Name: Lucanet
Rating: 7.8 (3 reviews)
Author: Lucanet

April 14, 2020

Lucanet: clean and intuitive dashboards for external reporting

Verified User

Analyst in Finance and Accounting

Food & Beverages Company, 5001-10,000 employees

Score 8 out of 10

Vetted Review

Verified User

Incentivized

Use Cases and Deployment Scope

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.

Pros and Cons

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

Likelihood to Recommend

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.

Lucanet Feature Ratings

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

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

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

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

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

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

Return on Investment

Provides single source of truth regarding financial data
Affordable solution

Alternatives Considered

Oracle Financial Consolidation and Close Cloud

Other Software Used

Adaptive Insights, a Workday company, Oracle Financial Consolidation and Close Cloud, Oracle Financials

Operating Systems	Unspecified
Mobile Application	No

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