Faster consolidation in tandem with SAP
Success story Neutrik AG
Liechtenstein's Neutrik AG was looking for ways to achieve more professionalism in terms of data quality and its overall process of creating consolidated financial statements. This was why it decided to replace its Excel-based approach to consolidation with LucaNet.
How Neutrik uses LucaNet software:
- Creation of financial statements in line with Swiss GAAP FER
- Full consolidation; elimination of intercompany debt; elimination of intercompany income and expense
- Annual and half-year reporting
LucaNet has helped us achieve higher levels of professionalism and data quality in consolidation. We can also calculate and analyze our figures in real time, which enables us to work much more efficiently.
Consolidating in real time
Importing Neutrik's transaction figures and balances per ledger account along with its cost centers and cost categories didn’t take long. The data was imported via the interface to SAP, as well as in the form of trial balances in Excel and other reporting packages. The Liechtenstein company is benefiting in particular from the ability to drill down to the individual posting level. This allows users to view the corresponding posting documents for each transaction figure from the source systems with just one click.
The key consolidation steps at Neutrik AG include the elimination of intercompany debt and intercompany income and expense. The consolidation apps LucaNet offers for these process steps facilitate paired elimination of all group-internal issues at the press of a button.
LucaNet enables simple, flexible preparation of the data required for reporting. For instance, if data that only refers to a subgroup or specific individual companies is needed, the user can easily filter for this information. The relevant figures can then be presented transparently in predefined reports and analyses for various target groups.