Consolidation, planning, and reporting in an all-in-one package
Success story Krannich Solar GmbH & Co. KG
Krannich’s international growth and the greater requirements placed on the company by its house banks was stretching Excel to its limits as a working tool. A better solution was needed to prepare financial data efficiently and create reliable reports quickly.
How Krannich uses LucaNet software:
- Consolidation in accordance with HGB and the German Financial Standard Reform Act (BilMoG)
- Consolidated financial statements across 24 subsidiaries
- Synchronous working across the Group
LucaNet is an effective solution for us and has simplified our controlling processes considerably, while meeting our high standards with regard to quality and transparency at all times.
Establishing a solid foundation for internationalization
The increasing internationalization of the company and the greater requirements placed on it by its house banks triggered the need for a professional accounting software program. “We only worked with MS Excel in the past, like many other companies in our industry. As a result, we had no overview of our international subsidiaries’ financial figures, we were only able to minimally map their consolidation, and we didn’t have a structured or reliable process,” reports Birgit Gänzle, Head of Controlling at the Krannich Group.
Synchronous working across the Group
LucaNet now ensures greater professionalism in the company’s preparation of consolidated financial statements and business planning. The system is incredibly intuitive and clearly laid out, thereby making consolidation and planning much easier. Figures can be processed transparently and are available to the whole Group for the purposes of extensive analyses. Everyone involved across the Group has the same view, which makes work significantly more efficient and at the same time boosts employee satisfaction. This organized process is particularly beneficial in that it has greatly improved the quality of the data. Unnecessary errors are avoided when collecting and reconciling figures.
An added benefit for reporting too
“Once the reporting function has been completely set up, we will be able to rely on a very quick reporting process, mainly for external purposes. Besides this, the management board and the individual branch managers can also view LucaNet and access the figures at any time,” says Gänzle. Both LucaNet.Excel-Add-In and LucaNet.Excel-Reporting are used for reporting. The integration of individual reports went very smoothly. “We can wholeheartedly recommend LucaNet for the volatile conditions of our industry. The transparency and quality of data are guaranteed thanks to the software,” adds Gänzle.
How LucaNet software benefits Krannich:
- Company-wide availability of data
- No more errors when recording figures
- Consolidated financial statements without Excel