This represents the third acquisition in the last 2 years from Lucanet, as the global CFO SaaS platform continues its focus on enhancing its market reach and solutions
London-based Causal will continue its service for 300+ finance leaders around the world, enabling Lucanet’s customers access to additional finance solutions
The integration of this modern, cloud-native FP&A solution sees Lucanet further demonstrate its commitment to supporting the office of the CFO with the latest, most powerful technology available
Berlin, Thursday 31 October 2024 – Lucanet, a leading global provider of end-to-end CFO software solutions, is pleased to announce the successful acquisition of Causal, a key innovator in the financial planning and analysis (FP&A) market. This acquisition strengthens Lucanet’s market position by expanding the range of core solutions in its CFO Solution Platform to include Extended Planning and Analysis (xP&A).
The introduction of Causal into Lucanet’s suite of solutions directly addresses the market need for seamless operational planning, budgeting, forecasting, and scenario planning. This strategic move underscores the company’s commitment to streamlining financial processes across the most mission-critical CFO functions. Causal’s flexible out-of-the-box solution will integrate with Lucanet’s CFO Solution Platform, adding to the existing purpose-built solutions for financial consolidation, ESG reporting, disclosure management, tax compliance, and cash management. It will enhance Lucanet’s market reach and transform a best-in-class FP&A solution into a market-leading xP&A solution, providing unparalleled value to its customers.
Many companies relying on spreadsheets for their financial analysis struggle to handle complex datasets and modeling requirements. By connecting financial and operational planning across all departments, businesses increase efficiency and eliminate the risk of error from manual processes. The new xP&A solution empowers organizations with a superior ability to anticipate potential issues by employing predictive rather than reactive strategies, tackling complexity with ease through real-time data insights, inter-departmental collaboration, and robust integration capabilities.
Acquiring Causal also brings on board an experienced team, enabling Lucanet to complement its know-how across the various CFO functions. At the same time, Lucanet’s customers are offered an addition to their existing finance solution, filling what may have been a gap in their business needs.
“I am very proud to welcome the Causal team as the newest addition to the Lucanet Group,” says Elias Apel, CEO of the Lucanet Group. “With Causal, we are extending our solution offering into the highly relevant and strategic category of operational planning. This addition means that our existing users as well as future customers will benefit from a unique, extended planning solution that shares the same product DNA as Lucanet’s existing value proposition: easy and intuitive user experience, a quick-to-implement cloud solution and cutting-edge, out-of-the box functionalities – supported by natural language modeling and AI automation. The acquisition of Causal concludes a year-long strategic search for the right partner. We found that partner in Taimur, Lukas and their team, who impressed us with their revolutionary and modern approach to operational planning but also their market traction across different customer sizes and their presence in the UK and US, two highly strategic geographies for Lucanet.”
"Causal was on a great trajectory as a standalone product, but after spending time with the Lucanet team, we saw the tremendous growth potential of joining forces,” says Taimur Abdaal, CEO at Causal. “We're excited to join Lucanet's fantastic product suite and business, which will accelerate our go-to-market journey and let us bring Causal to thousands more customers over the coming years."
According to Dr. Christian Fuchs, Senior Analyst and Head of Data & Analytics Research at BARC: “Lucanet's acquisition of Causal, and in particular the subsequent introduction of operational planning capabilities, represents a significant step forward in closing critical gaps and provides the opportunity to focus on end-to-end planning processes within organizations. As a modern planning solution, Causal provides operational and strategic planning capabilities that enable businesses to streamline processes, improve collaboration and drive informed decision making at multiple organizational levels. Its multi-dimensional capabilities enable deeper and more sophisticated analysis of data from disparate source systems, providing multi-dimensional insights that enable users to perform detailed scenario planning. By integrating a modern, cloud-native, third-generation planning solution, Lucanet reaffirms its commitment to providing its customers with state-of-the-art SaaS technology to support operational, financial and strategic decision-making processes.“
“Lucanet’s decision to acquire Causal shows its commitment to providing its customers with operational planning with a modern, easy-to-use platform,” says Paul Barnhurst, Founder, The FP&A Guy. “This has been a missing gap for Lucanet, and today’s announcement shows a commitment to closing the gap and providing its customers with a holistic operational and financial planning tool. Causal is a third-generation planning solution that is multi-dimensional, cloud-based, requires no coding and provides its users with a modern, straightforward modeling experience. With this acquisition, Lucanet reaffirms its commitment to be a leading provider of software for the office of the CFO.”
About Lucanet
Lucanet is the CFO Solution Platform built for modern finance leaders to automate processes including financial consolidation and planning, disclosure management, ESG reporting, lease accounting, tax compliance, and treasury management. More than 5,500 companies around the world rely on our easy-to-use and out-of-the-box SaaS platform to help them lead with ease by managing their strategic and reporting needs with speed and accuracy.
The company is headquartered in Berlin with additional offices in Germany, Austria, Switzerland, the Netherlands, Belgium, Spain, France, Italy, the United Kingdom, China, Singapore, and the United States. Together with an international partner network, Lucanet’s professional service team and 800+ employees worldwide focus their passion and expertise on the performance and success of the CFO office.
About Causal
Causal is an all-in-one platform for financial reporting, planning, modelling, and budgeting. Causal's software has the power of an enterprise FP&A tool in a lightweight solution that can be used self-serve. The company has 100s of customers ranging from early-stage startups to public companies.
Contact Information
For more information, please contact: pr@lucanet.com