Customer Story
After Sonic Suisse joined a publicly listed healthcare group, the finance team had to adapt to a much tighter reporting schedule. Consolidations that once took weeks in Excel now needed to be completed within eight business days. Learn how Sonic Suisse overcame this challenge with Lucanet.
8 days
Monthly IFRS reporting: From several weeks
Sonic Suisse operates a nationwide network of medical laboratories across Switzerland. The company is part of the international Sonic Healthcare Group, one of the world's leading providers of medical diagnostic services.
Lucanet is essential for our reporting. With the consolidation of 40 entities under IFRS, it would be impossible for us to report without it.
Victoria Meunier
Group Consolidation and Reporting Manager
Before implementing Lucanet, Sonic Suisse managed its group consolidation entirely in Excel. "It took several weeks because we had a lot of intercompany transactions that needed to be eliminated," explains Roxane Mentha, who has worked in the finance department at Sonic Suisse for over a decade. "It was quite a fastidious process."
Things became even more complicated when Sonic Suisse joined the publicly listed Sonic Healthcare Group. Suddenly, the finance team had to meet significantly tighter reporting deadlines. Monthly IFRS reports had to be delivered within eight business days. Relying on Excel for consolidation would not allow them to meet the new timeline.
Today, Lucanet supports Sonic Suisse’s entire consolidation and reporting process. Each month, the finance team consolidates around 40 entities within the Swiss subgroup and prepares IFRS reports for the parent company – all within eight days.
Many benefits beyond consolidation
The platform supports performance dashboards, fixed asset tables that track movements during the period, and budgeting across entities.
"We have a budget for each entity in the tool. We can then analyze it in an aggregated view by region or subgroup," explains Victoria Meunier, Group Consolidation and Reporting Manager.
For new users, the learning curve has been short
Lucanet has also proved valuable as Sonic Suisse expanded. The company has acquired additional entities with different ERP systems and finance teams. New teams have been able to adopt Lucanet quickly.
“After just a few hours of training, I was able to understand the basic functionalities,” says Victoria Meunier. “After three weeks of using it, I could do consolidation entries myself, import and export data, and use the Excel add-in.”