Lucanet vs. Synoptix

Lucanet is an easy to understand consolidation tool that displays the company's PnL, balance sheets, and cash flow statement in a clear way. The software is intuitive and easy to understand. User access functionalities are good. Dashboarding, reporting, and variance analysis are limited which is a disadvantage compared to other applications who do offer more all-in-one solutions.

Incentivized

It is excellent if set up well, and users are well trained on how to use it as it is not very user-friendly. But to achieve that, you have to go through the hell of a setup. Support is not knowledgeable in some areas of the software, it is tough to set up and install, and when presented by salespeople, it is all great, but you need to invest a lot to pay it off.

Incentivized

• Very intuitive interface to slice and dice the data to have a monthly, quarterly, or yearly view
• Easy to add additional journal entries
• Present legal consolidation structure in an intuitive way

Incentivized

• Easy report building interface with an query interface that allows financial users the ability to conduct complex queries without difficulty.
• The ability to create reporting that allows us to review in-depth financial review by drilling down into accounts to find transnational data easily.
• Easily maintained and monitored with simple upgrade installations and end point installation.
• Great knowledge base for review and trouble-shooting.
• Highly knowledgeable and easy to work with staff.

Incentivized

• Limited dimensions to drill-down to a lower level of detail
• Limited reporting functionality
• We used it mainly for consolidation of actuals. As far as I know, limited functionality for variance analysis

Incentivized

• It has a poor install procedure which is not standard. It almost requires copying folders from an existing computer to the new install.
• The update process is less than desirable. It seems like Compusoft needs to do a better job of testing before releasing updates.
• The interface is a bit archaic. It looks more like a program from 20 years ago than one used today.

Incentivized

Support does not know much about software solutions. As an example, I have struggled for weeks just to set up LDAP that should be fairly simple.

Incentivized

Incentivized

Prior to Synoptix we were using the reporting tool that comes with our ERP system. It lacked the drilldown and comparability functions that make Synoptix the top pick. Further, designing reports and maintaining reports was very labor intensive

Incentivized

• Provides single source of truth regarding financial data
• Affordable solution

Incentivized

• As a reporting tool it has allowed us to make fact based decisions. We have a significant annual cost with relation to our legacy system and Synoptix provides us with the best tool to mine the data that resides in our legacy system.

Incentivized