{"id":5257,"date":"2025-02-11T10:54:00","date_gmt":"2025-02-11T10:54:00","guid":{"rendered":"https:\/\/www.balkanservices.com\/blog\/?p=5257"},"modified":"2026-04-02T14:07:21","modified_gmt":"2026-04-02T14:07:21","slug":"sunotec-consolidates-its-financial-statements-using-lucanet","status":"publish","type":"post","link":"https:\/\/www.balkanservices.com\/blog\/en\/sunotec-consolidates-its-financial-statements-using-lucanet\/","title":{"rendered":"Sunotec consolidates its financial statements using Lucanet\u00a0"},"content":{"rendered":"\n<h1 class=\"wp-block-heading\">Sunotec consolidates its financial statements using Lucanet&nbsp;<\/h1>\n\n\n\n<p><em>The classic example of companies taking the step to implement a financial consolidation software solution can be illustrated like this:<\/em>&nbsp;&nbsp;<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li><strong>Aggregating financial statement data<\/strong> across the Group becomes very complex and time-consuming;<\/li>\n\n\n\n<li>The <strong>risk of errors in the preparation <\/strong>of the final documents is growing;<\/li>\n\n\n\n<li>Highly skilled specialists in the Group structure are <strong>engaged in operational activities before<\/strong> reaching the core of the consolidation.<\/li>\n<\/ul>\n\n\n\n<p>This is the point at which management realizes that it needs to look for a solution to automate the process of preparing a consolidated report so that:<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li><strong>data to be consistent<\/strong>;<\/li>\n\n\n\n<li><strong>operations are traceable<\/strong>;<\/li>\n\n\n\n<li><strong>financial consolidation time is reduced<\/strong>.&nbsp; &nbsp;<\/li>\n<\/ul>\n\n\n\n<p>A solution to achieve all of this was found with our help by Sunotec, the largest photovoltaic plant construction company by revenue in Bulgaria for 2023.<\/p>\n\n\n\n<p class=\"has-text-align-center has-medium-font-size\"><\/p>\n\n\n\n<div class=\"wp-block-stackable-spacer stk-block-spacer stk--no-padding stk-block stk-3c139c9\" data-block-id=\"3c139c9\"><style>.stk-3c139c9 {height:35px !important;}<\/style><\/div>\n\n\n\n<h2 class=\"wp-block-heading\">About <a href=\"https:\/\/sunotec-group.com\/\" target=\"_blank\" rel=\"noreferrer noopener\">Sunotec<\/a> <\/h2>\n\n\n\n<p>Sunotec is a Bulgarian-German company with a 12% market share in the construction of industrial photovoltaic plants in Europe. It has <strong>more than 600 solar projects worldwide <\/strong>with a capacity of over 8.2 gigawatts.<\/p>\n\n\n\n<p>The company employs over 1700 people and has the second-largest fleet of in-house construction equipment in the sector in Europe.<\/p>\n\n\n\n<p>The Group provides a <strong>full range of services related to constructing photovoltaic parks<\/strong>.<\/p>\n\n\n\n<p>Last year, Sunotec undertook a significant restructuring to transition from a construction company in the renewable energy sector to a total solutions provider for the solar industry.<\/p>\n\n\n\n<p>The company&#8217;s horizon includes expanding into markets on other continents where it already has a presence, such as Africa and Asia.<\/p>\n\n\n\n<p>The company relies on reliable systems to optimize its operations in such a way that its management has time to focus on the essential things for the business.<\/p>\n\n\n\n<div class=\"wp-block-stackable-spacer stk-block-spacer stk--no-padding stk-block stk-d737d36\" data-block-id=\"d737d36\"><style>.stk-d737d36 {height:35px !important;}<\/style><\/div>\n\n\n\n<div class=\"wp-block-stackable-icon-label stk-block-icon-label stk-block stk-860e493\" data-block-id=\"860e493\"><div class=\"stk-row stk-inner-blocks stk-block-content\">\n<div class=\"wp-block-stackable-icon stk-block-icon has-text-align-left stk-block stk-86dc88e\" data-block-id=\"86dc88e\"><style>.stk-86dc88e .stk--svg-wrapper .stk--inner-svg svg:last-child{opacity:0.7 !important;}.stk-86dc88e .stk--svg-wrapper .stk--inner-svg svg:last-child, .stk-86dc88e .stk--svg-wrapper .stk--inner-svg svg:last-child :is(g, path, rect, polygon, ellipse){fill:var(--theme-palette-color-1, #F6891F) !important;}<\/style><span class=\"stk--svg-wrapper\"><div class=\"stk--inner-svg\"><svg style=\"height:0;width:0\"><defs><linearGradient id=\"linear-gradient-86dc88e\" x1=\"0\" x2=\"100%\" y1=\"0\" y2=\"0\"><stop offset=\"0%\" style=\"stop-opacity:1;stop-color:var(--linear-gradient-86-dc-88-e-color-1)\"><\/stop><stop offset=\"100%\" style=\"stop-opacity:1;stop-color:var(--linear-gradient-86-dc-88-e-color-2)\"><\/stop><\/linearGradient><\/defs><\/svg><svg xmlns=\"http:\/\/www.w3.org\/2000\/svg\" viewBox=\"0 0 384 512\" aria-hidden=\"true\" width=\"32\" height=\"32\"><path d=\"M297.2 248.9C311.6 228.3 320 203.2 320 176c0-70.7-57.3-128-128-128S64 105.3 64 176c0 27.2 8.4 52.3 22.8 72.9c3.7 5.3 8.1 11.3 12.8 17.7l0 0c12.9 17.7 28.3 38.9 39.8 59.8c10.4 19 15.7 38.8 18.3 57.5H109c-2.2-12-5.9-23.7-11.8-34.5c-9.9-18-22.2-34.9-34.5-51.8l0 0 0 0c-5.2-7.1-10.4-14.2-15.4-21.4C27.6 247.9 16 213.3 16 176C16 78.8 94.8 0 192 0s176 78.8 176 176c0 37.3-11.6 71.9-31.4 100.3c-5 7.2-10.2 14.3-15.4 21.4l0 0 0 0c-12.3 16.8-24.6 33.7-34.5 51.8c-5.9 10.8-9.6 22.5-11.8 34.5H226.4c2.6-18.7 7.9-38.6 18.3-57.5c11.5-20.9 26.9-42.1 39.8-59.8l0 0 0 0 0 0c4.7-6.4 9-12.4 12.7-17.7zM192 128c-26.5 0-48 21.5-48 48c0 8.8-7.2 16-16 16s-16-7.2-16-16c0-44.2 35.8-80 80-80c8.8 0 16 7.2 16 16s-7.2 16-16 16zm0 384c-44.2 0-80-35.8-80-80V416H272v16c0 44.2-35.8 80-80 80z\"\/><\/svg><\/div><\/span><\/div>\n\n\n\n<div class=\"wp-block-stackable-heading stk-block-heading stk-block-heading--v2 stk-block stk-64fdf45\" id=\"plans-to-expand-the-companys-structure-partnerships-with-german-companies-a-financial-audit-in-germany-and-strong-the-need-to-present-consolidated-financial-statements-to-financial-institutions-led-sunotec-to-the-idea-of-implementing-a-software-solution-strong\" data-block-id=\"64fdf45\"><p class=\"stk-block-heading__text\">Plans to expand the company&#8217;s structure, partnerships with German companies, a financial audit in Germany and <strong>the need to present consolidated financial statements to financial institutions led Sunotec to the idea of implementing a software solution.<\/strong><\/p><\/div>\n<\/div><\/div>\n\n\n\n<div class=\"wp-block-stackable-spacer stk-block-spacer stk--no-padding stk-block stk-4178c8d\" data-block-id=\"4178c8d\"><style>.stk-4178c8d {height:35px !important;}<\/style><\/div>\n\n\n\n<p>The company chose the specialized platform &#8211; <a href=\"https:\/\/www.balkanservices.com\/eng\/business-software\/lucanet\" target=\"_blank\" rel=\"noreferrer noopener\">Lucanet CFO Platform<\/a> of our long-time partner Lucanet and has been working with it successfully for more than a year.<\/p>\n\n\n\n<div class=\"wp-block-stackable-spacer stk-block-spacer stk--no-padding stk-block stk-561ea57\" data-block-id=\"561ea57\"><style>.stk-561ea57 {height:35px !important;}<\/style><\/div>\n\n\n\n<p class=\"has-text-align-center has-medium-font-size\"><a href=\"https:\/\/www.balkanservices.com\/blog\/en\/mfg-reduced-financial-consolidation-time-from-7-days-to-2-days-case-study\/\" target=\"_blank\" rel=\"noreferrer noopener\">Read more: MFG reduced financial consolidation time from 7 days to 2 days [case study]<\/a><\/p>\n\n\n\n<div class=\"wp-block-stackable-spacer stk-block-spacer stk--no-padding stk-block stk-82e94c8\" data-block-id=\"82e94c8\"><style>.stk-82e94c8 {height:35px !important;}<\/style><\/div>\n\n\n\n<h2 class=\"wp-block-heading\">The need for <a href=\"https:\/\/www.balkanservices.com\/eng\/business-software\/lucanet\" target=\"_blank\" rel=\"noreferrer noopener\">Lucanet&#8217;s specialized financial management solution<\/a><\/h2>\n\n\n\n<p>Sunotec is a relatively large group with <strong>over 80 companies.<\/strong> The specifics of the PV business are such that companies are set up on an ongoing basis for solar farm construction projects.<\/p>\n\n\n\n<p>The restructuring of the Group results in a reshuffling of the companies exercising control.<\/p>\n\n\n\n<p><strong>Consolidation in such dynamics is complex to implement using spreadsheets (Excel).<\/strong><\/p>\n\n\n\n<p>In the meantime, the company is changing its financial and accounting system to one of the most popular <a href=\"https:\/\/www.balkanservices.com\/eng\/business-software\/lucanet\" target=\"_blank\" rel=\"noreferrer noopener\">ERP platforms<\/a> in the world.<\/p>\n\n\n\n<div class=\"wp-block-stackable-spacer stk-block-spacer stk--no-padding stk-block stk-44a5e3e\" data-block-id=\"44a5e3e\"><style>.stk-44a5e3e {height:35px !important;}<\/style><\/div>\n\n\n\n<div class=\"wp-block-stackable-icon-label stk-block-icon-label stk-block stk-56dec31\" data-block-id=\"56dec31\"><div class=\"stk-row stk-inner-blocks stk-block-content\">\n<div class=\"wp-block-stackable-icon stk-block-icon has-text-align-left stk-block stk-3d4fbba\" data-block-id=\"3d4fbba\"><style>.stk-3d4fbba .stk--svg-wrapper .stk--inner-svg svg:last-child{opacity:0.7 !important;}.stk-3d4fbba .stk--svg-wrapper .stk--inner-svg svg:last-child, .stk-3d4fbba .stk--svg-wrapper .stk--inner-svg svg:last-child :is(g, path, rect, polygon, ellipse){fill:var(--theme-palette-color-1, #F6891F) !important;}<\/style><span class=\"stk--svg-wrapper\"><div class=\"stk--inner-svg\"><svg style=\"height:0;width:0\"><defs><linearGradient id=\"linear-gradient-3d4fbba\" x1=\"0\" x2=\"100%\" y1=\"0\" y2=\"0\"><stop offset=\"0%\" style=\"stop-opacity:1;stop-color:var(--linear-gradient-3-d-4-fbba-color-1)\"><\/stop><stop offset=\"100%\" style=\"stop-opacity:1;stop-color:var(--linear-gradient-3-d-4-fbba-color-2)\"><\/stop><\/linearGradient><\/defs><\/svg><svg xmlns=\"http:\/\/www.w3.org\/2000\/svg\" viewBox=\"0 0 384 512\" aria-hidden=\"true\" width=\"32\" height=\"32\"><path d=\"M297.2 248.9C311.6 228.3 320 203.2 320 176c0-70.7-57.3-128-128-128S64 105.3 64 176c0 27.2 8.4 52.3 22.8 72.9c3.7 5.3 8.1 11.3 12.8 17.7l0 0c12.9 17.7 28.3 38.9 39.8 59.8c10.4 19 15.7 38.8 18.3 57.5H109c-2.2-12-5.9-23.7-11.8-34.5c-9.9-18-22.2-34.9-34.5-51.8l0 0 0 0c-5.2-7.1-10.4-14.2-15.4-21.4C27.6 247.9 16 213.3 16 176C16 78.8 94.8 0 192 0s176 78.8 176 176c0 37.3-11.6 71.9-31.4 100.3c-5 7.2-10.2 14.3-15.4 21.4l0 0 0 0c-12.3 16.8-24.6 33.7-34.5 51.8c-5.9 10.8-9.6 22.5-11.8 34.5H226.4c2.6-18.7 7.9-38.6 18.3-57.5c11.5-20.9 26.9-42.1 39.8-59.8l0 0 0 0 0 0c4.7-6.4 9-12.4 12.7-17.7zM192 128c-26.5 0-48 21.5-48 48c0 8.8-7.2 16-16 16s-16-7.2-16-16c0-44.2 35.8-80 80-80c8.8 0 16 7.2 16 16s-7.2 16-16 16zm0 384c-44.2 0-80-35.8-80-80V416H272v16c0 44.2-35.8 80-80 80z\"\/><\/svg><\/div><\/span><\/div>\n\n\n\n<div class=\"wp-block-stackable-heading stk-block-heading stk-block-heading--v2 stk-block stk-ba09e64\" id=\"\u0432-\u0436\u0435\u043b\u0430\u043d\u0438\u0435\u0442\u043e-\u0441\u0438-\u0434\u0430-\u0440\u0430\u0437\u0447\u0438\u0442\u0430-\u043d\u0430-\u043a\u043e\u0440\u0435\u043a\u0442\u043d\u0438-\u0434\u0430\u043d\u043d\u0438-\u0432-\u0441\u0440\u043e\u043a-\u0440\u044a\u043a\u043e\u0432\u043e\u0434\u0441\u0442\u0432\u043e\u0442\u043e-\u043d\u0430-sunotec-\u0432\u0437\u0435\u043c\u0430-\u0440\u0435\u0448\u0435\u043d\u0438\u0435-\u0434\u0430-\u0430\u0432\u0442\u043e\u043c\u0430\u0442\u0438\u0437\u0438\u0440\u0430-\u043f\u0440\u043e\u0446\u0435\u0441\u0430-\u043f\u043e-\u0444\u0438\u043d\u0430\u043d\u0441\u043e\u0432\u0430-\u043a\u043e\u043d\u0441\u043e\u043b\u0438\u0434\u0430\u0446\u0438\u044f-\u043a\u0430\u0442\u043e-\u0437\u0430-\u0442\u0430\u0437\u0438-\u0446\u0435\u043b-\u0441\u0435-\u043e\u0431\u0440\u044a\u0449\u0430-\u043a\u044a\u043c-\u043a\u043e\u043d\u0441\u0443\u043b\u0442\u0430\u043d\u0442\u0441\u043a\u0430\u0442\u0430-\u043a\u043e\u043c\u043f\u0430\u043d\u0438\u044f-balkan-services\" data-block-id=\"ba09e64\"><p class=\"stk-block-heading__text\">Wanting to rely on correct data in a timely manner, Sunotec&#8217;s management decided to automate the financial consolidation process, turning to the consulting company Balkan Services for this purpose.<\/p><\/div>\n<\/div><\/div>\n\n\n\n<div class=\"wp-block-stackable-spacer stk-block-spacer stk--no-padding stk-block stk-03a5cd8\" data-block-id=\"03a5cd8\"><style>.stk-03a5cd8 {height:35px !important;}<\/style><\/div>\n\n\n\n<h2 class=\"wp-block-heading\">Project specifics<\/h2>\n\n\n\n<p>Sunotec is a Bulgarian-German group whose companies prepare accounts according to different standards &#8211; International Financial Reporting Standards (IFRS), German GAAP or Bulgarian national accounting standards.<\/p>\n\n\n\n<div class=\"wp-block-stackable-spacer stk-block-spacer stk--no-padding stk-block stk-6775c00\" data-block-id=\"6775c00\"><style>.stk-6775c00 {height:35px !important;}<\/style><\/div>\n\n\n\n<div class=\"wp-block-stackable-icon-label stk-block-icon-label stk-block stk-af81e40\" data-block-id=\"af81e40\"><div class=\"stk-row stk-inner-blocks stk-block-content\">\n<div class=\"wp-block-stackable-icon stk-block-icon has-text-align-left stk-block stk-ccc4a93\" data-block-id=\"ccc4a93\"><style>.stk-ccc4a93 .stk--svg-wrapper .stk--inner-svg svg:last-child{opacity:0.7 !important;}.stk-ccc4a93 .stk--svg-wrapper .stk--inner-svg svg:last-child, .stk-ccc4a93 .stk--svg-wrapper .stk--inner-svg svg:last-child :is(g, path, rect, polygon, ellipse){fill:var(--theme-palette-color-1, #F6891F) !important;}<\/style><span class=\"stk--svg-wrapper\"><div class=\"stk--inner-svg\"><svg style=\"height:0;width:0\"><defs><linearGradient id=\"linear-gradient-ccc4a93\" x1=\"0\" x2=\"100%\" y1=\"0\" y2=\"0\"><stop offset=\"0%\" style=\"stop-opacity:1;stop-color:var(--linear-gradient-ccc-4-a-93-color-1)\"><\/stop><stop offset=\"100%\" style=\"stop-opacity:1;stop-color:var(--linear-gradient-ccc-4-a-93-color-2)\"><\/stop><\/linearGradient><\/defs><\/svg><svg xmlns=\"http:\/\/www.w3.org\/2000\/svg\" viewBox=\"0 0 384 512\" aria-hidden=\"true\" width=\"32\" height=\"32\"><path d=\"M297.2 248.9C311.6 228.3 320 203.2 320 176c0-70.7-57.3-128-128-128S64 105.3 64 176c0 27.2 8.4 52.3 22.8 72.9c3.7 5.3 8.1 11.3 12.8 17.7l0 0c12.9 17.7 28.3 38.9 39.8 59.8c10.4 19 15.7 38.8 18.3 57.5H109c-2.2-12-5.9-23.7-11.8-34.5c-9.9-18-22.2-34.9-34.5-51.8l0 0 0 0c-5.2-7.1-10.4-14.2-15.4-21.4C27.6 247.9 16 213.3 16 176C16 78.8 94.8 0 192 0s176 78.8 176 176c0 37.3-11.6 71.9-31.4 100.3c-5 7.2-10.2 14.3-15.4 21.4l0 0 0 0c-12.3 16.8-24.6 33.7-34.5 51.8c-5.9 10.8-9.6 22.5-11.8 34.5H226.4c2.6-18.7 7.9-38.6 18.3-57.5c11.5-20.9 26.9-42.1 39.8-59.8l0 0 0 0 0 0c4.7-6.4 9-12.4 12.7-17.7zM192 128c-26.5 0-48 21.5-48 48c0 8.8-7.2 16-16 16s-16-7.2-16-16c0-44.2 35.8-80 80-80c8.8 0 16 7.2 16 16s-7.2 16-16 16zm0 384c-44.2 0-80-35.8-80-80V416H272v16c0 44.2-35.8 80-80 80z\"\/><\/svg><\/div><\/span><\/div>\n\n\n\n<div class=\"wp-block-stackable-heading stk-block-heading stk-block-heading--v2 stk-block stk-c7c051b\" id=\"\u0441\u0438\u0441\u0442\u0435\u043c\u0430\u0442\u0430-\u0434\u0430\u0432\u0430-\u0432\u044a\u0437\u043c\u043e\u0436\u043d\u043e\u0441\u0442-\u0434\u0430-\u0441\u0435-\u043e\u0442\u0440\u0430\u0437\u044f\u0432\u0430\u0442-\u043a\u043e\u0440\u0435\u043a\u0446\u0438\u0438-\u043d\u0430-\u0438\u043d\u0434\u0438\u0432\u0438\u0434\u0443\u0430\u043b\u043d\u0438\u0442\u0435-\u043e\u0442\u0447\u0435\u0442\u0438-\u043d\u0430-\u0434\u0440\u0443\u0436\u0435\u0441\u0442\u0432\u0430\u0442\u0430-\u0441\u044a\u0433\u043b\u0430\u0441\u043d\u043e-\u043f\u0440\u0438\u043b\u043e\u0436\u0438\u043c\u0438\u0442\u0435-\u0441\u0447\u0435\u0442\u043e\u0432\u043e\u0434\u043d\u0438-\u0441\u0442\u0430\u043d\u0434\u0430\u0440\u0442\u0438-\u043f\u043e-\u043a\u043e\u0438\u0442\u043e-\u0433\u0440\u0443\u043f\u0430\u0442\u0430-\u0435-\u0438\u0437\u0431\u0440\u0430\u043b\u0430-\u0434\u0430-\u0438\u0437\u0433\u043e\u0442\u0432\u044f-\u043a\u043e\u043d\u0441\u043e\u043b\u0438\u0434\u0438\u0440\u0430\u043d\u0438\u044f-\u0441\u0438-\u0444\u0438\u043d\u0430\u043d\u0441\u043e\u0432-\u043e\u0442\u0447\u0435\u0442-\u0432\u0441\u0438\u0447\u043a\u0438-\u043a\u043e\u0440\u0435\u043a\u0446\u0438\u0438-\u0441\u0435-\u043e\u0442\u0447\u0438\u0442\u0430\u0442-\u043d\u0430-\u0442\u0440\u0430\u043d\u0437\u0430\u043a\u0446\u0438\u043e\u043d\u0435\u043d-\u043f\u0440\u0438\u043d\u0446\u0438\u043f-\u043a\u043e\u0435\u0442\u043e-\u043e\u0441\u0438\u0433\u0443\u0440\u044f\u0432\u0430-strong-\u043f\u044a\u043b\u043d\u0430-\u043f\u0440\u043e\u0441\u043b\u0435\u0434\u0438\u043c\u043e\u0441\u0442-\u043d\u0430-\u0434\u0430\u043d\u043d\u0438\u0442\u0435-strong\" data-block-id=\"c7c051b\"><p class=\"stk-block-heading__text\">The system enables adjustments to be reflected in the companies&#8217; individual accounts in accordance with the applicable accounting standards under which the Group has chosen to prepare its consolidated financial statements. All adjustments are reported on a transaction basis, <strong>ensuring the data&#8217;s full traceability.<\/strong><\/p><\/div>\n<\/div><\/div>\n\n\n\n<div class=\"wp-block-stackable-spacer stk-block-spacer stk--no-padding stk-block stk-c7ab3fc\" data-block-id=\"c7ab3fc\"><style>.stk-c7ab3fc {height:35px !important;}<\/style><\/div>\n\n\n\n<p>Our team has structured the primary forms of the accounts.<\/p>\n\n\n\n<p>A <strong>need has been identified to collect additional data<\/strong> and more detailed disaggregated data to automate the preparation of disclosures to the report.<\/p>\n\n\n\n<p><strong>Lucanet has a dedicated Group Report module for decentralized data collection. <\/strong>Here, additional rules are created and embedded to check and validate the data entered and its completeness &#8211; this provides the ability to verify the data at the individual report level, pre-reconciling the intra-group relationships, even before the consolidation process starts. A method is in place to import the Group Report data into the central part of Lucanet, where the consolidation procedures are executed.<\/p>\n\n\n\n<p>Since the implementation of Lucanet at Sunotec, <strong>our work as consultants has mainly consisted of training and supporting key users.<\/strong><\/p>\n\n\n\n<p>As the next phase of the project, automatic integration with one of the <a href=\"https:\/\/www.balkanservices.com\/eng\/business-software\/category\/erp\" target=\"_blank\" rel=\"noreferrer noopener\">ERP systems <\/a>used in the Group will be made for some of the companies. The aim is to download accounting data to <strong>speed up the data collection process on an individual basis<\/strong>.<\/p>\n\n\n\n<div class=\"wp-block-stackable-spacer stk-block-spacer stk--no-padding stk-block stk-cde985f\" data-block-id=\"cde985f\"><style>.stk-cde985f {height:35px !important;}<\/style><\/div>\n\n\n<div data-block=\"hook:3908\" class=\"alignfull\" data-block-structure=\"custom\"><div class=\"ct-container-full\" data-content=\"normal\"><article id=\"post-3908\" class=\"post-3908\"><div class=\"entry-content is-layout-constrained\">\n<div class=\"wp-block-media-text alignfull has-media-on-the-right is-stacked-on-mobile is-vertically-aligned-center is-image-fill is-style-default has-palette-color-8-color has-palette-color-4-background-color has-text-color has-background has-link-color wp-elements-326cc7970ec94e154d90381fd2939023\" style=\"margin-top:var(--wp--preset--spacing--50);margin-bottom:var(--wp--preset--spacing--50);margin-left:0;padding-top:0;padding-right:0;padding-bottom:0;padding-left:0;grid-template-columns:auto 37%\"><div class=\"wp-block-media-text__content\">\n<h2 class=\"wp-block-heading has-white-color has-text-color\" style=\"margin-top:var(--wp--preset--spacing--40);margin-right:0;margin-bottom:0;margin-left:0\">Looking for business software?<\/h2>\n\n\n\n<p class=\"has-palette-color-8-color has-text-color\" style=\"margin-top:var(--wp--preset--spacing--20);margin-bottom:var(--wp--preset--spacing--20);font-size:clamp(14px, 0.875rem + ((1vw - 3.2px) * 0.234), 17px);line-height:1.5\">Our team is here to listen carefully and offer the right solution for you.<\/p>\n\n\n\n<p><\/p>\n\n\n\n<div class=\"wp-block-stackable-button-group stk-block-button-group stk-block stk-088e0d7\" data-block-id=\"088e0d7\"><style>.stk-088e0d7{margin-bottom:30px !important;position:relative !important}@media screen and (max-width:999px){.stk-088e0d7{margin-bottom:36px !important}}<\/style><div class=\"stk-row stk-inner-blocks stk-block-content stk-button-group\">\n<div class=\"wp-block-stackable-button stk-block-button is-style-ghost stk-block stk-cb9bee0\" data-block-id=\"cb9bee0\"><style>.stk-cb9bee0{top:23px !important}.stk-cb9bee0 .stk-button{padding-right:33px !important;padding-left:33px !important;background:var(--theme-palette-color-1,#F6891F) !important}.stk-cb9bee0 .stk-button:hover:after{background:transparent !important;opacity:1 !important}:where(.stk-hover-parent:hover,.stk-hover-parent.stk--is-hovered) .stk-cb9bee0 .stk-button:after{background:transparent !important;opacity:1 !important}.stk-cb9bee0 .stk-button:before{border-style:solid !important;border-color:var(--theme-palette-color-8,#ffffff) !important;border-top-width:0px !important;border-right-width:0px !important;border-bottom-width:0px !important;border-left-width:0px !important}.stk-cb9bee0 .stk-button__inner-text{color:var(--theme-palette-color-8,#ffffff) !important}<\/style><a class=\"stk-link stk-button stk--hover-effect-lift\" href=\"https:\/\/www.balkanservices.com\/eng\/contact\" target=\"_blank\" rel=\"noreferrer noopener\"><span class=\"has-text-color stk-button__inner-text\">Schedule a free consultation &gt;<\/span><\/a><\/div>\n<\/div><\/div>\n<\/div><figure class=\"wp-block-media-text__media\" style=\"background-image:url(https:\/\/www.balkanservices.com\/blog\/wp-content\/uploads\/2024\/01\/BOO2528-1024x638.jpg);background-position:50% 50%\"><img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"638\" src=\"https:\/\/www.balkanservices.com\/blog\/wp-content\/uploads\/2024\/01\/BOO2528-1024x638.jpg\" alt=\"\" class=\"wp-image-3887 size-full\" srcset=\"https:\/\/www.balkanservices.com\/blog\/wp-content\/uploads\/2024\/01\/BOO2528-1024x638.jpg 1024w, https:\/\/www.balkanservices.com\/blog\/wp-content\/uploads\/2024\/01\/BOO2528-300x187.jpg 300w, https:\/\/www.balkanservices.com\/blog\/wp-content\/uploads\/2024\/01\/BOO2528-768x478.jpg 768w, https:\/\/www.balkanservices.com\/blog\/wp-content\/uploads\/2024\/01\/BOO2528-1536x957.jpg 1536w, https:\/\/www.balkanservices.com\/blog\/wp-content\/uploads\/2024\/01\/BOO2528-2048x1276.jpg 2048w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\" \/><\/figure><\/div>\n\n\n\n<p><\/p>\n<\/div><\/article><\/div><\/div>\n\n\n<div class=\"wp-block-stackable-spacer stk-block-spacer stk--no-padding stk-block stk-49a4117\" data-block-id=\"49a4117\"><style>.stk-49a4117 {height:35px !important;}<\/style><\/div>\n\n\n\n<h2 class=\"wp-block-heading\">Timely reporting and smooth process<\/h2>\n\n\n\n<p>Since implementing <a href=\"https:\/\/www.balkanservices.com\/eng\/business-software\/lucanet\" target=\"_blank\" rel=\"noreferrer noopener\">Lucanet<\/a> at Sunotec, the <strong>financial audit process has been more straightforward<\/strong>. The company&#8217;s auditors have individual profiles in the system. They can carry out data verification without the need for constant transmission of file information between them and the responsible employees in the Group.&nbsp;<\/p>\n\n\n\n<div class=\"wp-block-stackable-spacer stk-block-spacer stk--no-padding stk-block stk-1fe1aeb\" data-block-id=\"1fe1aeb\"><style>.stk-1fe1aeb {height:35px !important;}<\/style><\/div>\n\n\n\n<div class=\"wp-block-stackable-icon-label stk-block-icon-label stk-block stk-6350117\" data-block-id=\"6350117\"><div class=\"stk-row stk-inner-blocks stk-block-content\">\n<div class=\"wp-block-stackable-icon stk-block-icon has-text-align-left stk-block stk-a34b7bb\" data-block-id=\"a34b7bb\"><style>.stk-a34b7bb .stk--svg-wrapper .stk--inner-svg svg:last-child{opacity:0.7 !important;}.stk-a34b7bb .stk--svg-wrapper .stk--inner-svg svg:last-child, .stk-a34b7bb .stk--svg-wrapper .stk--inner-svg svg:last-child :is(g, path, rect, polygon, ellipse){fill:var(--theme-palette-color-1, #F6891F) !important;}<\/style><span class=\"stk--svg-wrapper\"><div class=\"stk--inner-svg\"><svg style=\"height:0;width:0\"><defs><linearGradient id=\"linear-gradient-a34b7bb\" x1=\"0\" x2=\"100%\" y1=\"0\" y2=\"0\"><stop offset=\"0%\" style=\"stop-opacity:1;stop-color:var(--linear-gradient-a-34-b-7-bb-color-1)\"><\/stop><stop offset=\"100%\" style=\"stop-opacity:1;stop-color:var(--linear-gradient-a-34-b-7-bb-color-2)\"><\/stop><\/linearGradient><\/defs><\/svg><svg xmlns=\"http:\/\/www.w3.org\/2000\/svg\" viewBox=\"0 0 448 512\" aria-hidden=\"true\" width=\"32\" height=\"32\"><path d=\"M342.6 86.6c12.5-12.5 12.5-32.8 0-45.3s-32.8-12.5-45.3 0L160 178.7l-57.4-57.4c-12.5-12.5-32.8-12.5-45.3 0s-12.5 32.8 0 45.3l80 80c12.5 12.5 32.8 12.5 45.3 0l160-160zm96 128c12.5-12.5 12.5-32.8 0-45.3s-32.8-12.5-45.3 0L160 402.7 54.6 297.4c-12.5-12.5-32.8-12.5-45.3 0s-12.5 32.8 0 45.3l128 128c12.5 12.5 32.8 12.5 45.3 0l256-256z\"\/><\/svg><\/div><\/span><\/div>\n\n\n\n<div class=\"wp-block-stackable-heading stk-block-heading stk-block-heading--v2 stk-block stk-edd92f3\" id=\"we-can-summarise-that-the-main-factors-for-the-success-of-this-complex-and-large-scale-project-are-the-competence-and-professionalism-of-the-people-responsible-for-its-implementation-both-on-the-part-of-sunotec-and-balkan-services\" data-block-id=\"edd92f3\"><p class=\"stk-block-heading__text\">We can summarise that the main factors for the success of this complex and large-scale project are the competence and professionalism of the people responsible for its implementation, both on the part of Sunotec and Balkan Services.<\/p><\/div>\n<\/div><\/div>\n\n\n\n<div class=\"wp-block-stackable-spacer stk-block-spacer stk--no-padding stk-block stk-e1d1354\" data-block-id=\"e1d1354\"><style>.stk-e1d1354 {height:35px !important;}<\/style><\/div>\n\n\n\n<p>The team told us that the key Lucanet user in the company has previous experience with the system and knows it. To date, he has been able to prepare the Group&#8217;s consolidated financial statements relying on our assistance.<\/p>\n\n\n\n<div class=\"wp-block-stackable-spacer stk-block-spacer stk--no-padding stk-block stk-f1b5f43\" data-block-id=\"f1b5f43\"><style>.stk-f1b5f43 {height:35px !important;}<\/style><\/div>\n\n\n\n<blockquote class=\"wp-block-stackable-blockquote stk-block-blockquote stk-block stk-978a3be is-style-default\" data-v=\"2\" data-block-id=\"978a3be\"><div class=\"has-text-align-left stk-block-blockquote__content stk-container stk-978a3be-container stk-hover-parent\"><div class=\"stk-block-content stk-inner-blocks\">\n<div class=\"wp-block-stackable-icon stk-block-icon has-text-align-left stk-block stk-a0940de\" data-block-id=\"a0940de\"><style>.stk-a0940de .stk--svg-wrapper .stk--inner-svg svg:last-child{height:50px !important;width:50px !important;opacity:0.6 !important;}.stk-a0940de .stk--svg-wrapper .stk--inner-svg svg:last-child, .stk-a0940de .stk--svg-wrapper .stk--inner-svg svg:last-child :is(g, path, rect, polygon, ellipse){fill:var(--theme-palette-color-1, #F6891F) !important;}.stk-a0940de .stk--svg-wrapper .stk--inner-svg{border-radius:64% !important;}<\/style><span class=\"stk--svg-wrapper\"><div class=\"stk--inner-svg\"><svg style=\"height:0;width:0\"><defs><linearGradient id=\"linear-gradient-a0940de\" x1=\"0\" x2=\"100%\" y1=\"0\" y2=\"0\"><stop offset=\"0%\" style=\"stop-opacity:1;stop-color:var(--linear-gradient-a-0940-de-color-1)\"><\/stop><stop offset=\"100%\" style=\"stop-opacity:1;stop-color:var(--linear-gradient-a-0940-de-color-2)\"><\/stop><\/linearGradient><\/defs><\/svg><svg xmlns=\"http:\/\/www.w3.org\/2000\/svg\" viewBox=\"0 0 50 50\" aria-hidden=\"true\" width=\"32\" height=\"32\"><path d=\"M9.4 14.6c-2.4 2.9-3.6 5.9-3.6 8.9 0 1.3.2 2.4.5 3.3 1.8-1.4 3.8-2.1 6-2.1 2.9 0 5.3.9 7.3 2.7 2 1.8 3 4.2 3 7.3 0 1.9-.5 3.6-1.4 5.1-.9 1.5-2.2 2.7-3.8 3.6s-3.3 1.3-5.1 1.3c-4.1 0-7.3-1.6-9.5-4.9C.9 36.9 0 33.5 0 29.4c0-5.2 1.4-9.9 4.1-14 2.8-4.1 6.9-7.5 12.5-10l1.5 2.8c-3.3 1.3-6.2 3.5-8.7 6.4zm27.5 0c-2.4 2.9-3.6 5.9-3.6 8.9 0 1.3.2 2.4.5 3.3 1.8-1.4 3.8-2.1 6-2.1 2.9 0 5.4.9 7.4 2.7 2 1.8 3 4.2 3 7.3 0 2.8-1 5.2-3 7.1-2 1.9-4.4 2.9-7.3 2.9-4.1 0-7.3-1.6-9.5-4.9-1.8-2.7-2.8-6.2-2.8-10.3 0-5.2 1.4-9.9 4.1-14 2.8-4.1 6.9-7.5 12.5-10l1.5 2.8c-3.5 1.2-6.4 3.4-8.8 6.3z\"><\/path><\/svg><\/div><\/span><\/div>\n\n\n\n<div class=\"wp-block-stackable-text stk-block-text stk-block stk-7da236c\" data-block-id=\"7da236c\"><style>.stk-7da236c .stk-block-text__text{font-size:20px !important;}@media screen and (max-width:999px){.stk-7da236c .stk-block-text__text{font-size:20px !important;}}<\/style><p class=\"stk-block-text__text\"><em>I have been using Lucanet in my work for more than 5 years and believe that it deservedly holds one of the leading positions among consolidation systems worldwide.<\/em><br><em>For businesses with a complex organizational structure such as ours, the speed of data processing, reliability in the execution of consolidation procedures, and flexibility in the presentation of reports in different sections are of particular importance &#8211; and Lucanet meets our requirements and expectations completely&#8220;,<\/em> shared his impressions of working with the platform Stoyan Tarakchiev, Consolidation Manager at Sunotec.<\/p><\/div>\n<\/div><\/div><\/blockquote>\n\n\n\n<div class=\"wp-block-stackable-spacer stk-block-spacer stk--no-padding stk-block stk-2b130d8\" data-block-id=\"2b130d8\"><style>.stk-2b130d8 {height:35px !important;}<\/style><\/div>\n\n\n\n<p>At this stage, Sunotec&#8217;s consolidated financial statements for 2023 have been prepared in Lucanet.<\/p>\n\n\n\n<div class=\"wp-block-stackable-spacer stk-block-spacer stk--no-padding stk-block stk-42fc5bf\" data-block-id=\"42fc5bf\"><style>.stk-42fc5bf {height:35px !important;}<\/style><\/div>\n\n\n\n<div class=\"wp-block-stackable-divider alignwide stk-block-divider has-text-align-center stk-block stk-1935f37\" data-block-id=\"1935f37\"><hr class=\"stk-block-divider__hr\"\/><\/div>\n\n\n\n<p>At Balkan Services, we have expert knowledge of business, technology and legislation and speak all three languages. We will listen carefully and advise you on choosing the right business system for your needs<\/p>\n\n\n\n<div class=\"wp-block-buttons is-layout-flex wp-block-buttons-is-layout-flex\">\n<div class=\"wp-block-button\"><a class=\"wp-block-button__link wp-element-button\" href=\"https:\/\/www.balkanservices.com\/eng\/contact\" target=\"_blank\" rel=\"noreferrer noopener\">Contact us &gt;<\/a><\/div>\n<\/div>\n\n\n\n<p>Balkan Services has implemented business software solutions since 2006 and has completed over 720 projects for over 390 clients. We follow a proven implementation methodology with clear steps and best practice know-how.<\/p>\n\n\n\n<p><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Sunotec consolidates its financial statements using Lucanet&nbsp; The classic example of companies taking the step to implement a financial consolidation software solution can be illustrated like this:&nbsp;&nbsp; This is the point at which management realizes that it needs to look for a solution to automate the process of preparing a consolidated report so that: A [&hellip;]<\/p>\n","protected":false},"author":7,"featured_media":5251,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[247,245],"tags":[],"class_list":["post-5257","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-cpm-for-finance","category-projects"],"blocksy_meta":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin 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