consolidation, planning, reporting and analysis. Oliver Schmitz continues… “Our software simplifies the complex interrelationships involved in business administration, giving the user a product that is intuitive to operate and that provides all the necessary information more quickly and more accurately. For the specialist department, that means greater security thanks to automated processes and fully traceable figures; for financial managers, it means a sound basis for their strategic decision-making.”
Gavin Allen, Managing Director of LucaNet UK & Ireland commented “I am absolutely delighted that William has agreed to join us at Sense 2017. LucaNet work closely with CFO’s, Financial Directors and Financial Controllers and I believe that William will provide the kind of insight into business growth that will be of great value to that community as business moves into uncharted waters as a consequence of Brexit”.
AS CEO of Brompton Bicycles Ltd., Will Butler-Adams is helping spearhead a new surge in British manufacturing. His company design, produce and distribute over 30,000 folding bikes each year from their UK factory – with half the 1200 parts in every Brompton made onsite. Even in the current economic climate, they are enjoying exponential growth. Will’s inspirational approach has seen his own overseas customers grow to account for 70% of sales.
Visit our events page and register for Sense 2017.
LucaNet's newest office is at 1900 Market Street in Philadelphia. The US office shares the same street on which Benjamin Franklin’s home once stood, and is located just a few hundred yards east of where the U.S. Declaration of Independence was signed on July 4, 1776. This historic address will now act as the control center for LucaNet's business in the U.S. and Canada. "LucaNet offers robust financial intelligence software that integrates with any ERP in an unparalleled way," explains Simon van Koppen, Managing Director of LucaNet North America, LucaNet's official market presence on the continent. "Moreover, users can configure and manage the software without being dependent on external consultants or IT. Combined with a rapid implementation methodology, we offer our solutions coupled with a very low total cost of ownership.”
As Managing Director, Mr. van Koppen is responsible for launching the LucaNet brand in the U.S. and Canadian markets, a task that includes seeking out suitable technology partners. With the ERP suppliers Exact Macola and the disclosure management provider SmartNotes now on board, it has not taken long for him to find success.
Mr. van Koppen brings many years of experience in consulting on, implementing and marketing international projects. He was previously based in Germany, working in international business development tapping into and expanding new markets.
He will be supported by Robert Lawson, a native of Philadelphia and the second Managing Director at LucaNet North America. Mr. Lawson has been with the company since 2015, starting out in Germany as International Business Manager until his transfer to the U.S., where he was responsible for consulting on and implementing projects for international customers. Mr. Lawson knows what makes the North American market tick: "The U.S. is a highly competitive market, and companies demand tools that will provide them with a consistent competitive advantage. With the LucaNet software, financial professionals will spend less time collecting, validating, and reporting data, and more time on the analysis to provide the business with that advantage.”
Having opened its site in the U.S., LucaNet is now represented in ten countries. Dominik Duchon, a member of the LucaNet Management Board, feels confident regarding the leap across the pond: "We are the leading supplier in the European corporate performance management sector because we consistently put ourselves in the user’s shoes. Our software enables all finance managers, from specialist users through to CFOs, to independently shape their processes more efficiently without the need for an IT department or external consultant. We firmly believe that these are the perfect conditions for success in the U.S. and Canadian markets."
LucaNet was founded in 1999 by Rolf-Jürgen Moll and Oliver Schmitz. Although the company was originally conceived as a management consultancy, the shortcomings in the consolidation, planning, reporting, and analysis systems at the time inspired Mr. Moll and Mr. Schmitz to develop a fully integrated corporate performance management suite of their own. Their vision to provide finance managers with a product that would let them make all their decisions quickly and based on real data grew into a group with ten sites across the world. The company is headquartered in Berlin.
Its 1,700-plus customers include Data Mail, Ricola, Rocket Internet, RWL Water, Toshiba, and Vanguard, all of whom benefit from LucaNet’s flexible, high-performance CPM solution and expert advice.
LucaNet (North America) LLC
1900 Market St, 8th Floor
19103 Philadelphia, USA
Tel. +1 888 691 1523
LucaNet AG, provider of software and consulting services for Financial Corporate Performance Management, has released a new version of its software for consolidation, planning, reporting and analysis. With LucaNet 10, the Berlin-based enterprise is launching an automated system that optimises all financial controlling processes and provides finance managers with all the information they need to make their decisions, more quickly and accurately than ever before. The release will introduce an array of new features to increase the efficiency of financial processes.
In order to ensure the lasting success of an enterprise, its accounting department needs to process and analyse the available data as efficiently as possible. Staff need fast, prompt and transparent access to all the relevant financial figures at a glance. Yet there is one problem that plagues enterprises across every sector, regardless of their size: the data is inconsistent, so processes such as reporting and the generation of financial statements need to be carried out manually. This is a slow, arduous process. As a result, those responsible for processing the data are left with little time for what really matters: the analysis and interpretation of the figures that forms the basis upon which many of the enterprise’s important strategic decisions are made. With the new version of its software, LucaNet has brought out a product that fully automates all the processes involved in financial controlling, thus optimising procedures in the fields of consolidation, planning, reporting and analysis.
“Clean data is the cornerstone of a reliable financial planning and analysis that can also weather times of crisis,” says Dominik Duchon of the LucaNet Executive Board. “Homespun Excel solutions are nice enough, but they’ll reach their limits sooner or later. What takes users in Excel days or even weeks to achieve – collecting and processing data from a variety of sources for reporting – our software can do in seconds, thanks to the ready-made interfaces it has with all the source systems. The data is compressed and processed automatically using a framework of rules, and potential triggers for errors are identified at an early stage in order to ensure that only validated data is included in the reports. This makes the generation of financial statements a much faster process, as no time is wasted searching for inconsistent entries.”
In addition to the high degree of automation it provides for data procurement, validation and further processing, LucaNet 10 also stands out due to its intuitive operation, the full administrative options it offers specialist users and the way it combines internal and external reporting. LucaNet has also taken the opportunity of the new release to plug a huge gap left by other systems currently on the market: rather than having to choose between a low-risk, easy-to-implement, standard software suite or a solution that is much more complex but also customisable, LucaNet 10 allows users to have both.
“Profit and loss statements, balance sheets and cash flow statements follow the same principles the world over. As such, it is possible for accounting teams to have software they can use straight away. But when an enterprise has individual requirements with regard to particular specialist aspects of the process, things start to look a little different. Data from different pots needs to be tapped and combined before it can be processed. Up until now, this was difficult to execute and standardise. y using apps we now have managed to strike the perfect balance between efficiency and customisability by combining these two options. This allows the seamless integration of additional, customer-specific options into the software, allowing users to transparently display completely individual records relating to their enterprise’s business – without losing out on the benefits of a standard software solution,” Duchon explains.
In this 55 page white paper, over five chapters you can find the following informative content:
To also consider the impacts following Brexit on innovative technologies, and the modern office of finance, you might also like to hear our views from a recent interview conducted by The Business Reporter from The Daily and Sunday Telegraph.
Spaces are strictly limited at this exclusive venue, so please reserve early, by going to the following link and placing your reservation. We look forward to meeting with you, and presenting some highly informative content.
Ahead of these breakfast briefings, you may also like to watch our recent interview with The Business Reporter of The Daily and Sunday Telegraph, as we discuss the impacts of Brexit on innovative technology and on the modern office of finance.
Join us on Thursday 23rd February 2017 at 12:30 GMT, for the first of our one hour interactive live webcasts. This month we focus on "The Consolidation and Data Challenge" of performing the traditional financial close and consolidation of the financials. Obtain your passcode to this exclusive webcast here.
In this Linked In Pulse article, Gavin Allen Managing Director LucaNet UK & Ireland, discusses the significance and emergence of both financial and non-financial planning, and how we must not forget the importance of a baseline key financial plan from the Profit and Loss, through Balance Sheet, to the Cash Flow.
Want to know more about the likely impacts of Brexit and what this means not only for innovative technology but also the modern of finance then please find below our recent interview with Business Reporter of The Daily and Sunday Telegraph.
In this third and final update of three blogs, Gavin Allen (Managing Director LucaNet UK & Ireland), discusses whether there is a difference between financial planning and operational planning, it's data, complexity and processes.
So why do we still have the discussions around operational planning, multi-dimensional capabilities here there and everywhere, mobile collection of data, driver based plans, complex computational modelling and so on? When we have already achieved the core foundations of our business plans already with financial planning?
Well the answer in my opinion is that technology has not helped here. From spreadsheets, to the most modern in memory multi-dimensional tools out there (some completely available on the cloud), it would appear that the advances in technology are (and have) started to dictate that everything should be done in a certain way, and in the modern world of social selling, organisations (and the office of finance) are bombarded with messages indicating they need this “must have” technology to deliver accurate forecasts and plans, and requires the involvement of hundreds of personnel. Sound familiar?
You can see that the brief of technologists is to sway the thoughts of organisations in thinking that unless you are planning by day, by customer, by widget, by this, that and the other, and getting the entire organisation involved and collaborating online, and describing what they are doing, provides a better forecast? I agree that modern technology can deliver to this agenda, but it should not be the place to start – time to get back to basics – leverage intelligent financial planning in the first instance – then and only then consider augmenting this with more detailed operational plans?
With this approach, the world of operational planning, and bringing in non-financial data and drivers becomes apparent. Plan drivers can be presented based again on the historical transactional records, then used to model information in a way that is more understood by non-financial personnel. Click to read more from my earlier articles.
The importance of non-financial data and it’s use in forecasting has long been the hidden secret. Why is this? Well again back to your transactional records – say we record the number of overseas trips. Married to the actual financial information, we can turn non-financial information into drivers (e.g. average cost per overseas trip for planning), when involving non-financial personnel! Instead of asking say “what are you going to spend on overseas trips” which is a financially biased request, ask for the “how many overseas trips are you planning on making” and then use the already derived driver to deliver the financial output. This is very essence of operational planning, providing reference points and drivers for those in a more operational position within the organisation.
Multi-dimensional modelling and planning should empower operational personnel to work outside of the constraints of the chart of accounts (for example modelling sales quantities by customer, selling prices, margins etc). Deriving the financial information from a suite of underlying information not held in a chart of accounts. Allowing different perspectives of information to be “sliced and diced”, and of course to perform break back to ease the burden of data entry associated with modelling and planning at such greater levels of detail.
Yet according to FSN's recent survey, Non Financial Data is the Forecasting Game Changer, but not appearing on the list of CFO's top priorties!
So we start to know see how the results from a rule based financial plan, can be compared and aligned with an operational plan, and for the resultant business discussions to take place. Agreed, financial planning does not cater for details within the business that are not known by financial personnel. Using run rates and history cannot always be a good basis when an organisation is going through change, but it’s not a bad place to start.
And this is where that value of operational planning lies, using drivers, dimensions and additional context allowing the marriage of operations and finance personnel in what appears to be a harmonious environment. I am not suggesting for one minute that conflict resolution is easy when operations and finance have differing views, but at least those views have foundation, auditability, accountability and buy in for discussion!
I have also witnessed a revolution recently in the charts of accounts being incorporated by organisations – more account lines holding more details that embrace a more operational style of reporting (perhaps account codes for each customer under sales). Often now seeing a whole section of the chart of accounts given over to the recording of non-financial information. This starts to show that in those organisations performing Financial and Operational Planning in harmony that the end result is a co-ordinated platform for business financial performance management.
To conclude therefore, start with the basics, accounting, logic based Financial Planning, delivering robust, high quality strategic forecasts of your business, from Profit and Loss right through to the Balance Sheet and Cash flow., simply, easily and effectively.
Then, and only then, enhance, and AUGMENT with Operational Planning. Allow more drivers, non-financial information to influence the forecast results. Bring in to play the dimensional characteristics of specific areas of business performance, and enable cross dimensional modelling accordingly. Collaborate these vast data sets amongst peers and control what is often a very disparate process.
Bring the two result sets (and importantly the people) together for business analysis and business direction, getting away from the “well those are not my numbers, they are finance”, and above all else just because technology can, doesn’t mean you should!
In the mean time you might like to watch our recent interview with Business Reporter of The Daily and Sunday Telegraph, where we discuss the impacts of Brexit and innovative technology.
To discuss your requirements further, or arrange a personalised one to one demonstration of the LucaNet platform, then please contact us and discover the unique, simply intelligent solution that is LucaNet.
LucaNet UK & Ireland
As well as the opening keynote speeches, across the two days, attendees saw a wide variety of LucaNet presentations and workshops including:
• Explanation of the different integration options
• Examples of projects with MS Reporting Services and Power BI
• Best practices
• Decentralised data collection via web
• Intercompany reconciliation
• Automated validation of data for completeness and consistency
• Monitoring of the approval process
• Personnel controlling
• Project controlling
• Product controlling
• Automatic data transfer from LucaNet
• Parallel processing of reports by several users
• Workflow support
• Complete MS Office integration (MS Word, MS Excel, MS PowerPoint)
• Creating ready to print reports
• Reporting, consolidation and forecasting of a dynamic leisure company
• Best of breed management information solution: LucaNet in combination with a third-party BI Tool
• One source, one platform, creating one through in different views using LucaNet and Microsoft BI
• Beyond just monthly financial consolidations, and move into weekly management information, all in a single integrated solution platform
• Gain greater accountability of your financial plans – from monthly financial planning to weekly operational planning and forecasting
• Visualise your complete financial performance management with dashboards and then take them mobile
See you all again next year!
Managing Director LucaNet UK & Ireland
With the opening of the new Singapore office, LucaNet will bring a unique, differentiated technology for integrated consolidation, planning, reporting and analysis to Southeast Asia. With customers in Thailand, Singapore, Australia, Japan and Malaysia, as well as with its office in Shanghai, China, that was opened in 2010, LucaNet has already extensive experience in providing a flexible and robust reporting software solution in the region.
INSIDER BECOMES REGIONAL MANAGING DIRECTOR
LucaNet (ASEAN) is led by Sanjay Sivanandan, a global Singaporean, who is highly experienced in running and profitably growing business both globally and in Asia. He understands the need for new innovative transformative technology to address the opportunities and challenges that companies and corporations are facing in the area of Financial Corporate Performance Management.
Sanjay combines industry knowledge and insight with the necessary sensitivity for cultural differences and intricacies between Asian and European thinking. He is regarded as an expert for both large multinational enterprises and medium sized companies in all major industry sectors. For Sanjay, the LucaNet solutions are truly unique in the market: “LucaNet is a real software technology innovator and European leader in the field of Financial Corporate Performance Management (FCPM) solutions. Its core strength lies in its capability to consolidate and integrate financial information, P&L and cash flow in a real-time and transparent manner for all types and sizes of client business. We are able to implement our intelligent, yet simple ‘out-of-the-box’ solution that augments and enhances existing systems and processes already in place at our clients operations without disruption.
A typical implementation takes only two weeks, and our clients are up and running with our easy-to-use, yet powerful and fast ‘in-memory’ technology. This is exactly what clients want and need to run their businesses in the dynamically growing marketplace of Asia, and what makes the LucaNet technology truly unique, differentiated and ‘Simply Intelligent’.”
With this strong value proposition LucaNet ASEAN has already acquired their first client, TauRx Pharmaceuticals, a global pharmaceutical company. Dominik Duchon, Member of the Executive Board of LucaNet AG, sees enormous potential for LucaNet in the Southeast Asian region: “We are very excited on entering the ASEAN market via our new regional HQ office. Given the large potential, growth and size of the yet untapped ASEAN region, we see a great opportunity for the LucaNet technology to expand and grow profitably and extend our market leadership to Southeast Asia. The complexities the companies in this region face regarding consolidation, reporting and planning increase the need for flexible FCPM tools. We are confident that with Sanjay we have found a Managing Director that can profitably expand and grow the LucaNet brand in the ASEAN market, and deliver a high-quality service to our customers.”
Since 1999, the LucaNet group has stood for the highest level of business intelligence expertise in the field of accounting. Its software solutions for consolidation, planning, reporting and analysis are distributed worldwide through its own sites and a global network of partners. The enterprise’s headquarters are in Berlin. More than 1,500 customers of varying size from many different sectors benefit from LucaNet’s flexible, high-performance software modules and in-depth specialist consultancy.