Simply easy – automated processes for controlling and consolidation
Case Study Langenscheidt GmbH & Co. KG
Headquarters: Munich (Germany)
Employees: about 100
Project: introduction of a new software with easier and clearer operation for planning, consolidation and controlling; guarantee of transparency in the whole consolidation process
Modules: LucaNet.Financial Consolidation, LucaNet.Planner, LucaNet.Importer
Many companies and high requirements for quality make professional reporting and consolidation indispensable for Langenscheidt GmbH & Co. KG. And not every software can meet the requirements of Langenscheidt Group.
Langenscheidt GmbH & Co. KG operates within a complex network expanding far beyond German national borders. Over 10,000 titles in the area of foreign languages, knowledge and German language, as well as travel and cartography are marketed worldwide. As a long-term global market leader for bilingual dictionaries, the publishing group has also registered a high international growth in the segment of electronic media.
"We need a software in the area of planning, controlling and consolidation, which offers very good evaluation possibilities, which ensures the traceability of separate steps for third parties and which is easy to operate.", says Christian Rieger, Head of Finance Department at Langenscheidt GmbH & Co. KG. "Following the recommendation of our certified public accountant/tax advisor who was convinced about LucaNet, we considered the software solutions. Already after the first presentation conducted by Mr Dominik Duchon (Member of the Management Board at LucaNet AG) we have been impressed with LucaNet.
Due to considerably easier and clearer operation and more efficient possibilities offered by controlling and consolidation tools, it has not been difficult to opt for LucaNet."
Transparency and complexity
After a short introduction period and successful data transfer from the system which had been used so far, LucaNet could be immediately applied with little training effort. The software with intuitive operation makes it possible for users to work more efficiently, as far as monthly reporting and consolidation are concerned. An enormous time-saving can be noticed, for example, in real time currency conversion and transparency of book entries in an integrated accounting journal. Continuous period presentation is especially beneficial for a comparison of 35 companies.
The scope of LucaNet software operation greatly boosts the flexibility and efficiency of specialised reports. An increased level of quality in accounting was facilitated, in particular, thanks to better evaluation possibilities, as well as clear and comprehensible presentation of individual consolidation steps.
"The application of LucaNet has proved really successful: Complex relations are clearly reproduced and consolidation procedures are shown transparently. As the one responsible, this degree of transparency makes me feel absolutely safe in my decisions."
Christian Rieger, Head of Finance Department
Langenscheidt GmbH & Co. KG
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