Customer Story
The Georg Nordmann Holding Group (GNH Group) has been a Lucanet customer for two decades and today is one of the first to move to our CFO Solution Platform. The team is migrating its full finance stack to the cloud to build one source of truth, with AI-powered capabilities on the horizon.
10 days faster
Monthly reporting
1 month faster
Annual close
Georg Nordmann Holding is a strong, internationally established and family-owned Group of companies based in Hamburg. Led by the strategic management holding, and with its subgroups NORDMANN and the ROWA GROUP, the group generated in 2025 around 650 million euros turnover in 2025 with around 944 employees and 38 entities in 25 countries across Europe, Asia and North America.
NORDMANN is a leading international Group of chemical distribution companies that markets an innovative product range of natural and chemical raw materials, additives and specialty chemicals from all over the world. The ROWA GROUP is a strong association that sets high standards for polymer materials.
When you move to the CFO Solution Platform, you're not investing in software that solves a single problem. You're investing in a platform that helps address multiple CFO challenges through one integrated environment.
Dennis Wehrmann
Director Group Tax & Accounting
When Dennis Wehrmann, Director Group Tax & Accounting at the GNH Group, joined the company in 2019, the group consolidated its financials only once a year. Even that annual close required significant manual effort, while the resulting output was limited to a consolidated balance sheet, profit and loss statement, and cash flow statement.
The GNH Group reports under German GAAP across three reporting perimeters: the GNH Group itself and the NORDMANN and ROWA subgroups. As a result, every reporting cycle involves three separate consolidations, one of which is subject to audit.
The underlying systems landscape was highly fragmented. SAP R/3 coexisted with local ERP, production and accounting systems across multiple countries. Many of the group's approximately 38 entities operate as distribution businesses with lean finance teams responsible for local bookkeeping and reporting.
Financial reporting relied heavily on Excel templates, resulting in extensive reconciliation efforts, numerous clarification loops with subsidiaries and a largely manual closing process.
One advantage was already in place: Lucanet had been part of the finance landscape since 2005, providing a solid foundation for the transformation of the group's finance function.
The first strategic step was to establish Lucanet as the central reporting layer across the group. Interfaces were implemented between SAP, local accounting systems and Lucanet, creating a standardized reporting structure and a single source of financial data.
The impact became visible quickly. The annual close moved from mid-May to early April. Quarterly reporting, which previously did not exist, became a standard process. Monthly reporting accelerated significantly and is now completed by the 11th working day, including cash flow reporting for every subsidiary.
For many finance organizations, intercompany reconciliation is one of the most time-consuming consolidation activities. Dennis Wehrmann's approach was clear: reconciliation issues should be resolved at source by the subsidiaries themselves.
Following the implementation of Lucanet's Intercompany Reconciliation solution, a substantial portion of reconciliation work was shifted out of Group Accounting. From a group perspective, an effort that previously consumed weeks or even months has effectively been eliminated.
With reporting processes established, the same standardized approach was extended to planning. Subsidiaries now submit budgets through Lucanet using the same chart of accounts as actual reporting, enabling direct comparisons across all three consolidation scopes.
The platform footprint continued to expand. Disclosure Management was introduced across all three consolidation scopes, complemented by Lucanet Tax Compliance and Tax Reporting.
Initially, the entire environment operated on-premises, requiring dedicated servers, software updates and ongoing maintenance. When Lucanet announced its strategic shift toward the cloud, the decision was straightforward. Rather than simply migrating existing applications, the GNH Group chose to move to the CFO Solution Platform.
What connects all initiatives is a common objective: a single source of truth based on one central data foundation, one integrated platform and one cloud environment connected through standardized interfaces.
This vision has guided the group's finance transformation since 2020 and forms the basis for future developments. As Dennis Wehrmann puts it:
"If you don't have a consolidated data lake (single source of truth), there is no point in talking about AI."