Full transparency of financial data
Success story Tengelmann Warenhandelsgesellschaft KG
As part of a strategic realignment, Tengelmann Holding restructured Group consolidation and reporting. With LucaNet, Tengelmann significantly improved flexibility and transparency in the area of finance and controlling.
I'm a huge fan of the software. With LucaNet, we have transparency of the numbers, that is simply unbeatable.
How Tengelmann uses LucaNet software
- Automated consolidation
- Capital consolidation according to HGB
- Monthly reporting
- Plan-actual comparisons
Consolidation at the click of a button
"Our portfolio companies do their own financial statements and then deliver them to us at the holding company via a reporting package. We then consolidate everything in the software into the overall group," Melanie Naglschmidt, Finance Manager at Tengelmann and key user of LucaNet, explains. "The consolidation in LucaNet is almost completely automated and we can subsequently generate all the reports we need, for example, bank reporting or management reporting.” The advantages are clear for Tengelmann. Firstly, there is a cost advantage in comparison to the previous software. In addition, the user-friendliness is much higher and, most importantly, the team in the holding company has a clear overview and transparency concerning the numbers. "We can look at our financials over time in LucaNet and have reliable consolidation at the click of a button. We are all happy that we chose LucaNet," says Naglschmidt.
Less work thanks to cloud solution
Another important thing that Naglschmidt appreciates about LucaNet is the cloud solution it offers. "We don't want to host any software ourselves, but rather purchase everything as a service. And LucaNet.Cloud is perfect for that. This way we don't have to install updates or administer the system. It also makes specifically my work easier, because I can use LucaNet at any time and access it from anywhere. On top of that, the performance is great."