Customer Story
How IGEL Technology GmbH is taking its financial processes to a new level with Lucanet: Thanks to automated data integration, efficient financial consolidation, and integrated planning, the company creates more transparency, reduces manual effort, and gains the flexibility it needs to handle complex international corporate structures.
Headquartered in Bremen, Germany, IGEL Technology GmbH is a global provider of endpoint management and software solutions. The company operates in a dynamic, international environment with complex corporate structures and high demands for transparency, speed, and flexibility in finance.
With Lucanet, we have a solution that has taken our financial processes to a new level. In particular, automating data integration and financial consolidation saves us a significant amount of time and reduces manual sources of error. At the same time, we benefit from a high level of transparency across all companies, as well as the flexibility to react quickly to changes in our corporate structure.
Thomas Frey
Director & CFO at IGEL Technology GmbH
Before Lucanet was rolled out, IGEL was faced with the typical challenges of a company growing internationally: different ERP systems, increasing complexity in the group structure, and a high level of manual effort in financial consolidation, planning, and reporting. Integrating individual financial statements, mapping parallel accounting standards, and making flexible adjustments during structural changes took up a lot of time and were prone to errors in particular. The goal was therefore to establish a standardized, automated, and scalable solution that significantly increased both transparency and efficiency across all financial processes.
Automated data integration and reliable data basis
At IGEL Technology GmbH, individual financial statements are imported automatically from the respective ERP systems – initially from the SAP Business Suite and now from Microsoft Dynamics 365. The import is fully automated and scheduled as an overnight task, ensuring that an up-to-date and consistent dataset is always available and reducing manual effort.
Efficient financial consolidation despite complex structures
Financial consolidation in Lucanet is completely automated, based on the integrated database. Complex requirements such as subgroup structures and parallel group structures are also mapped reliably. A decisive success factor here is the close cooperation with Nexia GmbH, which provides professional and technical support for the implementation as well as for continuous optimization.
Integrated planning and forecasting at the group level
At IGEL, Lucanet serves as the platform for integrated planning. Both annual plans and forecasts are created, supplemented by end-to-end balance sheet planning and cash flow analysis.
Informed decisions through flexible reporting
Reporting is carried out both via the Lucanet Excel add-in and directly in the system. In addition to standard reports, various structures are used, including the nature of expense method and the cost of sales method, as well as balance sheet and P&L structures according to US GAAP.
Profit center management and structural flexibility
In addition, a detailed profit center structure was set up. Currency translation is system-supported, including historical exchange rates.