Consolidation in record time: Metabo has the solution for tight schedules

Success story Metabowerke GmbH

Metabo realised the quandary they were in: Their own system did not allow for fast consolidation, planning and reporting had become painstakingly labor-intensive, and all the time for the important tasks was being stolen in the process. It was time for a new solution. Monthly group reporting and the preparation of complex data are now no longer a problem with LucaNet. With such a tight schedule, the relief from the burden of consolidation was immense.

LucaNet has won us over thanks to its versatile usability and adaptability. The database architecture is based on the newest standard of technology and the diverse functions for consolidation, planning and reporting have been thought through intelligently and systematically.

Oliver Haug
Group Accounting and International Controlling

How Metabo uses LucaNet:

  • Monthly group reporting
  • Monthly consolidation
  • Self-contained financial planning

About the enterprise

The story of Metabo began in 1923 with its first hand drill. Today, the Swabian company is synonymous for machinery and hardware accessories and stands for reliability and expertise.

Business Processes

logo metabo

Industry:

Production/Industry

Core Business:

Power tool manufacturer

Headquarter city:

Nürtingen (Germany)

Employees:

1,800 (worldwide)

Website:

https://www.metabo.com

The challenge

Quarterly consolidation was not the solution

Metabo’s previous system only allowed for quarterly consolidation. This posed a problem when the monthly consolidated financial statements had to be ready by the seventh of each month. The quest was to find a software solution that could enable monthly consolidation in a few simple steps and better, self-contained planning processes.

metabo tools

The solution

Saving time during consolidation

LucaNet was quick to be found and implemented, and in no time, the entire consolidation process was newly devised in a more efficient manner. And now, before their eyes, the desired figures are available on time every month. It’s all straightforward, automatic, and one less stress during the consolidation process. “LucaNet’s ease of use is a real winner for our whole team. Be it monthly or lump sum consolidation during the year or paired consolidation at year’s end, the sky is the limit,” rejoices Oliver Haug, responsible for Group Accounting and International Controlling at Metabo.

Forecasts and planning are also run through LucaNet, whose integrated planning forms and planning wizards support efficient preparation of the figures. “Our balance sheet and cash flow planning have been simplified considerably,” says Haug. The reporting process is facilitated by the centralisation of the actual and planning data within one database, as well as the ready-made report structures, which can be easily tailored to individual circumstances. Today at Metabo, even the most complex financial relationships can be prepared in a straightforward and traceable manner – be it for internal use or for third parties, such as auditors.

How LucaNet software benefits Metabo:

  • Transparent group accounting
  • Excellent traceability for consolidation
  • Quick and straightforward resolution of differences that arise

Further references from the industry Production/Industry