Simply excellent – Hamberger Industriewerke GmbH professionalises its reporting
Hamberger Industriewerke GmbH
ProjectIntroduction of a software product that combines consolidation and planning in a single system; straightforward and rapid display of indicators and provision of evaluations; automatic generation of the profit and loss statement and balance sheet facilitated by posting and planning rules
We have come to realise that large consolidation programs such as SAP are simply too complex for us when it comes to monthly reporting. With LucaNet, we now using a software solution that combines planning and consolidation. The software is particularly exceptional for its speed and simple handling. We also count among its additional advantages the options for analysing and evaluating key figures and the automatic generation of P&Ls and balance sheets with the aid of posting and planning rules. We were also convinced by its rapid, simple implementation and the truly very short training period.
About the company
- Wood and plastic processing
- Stephanskirchen - Germany
A software solution that combines consolidation and planning – this is how Hamberger envisioned its new software tool. The company's decision in favour of LucaNet is therefore spot-on: monthly reporting is now easy to accomplish. The numerous options for evaluation of indicators make it possible to transparently represent the market situation and successfully steer the company into the future.
Hamberger has been synonymous with expertise in wood since 1866. The family company, steeped in tradition, was originally founded as a brickworks and sawmill in Rosenheim, Bavaria. In its history spanning more than 140 years, the company has grown into Germany's leading parquet manufacturer. In addition to the company's Flooring business area, including parquet, laminate, cork and designer flooring, the Hamberger Group also encompasses the areas of Sports Flooring, a sawmill, agriculture and forestry operations, and is also Europe's largest manufacturer of toilet seats.
Internationalisation of the group has proceeded at a steady pace over recent years, including the establishment of numerous subsidiaries. This brought with it the necessity of generating monthly reporting for consolidation purposes.
"Large consolidation programs such as SAP are simply too complex for us when it comes to monthly reporting. With LucaNet, we now use a software solution that is perfectly suited to both planning and consolidation. The software stands out primarily due to its speed and ease of use", reports Regina Kotter, Head of Group Accounting and Credit Management at Hamberger Industriewerke GmbH.
A flexible, needs-oriented software solution
The data import from MS Excel was accomplished smoothly and rapidly. The balances were imported at the business area level along with partner information. The system was up and running quickly, which made the major advantages of the software quickly apparent.
"The particular feature of the LucaNet software is its high degree of application flexibility. I have rarely worked with a software as user-friendly as this. Minimal instruction by a LucaNet staff member sufficed, and I was then immediately able to independently perform the tasks I wanted to. Compared to other IT systems, this represents a massive advantage. The program is absolutely self-explanatory for first-time users", says Regina Kotter about LucaNet software.
In practical terms the company benefits from automatic generation of the profit and loss statement and the balance sheet, facilitated by accounting and planning rules. The software is therefore used to produce the consolidated financial statements as well as the cash flow statement. The numerous options for analysis and evaluation of indicators now enable production of transparent reporting on a monthly basis.
"The introduction of the software has had very positive effects on our data quality. Manual errors are eliminated thanks to transparent data comparison with the precursor system. Data overview can also be controlled with great flexibility and according to needs. If our management board wants to see a particular financial indicator or the value of a specific item on the balance sheet, we can extract it quickly and easily from LucaNet", says Regina Kotter in explaining the ways in which the company's processes have been optimised thanks to introducing the software.
Efficient organisation of reporting
Generation of comprehensive reporting is especially crucial for the Hamberger Group. Individual reports can be generated directly from the software. The straightforward and well-structured menu navigation guides users through this area in a user-friendly way.
"Integration of the individual reports proceeded rapidly. With just a half-day of training we were able to independently transfer the reports to Excel, further develop them and integrate the resulting reports into the monthly financial statement. Our management board is very satisfied", says Regina Kotter in summarising the company's reporting process.