Lucanet Reviews

“very helpful customer support team

Pros

I really like how appealing the interface is and whenever I need help their customer support responds quickly and is genuinely helpful.

Cons

Occasionally I find the overall range of features a bit overwhelming which can make things hard to follow.

“import/export easy

Pros

I've been able to connect almost any source system without much trouble and importing or exporting bookings is really painless.

Cons

there aren't integrations with many other systems so although data get imported into Lucanet I still have to depend on the original upstream systems for any deeper analysis.

“Helpful quick performance overview

Pros

From my perspective a major plus is that I can quickly get a clear snapshot of overall performance across the organization both at the aggregate level and broken down by business unit. I also appreciate that there are plenty of options to drill down into the details to investigate variances or compare results over time or between entities. In addition the consolidation process is very user-friendly so each month I'm able to close both the P&L and the balance sheet quickly and accurately.

Cons

I would say the main drawback is that the system operates only on monthly, quarterly and annual bases which can feel limiting at times. Often I wish I could assess items over shorter intervals such as by week or even by day to catch issues earlier. Naturally this is primarily a Business Control requirement rather than a general reporting need.

“fast reporting function

Pros

I really appreciate how user-friendly the tool is. I can pull up the P&L, balance sheet and cash flow super quickly without dealing with individual transactions. I also build custom reports in Lucanet using queries and even directly in Excel with the add-in. It truly improved our reporting process.

Cons

Graphs are definitely missing from the interface. We also wish there was a way to select a set of cost centers each time we run a query instead of having to create a separate organization element. For instance when checking EBITDA for an existing group I want to exclude a couple of cost centers just like using a pivot table.

“Great excel connection

Pros

I'm impressed by how user-friendly it is and the excellent Excel integration.

Cons

Nothing stands out as a major flaw. I just find the tool a bit pricey.

“love easy reports and data visualization

Pros

I like how easy it is to build reports and to visualize data

Cons

It would be helpful to have more flexibility on the screen for slicing and dicing because I often need that level of control

“significant amount of standard functionality available

Pros

Because Lucanet comes with a broad set of built-in features, it was simple to implement, easy to maintain and very user-friendly. I also found the support desk reliable and the license pricing is competitive when compared to other alternatives on the market.

Cons

I've noticed the planning capabilities still need further development which makes sense to me since Lucanet originally evolved from the consolidation side of the FP&A cycle.

“Clear and rapid implementation

Pros

From the moment they presented it I felt the solution was clear, impactful and highly professional, with engagement across every area of the organization. I was particularly impressed by how quickly it was implemented, its flexibility and its simplicity. The technical team, trainer and executive leaders all delivered an outstanding level of excellence.

Cons

Honestly I can't find anything I didn't like overall I'm genuinely very satisfied with every aspect of the experience.

“super accurate

Pros

I'm able to clearly explain complex financial data to both leadership and investors while being 100% confident in its accuracy.

Cons

There isn't much that bothers me. The budgeting workflow isn't cutting-edge but that's fine, building long-term financial forecasts in LucaNet is easy and these projections are far superior to the Excel spreadsheets that many businesses still depend on today.

“user-friendly consolidation

Pros

I've found Lucanet to be a very user-friendly consolidation and reporting solution. The icons across the top of the screen give me the flexibility to display figures exactly how I prefer which makes working with reports much smoother. Importing data is simple (I use Excel or an interface) and exporting is just as easy whether I use the export icon, a Lucanet value formula or templates. There are handy predefined overviews available yet I can also create my own views (for instance, an internal reporting P&L) when I need something tailored. Within Lucanet I can use different data levels to compare for example actuals versus budget figures and adjustment levels help me separate source figures from the final annual report numbers. To gather figures from subsidiaries we use the Group report data collection tool it provides a predefined environment where local teams enter required numbers and we can set rules tied to those figures. On top of that at group level there's a dashboard that lets me quickly check the status of local reporting submissions which is really helpful for keeping track of progress and follow-ups.

Cons

For me the trickiest part has been understanding Lucanet's ability to forecast or budget Balance Sheet positions based on accounting rules. I can see it can generate forecasts but I struggle to grasp exactly how it handles the evolution of the closing balance of the actuals within that forecast. In practice I find it a bit hard to follow how the rules and calculations interact to produce the final forecasted balances especially when trying to reconcile them back to the reported actuals.

“Overall it is a complete tool

Pros

I like the extensive budget options and how flexible the data configuration is. The reporting capabilities are really comprehensive too. What impressed me most is how user friendly everything feels despite all these features. Also data security gives me peace of mind with those individual result checks. The Power BI integration opens up some fantastic modern visualization opportunities that look really professional. When I have needed help, the support team has been incredibly knowledgeable and responsive.

Cons

Keep in mind that you have to do extra coding if you want to split accounts for individual needs.

“Seamless Implementation and Great Integration

Pros

Honestly I am really satisfied with the many different views, displays and functions available. And it is tough to pick just one thing to highlight since there is so much that works well.

Cons

Cannot really think of anything right now as I am pretty satisfied at the moment.

“Proven pretty helpful for us

Pros

It is fairly user-friendly and adaptable with the consolidation apps that work pretty fast and are easy to work with.

Cons

The reporting features are not quite there yet. We still have to rely on Excel for most of our reporting needs.

“Excellent for Reports and Planning

Pros

Lucanet software adapts really well to whatever we need it for. You can either work directly in the platform or integrate it seamlessly into Excel. And whether you are an Excel pro or just starting out, the add-in is simlple to use.

Cons

I wish there was an option to upload text content in its own column.

“Financial Analysis Made Easy

Pros

I like that this tool brings together information from multiple companies, even when they are using completely different accounting systems and have varying data quality. Also it has made our evaluation and analysis work so much smoother and being able to export everything to Excel in a consistent format has been a game-changer for our workflow.

Cons

Getting overwhelmed by the sheer amount of data across accounts, charge codes and cost centers is pretty easy. Because you can really lose track of where you started when diving deeper into all the information layers. It is not a major issue but I will say beware.

“Very well-designed tool

Pros

In Lucanet everything is organized in a way that makes sense. Plus there are lots of ways to automate different processes which I like the most about it.

Cons

I wish it had the option to store extra custom dimensions that you can define yourself.

“Best among the rest

Pros

The interface is simple and follows consistent design patterns that make sense. Navigating the platform is pretty easy too as I can find what I need without getting lost in menus. What impressed me most is how fast everything loads. Like there is practically no waiting time compared to other tools I have used before.

Cons

The help text for scripts and apps is pretty useless as instead of explaining what something actually does, you get generic descriptions like Transaction type: Enter the transaction type which does not tell me anything about the functions purpose.

“Pretty reliable software

Pros

A few things are proven really useful for my workflow such as assistant-driven intercompany reconciliation and elimination entries. Also I like being able to drill down to the posting level for detailed analysis and the seamless connectivity to different accounting systems through standard interfaces makes integration a simple task.

Cons

There is a lack of a proper workflow feature is noticeable and if they pay attention to this area, it would really improve the system.

“great consolidation and planning solution

Pros

The reporting system is really flexible and easy to handle.

Cons

The system does not track past CTA changes very well and I cannot easily verify balance transfers. Also there is poor visibility into historical differences from debt consolidation plus no clear transparency when it comes to group-level postings.

“Does everything we expected

Pros

Works perfectly for us right away and has a really modern, contemporary interface that looks great.

Cons

I noticed that workflow support is pretty lacking and the development pace feels really slow especially when it comes to the web browser interface which seems to take forever to get updates.