Our Smart Financials team can help you scale your business by making sure you have the right tools and processes in place.
Implementing cloud processes into your business
Evelyn Partners’ new Smart Financials team is at the forefront of emerging technological solutions. By ensuring that the right systems and processes are in place, resources are released for finance teams to add more value to your business.
Dedicated and talented staff are too often underutilised by businesses as their time is taken up with repetitive tasks that could be automated.
Systems health check
It is always hard to determine if a system being used every day remains fit for purpose. New possibilities for implementing controls, increasing security or improving efficiency are being developed seemingly daily.
Our Systems Health Check is where our Smart Financials team walk through existing accounting processes to gain an understanding of your system, and then provide a holistic overview of current functionality. Gaining an expert understanding of the strengths and weaknesses of your system and processes can help you reduce risk and spot opportunities.
As part of the Business Outsourcing Services team, we have regular exposure to how different companies are taking advantage of the extensive cloud integrations available with third party applications to create streamlined processes within an automated finance ecosystem. Working alongside our clients, we have developed an excellent understanding of what is available and how to implement these systems.
If you are using a cloud-based accounting package and feel like you have manual processes where there must be a simpler solution, reach out to our expert App Advisors who will be able to advise on what systems to explore and how to implement them. Take advantage of the full power of cloud computing to free up your team to focus on adding value and providing insight to decision makers.
Consolidation software implementation
In 2021, Evelyn Partners became the first UK accountancy firm to partner with LucaNet, a company which has developed consolidation software to automate reporting and to streamline month-end close. The software is easy to use, with out-of-the-box APIs allowing it to overlay existing accounting processes and to support the robust dataflow from more than 200 of the world’s leading accounting platforms.
LucaNet can fully automate consolidation for both management and statutory reporting. The software also offers additional modules for planning, financial reporting, ESG reporting and IFRS-16 lease accounting. It is a low-cost option compared to other consolidation solutions, with implementation times as low as 8-12 weeks for less complex group structures.
To book a free consultation with our team, please follow this link.
If LucaNet does not seem appropriate for the size or complexity of your group, please get in contact with us as there are many other options available.
Frequently asked questions
What kind of apps do you have experience with?
Due to our large range of clients, we come across all sorts of apps, including invoice processing, employee expense systems, reporting, inventory and shipping management, payment integrations and more. These apps can drastically improve efficiency and accuracy, yet we find they are often unknown or underutilised.
What is the process for the implementation of apps?
We appreciate that time constraints on each finance team vary; therefore, we tailor our implementation approach to fit your availability and needs. Examples include: a full-service approach, where we implement the system for you with minimal input from your finance team, and a train-the-trainer approach where we train your team on how to perform the implementation themselves, resulting in a thorough understanding of the system.
Is LucaNet right for my business?
LucaNet is a tool specifically designed to help remove the complications from consolidation. As every group is different, these can vary greatly. If the group entities use various accounting packages, if the group operates in several jurisdictions using several currencies, if the group currently uses a spreadsheet package such as Microsoft Excel to perform their monthly consolidation, if any of these complications exist, then LucaNet can provide real value.