Simply convenient – degewo emphasises greater efficiency
ProjectIntroduction of a software for consolidation and planning that makes the processes more efficient and more transparent, extensive reporting and analysis options and a rapid reprocessing of the data
LucaNet offers us simply more clarity and efficiency for consolidation. Thanks to the software, our key financial figures can be modelled more transparently and are available at all times. This means we now have time to concentrate on our core business.
About the company
- Housing industry
- Berlin - Germany
degewo AG has implemented a targeted growth strategy in recent years. Included here is also the inclusion of several subsidiaries in the company group. Previous work with MS Excel became too elaborate as a result. With the new consolidation and planning software from LucaNet, the data can now be modelled clearly, rapidly and reliably.
The name degewo stands for a wide-ranging variety of apartment offerings in the German capital. As the leading housing company in Berlin, degewo takes responsibility for the city and its people. The success of the company is reflected in a continuous course of growth since 2005. It became time to look around for suitable software solutions to handle the increasing complexity of company accounting.
"The necessity of readjusting our software arose at the time that several companies were integrated into the company group. In view of the multitude of company subsidiaries and business cases, consolidation with MS Excel was simply no longer feasible," explains Anette Pühl, Consultant for Group Accounting at degewo AG, describing the events that triggered the introduction of a professional consolidation software.
Precise conceptions, rapid implementation
The officials responsible at degewo AG had clear conceptions of the functions that the new software for consolidation, planning and reporting would need to provide. After an intensive selection process, the advantage of the LucaNet software were abundantly clear. "Clearly structured, comprehensible, simple handling and perfectly tailored to our individual requirements – these were the features that particularly pleased us with LucaNet," is how Anette Pühl explains the decision for the software solution from LucaNet.
The data connection took place on the one hand through a direct access to the existing SAP system and on the other hand through the import of totals and balances lists in Excel format. In addition to the cost types, the cost centres, the inter-company information (in the form of a partner dimension) and the data of the fixed assets analysis were also transferred automatically for all of the companies using SAP. Furthermore, the individual economic units per accounting area were to be transferred as an additional dimension in the future. Increased use of LucaNet in the area of planning and controlling is also planned for the future.
Transparent, comprehensible and available at all times
Positive effects can be found in data quality and transparency, as the data are no longer based on the error-prone Excel documents. Each posting can be traced precisely. In particular, the drill down to the individual document level is proving to be very advantageous. All of the figures are now consistent with one another and can be rechecked at any time. Availability is also to be judged as very positive. The necessary data material is available to the employees involved in a clear format, which means that further processing is immediately possible with the financial data available. degewo uses the software in particular for modelling the annual consolidated financial statements that includes an indirect cash flow statement pursuant to DRS 2 and the associated asset, provision and credit analyses.
Proportional consolidation made easy
degewo consolidates in accordance with the accounting standards of the German Commercial code (HGB). The special feature of the process lies in the fact that a proportional consolidation must be undertaken. To facilitate the overall process, degewo uses the available consolidation wizards which are used in pairs for debt consolidation and in pairs and generally for expense and revenue consolidation.
"LucaNet is proving to be a very convenient solution for us. Since we have been using the software, we once again have time for essentials. The numerical data can be reprocessed clearly and rapidly, and numerous options exist for linking the data to follow-up reports. This means that we are better able to comply with completion deadlines," declares Anette Pühl about the added value of consolidation with LucaNet.