Housing company masters its accounting processes with all-in-one software
Success story degewo AG
In order to serenely master the growing complexity in accounting processes, degewo was looking for software for consolidation, planning, reporting, analysis, and for the further processing of data.
LucaNet offers us simply more clarity and efficiency for consolidation. Thanks to the software, our key financial figures can be modeled more transparently and are available at all times. This means we now have time to concentrate on our core business.
How degewo uses LucaNet software:
- Possibilities for reporting and analysis
- Fast data processing
- Annual financial statements in accordance with HGB
A lack of structure and no time for essential tasks
Before LucaNet, the accounting system of degewo AG was based on MS Excel. However, especially after the integration of several companies, the reality became clear rapidly: Excel is far too complex and organizing consolidation processes in this way is no longer practical and is simply outdated. The company began to yearn for professional software. The software should, of course(!), be clearly structured, easy to understand, user-friendly, enable time savings, and be tailored to individual requirements. LucaNet offered the right solution.
One software for all consolidation needs
“We found the desired features perfectly combined in LucaNet and the positive effects in data quality and transparency were not long in coming,” explains Anette Pühl, Consultant for Group Accounting at degewo AG. The software was implemented quickly. The same also applied to the data connection via the import of trial balances in Excel format or via direct access to the existing SAP system. In addition to cost categories, cost centers, intercompany information, and data from the fixed asset schedule were all transferred automatically.
One of the many LucaNet advantages for degewo: The drill-down to the individual posting level ensures consistency and traceability for all figures at all times for all those responsible. They use the software primarily for annual consolidated financial statements, including the indirect cash flow statement in accordance with DRS2 (German Accounting Standard No. 2), and the associated schedules. Consolidation is carried out according to the standards of the German Commercial Code (HGB) including proportionate consolidation, which is conveniently facilitated by the wizards within the LucaNet software. “We once again have time for essential tasks. We can use the data in a variety of ways and are better able to comply with completion deadlines," concludes Anette Pühl, summarizing the added value LucaNet brings.
How LucaNet software benefits degewo:
- Transparent, traceable data available at all times
- Saving time for essential tasks
- Numerous possibilities for linking data