Get rid of old relics! Update your database
In the finance world, short response times during the preparation of (consolidated) financial statements and permanently changing reporting requirements are increasingly becoming the focus of attention. It is therefore essential to work with a database that meets the current requirements in terms of transparency and performance. To ensure that your database also meets these requirements, we offer you the opportunity to optimize your database with our Financial Advisory team.
What is a database rebuild?
In every database, old relics seem to pile up over time. These relics make databases unnecessarily bloated. The result? Working with LucaNet becomes more cumbersome and slower. And not just for the experienced members of your finance team, but also for new employees who need to become familiar with the software.
When a database is rebuilt, the operational database is optimized by cleaning up historical structures and dimension value. In addition, an analysis of data flows and processes, as well as the integration of the latest modules and apps, will increase the usefulness of databases.
The essential main feature of a database rebuild is the cut of the obsolete data or the cut of the actual data level. In this process, the historical values of the individual companies are removed and imported as the opening balance sheet value at the agreed reporting date. The historical data will continue to be permanently available in a separate database.
Why is a database rebuild a good idea?
- Uncovering of unused potentials as well as relics
- Increased transparency due to the elimination of unused elements
- Significantly increase performance by removing historical data
- Permanent provision of obsolete data in a separate DB with read access
- Cost savings due to freed-up reporting entities
- Analysis of data flows – optimal combination of tools and modules
- Process analyses – ensuring the optimal use of the individual modules
1. Cleanup of the current database
Do you want to continue using your existing database? With the help of a copy we will then clean up your database for you with the help of a copy. At the same time, we are creating a new clean starting point without negatively impacting the existing reporting tools as well as reporting periods. Our consultants provide you with the appropriate tools and the necessary know-how to rebuild your database step by step.
2. Exchange of your database
Would you like to keep working but with a completely new database? This is also possible. With this variant, we also have the option of reducing the data set by excluding periods from the past that are no longer needed from the transfer to the new database. We transfer the structures and data sets that continue to be relevant into a new database that complies with the current accounting standards. In the case of a database exchange, the changeover to automated consolidation logic can also take place.
A starting point that is clear and cleaned up is guaranteed this way. Important workspaces can be transferred to the new database, so that you can continue working with your database in a comfortable fashion.
Regardless of which alternative is chosen, archiving the original database including legacy data as a read-only database is possible at any time.
You think your database has seen better days? Then treat yourself to a free, non-binding database analysis by our LucaNet Financial Advisory team. We go through the existing data model with you and weigh up the advantages and disadvantages of the respective variant. Afterwards, you can take your time to decide on the best solution for you.
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