Founded in 1999, LucaNet is a German vendor with a focus on financial performance management (FPM). The company is headquartered in Berlin with additional offices in Germany, Europe, Asia and the United States. LucaNet has over 3,500 customers in 50 countries worldwide. In April 2022, the company received significant strategic investment from Hg, a leading global software investor, to accelerate and scale the vendor’s growth and fund further development of its product capabilities.
LucaNet’s software portfolio comprises solutions for financial consolidation and close, financial planning and budgeting, financial and legal reporting and additional financial management topics, which can be used in any combination. LucaNet offers an automated financial close solution including financial consolidation, intercompany reconciliation and disclosure management, which is supported by workflow management tools. All products are targeted at business users and are based on a proprietary multidimensional, in-memory database. 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 as well as at group level.
LucaNet’s software is based on Java and offers both cloud (leveraging Amazon Web Services) and on-premises options. The cloud services are ISO 27001 certified.
In addition to its core capabilities, 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. However, operational planning is not the focus of the solution. Apps can be adapted to customer-specific needs and requirements.
For reporting and analysis, LucaNet offers an Excel add-in as a front end, but other products from third-party vendors such as Microsoft (Power BI), Qlik and Tableau may also be used. LucaNet’s open architecture allows these front ends to access the product’s database including the hierarchies, structures and values. For requirements in disclosure management and ESEF reporting, there is a reseller agreement in place with AMANA Consulting. Under this agreement, LucaNet distributes and implements the AMANA products SmartNotes and XBRL-Tagger independently.
User & Use Cases
50 percent of LucaNet users are planning users – significantly below the survey average of 64 percent – reflecting the fact that it is essentially a financial consolidation tool with complementary planning functionality. This is also reflected in its customers’ typical use cases. Users leverage LucaNet for financial planning (96 percent) and less frequently for operational planning (57 percent). Here, planning takes place at different aggregation levels. LucaNet is used for budgeting (77 percent), forecasting (65 percent) and also strategic planning (60 percent). Besides planning, customers mainly use the software for standard/enterprise reporting (100 percent), ad hoc query (100 percent), financial consolidation (90 percent) and data analysis (63 percent). Several respondents plan to use it for dashboards/scorecards (29 percent) and strategic planning (28 percent) in the future.
LucaNet targets companies of all sizes across all industries. 67 percent of our sample of LucaNet customers come from mid-sized companies (100-2,500 employees) with a median of 19 users (including 4 using planning functionality), but the mean of 34 users (17 for planning) indicates there are also some larger implementations.
Current vs. planned use (planning use cases)
Current vs. planned use (besides planning)
Percentage of employees using LucaNet
Planning users (as a percentage of all users)
Total number of users per company
Planning users per company
Company size (number of employees)
Want to see the whole picture?
BARC’s Vendor Performance Summary contains an overview of The Planning Survey results based on feedback from LucaNet users, accompanied by expert analyst commentary.Contact us to purchase the Vendor Performance Summary