LucaNet

Founded in 1999, LucaNet is a German vendor with a focus on financial performance management. The company is headquartered in Berlin with additional offices in Germany, Europe, Asia and the United States. According to LucaNet, it has over 2,700 customers worldwide.

LucaNet’s software portfolio comprises solutions for financial consolidation, planning and budgeting, financial reporting and additional financial management topics, which can be used in any combination. All products are targeted at business users and are based on a proprietary multidimensional, in-memory database (LucaNet.Financial OLAP Server). The database provides a predefined data model with intertwined business rules for establishing an integrated financial planning model and creating consolidated financial statements. Using the same logic, it is possible to compare planned versus actual data dynamically and also at group level. LucaNet.Importer provides a variety of predefined connectors to common ERP and financial accounting systems. It is also possible to collect and validate data via a web interface, including an intercompany reconciliation.

LucaNet software is currently on its Long-Term Support (LTS) Release 12 and is based on Java version 11. It offers both cloud and on-premises options. The cloud services were recently certified according to ISO/IEC 27001. In recent LTS releases, particularly in LTS 11 and 12, the flexibility of the solution has been enhanced beyond LucaNet’s traditional focus on finance-specific topics.

An integrated development environment provides functionality to design individual forms, calculation rules and applications. Using this development environment, LucaNet provides apps for financial solutions (e.g., IFRS 16) as well as several operational planning scenarios that can be used to feed the vendor’s inherent financial planning model. They can be adapted to customer-specific needs and requirements. There is also now a new LucaNet app for the use of predictive techniques within planning and forecasting (e.g., for financial planning). This paid app delivers data-based forecasts based on actual figures and is a simple means to validate manual plans.

LucaNet offers an Excel add-in as a front end for reporting and analysis, but offerings from other vendors such as Microsoft Power BI, Qlik and Tableau may also be used. Dashboards based on Microsoft Power BI can be implemented by LucaNet consultants. LucaNet’s open architecture allows these front ends to access the LucaNet.Financial OLAP Server and/or LucaNet Financial Warehouse including the hierarchies, structures and values.

For requirements in disclosure management and ESEF reporting (European Single Electronic Format), LucaNet has a reseller agreement with AMANA Consulting. Under this agreement, LucaNet distributes and implements the AMANA products SmartNotes and XBRL-Tagger independently.

User & Use Cases

Besides planning, customers mainly use LucaNet for financial consolidation (86 percent) and standard/enterprise reporting (84 percent). 46 percent of respondents plan to use it for advanced analysis and 41 percent for dashboards/scorecards in the future. LucaNet targets small and mid-sized companies across all industries. 74 percent of our sample of LucaNet customers come from mid-sized companies (100-2,500 employees) with a median of 10 users (including 5 using planning functionality), but the mean of 23 users (13 for planning) indicates there are also some slightly larger implementations. 64 percent of LucaNet users are planning users – just around the survey average of 65 percent – reflecting the fact that LucaNet is essentially a financial consolidation tool with complementary planning functionality.

Current vs. planned use (besides planning)

N=29

Percentage of employees using LucaNet

N=39

Planning users (as a percentage of all users)

N=39

Total number of users per company

N=39

Planning users per company

N=39

Company size (number of employees)

N=39

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LucaNet

Peer Groups European vendors, Financial performance management products
VendorLucaNet
Number of responses39
ProductLucaNet
Offices14 offices worldwide in Germany (HQ), Austria, Switzerland, Belgium, China, France, United Kingdom, Netherlands, Singapore, Spain and United States
Employees400-500
Customers2,700
Revenues (2019)Undisclosed
Websitewww.lucanet.com