Case Study: Thai Union achieves fast, accurate consolidation and 10‑day monthly close with LucaNet

Successful fast close with LucaNet

Thai Union Group, a Bangkok‑based global seafood producer, faced slow, error‑prone consolidation and reporting from an Excel‑based process—monthly reporting took 25 days, intercompany reconciliation stretched over two weeks, and complex, multi‑GAAP group structures made planning difficult. To address this, the company engaged LucaNet and deployed its consolidation and planning suite (including LucaNet.Financial Consolidation, LucaNet.Planner, LucaNet.Group Report and LucaNet.Importer) to replace spreadsheets, automate data collection and centralize reporting.

LucaNet implemented a decentralized, web‑based data collection and consolidation solution across 65+ accounting areas with roughly 108 users, using consolidation wizards, planning forms and Excel integration to streamline workflows. The result: consolidation time fell from 10 to 1.5 days, intercompany reconciliation dropped from two weeks to three days, monthly reporting shortened from 25 to 10 days, and data quality, transparency and efficiency improved materially.

Thai Union

Pakin Thamrongwarasart

Head of Department Group Operations Assurance & Risk Management