What 600 finance professionals had to say about consolidation software, and why it matters

Some finance teams close on time every reporting period with clean numbers and a clear audit trail. Others are still chasing data from subsidiaries and fixing formatting errors past their deadlines.

The difference is usually not about how hard people work. It's usually about the setup: the processes, the tools, and if their consolidation software can keep up when the deadline arrives.

Every year, BARC, one of Europe's leading independent analyst firms, surveys hundreds of finance professionals about the consolidation software they use. This produces one of the most comprehensive peer-based evaluations currently available on the market.

This article explains the findings of the 2026 survey and what Lucanet users reported about their experience with our consolidation software.

What the survey measures and why it matters

If you're evaluating consolidation and financial planning solution, one question matters most: How will this solution perform when my team is using it every day? The BARC Financial Consolidation & Group Accounting Survey 26 is built to answer exactly that. 

This year's edition is the third and largest to date: 600 finance professionals across 36 countries have evaluated 15 vendors across 25 KPIs, covering everything from ease of use and implementation success to audit traceability and data integration. Vendors are ranked within their peer groups, ensuring that you're comparing similar types of businesses.

Of the 15 vendors evaluated, Lucanet had the largest sample of respondents in the entire survey, with 37 users. This makes the following not just strong results, but the most robust in the study.

What Lucanet users reported

Across the Compact and Midsize Deployments peer group, Lucanet earned 4 top-ranked positions and 8 leading positions.

But the numbers that carry the most weight are not the rankings. They are the ones that came from what users said had changed in their day-to-day work after implementing Lucanet:

• 95% of our users are satisfied with Lucanet
• 100% of surveyed users achieved an acceleration of group consolidation and preparation of financial statements
• 100% achieved better quality of consolidation results
• 94% achieved shorter and more frequent consolidation cycles
• 94% achieved better integration of group consolidation with financial planning
• 95% rate their implementation project as very good or good

As one respondent in the survey puts it: 

They are not based on projected benefits or vendor estimates; they reflect what users reported having actually achieved. The BARC survey methodology measures satisfaction after implementation, when initial enthusiasm has worn off and teams are dealing with real consolidation cycles under time pressure. A 95% satisfaction rate at that stage is a strong signal that our solution holds up in day-to-day use and delivers real value.

Where Lucanet stands out and what you can learn from it

Lucanet ranks #1 in four key areas:

• #1 Predefined Connectors
• #1 Traceability & Auditability
• #1 Ease of Use
• #1 User Experience

In addition, Lucanet achieved eight leading positions, including Data Entry/Upload, Consolidation Functionality, Currency Management, and Intercompany Reconciliation.

However, rankings only tell you so much. But what do these results actually mean for your consolidation process?

1. Get clean data on time

Many delays happen before consolidation even starts. Data arrives late, formats don’t match, and validation takes time.

Strong ratings in this area point to a more stable process. Data comes in on time, in the right structure, and with fewer errors.

Lucanet ranks as a leader in Data Entry/Upload, with 95% of users rating its data collection capabilities as very good or good. Strong source system connectivity (#1 for Predefined Connectors in the peer group) means data comes in on time, in the right structure, with fewer errors to chase.

That means less time fixing inputs, and more time analyzing results.

2. Spend less time on audits

If the solution provides a clear audit trail, questions like “Where does this number come from?”, “Who changed it?”, and “Why?” are easy to answer. If not, teams end up searching across files, emails, and spreadsheets – often under deadline pressure.

Lucanet ranks #1 in Traceability & Auditability, with a clear lead over the peer group average.

Additionally, 100% of our users report improved transparency and traceability. In practice, this means having more control over your data and spending less time on audits.

3. Get things done without IT support

A consolidation tool only works if finance teams can use it without friction. If every change requires technical support, processes slow down and bottlenecks build up.

Lucanet ranks #1 in Ease of Use, with 92% of users rating it very good or good for business users.

High usability reduces training effort and limits dependency on a few key users. Teams can manage changes themselves and run the process consistently across entities.

4. Accelerate your group consolidation and financial statement preparation.

The close does not have to be the most stressful part of the reporting calendar.

In the BARC survey, 100% of Lucanet users reported achieving an acceleration of group consolidation and preparation of financial statements. 94% achieved shorter and more frequent consolidation cycles.

The results: More time for review, earlier insights, and fewer last-minute adjustments.

5. Stay in control of complex group structures

As group structures evolve, complexity increases: new entities, new reporting views, and changing requirements.

Lucanet scores above the peer average in Modeling Flexibility and Consolidation Functionality.

A system that can handle this without workarounds keeps everything in one place and reduces the need for parallel processes outside the tool.

Get the BARC survey highlights

If your team is still working around the limitations of your current tool, take a close look at the survey data. It shows, in measurable terms, what finance teams at comparable organizations are achieving. The gap between where you are and where you could be is probably smaller than it looks.

The BARC results show that Lucanet is a strong fit for mid-sized organizations on key indicators that matter a lot for finance teams that need:

• A centralized, automated consolidation process with full audit traceability
• An easy-to-use system that finance teams can manage without heavy IT support
• Fast implementations with measurable business impact from day one

Explore the full results of the BARC Financial Consolidation & Group Accounting Survey 26 – including detailed KPIs, user feedback, and a comparison across vendors:
 

Access the BARC survey highlights on Lucanet

Related posts:

IFRS 18: All changes at a glance

Lucanet leads SPARK Matrix™ for Intercompany Accounting Software

Leave spreadsheets behind: How modern finance teams can move smarter