Customer Story
Faced with business growth and international development, the financial performance management had become so complex that change needed to happen: there was no budget in 2016, there was no more reporting, and the accounts were released just in time to meet the constraints of the listed companies.
EasyVista was originally a startup that has now been operating for 30 years. Initially involved in services (IT inventory, asset management), it bundled its solution to make it a management software. The Group is composed of 7 subsidiaries.
With Lucanet, I can move quickly and have a solution that gives me a clear overview. As a CFO, this 360° view is essential to understand the business and meet the high expectations of CEOs.
Vincent Migayrou
Chief Financial Officer
Lucanet was brought on board in an interim management context, to meet the needs of monthly financial and operational reporting, management and statutory consolidation, and budgeting. "We were really in a context of transition management," recalls Vincent Migayrou, CFO of EasyVista.
EasyVista wanted to quickly implement a functional, simple solution with an integrated business logic, in order to manage all aspects of the finance department. "My experience as a CFO and management controller was that I used Excel a lot: to do cost accounting, to do simulation, but also for production. And production on Excel is extremely dangerous, it poses a real problem in terms of reliability, robustness, and durability of solutions. So I was looking for a solution that really responded to the business, that was not generic, a solution designed by CFOs and not by computer scientists," explains Vincent Migayrou.
"Within 3 months, we implemented a solution that allowed us to process the budget and realign a consolidation of 7 subsidiaries with different business areas than our legal areas. We were able to define a new business structure that corresponds to the reality of our activity, with a corporate dimension and a business dimension, and that coexists perfectly with our legal structure." ... "In terms of speed, I think the fact that Lucanet is a business specialist was essential to the success of the project. With Lucanet we have a financial toolkit with templates that are ready to be set up, which is much easier, but which we were able to adjust and adapt very easily."
"We now have a management consolidation running, which is a very big achievement. At the same time, we were rebuilding SAGE from the ground up, in particular with the implementation of cost accounting. This has enabled us to have an enriched general accounting system and at the same time obtain a P&L for each department."
"We have raised funds to accelerate our growth, especially in the US, but we are now constrained by our investors, who have higher expectations. The demands of the CFO's job are increasing in terms of management and strategic alignment. Little by little, France is moving towards an Anglo-Saxon model where the CFO is no longer the fifth wheel, but rather the number two on the management committee. And for that, you need to have an in-depth knowledge of your business and a 360° overview."