Consolidation in Record Time: Industrial Company Has the Solution for Tight Schedules
Success story Metabowerke GmbH
Metabo realized the quandary they were in: Their own system did not allow for fast consolidation, planning and reporting had become painstakingly labor-intensive, and all the time for the important tasks was being stolen in the process. It was time for a new solution. Monthly group reporting and the preparation of complex data are now no longer a problem with LucaNet. With such a tight schedule, the relief from the burden of consolidation was immense.
LucaNet has won us over thanks to its versatile usability and adaptability. The database architecture is based on the newest standard of technology and the diverse functions for consolidation, planning, and reporting have been thought through intelligently and systematically.
How Metabo uses LucaNet Software:
- Monthly group reporting
- Monthly consolidation
- Self-contained financial planning
About the enterprise
The story of Metabo began in 1923 with its first hand drill. Today, the Swabian company is synonymous for machinery and hardware accessories and stands for reliability and expertise.
Use cases:
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Industry :
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Production / Industry
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Core Business :
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Power tool manufacturer
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Headquarter city :
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Nürtingen (Germany)
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Employees :
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1,800
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Website :
The challenge
Quarterly consolidation was not the solution
Metabo’s previous system only allowed for quarterly consolidation. This posed a problem when the monthly consolidated financial statements had to be ready by the seventh of each month. The quest was to find a software solution that could enable monthly consolidation in a few simple steps and better, self-contained planning processes.
The solution
Saving time during consolidation
LucaNet was quick to be found and implemented, and in no time, the entire consolidation process was newly devised in a more efficient manner. And now, before their eyes, the desired figures are available on time every month. It’s all straightforward, automatic, and one less stress during the consolidation process. “LucaNet’s ease of use is a real winner for our whole team. Be it monthly or lump sum consolidation during the year or paired consolidation at year’s end, the sky is the limit,” rejoices Oliver Haug, responsible for Group Accounting and International Controlling at Metabo.
Forecasts and planning are also run through LucaNet, whose integrated planning forms and planning wizards support efficient preparation of the figures. “Our balance sheet and cash flow planning have been simplified considerably,” says Haug. The reporting process is facilitated by the centralization of the actual and planning data within one database, as well as the ready-made report structures, which can be easily tailored to individual circumstances. Today at Metabo, even the most complex financial relationships can be prepared in a straightforward and traceable manner – be it for internal use or for third parties, such as auditors.
