Fully integrated data

The data collection and data validation tool

The lack of quality in financial data, which is usually drawn from a range of different system landscapes and source systems, represents a huge challenge for many finance departments. Say goodbye to financial data that needs to be painstakingly incorporated into reports and integrated into plans and consolidated financial statements without first being validated. LucaNet offers a professional data collection tool that will make your everyday routine noticeably easier with simple data collection and reliable data validation, to ensure that all your data entry is correct.

Especially with regard to different ERP and accounting systems at subsidiaries, inaccurate data entries, high workloads and unnecessary costs are the norm. By employing the LucaNet data collection tool, you will easily bring order to the chaos of data, files and systems to make sure that all your collected data is correct. Using only one source of truth, you have no regard for multiple data collection tools, making data gathering occur at the push of a button.

The path to maximum data quality

Our data collection and data validation tool is sure to be the right software for you thanks to all the functions it offers, which include:

  • Easy to use: Administer the report layout centrally
  • Safely store data in the web-based system
  • Manual or automated data collection
  • Access to multitude of ready-made interfaces for all common ERP and financial accounting systems
"How to simplify data collection and IC reconciliation"

An intelligent data validation tool

How LucaNet software can benefit you

Automation

LucaNet’s data validation tool makes it easy to set up the report layout for collecting planning and actual data. Our data validation software also provides automatic validation for the data you collect, so you can cut down the time needed for preparing financial statements. The data validation takes place in real time.

Flexibility

With LucaNet software, you can define data validation rules and checking routines on a case-by-case basis. It offers a non-complex way of creating both simple conditions and If/Then rules. Each rule can be set to apply to all reporting units (e.g. companies, cost centers, segments) or just selected ones.

Traceability

Thanks to an integrated status monitor in LucaNet software, you can keep a constant eye on the entire process of data collection and validation. The software enables you to see at a glance which reporting units have not yet observed certain validation rules.

Data transfer

Data collection can be handled manually or it can be automated; interfaces to LucaNet.Financial Warehouse and MS Excel are of course available to you. Data validation is carried out regardless of the type of data collection used and is available equally for all reporting units, even if they do not all use the same system landscape.

Speed

With the data collection software from LucaNet, you can increase the quality of your data while making your business processes more efficient through automation. This makes your financial reporting and planning processes much faster – with financial data you can trust 100%. Optimise all of your data validation processes by making use of the integrated task management.

Security

LucaNet software offers the utmost in reliability. The process of data collection can only be completed once all the validation rules at hand have been observed. This means you’ll always have access to valid and consistent data – whether it's for your planning or financial consolidation.

8 surefire steps to validated financial data:

Report layout
  • LucaNet data collection and validation software provides an intuitive interface for setting up data files.
  • The contents can be freely defined by the user.
  • Changes are made centrally for all reporting units.
  • The layout can easily be modified at any time.
1
Template distribution
  • The reporting packages are sent to those in charge in the reporting units via LucaNet's task management feature.
  • The tasks are generated automatically by the system.
  • Deadlines for the submission of data are communicated to the reporting units by means of milestones in each task.
  • The reporting units are automatically informed via e-mail notification about the new task.
  • It is also possible to provide additional information (instructions for completion, supplementary documents) in the task.
  • All this makes sending bulky Excel files via e-mail a thing of the past.
2
Data collection
  • In addition to entering their data manually, reporting units can import it into LucaNet data collection tool from the source system or MS Excel.
  • Everyone works using a standardized, intuitive interface for data collection.
  • Explanations and comments can be entered in separate fields.
  • The parent company can see the current status of data collection at any time.
3
IC reconciliation
  • IC reconciliation is carried out automatically after all companies have entered their IC data.
  • Various options are available, including reconciliation in transaction currency, in group currency, and at the individual posting level.
  • Differences can be clarified simply and directly between the subsidiaries involved.
4
Data validation
  • All data is validated automatically.
  • The status monitor of our data validation software shows, for example, whether all validation rules have been observed and whether there are still IC discrepancies that need to be clarified.
  • The tedious checking of the individual Excel reporting packages is no longer necessary.
5
Data approval
  • The person responsible for reporting in each reporting unit can easily approve the entire reporting package using the task management feature.
6
Data transmission
  • Once data collection has been completed, the parent company will automatically receive an e-mail notification via the task management and can access the data directly.
7
Data transfer
  • Once the data of all companies is reconciled and validated, it's easy to transfer it into the group structures.
  • LucaNet data validation and collection software makes all the data available in a standardized financial performance management solution.
8

Only LucaNet software simplifies complexity

Status monitor for all reporting units
  • Full transparency as to whether a reporting unit has already observed all the rules or still has some issues to resolve
  • Display of status of IC reconciliation in status monitor
  • Access to data files is possible
Integrated validation rules
  • Easily see if validation rules have already been observed or which not
  • Navigate directly to the data entry in question
  • Sign-off by another person is possible (four eyes principle)
Simple creation of new validation rules
  • Define rules for validation and verification individually
  • Easy creation of rules by means of entering conditions (including as if-then rules)
  • Changes made are rolled out immediately to all reporting units
software demo

Learn even more about our data validation and data collection tool

Interested in seeing our data collection and data validation software in action? We’d be pleased to offer you a live, personalized demo with no obligation – either at your offices or in an online presentation!

Request a demo

Learn even more about our tool for data validation

Interested in seeing our data collection and data validation software in action? We will show you how you can bring order to the multitude of data within your systems. Thanks to our data collection tool, escape from the jungle of inconsistent data and handle process of data collection and validation at the push of a button. We’d be pleased to offer you a live, personalized demo with no obligation.