Customer Story
Ivolve Group's finance team reports monthly to the board. For a long time, consolidation and reporting were time-consuming and stressful. With the switch to Lucanet, the process has been significantly simplified and transparency has been brought to the financial data.
Ivolve Group is the fastest growing care home specialist in the UK. At the forefront of care and support, they are driving innovation that enables people to live lives full of choices and opportunities. The company has been established to support and develop high-quality residential and supported living services for adults with complex and challenging needs across England and Wales. Currently supporting 1,500 individuals made up of 5 organisations, Ivolve excels at delivering local and nationally recognised care and support.
Lucanet is a user-friendly and very impressive all-around product.
Emine Ucar
Group Financial Controller
In the months prior to the introduction of Lucanet, Ivolve Group grew organically as well as through acquisitions. This was accompanied by ever-increasing complexity, especially in group reporting.
The approach used at the time to transfer the financial figures of the various companies to the group headquarters was reaching its limits. The figures came in via Excel, Sage and various servers. The finance team in the group then had to manually enter them into Excel to create the monthly reports for the board on this basis. "The process was time-consuming and error-prone and regularly led to a lot of stress at the end of the month for us," says Emine Ucar, Group Financial Controller at Ivolve. So they set out to find a solution that would simplify this process and bring reliability and transparency to their financial data. "After watching the demo, we knew: Lucanet is exactly what we need."
For Ivolve's management board, Emine Ucar's team prepares monthly consolidated financial statements, reporting comprehensively on profit and loss, balance sheet, cash flow, debtors, and assets, as well as providing a detailed review of each care home's performance.
"Lucanet has helped us build efficient and accurate reporting," concludes Emine Ucar. "What was complicated before is now effortless. Lucanet is our platform where everything comes together. Thanks to the software, we can see the consolidated result very quickly as well as divisional performance. The companies also benefit because their reports are structured in such a way that they can update their data independently. The exchange between our Group headquarters and the individual companies has become much more efficient and transparent. That is a huge benefit to both sides. Overall, we now save about 6 days of work during the month-end closing process." Ivolve's board of management is also thrilled. Thanks to Lucanet, they now get reliable data with a high degree of transparency, enabling them to make their decisions on a sound basis.