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Our Challenges
“By closely collaborating with ISOLITE and taking the specific reporting requirements into account, we did not only optimize future financial planning with Lucanet, but also created a long-term efficient solution.”
Bendix Weers, Manager, Finatycs
Our aim was to ensure a smooth implementation of Lucanet in order to make the existing consolidation process more efficient. This changeover was also intended to enable ISOLITE to carry out future consolidation processes internally on its own.
With our expertise in Lucanet, we were able to develop a flexible planning solution that was complemented by customized Excel functions. This solution optimized the consolidation process and met ISOLITE's specific requirements.
We placed particular emphasis on providing individual planning solutions that would enable ISOLITE to carry out data analyses more efficiently and make the process structure clearer. As a result, balance sheets and P&L documents could be created automatically and in a significantly shorter time.
After the successful implementation, ISOLITE was able to take over the consolidation process independently, which reduced the maintenance effort and resulted in significant time savings.
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Our Solution - Optimization of the consolidation process
"At Finatycs, we like to support our customers with shifting their finance operations. Our work with ISOLITE further demonstrated the benefits that smaller IT improvements can result in great benefits for users. We worked closely and trustfully with ISOLITE’s team to built long lasting business processes.”
Rudolf Vasil, Partner, Finatycs
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Our customer - an international insulation technology enterprise
ISOLITE is an internationally established company for high-temperature systems that specializes in the aerospace and automotive industries. With 500 employees, 12 locations and over 45 years of industry experience, they are one of the largest companies in the field of high-tech insulation solutions and high-temperature insulation worldwide.
The Group faced constant challenges, such as the collection of large amounts of financial data, consolidated financial statements and individual financial statements. Until 2019, a Microsoft Access package was used to prepare the consolidated financial statements. This Access package was associated with high external maintenance costs. The aim of the project was to replace the Accesspackage with Lucanet, internalize the consolidation process and implement Lucanet's planning options.
Due to our extensive experience in consolidation, financial planning and the introduction of financial software, Finatycs was commissioned with the project. Thanks to the successful implementation of Lucanet, we were able to make the consolidation process significantly more efficient, eliminating external maintenance costs and optimizing our client's planning processes in the long term.
“With the support of Finatycs, we were able to efficiently design our consolidation processes and fully utilize Lucanet's potential. Finatycs' customized solutions and their implementation improved our data quality and enabled us to carry out flexible, future-oriented financial planning.”