Simply efficient – increase transparency, lower costs
Klaus Kroschke Holding GmbH & Co. KG
Projectintroduction of consolidation software for the improvement of documentation and comprehensibility of consolidated financial statements; improved representation of supplementary items
The flexible structures of LucaNet also enable complex company interrelations and consolidation mechanisms to be represented. The standard, ready-to-use reports enable us to create reporting information in a manner that is quick and free of errors, and saves on costs.
About the company
- manufacture and sale of occupational health and safety products
- Braunschweig - Germany
At the end of 2006, Klaus Kroschke Holding GmbH & Co. KG was on the lookout for professional consolidation software in order to generate consolidated financial statements. LucaNet replaced the previous Excel solution.
Klaus Kroschke Holding GmbH & Co. KG has been successfully positioned in sales and production of occupational health and safety products for more than 50 years. It is now a supplier to over 100,000 customers, including Siemens, VW and Telekom.
To Elke Bergmann, responsible for generating the consolidated financial statement, the most important aspects in implementing professional consolidation software are the documentation and tracking of individual steps - right up to group accounts. But it was also the representation of supplementary items, such as analysis of deferred liabilities and assets, which needed to be understood better than before.
Given that the consolidated financial statement is generated only once a year, the software was to be as easy to use as possible. Against this backdrop, search was on for a solution that enables the best mixture of functionality and intuitive operation. Klaus Kroschke Holding GmbH & Co. KG became aware of LucaNet following a recommendation from associate company Christoph Kroschke AG, which has been deploying LucaNet successfully since 2003.
Simple in operation, simple in adoption
"In the light of this recommendation, we had a live demonstration of LucaNet", says Dirk Kühne, Head of Accounting and Finance, "The software was presented extremely professionally on both a functional and a technical level. Understanding of our requirements on the part of the supplier was very apparent from the outset."
The decision to opt for LucaNet was taken shortly afterwards. "This software appealed to us most", summarises Elke Bergmann, "In terms of operation and functionality, we believe the software meets the requirements of medium-sized businesses best. Of course, the positive experience of our associate company also played a part."
Implementation took place within seven days. During this time, structures were set up, data of ten businesses for two years was imported on a monthly basis, and the consolidation was performed. Also, analyses of assets and changes in equity were set up and the cash flow costing was aligned to the requirements of the business.