Name: The Lucanet CFO Solution Platform
Uploaded: 2024-06-26T11:45:56.000Z
Duration: 53 s
Description: The Lucanet CFO Solution Platform

Help Desk

Web and Video Conferencing

Customer Support

Mind Mapping

Mobile App Development

Push Notifications

Development

Audit

Business Intelligence (BI)

Calibration Management

Collaboration

Embedded Business Intelligence (BI)

Org Chart

Procurement

Enterprise

Accounting

Finance and Accounting

Applicant Tracking

Corporate Learning Management

Credentialing

HR Management

Payroll

Professional Employer Organizations (PEO)

Talent Intelligence

Talent Management

Workforce Analytics

Workforce Management

Human Resources

C/C++ Integrated Development Environments

Cloud Storage

Compliance Consulting

Cybersecurity Consulting

Data Virtualization

Dynamic Application Security Testing (DAST)

Electronic Data Interchange (EDI)

Fraud Detection

HTML Editors

IT Service Management (ITSM)

Identity Management

Infrastructure-as-Code (IaC)

Integration Platform as a Service (iPaaS)

Managed Print

Network Performance Monitoring

Password Management System

Relational Databases

Remote Monitoring and Management

Software Defined Networking (SDN)

Traffic Switching

Virtual Private Network (VPN)

Virtualization Management

Voice Recognition

Information Technology

A/B Testing

Ad Serving & Retargeting

All-in-One Marketing

Consumer Ratings & Reviews

Content Management

Email Marketing

Heatmap and Session Recording

Landing Page

Marketing Automation

Marketing Resource Management

Mobile Marketing

Presentation

Social Login

Social Media Management

Survey & Forms Building

Video Streaming

Web Analytics

Marketing

Project Management

Professional Services

Customer Relationship Management (CRM)

Sales

Antivirus

User and Entity Behavior Analytics (UEBA)

Security

Auto Repair

Equation Editors

Insurance Agency Management

Legal Research

Library Management

OSS/BSS (Operations Support/Business Support)

Real Estate Property Management

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### Financial Consolidation
Users generally agree that Lucanet's financial consolidation capabilities are a strong point of the software. The ease of consolidating data from various companies with different accounting systems and currencies, along with the ability to generate consolidated financial statements efficiently, has been highlighted as a key benefit. Additionally, users appreciate features like intercompany reconciliation assistance, drill-down functionality, and the ability to export data to Excel seamlessly. While some users have mentioned challenges with historical retracement and transparency of postings, overall, Lucanet's financial consolidation functionality seems to be well-regarded by users for its effectiveness in streamlining the consolidation process and providing accurate reporting.

### Financial Reporting
Users generally praise Lucanet's financial reporting capabilities. The software is commended for its ease of use, flexibility in data configuration, and efficient reporting processes. Many users highlight the quick and simple overview of company structures, the ability to generate various financial statements, and the support for budgeting and forecasting. While some users mention limitations in the reporting functions within Lucanet itself, the overall consensus leans towards the platform's effectiveness in streamlining financial reporting tasks and providing valuable insights for decision-making.

### Budgeting and Forecasting
Users consistently praise Lucanet's budgeting and forecasting capabilities, highlighting its user-friendly interface and the ease of generating monthly reporting, forecast/budget reporting, and cash flow planning. They appreciate the tool's ability to combine financial data from various sources, track budget versus actuals, and provide variance analysis. Additionally, users find it beneficial for consolidation, budget planning, and creating reports for different stakeholders. The flexibility to customize reports, export data to Excel, and the time-saving features for consolidation are also highly valued by users.

### Data Management and Quality
Users consistently praise Lucanet for its robust data management and quality capabilities. They appreciate the ease of importing and exporting data from various systems, as well as the flexibility in structuring and analyzing different types of data. Despite some minor concerns about the user interface and data mapping, users find that Lucanet streamlines the consolidation process and provides a reliable platform for generating accurate and detailed reports. The ability to customize views and compare plan, forecast, and actual data at different levels has been particularly valuable for users, enhancing their overall data management experience.

### Excel Integration
Users consistently praise Lucanet for its robust Excel integration capabilities, highlighting the ease of reporting, budgeting, and data consolidation. The Excel Add-In feature is particularly lauded for its user-friendly interface, making it accessible for both advanced Excel users and beginners. Despite some minor drawbacks in the reporting functions within Lucanet itself, users find Excel integration to be a valuable asset in streamlining data analysis and export processes. The flexibility and efficiency of Lucanet's Excel integration feature have garnered positive feedback, with users noting significant time savings and improved data accuracy compared to manual Excel-based processes.

### ERP Integration
Users generally praise Lucanet for its strong ERP integration capabilities. They appreciate the flexibility it offers in integrating with different ERP systems, allowing for easy import and export of data. However, some users have noted that the efficiency of Lucanet's integration heavily relies on the quality of data from the underlying ERP systems. Despite this, the overall consensus leans towards the positive side, with users highlighting Lucanet's adaptability to varying environments and its ability to streamline processes, particularly in the areas of data consolidation and reporting.

### Financial Planning
Users generally believe that Lucanet's financial planning capabilities are a strong point of the software. Reviewers consistently praise the software for its ability to streamline budget planning, group consolidation, and reporting processes within the finance department. The tool's user-friendly interface and flexibility in generating various financial reports and forecasts have been highlighted as key strengths. Additionally, users appreciate the ease of data sharing and the software's capacity to handle multiple data sources efficiently. Despite some minor bugs and limitations in operational planning, users find Lucanet to be a reliable and valuable asset for financial planning and analysis.

### Accounting and Compliance
Users generally praise Lucanet for its robust accounting and compliance functionalities, particularly emphasizing its effectiveness in intercompany reconciliation, data mapping, and generating standardized financial reports. While some users find the drilldown feature occasionally cumbersome due to the volume of transactions displayed, the overall consensus is that Lucanet streamlines the consolidation process across diverse accounting systems and enhances data analysis capabilities. Additionally, users appreciate the ease of exporting data to Excel and the time-saving benefits realized in financial reporting and budget planning tasks. Recommendations highlight Lucanet as a valuable tool for replacing manual Excel-based processes and facilitating efficient IC reconciliation on a regular basis.

### Cash Flow Management
Users consistently highlight Lucanet's cash flow management as a standout feature, citing its ability to automate detailed and meaningful cash flow statements with minimal adjustments required. The integration of cash flow within the platform has significantly improved the quality of financial reporting, streamlined consolidation processes, and expedited the overall reporting timeline. Additionally, the user-friendly interface and flexible Excel interface have contributed to a positive experience in managing cash flow within Lucanet.

### Financial Analysis
Users appreciate Lucanet's financial analysis capabilities, noting its ease of use, efficient intercompany reconciliation, and robust reporting features. The software streamlines the consolidation process, providing a reliable platform for financial review meetings and forecasting. Despite some minor drawbacks in data drill-down, the overall consensus is that Lucanet excels in enhancing financial analysis tasks within organizations.

### Internal Controls and Audit
Users consistently praise Lucanet's internal controls and audit capabilities, highlighting the system's ability to streamline internal reporting processes, facilitate consolidation management, and provide a robust audit trail. The software's flexibility in adapting to diverse ERP environments and its efficient handling of intercompany eliminations and reconciliations have garnered positive feedback. Additionally, users appreciate the ease of generating professional reports with drill-down features and the responsive customer support that aids in resolving queries promptly. The general sentiment among users is that Lucanet's internal controls and audit functionalities contribute significantly to enhancing operational efficiency and ensuring accurate financial reporting.

### Corporate Finance
Users unanimously praise Lucanet's finance capabilities. They highlight the software's ease of use, integrated approach, and functionality tailored for finance departments. Reviewers appreciate how Lucanet streamlines reporting, consolidation, and financial analysis tasks, allowing for efficient data management and accurate decision-making. The software's ability to centralize finance data, facilitate auditing, and enhance financial visibility receives high acclaim from users. Additionally, users note that Lucanet significantly reduces manual Excel manipulation, enabling finance professionals to focus on ensuring accounts accuracy and providing valuable business support.

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.

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.

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.

Budgyt is a dynamic FP&A platform that simplifies budgeting, forecasting, and reporting. It offers a single source of truth for CFOs and finance teams to integrate financials, streamline processes, and manage multiple departments.

Non-Profit - Pro

Please contact for pricing

Budgyt

On premise Install

Cloud Planning

Kepion Planning

Lucanet

Corporate performance management (CPM) is related to business intelligence (BI) and is involved with monitoring and managing an organization's performance, according to key performance indicators (KPIs) such as revenue, return on investment (ROI), overhead, and operational costs.

Corporate Performance Management (CPM)

Likelihood to Recommend

Ad-hoc Reporting

Budgeting, Planning, and Forecasting

Consolidation and Close

Financial Reporting and Compliance

Analytics and Reporting

Integration

Drill-down analysis

Long-term financial planning

Financial budgeting

Forecasting

Management reporting

Financial data consolidation

Journal entries and reports

Multi-currency management

Intercompany Eliminations

Local and consolidated reporting

Financial Statement Reporting

Management Reporting

Excel-based Reporting

Personalized dashboards

KPIs

Cost and profitability analysis

Flat file integration

Excel data integration

Lucanet's financial consolidation software, which provides a fully automated process through all consolidation steps and group structures, regardless of complexity.

Lucanet's financial reporting software, designed to deliver timely and accurate information to the appropriate stakeholders for decision-making processes.

Lucanet's ESG reporting feature, used to collect data, analyze information, and produce fully compliant reports at the touch of a button.

Lucanet's disclosure mangaement interface, used to prepare financial or non-financial information, such as annual reports.

the IC reconciliation tool, which enables decentralized reconciliation prior to consolidation and saves those involved at the parent company level from having to tediously search for discrepancies during consolidation.

<div><p>Lucanet is the CFO Solution Platform built for modern finance leaders. By uniting, standardized, compliance-ready insights in one easy-to-use, out-of-the-box SaaS platform, Lucanet’s intelligent solution delivers exceptional time-to-value that enables CFOs to lead with ease. Thousands of customers around the world rely on Lucanet every day for transparent data and intelligenworkflows they need to manage their strategic and reporting needs, make confident decisions, improve productivity, and create strategic value with speed and accuracy. </p></div><div><p> </p></div>

The Lucanet CFO Solution Platform

The Lucanet CFO Solution Platform

Our out of the box, standardized software streamlines processes, reduces complexity, and allows financial teams to perform tasks quickly, accurately and easily.

These activities are designed to assist with both data-driven operational, short-term planning and strategic long term planning

Annual budget for revenue and operating expenses, headcount/compensation, capital expenses, projects, etc.

Combining actuals and budgets, rolling forecasts, driver-based models.

Scenario modeling

Financial or operational modeling of alternate future states and planning for each.

Budget vs. actual or forecast, P&L’s, performance over time, between products etc.

Consolidation of data from multiple entities with currency management, reporting and audit trails.

Consolidating data from several entities into a single statement using US GAAP, IFRS or other standards.

Ability to enter journal entry adjustments and produce reports showing all journal entries for a specific period.

Ability to handle foreign currency conversions during consolidation.

Matching and elimination of intercompany revenue, expenses, and balance sheet accounts.

Minority Ownership

Consolidate financials full or partial ownership of subsidiaries, equity pick-up.

Ability to report against individual business entities and the consolidated umbrella entity.

Detailed Audit Trails

Tracing changes to data and processes that were run.

Financial statements and regulatory filings

Creation and production of balance sheets, income statements, cash flows, other schedules

Tools facilitating creation of internal ad hoc or standard reports.

Ad hoc or formatted reports using MS Excel.

Automated board and financial reporting

Tools to help automate creation of regulatory reports such as SEC filings and board books.

XBRL support for regulatory filing

Support for the XBRL standard reporting format for exchanging financial data.

Dashboards and scorecards for KPI monitoring and benchmarking

Create custom dashboards and reports without the help of IT or administrators.

Color-coded scorecards

Track and analyze performances with interactive, color-coded balanced scorecards.

Select from a library of more than 6,000 key performance indicators, and incorporate KPIs into your planning process.

Cost and profitability analysis provides data for business decision making.

Key Performance Indicator setting

Ability to set key performance indicators for measuring progress towards goals.

Benchmarking with external data

CPI, daily exchange rates, industry KPIs. with scheduled data refreshes.

Ability to integrate with external applications.

Integration of flat files like text documents and comma separated files

Ability to integrate directly with Excel data.

Direct links to 3rd-party data sources

Integration with external applications like ERP, CRM, HCM

BI Standard Reporting

Standard reporting means pre-built or canned reports available to users without having to create them.

Lucanet

Overview

What is Lucanet?