Legacy finance tools don’t just slow you down.
They cost money, time, brain space, and the occasional Friday afternoon. In our previous blog post, we unpacked the often-hidden operational and strategic costs of commitment to outdated tools. For finance teams across Europe, the symptoms are familiar: siloed data, month-end close delays, inflexible planning cycles, and compliance processes that always seem one step behind.
Understanding these costs is only the beginning.
The real cost of legacy tools: Complexity adds up
Legacy tools aren’t just outdated; they’re expensive to maintain and difficult to scale. And the costs don’t just show up on a software invoice.
Direct costs include
- License and support fees for multiple disconnected systems · Custom-built reporting tools or one-off integrations
- IT support to patch or maintain fragile workflows
But the indirect costs often run deeper
- Hours lost to manual data reconciliation
- Time-consuming audit prep due to inconsistent data
- Spending more time collecting data than analysing it
- Delays in decision-making due to old or inaccessible reports
When planning and reporting workflows rely on spreadsheets, scattered tools, and manual effort, complexity becomes the status quo.
Here’s the thing: complexity doesn’t scale.
It doesn’t support the level of financial agility today’s businesses need.
Small inefficiencies become large liabilities.
Consider a finance team responsible for reporting across several entities in different jurisdictions. When using legacy tools, the team often works in silos to consolidate spreadsheets, navigate version control issues, and scramble to meet internal or investor deadlines. This method carries a high risk of error and an even higher opportunity cost, as the finance team is preoccupied with validating data rather than driving strategy.
Take this scenario and multiply it across months, teams, and compliance cycles…the cost compounds quickly. At that point, you’re not just debating a €15k subscription, you’re counting the cost of inefficiency across the year.
How Lucanet changes this: One platform, fewer compromises
Lucanet helps finance leaders bring costs under control by simplifying the entire financial management process.
Fewer systems to maintain.
Less reliance on manual fixes.
More strategic value delivered in less time.
Here’s how Lucanet lowers the total cost of ownership:
1. Out-of-the-box automation
Lucanet automates time-consuming processes like consolidation, currency translation, intercompany reconciliation, and financial close activities. This reduces manual workload, shortens close cycles, and frees up teams to focus on value-adding tasks.
2. One unified platform
Instead of juggling multiple tools for consolidation, planning, ESG, and reporting, Lucanet provides a single cloud-based platform with integrated workflows. Fewer systems mean lower IT overhead, reduced risk of error, and faster user adoption.
3. Fast, low-effort implementation
With more than 300 integration-ready interfaces and minimal customization required, Lucanet deploys quickly. No lengthy and costly IT projects required to get everything up to speed. Another upside? Less downtime and faster time-to-value.
4. Cloud-first scalability
Lucanet scales with your business. Whether you’re adding entities, acquiring new companies, or adapting to regulatory change, the platform grows with you. All with zero hidden costs or the need to rebuild workflows from scratch.
5. Reduced reliance on consultants
Thanks to its intuitive interface and self-service capabilities, Lucanet empowers finance teams to manage the platform independently. That means less spending on external support, and more flexibility to adapt on your terms.
Accelerating ROI: Value from day one
Finance is not just about saving money (a nice-to-have, but not a requirement). It’s about unlocking value faster.
Lucanet accelerates ROI by giving finance teams the tools to work smarter from day one. Implementation is fast. Learning curves are short. And the results are immediate.
Here’s what you can expect:
- Shorter close cycles with automation that removes bottlenecks
- Audit-ready reports that reduce stress and improve accuracy
- Connected financial planning that eliminates manual forecast roll-ups
- Real-time insights that empower better decision-making
- Scenario planning that helps you prepare for what’s next
Since Lucanet is purpose-built for the office of the CFO, it aligns closely with how finance teams actually work. No need for extensive retraining or major changes to your operating model. Our goal is to make sure you can get up and running as fast as you can, enabling your team to start seeing benefits from day 1.
Real-world results: Faster, smarter finance
Finance teams across industries have already experienced the impact of moving to Lucanet. Barghest Building Performance (BBP), a Singapore-based energy solutions provider operating across nine countries, needed a finance solution that could keep pace with its rapid expansion. As project complexity increased, so did the need for accurate consolidation, streamlined forecasting, and fast reporting across geographies.
Before Lucanet, BBP’s finance team struggled with time-consuming processes and limited visibility across its portfolio. Manual workarounds slowed decision-making, and tracking actual vs budgeted performance across projects was error-prone and inefficient.
With Lucanet, BBP unified its financial processes into a single platform, which enabled detailed drilldowns to the transaction level and eliminated fragmented reporting. The team now benefits from seamless intercompany eliminations and integrated budget planning, all directly connected to QuickBooks through a standard connector.
Lucanet’s intuitive slice-and-dice functionality makes it easy for BBP to trace financials across complex project structures, accelerating audits and freeing up time for deeper analysis. With centralized data and built-in forecasting tools, BBP can now compare project performance against targets in real time, helping leadership manage cash flow and report confidently to stakeholders.
“We now have the infrastructure to provide value-adding insights to the entire organization,” said Ong En Ping, BBP’s CFO.
With Lucanet, BBP has gained:
- Faster financial reporting and deeper analysis capabilities
- A unified view of budgets, forecasts, and actuals across all projects
- Confidence in audit readiness and investor reporting
BBP’s move to Lucanet exemplifies how the right finance platform can create operational flexibility, reduce risk, and support strategic growth. It’s a powerful move for companies aiming to scale with precision and clarity.
More value, less complexity
Modern finance functions shouldn’t be bogged down by inefficiency. With Lucanet, they don’t have to be. By reducing total cost of ownership, speeding up ROI, and simplifying everything from planning to reporting, Lucanet empowers CFOs and finance teams to lead with clarity and confidence.
If your finance tools are holding you back, it’s time to switch to a solution built for today’s challenges that can withstand tomorrow’s growth.
Ready to simplify?
Book a Lucanet demo to see how others have simplified their finance processes to reduce costs, streamline reporting, and make more powerful moves.
