The solution
A secure solution for international requirements
It was not long before Lucanet was chosen. Decisive advantages include the integration of planning and consolidation into one module and the taking into account of complex currency translation requirements. Lucanet was implemented in no time and Polytan employees were trained up on the software. The data import also ran smoothly, even though the entire group works exclusively with individual reporting packages. The entire balance sheet, P&L, as well as the fixed asset and provision schedule with all relevant controlling data on product groups, sales and material data, countries and sales regions were quickly imported. And thus previous entries were brought up to date.
At Polytan, planning for the individual companies is decentralised. However, planning for the entire group is organised in a centralised fashion via the controlling department. And all this is carried out in an entirely seamless manner with the detailed plans of all company divisions. Lucanet is now also used for multilevel consolidation in accordance with the German Commercial Code (HGB) across subgroups to the main group. The software’s consolidation wizards are able to provide the required support, be it for elimination of intercompany debt or the elimination of intercompany income and expense. Double currency translation now occurs at just the “press of a button”. This is because a fictitious company was created for this purpose, in which the aggregated figures (in dollars) are combined and translated into euros. Smart solutions for clear figures on an international scale.
