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How do you achieve reporting flexibility in an ever changing world?

Receiving more and more requests for information with responses needed ASAP? Finding your standard suites of fixed reports no longer enough? Scrambling around trying to source additional data and worried about its reliability? If these are common occurrence in your finance function, then you’ve come to the right place.

As the world changes rapidly, the complexity of statutory requirements increases, the demands companies are placing on their finance function for internal and external reporting grows with it. Finance teams experience a never-ending array of questions from external stakeholders such as regulators, clients, customers, investors and analysts plus all parts of the business itself – be it C-Suite executives, operations, pricing, work winning and more.

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Transparent financial data needs to be prepared even faster whether in the form of plans, standard reports, management reports, or group reporting. A single point of truth that offers comprehensive, consistent access and reporting of your data is now a core requirement. The true value comes from being able to flexibly analyse data on-the-fly to provide answers to those innumerable questions and provide a story of business performance and position.

LucaNet’s user-friendly software will guide you through the entire reporting process in a fast, but thorough manner, enabling you to produce flexible, transparent reporting and analysis at the click of a button.

LucaNet is your solution if you

  • want flexible, transparent reporting and analysis
  • want consistency in the preparation of KPIs
  • want a single version of the truth for reporting – be it statutory reporting, management reporting or planning.

Together, LucaNet and Function Six are taking the complexity out of finance.

Comparative reporting and time series views

LucaNet’s multidimensional database provides fast interactive reporting and analysis with dynamic comparative analysis between the data levels of actual, budgets and forecasts.

It’s not just data levels, any two dimensions elements can be compared at a single member level or by hierarchy – be it time periods, entities, cost centres, consolidation scenarios, currencies.

Additionally, use the calendar drop-down to select any number of years analysed by year, quarter or even month – see Fig 1. Alternatively, drill down to months using single-clicks on the face of the view.

You can even compare dimensional combinations against each other e.g. Actual data for 2018 vs Budget 2019, all at the click of a button and without using Excel – see Fig 2

In addition, LucaNet has some excellent comparative reporting and analysis features

  • Preconfigured reports that can easily be adapted to your company’s specific requirements
  • Central management cockpit that summarises all relevant KPIs
  • Automated calculation of predefined and customisable KPIs
  • Drill down functionality for greater transparency
  • Full Excel integration, including pivot tables
  • Open interfaces (e.g. XMLA, ODBO, MDX) for integration into existing reporting and analysis environments such as Power BI

Download this article for insight into how LucaNet software transformed reporting at Toshiba

Find out why you should join over 3000 organisations globally who have already chosen LucaNet’s software to improve their reporting.

Read more about LucaNet and Function Six here and follow us on LinkedIn to stay up to date.

Graham Pattison
Graham is Function Six’s expert in consolidation and planning and leads the LucaNet practice. He is able to draw on his deep domain knowledge from his extensive accounting career having trained with KPMG and held roles including Group Financial Controller, Finance Director and Group Head of Reporting in organisations with revenues ranging from £100m to £5bn.
CONSISTENT REPORTS THANKS TO INTELLIGENT SOFTWARE

Learn how LucaNet transformed financial reporting at Toshiba.

FOR RELIABLE PLANNING AND FORECASTS

Learn how LucaNet transformed financial reporting at Toshiba.

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