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Overview

What is Lucanet?

LucaNet has been synonymous with intelligent software solutions and professional expertise in consolidated financial statements and controlling since 1999. Our aim is to simplify your day-to-day processes with our financial performance management software. No matter the size of your company…

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Recent Reviews

TrustRadius Insights

LucaNet has proven to be an invaluable tool for the financial consolidation process. Users have praised its ability to automate the …
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What is Lucanet?

LucaNet has been synonymous with intelligent software solutions and professional expertise in consolidated financial statements and controlling since 1999. Our aim is to simplify your day-to-day processes with our financial performance management software. No matter the size of your company and…

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Product Details

What is Lucanet?

LucaNet has been synonymous with intelligent software solutions and professional expertise in consolidated financial statements and controlling since 1999. Our aim is to simplify your day-to-day processes with our financial performance management software. No matter the size of your company and what industry you operate in, we can provide you with a tailored solution. Over 2,000 customers in more than 50 countries are already profiting from our user-friendly software and professional consulting.

Lucanet Technical Details

Operating SystemsUnspecified
Mobile ApplicationNo
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Reviews and Ratings

(3)

Community Insights

TrustRadius Insights are summaries of user sentiment data from TrustRadius reviews and, when necessary, 3rd-party data sources. Have feedback on this content? Let us know!

LucaNet has proven to be an invaluable tool for the financial consolidation process. Users have praised its ability to automate the consolidation process, reducing reporting time and increasing transparency. By allowing for balance planning using booking rules on P&L accounts and offering seamless Excel integration, LucaNet empowers users to easily set up initial reporting and work independently from consultants. The software's top-notch customer support, easy-to-understand interface, and strong performance with existing accounting programs have garnered positive feedback from users. With LucaNet, generating clear and quick consolidated financial statements becomes effortless, along with various analysis options that enhance transparency. It is highly recommended for companies with multiple legal entities, as it simplifies the production of group accounts for international companies and assists with foreign currency translation and reporting. Furthermore, LucaNet saves time and money by replacing Excel for group accounts, providing a complete audit trail for confidence in reported results while solving the problem of not having a single source of truth and creating standardized reports. This versatile software also enables users to generate business and liquidity plans, analyze deviations, import group report texts, harmonize reporting across geographically diverse groups without implementing a global ERP system, and benefit from incredible drill-down capabilities. Overall, LucaNet streamlines processes such as month-end close, forecasting, manual work reduction, Excel sheet minimization, intercompany reconciliation improvement, consolidation automation for significant time savings, quicker closing processes with more reliable figures, cost center analysis, regulatory reporting support, reliability enhancement, safety assurance, speed acceleration, stain removal optimization, dashboard efficiency improvement.

User-Friendly and Easy to Navigate: Users have consistently praised the software for its user-friendly interface and easy navigation. Many reviewers have stated that they found it intuitive and standardized, making it effortless to perform tasks.

Quick Performance and Loading Times: The quick performance and loading times of the software were highly appreciated by users. Several reviewers have mentioned how this feature has significantly improved their efficiency in completing tasks.

Helpful Automated Apps: Once correctly implemented, the automated apps within LucaNet have been a valuable asset for users. These apps have helped unify and stabilize internal reporting processes, as mentioned by multiple reviewers.

Reporting Functions: Some users have found the reporting functions in LucaNet to be imperfect and still relied on Excel reporting. They felt that the software's reporting capabilities were limited and lacked some advanced features, forcing them to export data to Excel for more comprehensive analysis.

Customizable Dimensions: There is a desire among users for the ability to add additional customizable dimensions in LucaNet. Some users mentioned that the existing dimension structure was not sufficient to meet their specific business needs and requested more flexibility in defining dimensions according to their organization's requirements.

Lack of Descriptive Information: Users complained about the lack of descriptive information for scripts and apps in LucaNet, making it difficult to understand their function. This lack of documentation hindered users' ability to utilize these features effectively, as they had to rely on trial-and-error or seek external assistance for guidance.

Users have provided the following recommendations for using Lucanet:

  1. Activate the Excel plug-in and utilize Excel formulations to create dashboards. This allows for efficient data visualization and analysis within familiar Excel spreadsheets.

  2. Consider Lucanet as an excellent solution for replacing manually produced group accounts in Excel. It provides a more streamlined and reliable approach to consolidating financial data.

  3. Utilize Lucanet to consolidate the accounts of companies that do not use a common accounting software application. This helps standardize financial reporting processes and ensures accuracy across different systems.

In addition, users recommend consulting with a Lucanet insider before implementation, as customization options are available. There are also various apps within Lucanet that can enhance functionality.

Reviews

(1-1 of 1)
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Score 8 out of 10
Vetted Review
Verified User
Incentivized
We have been using Lucanet for our consolidation and external reporting. Our global finance team administers the software and assures accurate group reporting. Every local entity has their own account to upload data to view their local financial statements. Most people within the finance team have a view-only account. It is easy to build your legal consolidation structure into Lucanet which makes Lucanet a great tool for bigger corporations as well.
  • 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
  • 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
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.
Budgeting, Planning, and Forecasting (4)
75%
7.5
Long-term financial planning
70%
7.0
Financial budgeting
80%
8.0
Forecasting
60%
6.0
Management reporting
90%
9.0
Consolidation and Close (7)
58.57142857142857%
5.9
Financial data consolidation
80%
8.0
Journal entries and reports
80%
8.0
Multi-currency management
90%
9.0
Intercompany Eliminations
80%
8.0
Minority Ownership
N/A
N/A
Local and consolidated reporting
80%
8.0
Detailed Audit Trails
N/A
N/A
Financial Reporting and Compliance (5)
52%
5.2
Financial Statement Reporting
90%
9.0
Management Reporting
80%
8.0
Excel-based Reporting
90%
9.0
Automated board and financial reporting
N/A
N/A
XBRL support for regulatory filing
N/A
N/A
Analytics and Reporting (6)
33.333333333333336%
3.3
Personalized dashboards
70%
7.0
Color-coded scorecards
N/A
N/A
KPIs
60%
6.0
Cost and profitability analysis
70%
7.0
Key Performance Indicator setting
N/A
N/A
Benchmarking with external data
N/A
N/A
Integration (3)
60%
6.0
Flat file integration
90%
9.0
Excel data integration
90%
9.0
Direct links to 3rd-party data sources
N/A
N/A
BI Standard Reporting (3)
N/A
N/A
Pixel Perfect reports
N/A
N/A
Customizable dashboards
N/A
N/A
Report Formatting Templates
N/A
N/A
Ad-hoc Reporting (4)
22.5%
2.3
Drill-down analysis
90%
9.0
Formatting capabilities
N/A
N/A
Integration with R or other statistical packages
N/A
N/A
Report sharing and collaboration
N/A
N/A
Report Output and Scheduling (4)
N/A
N/A
Publish to Web
N/A
N/A
Publish to PDF
N/A
N/A
Report Versioning
N/A
N/A
Report Delivery Scheduling
N/A
N/A
Data Discovery and Visualization (3)
N/A
N/A
Pre-built visualization formats (heatmaps, scatter plots etc.)
N/A
N/A
Location Analytics / Geographic Visualization
N/A
N/A
Predictive Analytics
N/A
N/A
Access Control and Security (4)
N/A
N/A
Multi-User Support (named login)
N/A
N/A
Role-Based Security Model
N/A
N/A
Multiple Access Permission Levels (Create, Read, Delete)
N/A
N/A
Single Sign-On (SSO)
N/A
N/A
Mobile Capabilities (3)
N/A
N/A
Responsive Design for Web Access
N/A
N/A
Mobile Application
N/A
N/A
Dashboard / Report / Visualization Interactivity on Mobile
N/A
N/A
  • Provides single source of truth regarding financial data
  • Affordable solution
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