Monthly financial statements are now a breeze
Success story Envivo Group Ltd
Envivo Group's finance team reports monthly to the board. For a long time, consolidation and reporting were time-consuming and stressful. With the switch to LucaNet, the process has been significantly simplified and transparency has been brought to the financial data.
Envivo Group uses LucaNet software:
- Month-end consolidations and management accounts
- KPI reporting
- Statistical, debtor, and asset reporting
- Actual vs. budget comparisons
LucaNet is a user-friendly and very impressive all-around product.
Month-end close from a single source
For Envivo's management board, Emine Ucar's team prepares monthly consolidated financial statements, reporting comprehensively on profit and loss, balance sheet, cash flow, debtors, and assets, as well as providing a detailed review of each care home's performance.
"LucaNet has helped us build efficient and accurate reporting," concludes Emine Ucar. "What was complicated before is now effortless. LucaNet is our platform where everything comes together. Thanks to the software, we can see the consolidated result very quickly as well as divisional performance. The companies also benefit because their reports are structured in such a way that they can update their data independently. The exchange between our Group headquarters and the individual companies has become much more efficient and transparent. That is a huge benefit to both sides. Overall, we now save about 6 days of work during the month-end closing process." Envivo's board of management is also thrilled. Thanks to LucaNet, they now get reliable data with a high degree of transparency, enabling them to make their decisions on a sound basis.
for month-end closing