CFO Leadership

Pride Month is an opportunity for many 2SLGBTQIA+ communities around the world to come together to celebrate visibility, diversity, acceptance, love, community and the power of connection.  While Pride Month gives us many reasons to celebrate, it is also a reminder that there is still much more to do on a global scale and that the fight for acceptance, inclusion and equality is far from over. And that rings true especially in the workplace, where many members of the 2SLGBTQIA+ community still experience discrimination, discomfort and barriers to equal opportunity and advancement. PRIDE MONTH Celebrated in June in many countries, the month was chosen to commemorate the anniversary of the 1969 Stonewall riots in New York City, a seminal moment in LGBTQ history. This wasn’t the first riot that started the gay rights movement. As this article on the history of the Stonewall riots claims,  “what was different about Stonewall was that gay activists around the country were prepared to commemorate it publicly. It was not the first ‘rebellion’, but it was the first to be called ‘the first,’ and the act of naming mattered.”  The Stonewall riots were evidence of how the movement had grown rapidly in strength and in many ways, the riots helped catalyze the 2SLGBTQIA+ rights movement into what it has become today. According to this June 2021 Catalyst report, 20% of LGBTQ Americans have experienced discrimination based on sexual orientation or gender identity when applying for jobs and that those experiences further vary by race and ethnicity. Pay can also be affected. According to the report, 22% of LGBTQ Americans have not been paid equally or promoted at the same rate as their peers. The report also claimed that almost half (46%) of LGBTQ workers in the United States are “closeted in the workplace” and report feeling exhausted due to spending time and energy hiding their authentic selves or being subjected to biased jokes. And the situation is even worse for transgender women who are subjected to different types of hate, including bathroom accessibility, being referred to by incorrect pronouns and having to endure inappropriate questioning. In the U.K., the report found that 35% of LGBTQ employees and 51% of transgender employees conceal their identity in fear of discrimination. And according to this McKinsey & Company report, it’s more difficult for people outside Europe and North America to come out at work. Three-quarters of North American respondents and 78% of European respondents were broadly out at work compared to only 54% of respondents from other regions. Diversity, Equity and Inclusion in the Workplace for ALL The importance of fostering a culture of inclusion is, as this article says, “a business imperative, not a trend.” The article shared Deloitte insights that revealed that “inclusive cultures translate into value: Organizations with inclusive cultures are twice as likely to meet or exceed financial targets, three times more likely to be high performing, six times more likely to be innovative and agile and eight times more likely to achieve better business outcomes.”  Inclusive work environments often determine whether 2SLGBTQIA+ employees leave or stay in their jobs. According to the Catalyst report, 25% of LGBTQ employees reported staying in a job due to a LGBT-inclusive work environment and 10% left a job because the work environment did not accept LGBTQ people. DEI in the Workplace How can you build a culture of diversity, equity and inclusion in the workplace?   4 Ways To Celebrate Pride in the Workplace in June and Beyond Pride Month is an ideal time to celebrate diversity, equity and inclusion in the workplace, but it’s also the perfect opportunity to reflect on how you can support your 2SLGBTQIA+ workforce all year long. Read on to discover four ways to celebrate pride in June and beyond. 1. Walk the Walk Year Round for 2SLGBTQIA+ Community Promoting, sponsoring and participating in Pride Month events is a sure way to show employees, prospects and partners that your company is supportive and welcoming to members of the 2SLGBTQIA+ community. But if you truly support this community, why not show them your support and ongoing commitment all year round? At Vena, for instance, we’ve held learning labs and workshops throughout the year with The Get REAL Movement, a Canadian nonprofit focused on combatting 2SLGBTQ+ discrimination, racism and bullying in schools, summer camps and workplace. We’ve also supported and attended an annual conference hosted by Venture Out, Canada’s first and largest tech and social impact nonprofit organization connecting LGBTQA2S+ people in tech to career opportunities, mentors and each other. As more companies are “rainbow” or “pink” washing (jumping on the Pride bandwagon as an advertising opportunity or to sell products), it’s important to show that your efforts are authentic—during Pride Month and beyond. This means truly walking the walk in how you look inward as an organization and reflect not only representation in your company, but also how your employees get to experience a sense of inclusion and community in your workplace. Being a champion for 2SLGBTQIA+ equality includes: Designing your people programs with inclusivity in mind, from the hiring process, compensation and benefits packages, right down to the policies and opportunities for advancement   Using and promoting inclusive language in your organization Making sure your branding and corporate designs and images reflect diversity Showing your public support Partnering with 2SLGBTQIA+ organizations and businesses Giving back to the community Participating in 2SLGBTQIA+ events all year long Keeping a lens focused on intersectionality in all your inclusivity work Hear what Camille Dundas, Co-Founder and Editor-in-Chief of Canada’s largest Black online magazine ByBlacks.com, says about why intersectionality is important to diversity, equity and inclusion. Click the video below. 2. Share 2SLGBTQIA+ Stories and Experiences Oftentimes, members of the 2SLGBTQIA+ community can feel tokenized or like an “only”  within an organization (the only one on a team or in a meeting with their gender identity, sexuality or race). The McKinsey & Company report on how the LGBTQ+ community fares in the workplace revealed that LGBTQ+ women face more inappropriate comments and sexual harassment at work and that LGBTQ+ women—especially women of color—are dramatically more likely to experience being an “only”. In fact, the Catalyst report revealed that nearly two thirds (59%) of non-LGBTQ employees believe it’s “unprofessional” to discuss sexual orientation or gender identity in the workplace, making it even harder for members of the LGBTQ+ community to feel comfortable being their authentic selves. How can you assist your 2SLGBTQIA+ workforce, create an inclusive environment for them and encourage them to bring their authentic selves to work? By providing them with a support system. This includes encouraging them to share their stories and experiences (only if they are comfortable doing so), giving them the opportunity to speak up for change and leading by example. Kendra James-Anderson, Virtual CFO, owner of The Finance Femme and member of the 2SLGBTQIA+ community, says "“Regardless of the profession or type of business you have, you should bring your authentic self to work every day. Click the video below to hear more of Kendra's thoughts on pride in the workplace.   Showcasing diverse voices in your company not only gives everyone the freedom to be themselves in their professional lives, it also helps develop 2SLGBTQIA+ allyship, inspires all of your employees to thrive in the workplace and provides minority and underrepresented groups with hope for the future. 3. Recognize the Achievements of 2SLGBTQIA+ Employees Highlighting the representation and achievements of your 2SLGBTQIA+ employees and sharing this messaging in your branding sends prospective talent a strong message: your workplace has a welcoming, inclusive and diverse culture.  But according to this article, although an increasing number of companies have risen to show solidarity with the LGBTQ+ community through campaigns, there’s still a long way to go to ensure all efforts are authentic. The article quoted research commissioned by the Gay Times and Karmarama in which 64% of adults think it’s positive for the LGBTQ+ community to be visible in advertisements, while 72% of the LGBTQ+ community think the way they are represented is tokenistic. In today’s world where authenticity is becoming increasingly important to consumers, brands need to be careful, as this article says, to ensure that “their Pride initiatives are flying the flag in a way that actually drives change and supports LGBTQ+ causes in the process.” 4. Ensure 2SLGBTQIA+ Representation in Leadership According to the Catalyst report, openly LGBT corporate leaders are rare. The report claims that “fewer than 0.3% of Fortune 500 board directors were openly LGBT in 2020.” And it was only in 2018 that Beth Ford, CEO of Land O’Lakes, became the first openly gay woman to run a Fortune 500 company. Having visible 2SLGBTQIA+ leadership at your company not only encourages employees to bring their true selves to work, according to this article, it also can have a major impact on engagement. The article claims that 2SLGBTQIA+employees are 85% more likely to be out at companies where senior executives are also out. Promoting Pride in the Workplace Pride doesn’t start and end in June. Let that rainbow flag fly all year round. Supporting the 2SLGBTQIA+ community is an ongoing commitment and shows those inside and outside of your workplace that your company not only supports 2SLGBTQIA+ community, but that it is truly an inclusive environment that welcomes all.

The countdown to Vena Nation week continues! This interview features Rishi Grover, our Co-founder and Chief Technology Officer, for a preview of his keynote talk, The Future of Data Transformation. Read on to discover what data transformation is all about—and don’t forget to register for Vena Nation Week 2021 today! What does the term “data transformation” mean to you? Rishi Grover: Data transformation is the process of optimizing your analytics strategy so you can rely on cross-functional business data to make strategic decisions. Every individual company is on their own journey to becoming more data-oriented—and having confidence in your data-driven business decisions is the ultimate goal for everyone. Data transformation happens in stages. You need to identify what your most important data is, figure out where it lives and then get your data to a “utopia” state where you can actually extract insights from it. My session during Vena Nation week will be about helping business leaders understand, “Okay, this is where we are today with data transformation, this is where we want to be and this is the path we need to take to get there.” What do you think are the most important steps on the road to data transformation? RG: Good question. I’ll start by talking about an approach companies shouldn’t take, which is looking at all their disparate data sources and trying to fix everything all at once. It becomes a psychological hurdle in that scenario—because even the most advanced companies might not know where to start. A much safer strategy involves identifying your ideal end state and then rolling out a phased approach with realistic steps to getting there. First you have to look at the KPIs you want to measure. Then you need to figure out the data you need to represent those metrics. Once you have access to the focused data you’re looking for, the next steps are validating it, optimizing it and getting it into the hands of the people who need it most.  The phased approach is so important because every business has different priorities. Once you’ve got your most important KPIs figured out, then you can start to add more sub-level data points into the mix and tell a more comprehensive story about how your business is performing.  Why do you think finance leaders are in the best position to spearhead data transformation initiatives? RG: The office of finance is the only department connected to every other function within a company. Finance leaders know better than anyone what metrics and KPIs run a business. CFOs are close with everyone—especially operations leaders—because they look at the business as a whole when making decisions about dollars and cents.     How do you think machine learning will advance data transformation in finance? RG: It’s a pretty complex topic, but the core idea is the ability to take a huge data set and have a machine run through it to identify trends, anomalies and correlations. It gives you a granular level of insight in a short amount of time, which is helpful when your business has a lot of data to sift through. This can really help finance professionals when they’re doing a lot of forecasting, because you can put training patterns in place to help make predictions about future outcomes. Your end users don’t even need to know what the underlying technology is—because at the end of the day, they just care about getting the information they need to run the business.  A big part of my session will be demystifying machine learning for the audience. Some businesses might not even need machine learning to get to that “utopia” state I mentioned earlier. You just need to make sure your data is reliable and that your users have a seamless experience when they’re working to extract insights from it.  What are some strategies finance leaders can employ to make communicating the story behind their data a little bit easier? RG: In my opinion, it’s all about transparency through business intelligence. You need to ensure the people who need financial or operational data can get it without having to email the director of finance. That’s where business intelligence solutions come into play here. Just look at Power BI, for example. Tools like that are so affordable now, which means everyone across your organization can have easy-to-read dashboards that tell a story. So when you marry business intelligence with a proper data transformation strategy, everyone has a chance to collaborate with reliable data they actually understand.  When companies are further along with data transformation, what do you think will change about how they interact with their data day-to-day?   RG: I think strategic analytics efforts will become proactive rather than reactive. Here’s what I mean by that: Instead of logging into a system and looking for insights yourself, the system will actually alert you about meaningful information on its own. What you see will be based on everything you’ve looked at historically, which is really cool to think about—especially when you can trust the data. For me, that’s going to be the fundamental shift over the next five to 10 years.  What’s the number one thing you think the audience will get out of this session? RG: The most important thing I want the audience to take away from this is that data transformation isn’t just a “trend.” It’s not something you should be thinking about tomorrow or later next year. It’s happening right now—and companies need to be ready for that.  This session will provide a roadmap for how to get ready. I’ll walk through some actionable steps your business can take today so you can prioritize what to focus on as you embark on your data transformation journey. June 14 - 18, 2021 Join Rishi for Vena Nation Week 2021! Eager to hear more? Sign up free for Rishi's Vena Nation week keynote, The Future of Data Transformation, on June 17th at 10 AM EST.

As Vena Nation week approaches, we sat down with our CFO, Darrell Cox, to talk a little bit about the evolution of the strategic CFO and what we can expect from his upcoming talk for Vena Nation week. How has the role of the CFO changed over the years? How do you see it developing in the future? Darrell Cox: The role has definitely evolved over time. And I believe it has in a way also remained the same.  At the root, a finance leader's role is still always about taking ownership of the numbers and bringing insights to the business and enabling better business decisions in the most timely manner possible. The evolution has been in how we do this and how far we can take this. And what’s enabling us to evolve is technology. With the latest technology, businesses are producing more and more data that is very relevant to finance. Technology is also making it less expensive to get very large amounts of data to business stakeholders. Technology is also much easier to use and more easily embraced by business users outside of finance. The most evolved finance team leverages the latest in technology to bring in more data from more places from across an organization, engaging all business stakeholders and delivering insights to them more often and ideally on demand. I see this trend continuing for the foreseeable future. And leaders who are embracing modern cloud technology today will be able to build and maintain a competitive advantage for their organizations over lagging competitors. What does it mean to be a strategic CFO in your opinion? And how has being a strategic CFO impacted your approach to your role? DC: This can mean a lot of different things depending sometimes on an exigent situation. For me, generally, it means being action oriented and growth minded—proactively looking for insights and leading the change by driving forward-looking business motions. It means thinking big, not just focusing on the details and being done with that, but finding clues in the details about how to drive a great business. Seeing a detour where some might see a change in direction, or conversely. It's not just about being a contrarian, it's about bringing insights to the table that bring real value and impact the direction of the business. Being a strategic CFO has earned me leadership roles and enables me to feel like I am fulfilling my potential. It gives me a great sense of satisfaction in what I am contributing to my team. How does a CFO influence strategy? Why is it important to be a strategic CFO in one’s organization? DC: That's a great question. A CFO and a finance team are responsible for empowering strategic decisions through our stewardship of the management operating process. We are directly responsible for helping the business build a great plan and for measuring and evaluating performance against that plan which will ultimately determine what the next plan will look like.  How well we fulfill this function will have a direct impact on how well our organizations perform against this plan and in what direction this plan or the next plan will take us. The more data we bring into our plans, the more people we bring into our planning processes and the better and more timely insights we bring back to our teams through performance measurements and evaluation, the better we will do as a team. We, as finance leaders, become more important to our teams by behaving in a strategic manner. For Vena Nation week this year, you are going to be talking to us about The Evolution of the Strategic CFO. Without giving too much away, can you talk to us about what your session will cover? DC: I believe that every finance leader—CFOs and those who aspire to become CFOs—have the ability to be strategic finance leaders if they are not already.  I believe that to be the most that we can be, we should continually think and act like strategic CFOs. I want to deliver a little bit of inspiration and remind us about why this is so important and how we can enable our organizations to be more successful and to achieve truly great things by approaching our roles in a strategic manner. And I will talk about all of this in the context of my principles of the Agile CFO, which frame what being a strategic CFO means to me. Plan To Grow Watch Darrell's Talk On Demand Missed Darrell's talk during Vena Nation week? Watch his keynote The Evolution of the Strategic CFO on Plan To Grow.

Remember traffic, packed subway commutes to the office and tight deadlines that had you working late enough times to know the night cleaning staff by name? With office shutdowns for a year and counting now, it seems office life as we once knew it is already long gone and may likely never return to its pre-pandemic pace. But while the global pandemic changed everything in 2020 and may have even signalled the end of the rat race, it seems it also triggered a different kind of burnout for finance and operations professionals and it’s happening because of working from home. A recent article in The Globe and Mail revealed that the pandemic is causing breakdowns, burnouts and emotional exhaustion and that it’s white collar workers, in particular, who are feeling it most. The article said, “Nearly a year into physical separation from colleagues, bosses and clients—sometimes coupled with kids trapped at home—white collar professionals are cracking. Often, top performers who tend to push through the pain are those who are struggling the most.” And surprisingly, it’s those top performers who are also considering leaving their jobs altogether. The article quoted findings from a recent Morneau Shepell survey that said 40% of managers in finance and professional services have considered leaving their jobs since the pandemic started.   This might be unexpected, as the article suggests, given that it was white collar workers who were expected to be doing the best throughout the pandemic since their jobs were protected from the economic downturn of the past year. Many of them in industries such as finance, tech, law and accounting also had the flexibility to work from their homes or vacation properties. Yet for many white collar professionals, the struggle is real and as the article suggests, “there isn’t an obvious reason why they are feeling this way now.” Factors Contributing to Burnout Another study suggested that certain job functions, such as finance and accounting (66.7%) and business strategy/operations (64.1%), were more prone to burnout during the pandemic than others. The lack of separation between work and home life, unmanageable workloads, lack of support from management and lack of control over work were some of the factors contributing to the increase in burnout among these working professionals. This Forbes article on how to deal with COVID-19 burnout at work highlighted findings from a July MetLife report on the mental health of the U.S. workforce. The report revealed that 64% of employees claimed feeling the symptoms of burnout as defined by the World Health Organization. These symptoms of burnout can include feeling: Emotionally and/or physically drained Mentally checked out at work Excessive pressure to succeed  The need to hide personal concerns while at work But sometimes it can be difficult to identify exactly what stress looks like and how it feels. The Centers for Disease Control and Prevention published this article on how to cope with job stress and build resilience during the COVID-19 pandemic and identified the following as symptoms of stress:  Feeling irritation, anger or in denial Feeling uncertain, nervous or anxious Lacking motivation Feeling tired, overwhelmed or burned out Feeling sad or depressed Having trouble sleeping Having trouble concentrating The article also outlined the following common work-related factors that can add to stress during this pandemic: Concern about the risk of being exposed to the virus at work Taking care of personal and family needs while working Managing a different workload Lack of access to the tools and equipment needed to perform your job Feelings that you are not contributing enough to work or guilt about not being on the frontline Uncertainty about the future of your workplace and/or employment Learning new communication tools and dealing with technical difficulties Adapting to a different workspace and/or work schedule Everyone reacts to stress differently. And it’s how you cope with stress and emotions that not only affects your well-being, but also the well-being of those around you—at home and in the workplace. By taking the necessary steps to manage your workplace stress, building your resilience and knowing when and where you need to go if you need help are key to coping with job stress during these challenging times. Tips To Manage WFH-Related Stress 1. Acknowledge the Problem Tracey Ferstler, an expert quoted in the Forbes article recommended this as the first step in recognizing and managing the harmful effects of burnout because as she said, “If not, you can end up in a full-blown mental health crisis.” In fact, many often underestimate the severity of their struggles with burnout. But if you are concerned about your mental health and whether the symptoms you are experiencing are mild or potentially an indicator of a more serious condition, taking an online mental health screen like this one can help you determine if you need help. 2. Communicate With Your Managers and Teams Be open with your managers and coworkers about how the pandemic is affecting your work. Once you can identify some of the reasons causing stress, you can work together to find solutions. For example, don’t be afraid to ask for flexibility. A flexible schedule can help you balance your work and life responsibilities. Having open discussions and asking for help can also point you in the direction of where you can access the mental health resources available in your workplace. Some companies may even be offering additional mental health benefits that weren’t provided before the pandemic. 3. Use Tools That Can Help You and Your Teams Streamline Finance-Led Processes During these times of change, keeping things under control at work and at home can sometimes feel like an impossible feat. That’s where modern technologies and tools can help. Designed to improve core finance and business processes, reduce the likelihood of error, create a more agile finance function and enable team collaboration—no matter where they are—these tools can help automate manual tasks, increase cross-departmental transparency, reduce stress and free up your time to focus on more important matters, whether that’s closing your month-end faster or taking a much needed break throughout the day.   Are Your FinOps Teams Feeling Burnout? Learn how to optimize OpEx budgeting for a hybrid or fully-remote work environment and save your team time. 4. Maintain a Healthy Work-Life Balance Just because you’re home 24-7 these days doesn’t mean you have to be available to work around the clock too. Work demands and stress can easily interfere with your home life so it’s important to establish work-life boundaries. If you can, set up a dedicated work space in your home. It’s also important to develop a consistent routine. This involves setting up a regular time to start and end your work day. Turn off any work-related notifications so you won’t be tempted to check work emails. Take breaks from work to stretch, exercise or go for a walk so you can get a change of scenery. It’s also easy to work through your lunch when you’re at home so make an effort to not schedule any meetings around your lunch time. Looking to decrease stress throughout the day? Breathing exercises and practicing mindfulness can go a long way in helping you manage stress. Working Together While Staying Apart Remote work has become a necessity for many office-based companies throughout this pandemic. As finance and operations professionals continue to navigate new ways of working, it’s important to regularly check in on your colleagues, teammates and others to see how they’re doing. Chances are, you’re not alone in feeling anxious, overwhelmed and stressed out about work, home life and everything else that goes along with living through a pandemic. Learn how to optimize your processes to save time as you WFH. 3 Ways Finance Teams Can Excel in a Remote Work Environment.    

On an evening in November 2010 when Rishi Grover sat down at his local watering hole, he was just looking to unwind a little after a hectic couple of months.  He’d just moved back to Toronto, the pressure at work was mounting and his company, Clarity Systems, had recently been acquired by IBM. Clarity was an FP&A software tool and Rishi was an up-and-coming solutions consultant, which means he spent long days running demos and getting finance leaders excited about the product.  But even as he sipped his cocktail and relaxed into his chair, Rishi couldn’t help thinking about a challenge even a merger with IBM wouldn’t fix. No matter how hard he worked or how tailored he was with each demo, there was one major objection he always seemed to run into—and that was his clients’ reluctance to give up their Excel spreadsheets. “I’d spent a lot of time learning how businesses really used Excel. The pain points with manual processes and data consolidation were common denominators,” says Rishi. “Clarity was your traditional ‘replace Excel’ kind of finance product, but the implementations were long and users had to learn a whole new language. We found that even after our customers rolled out Clarity, they were still doing a lot of their budgeting and planning work in Excel. That made it a bit harder to convince people to adopt the software and to sell existing clients on using Clarity for other spreadsheet-heavy tasks.”  George Papayiannis—a childhood pal of Rishi’s who also worked at IBM as a software developer—had heard his friend lament over this on plenty of occasions already. So when he joined Rishi at the bar that night to catch up and swap some war stories, they started thinking of ways they could just solve this problem themselves.   “Customers wanted Clarity to act more like a spreadsheet, but there was no escaping the fact that Clarity just wasn’t a spreadsheet,” says George, who’s always been an entrepreneur at heart. “So we said, ‘Why don’t we build a product that leverages native Excel, but gives you all the enterprise controls and functionality you could ever want?’” The two friends mulled it over, curious how their idea would evolve. Rishi knew there was a market for this and George was confident he could build it, so both men quit their jobs to pursue the idea full time. They didn’t have a name for their concept yet and they hadn’t written a single line of code—but Rishi and George knew they were sitting on something special. “We started doing some cold calls and described the idea to see if there was interest,” says Rishi. “When a VP of Finance picked up and said she’d never get rid of her spreadsheets, that’s when it really hit me that we could actually make this thing real. ” Spring - Fall 2011: Vena Comes To Life  Rishi and George incorporated Vena Solutions Limited and officially launched the business in April 2011. They chose the name Vena, which is the Latin word for vein, to signify the interconnectedness and streamlined data flow the software delivers. “We liked the comparison between the flow of data in business and the flow of blood in humans. Both are so critical, but they’re things we often take for granted,” says George. “The name Vena stood out for us because it felt warm, but also assertive. Simple, but with a greater meaning. And when we tied it back to Excel with the green logo and branding, it became really clear to us that this was a powerful name for our company.” Meanwhile, back at the IBM office, sales VP Don Mal could tell something interesting was going on. It didn’t quite make sense to him to hear that Rishi—his most promising Clarity solutions consultant by far—had left the firm out of nowhere without telling him his plans for the future.  “Rishi was a very smart up-and-comer. His time as a solutions consultant had shown me just how capable he was with product and technology,” says Don. “So when he told me that he was leaving, I knew he was going to do something big. I told him, ‘I know you’re up to something, Rishi, so call me when you’re ready to talk about it’—and he did.”   George, Rishi and Don met at a coffee shop in North York later that summer. This, it turns out, would be Vena’s first official founder’s meeting. It was there the three men decided to form an equal partnership—Don would lead the sales team and serve as CEO, Rishi would run solutions as Chief Solutions Architect and George would oversee software development as Chief Technology Officer. Like all successful startups, the collaborative dynamic between founders was crucial—because all three individuals brought something totally different to the table. “Don was this legendary sales guy at IBM. We felt it was really important to get him involved as a founder because he knew right away what an amazing pitch this could be,” says Rishi. “George and I had never actually closed any software deals ourselves, so Don’s influence was huge for us there. And as George was doing the coding, I was working on the pitch, the demo, the PowerPoint slides and the website. If it weren’t for all three of us and the unique roles we played, it would’ve been a lot harder for us to close those early opportunities.” Winter 2011 - Summer 2014: Finding Success in the Market and Redefining the Product In December 2011, following a summer without any sales, Don and Rishi travelled to Boston to meet with First Wind Energy. This was Vena’s first close meeting and our founders had run a flawless deal cycle—First Wind’s finance team loved the software, they’d agreed on a fair price and they were excited about the white-glove service they’d get from such a young company.  Stakeholders from both camps were sitting in a boardroom when First Wind’s Chief Information Officer walked through the door. After reviewing the terms of the contract without breaking his poker face at all, he turned to Don and Rishi and said, coolly, “So how many customers do you guys have?” “I looked him right in the eye and told him, “You’re going to be one of our first 20 customers,’” recalls Don. “I think Rishi was sweating a bit, but it all worked out in the end. We’d finally signed our first client—and that’s when things really started to take off for us.” Vena expanded rapidly over the next couple of years as the deals started rolling in and the team got bigger and better. The company moved its office to Islington and Bloor in Toronto after raising $3 million, including an angel investment from Klass Capital. The sales team continued to smash pretty much every target they had, signing some major clients in the process including Nando’s, McDonald’s Canada, Wells Fargo and Kobo. But the most significant early milestone came in June 2014 when George’s Product and Technology team transformed Vena into a cloud-based SaaS solution. The product had previously worked as a strictly on-premise software—and the shift over to cloud laid the groundwork for the next decade of innovation.  “Competitors in our market were moving into the cloud space and there was this huge demand for cloud products in the SaaS industry as a whole,” says George. “Making that transition was a challenging moment for the company because we basically had to rebuild the entire software from scratch. But once we made that decision, everyone at the company was aligned. It’s actually quite remarkable to reflect on how we managed that as a leadership team.” Fall 2014 - Winter 2019: Building a Winning Culture With a Measured Approach to Expansion By the time September 2017 rolled around, Vena had moved once again to its current global headquarters in Toronto’s Liberty Village. The three years leading up to that had produced plenty of exciting growth moments, including: A $30 million Series A funding round led by Centana Growth Partners in July 2016.   Significant investments in headcount for the Professional Services and Customer Success functions. This would help ensure Vena’s growing customer base was well taken care of.   Major C-suite appointments such as Darrell Cox (Chief Financial Officer), Debbie Lillitos (Chief Customer Officer) and Tracey Mikita (Chief People Person).   Vena’s first-ever user conference, VenaNOLA, in May 2017. Hundreds of customers and prospects gathered in New Orleans for the occasion. When Rishi had any free time in between meetings at the new office—a gorgeous, open-concept space within the walls of a refurbished bread factory—he would often take a few minutes to walk around and just take it all in. The buzz of the office, the clattering of keyboards, the excitement of winning new business—there were moments when even Rishi couldn’t believe how far Vena had come. “They might not seem like much, but those little ‘micro-moments’ really stood out for me,” he says. “We always tried to maintain a vibrant, collaborative culture, even as we hired more people and started to evolve into a scale up. We always wanted to ensure our people felt like they were part of our success—so when I walked around the office and saw hundreds of people building their careers here, it really helped me reflect and deeply appreciate that mission.”  Unsurprisingly, our founders weren’t the only ones marvelled by Vena’s trajectory. The firm had caught the attention of JMI Equity, a massive capital investment company and partner to the world’s biggest SaaS brands (including Adaptive Insights, who are Vena’s biggest competitor.) JMI injected Vena with $115 million in January 2019—ultimately laying the foundation for yet another aggressive expansion period. “Every round of funding was always so validating for me,” says George. “It reinforced the reality that we’re building great technology, hiring the right people and really making a difference for our customers in the markets we serve.” Spring 2019 - Summer 2021: Maximizing Scalability Through Product-Led Growth Product-led growth is a go-to-market methodology that relies on SaaS companies using their product to attract and retain customers. Vena accelerated this strategy in the summer of 2019 when Hunter Madeley stepped in to replace Don as Vena’s CEO. “It’s important to never lose sight of the trust customers place in us as we continue to innovate our offerings and prepare for the next phase of growth,” says Hunter, who joined Vena after a decade of leadership scaling the revenue engines at Salesforce and Hubspot. “We have to keep our promise to serve as strategic partners and to keep inspiring our audience with powerful business planning solutions.”  The founders and the rest of the leadership team were quick to rally behind Hunter as everyone started thinking about how to make Vena more accessible to the masses. The firm was serving hundreds of customers, but it was time to scale up to the thousands. The first two years of that journey included a lot of important milestones, such as: Bringing on Allison Munro (Chief Marketing Officer), Tina Golbourne (Chief Operating Officer) and Peter Gilfillan (Chief Sales Officer) to refine the revenue engine.    Replacing in-person conferences with Vena Nation week in May 2020. (After shifting plans quickly in the wake of the global pandemic, Vena hosted a virtual conference experience for the entire finance and operations community.)   The launch of Plan To Grow™, an online learning platform for business planning professionals.    Releasing the first product-led growth initiative—the Vena Preview—in November 2020.   Developing and strategically advertising Pre-Configured Solutions for industries (Vena for SaaS, Vena for Banks and Credit Unions, Vena for Professional Sports Teams, etc.)   “We’re still early on in our Pre-Configured Solutions strategy, but it’s been really awesome to see all these product innovations start coming to life,” says Rishi. “The fact that we designed Vena to work like a platform right from the start has made it easier to listen to the market and solve for a bunch of unique use cases.” For George’s Product and Technology team, the drive to keep on innovating is relentless. But Vena’s original value proposition will always be their guiding light.  “Companies will always have to pivot at times and there will always be challenges associated with that,” says George. “Vena is in a good place, though, because the fundamental value we deliver—using the tools you know and love to solve your business’ problems—is just as relevant today as it was when we first started.”    Planning to Grow for the Next 10 Years and Beyond In May 2021, after a decade of savvy leadership, George announced his decision to step down as Vena’s CTO. It was a bittersweet moment for sure—especially for Rishi and the rest of the leadership team—but it marked yet another milestone in the company’s remarkable history. Vena was finally ready to emerge as a business planning juggernaut with a world-class product, brand and culture that transcends the generations.  “The timing has never been better to work through a transition like this,” says George, who now plans to get back to his roots as an entrepreneur. “The company is in the best position it's ever been. We continue to win and delight customers and are ready to scale into this next phase of growth. We have something incredibly special at Vena. Culturally, as a group, as a brand, we have the opportunity to build something that could outlive all of us.” The next few years will see Vena double down on its current priorities—which means more product-led growth projects, enhancements for Microsoft 365 and scaling to support thousands of customers around the world. George will continue to help Vena grow as a strategic advisor, while Rishi is primed and ready to help Vena win for the next decade and beyond. Today, as both men look back on everything they’ve accomplished together, they can’t help but smile with an incredible sense of pride. It’s been a long, winding journey since that life-changing night at the bar—and the last 10 years have proven there’s a whole lot more to come. “It really gets me excited to think about where we’re going,” says Rishi. “And the culture we’ve been able to build here is definitely what I’m most proud of. It’s the people behind the product who have made sure Vena is built to last—and I’m excited to keep it all going with our awesome customers, partners and support teams.” Ready to start your own growth journey? Find out for yourself what a decade of product innovation looks like. 

Prioritizing tasks, working efficiently, setting routines, being fully present at work and at home. Is it possible to juggle a career in finance and motherhood, get enough sleep and still find time for your relationships and yourself? We recently sat down with an inspiring finance leader, business owner and keynote speaker at this year’s Vena Nation week—Kendra James-Anderson—who's doing it all in what can feel like an often challenging, yet very fulfilling journey. Kendra is the owner of The Finance Femme, a virtual CFO and accounting firm that supports women-owned business. She describes herself as being a business finance nerd and having an ISTJ and Enneagram Type Three personality. She’s also a wife to her partner Ashlee and a mom to their eight-month old son, Carter. “I wish I had more hobbies, but with a thriving business and an active baby boy, my days are pretty much accounted for,” she says. Whenever she can, she likes to get away to a beach or mountains and get grounded outdoors. Read on to discover what inspired Kendra to start her own business, what a typical day looks like in her life and what she plans to talk about in her Vena Nation keynote talk.  What is being a virtual CFO really like? Where does your story begin? Kendra James-Anderson: As a virtual CFO, I support several businesses as their Chief Financial Officer remotely. So instead of our clients having a full-time, “in-house” CFO they are leveraging my firm for their accounting and strategic support. This means our clients get in-depth accounting and finance support for a fraction of the cost of a full-time CFO. Being a virtual CFO is challenging and rewarding at the same time. Much like an in-house CFO, it is our responsibility to ensure that our clients and their teams are focused and aware of the financial health of their business in the short and long term. Maintaining or improving the financial health of a business is a team effort, not just the responsibility of the CFO. But the CFO needs to ensure that the right data and analysis is in front of the right people so that proper decisions can be made. This requires strong analytical skills, but also strong communication and even persuasion skills. Personally, I believe communication and presentation skills need to be even stronger when you’re virtual since you don’t have the benefit of being physically in office with someone frequently where you can build relationships. I started in business finance in my corporate career. After graduating from Clemson University with a Bachelor in Corporate Finance, I climbed the corporate ladder directly supporting CFOs of major companies such as GE. This gave me front row experience to the CFO’s hard and soft skills. That experience was instrumental in the success of my firm today. I support my clients with the same technical skills I learned directly from a CFO of a Fortune 50 company. What inspired you to start your own business? K J-A: While I was working in the corporate world, I had colleagues and friends starting businesses. They were generating great income, but some were struggling because they didn’t know how to properly manage their money. Others had investor opportunities, but didn’t have their financials together. I realized that these businesses needed the support of a CFO. They not only needed the accounting support, they also needed the strategic layer that only a CFO can provide. Who are your role models? K J-A: My #1 role model is my dad. He’s an amazing man on so many levels. As a businessman, he worked at Toyota for over 30 years and was one of the first black presidents in the company. As a human, he’s one of the most thoughtful and intelligent people I know. Describe a typical day in your life. K J-A: My day wouldn’t be complete without at least one meeting. I usually have a client meeting where we’re discussing anything from their prior month’s financial and KPI results to reviewing data on industry changes and trends. Most of my client meetings center around data and strategy, while most of my team meetings center around internal growth. I feel like we are always hiring since our firm has been growing so much. How do you manage work-life balance? K J-A: With an infant, I would not be able to work without support at home. My wife and I tried to manage, but it was impossible so we hired a nanny and that was a game changer. Additionally, I do not hesitate to hire in the firm. I created The Finance Femme to make business enjoyable for our clients so they can do the parts they love and are passionate about while we handle all of the back office and strategy. And just like I want our clients to love their business, I want my team to love supporting them. So I strongly promote work-life balance (or harmony as we call it) for my team and this includes work perks such as unlimited PTO. What time management tips or advice do you have for working moms? K J-A: Hire help. Period. This can be a nanny (part time or full time), a maid service, a meal service, laundry, whatever you need. But don’t think that you should do it all even if you can. My dad tells me, “You don't get brownie points for doing everything.” Instead you get burnt out. So outsource and hire help in areas that you don’t want—or can’t find time—to do. What are your top 5 tools for managing remote teams and finance pros? 1. A project management tool—we use Basecamp. 2. A communication tool—we actually use Basecamp for that too. 3. A calendar scheduling tool—we use Acuity. 4. A sharing hub—we use Google Drive. 5. A data analysis tool—a Complete Planning platform such as Vena. How do you motivate your teams when things get challenging? K J-A: Things often get challenging when you’re in the weeds.  So sometimes it’s a good idea to back out of the details for a second and focus on the bigger picture. Remember what the end goal is. It also may be a good idea to step away from the work for a day or two and come back to it with fresh eyes and fresh energy. Tell us about your toughest day as a virtual CFO. What happened? How did you overcome it? K J-A: My toughest days came when I used to have several back-to-back client meetings—like eight hours of straight meetings for a few days in a row. I used to do about 25 meetings in a four-day period. It was right after month end and I had several meetings to discuss results and update strategies. While I love talking strategy, the body and brain needs time to rest. I quickly realized the importance of blocking blank space on my calendar to allow for breaks—and lunch—and being intentional with how I plan my days and weeks. I call this “Calendar Control” and I even recorded a whole episode about this on my podcast. Without giving too much away, what will you be covering in your Vena Nation week keynote talk? K J-A: I’m sharing tips on how to be a modern day CFO. The finance and accounting industry has evolved a lot over recent years and even more so now because of COVID-19 and remote work. As businesses are becoming more modern in how they think and work, it’s important that the C-Suite follows suit. I am very excited to share this information at Vena Nation week and look forward to the dialogue that I’ll be having with industry professionals afterwards.  Read 10 reasons why you should attend Vena Nation week in this blog. Missed Kendra's talk at Vena Nation Week? Watch Life and Business Hacks With Finance Femme on demand.  

Remember the days when we had water cooler talks? Or went for a coffee run with a colleague? It’s hard to imagine creating those same kinds of connections through Zoom or MS Teams. Well, it’s not hard to imagine, it’s just plain old hard to do. So how can we continue to build meaningful connections with our colleagues and inspire creativity as we continue to work digitally? For Vena Nation week this year, we had the opportunity to explore these questions with Rainn Wilson. And, oh yes, you read that right. It’s the Rainn Wilson. Rainn is best known for his role as Dwight Schrute in the NBC sitcom, The Office. He is also one of the co-founders of the digital entertainment company SoulPancake. Rainn sat down with Vena CMO Allison Munro and CPO Tracey Mikita to walk them through how creativity and self-expression create a more meaningful and collaborative work model. He also shared his advice for fostering creativity and connecting socially in a virtual environment (which is the norm nowadays). Here’s a sneak peak into Rainn’s Vena Nation week talk, The New World of Work with Rainn Wilson. How can we be expressive virtually? According to Rainn, the best way to express ourselves in a virtual world is by showing our humanness. “People are connected and listening so you have to assume that’s happening. I would just say that the number one thing I’ve seen on Zoom meetings and production meetings is a certain self-consciousness. But the more human you are, the more relatable you become,” he explains. As we continue with virtual connections for our work, mistakes and slip ups will often happen. Perhaps we forgot to unmute ourselves on a conference call or our PowerPoint crashes— whatever the case may be, it’s important to let your personality shine through. “Letting your humanity, vulnerability and your eccentricities show will really draw people in,” says Rainn. The best way to connect with others and to be expressive in a continued virtual environment is by being yourself. We all have stories to tell and we are all unique human beings so sharing that with our colleagues is important to form positive connections. How do we bring our authentic selves to work? “For a large part of my life I felt very disintegrated,” says Rainn, “I lived my life in these different compartments. I had my work life, my faith life, my social life, hobbies, family, friends and stuff that I did for myself in all of these different compartments.” Part of Rainn’s long-term goal has been to integrate all of these aspects of his life and reinforcing how he can be of service throughout all of these aspects. He says that as he began to integrate his beliefs into his work and integrate his work into service, the better he felt and the more authentic he became. “Authenticity comes in connection and in service to others. I would equate authenticity with integrity and integration,” said Rainn. How important is laughter to the human experience and building connections? “We need to laugh,” says Rainn, “humour helps us survive.” According to Rainn, humour allows for a deeper human connection. Humour invites vulnerability and relatable experiences between people. This is so important especially when we all continue to work together virtually. Allowing ourselves to be vulnerable and to share relatable experiences builds trust, which is the foundation for any healthy team environment.    Missed Vena Nation week? Join us on Plan To Grow! If you missed out on Vena Nation week this year, be sure to check out our talks on Plan To Grow.

Looking for inspiration to navigate your business through a changing world? Or maybe you’re a finance or operations professional seeking to motivate yourself or upgrade your skills to the next level. Well, this year’s Vena Nation week keynote speakers, industry experts and thought leaders have something unique to share with each and every one of you. Our world-class lineup of speakers were carefully selected with you in mind. They’re bringing their industry expertise, best practices, unique perspectives and resilience stories to share so you can learn, ask questions and confidently power your plan to grow. Get all the inspiration you need—right at your desk and in the comfort of your home. Starting June 14, be a part of Vena Nation week to learn something new from every one of our featured speakers. Here’s a glimpse of who’ll be eagerly waiting to speak to you. Rainn Wilson Award Winning Actor, Comedian, and New York Times Best-Selling Author Keynote Title: The New World of Work With Rainn Wilson Date: Wednesday, June 16, 2021 at 10:30 AM ET For nearly a decade, Rainn Wilson endeared himself to millions on the hit NBC sitcom, The Office, earning three Emmy nominations for his portrayal of fan favorite Dwight Schrute, an eccentric paper salesman with big dreams of being #2. As a speaker, Rainn channels the offbeat brilliance behind his on-screen characterizations, showing audiences that creativity isn’t just for artists. It’s for everyone. With notable roles on both the silver and small screen—think Juno, Star Trek: Discovery, Six Feet Under—Rainn Wilson is also set to star in Amazon’s buzzed-about revival of BBC4’s cult classic, Utopia. But acting is just a part of this versatile artist’s creative output: also an entrepreneur, Rainn and two of his friends created the digital entertainment company SoulPancake. Taking a different approach in a web full of negative clickbait, SoulPancake’s slogan—“We make stuff that matters”—really resonates. It’s a positive, uplifting space where people from all walks of life question what it means to be human: a place to connect with the spiritual and creative journey we’re all on. Today, SoulPancake boasts over four million cross-platform fans, spawned the eponymous New York Times bestselling book and presents vibrant live events: putting out timely, topical content with a philosophical twist, no matter the channel.  In his hilarious, insightful talks full of anecdotes and warmth, Rainn touches on subjects he knows well—like creativity, connection, and of course, office culture. How do you inspire employees with different talents and ambitions? What will stoke their creativity? What will suppress it? Rainn proves an amiable guide through the corporate struggles, teamwork challenges, human triumphs and the very real “personalities” that inhabit your world. Relatable and illuminating, he finds universal lessons in the specifics of his fascinating (and sometimes fictional) life. Also an author, Rainn's memoir, The Bassoon King: Art, Idiocy and Other Sordid Tales from the Band Room, details his interesting upbringing, years as a band and drama geek, his time as a struggling stage actor in New York, to his eventual rise to The Office fame—and the spiritual reflection and reconnection that came with it. Called “an unsurprisingly funny and surprisingly poignant entry in the cavalcade of celebrity memoirs" by BookPage, Rainn’s writing perfectly captures his endearing quirks and oddball humor. Rainn and his wife, writer Holiday Reinhorn, also founded LIDÈ, an educational initiative that uses the arts and academic support to build resiliency and empower at-risk adolescent girls in rural Haiti. In his Vena Nation keynote, Rainn will be discussing how creativity and self-expression create a more meaningful and collaborative hybrid work model. Mark Donovan President of the Kansas City Chiefs Keynote Title: How To Build Winning Teams With the Kansas City Chiefs Date: Friday, June 18, 2021 at 10:30 AM ET With five straight division titles, back-to-back AFC championships and a huge comeback victory in Super Bowl LIV, the Kansas City Chiefs are one of the most dominant teams in the NFL. But Chiefs’ President Mark Donovan knows that helping the organization succeed is about more than just winning football games.  Entering his 22nd season in the National Football League and his 12th season in Kansas City in 2020, Mark Donovan was named the fifth president in Chiefs history in January 2011 after serving two years as the club's Chief Operating Officer. As President, Donovan is responsible for all aspects of the club's business operations and reports directly to Chiefs’ Chairman and CEO Clark Hunt. Catch Mark at his fireside chat at Vena Nation week where he’ll be sharing what he’s learned about finding success on and off the field and how it all starts with building a winning culture organization wide.    Click here to read how faster reporting in Vena helps the Kansas City Chiefs run a more profitable franchise. Darrell Cox Vena’s Chief Financial Officer Keynote Title: The Evolution of the Strategic CFO Date: Tuesday, June 15, 2021 at 10:30 AM ET With more than 15 years of senior leadership experience in finance and business development and knowing firsthand that storytelling is a crucial skill for high-performing CFOs, Darrell Cox has witnessed the evolution of the CFO’s role into chief data storyteller. Prior to Vena, Darrell assembled, directed and managed knowledgeable, dynamic finance teams for Fortune 500 companies such as Virgin Mobile and Rogers Communication. Darrell joined Vena in 2014 at the very early stages of its growth journey. As Vena’s chief finance storyteller, he designs the forward-looking business strategies and long-range financial plans that sustain Vena’s growth.  When it comes to CFO thought leadership, Darrell is one of the finance world’s ardent voices and is frequently invited to share his views at industry events and on podcasts. He has also authored numerous articles on the agile CFO. In his Vena Nation week keynote, he’ll be discussing how the strategic office of finance is evolving to connect the dots across the business to power growth while mitigating risk in an ever-changing world. Kendra James-Anderson Virtual CFO and Business Owner  Keynote Title: Life and Business Hacks With Finance Femme Date: Wednesday, June 16, 2021 at 4:00 PM ET Could your business use help organizing your finances, gaining clarity and increasing your profits? If so, Kendra James-Anderson is your “right hand”. Together with a team of problem solvers at thefinancefemme.com, a premier financial consulting firm Kendra founded and runs, she helps busy and successful business women take their businesses to the next level. Kendra is an experienced financial planning analysis manager with a demonstrated history of working in multiple industries. She enjoys using her 15+ years of corporate experience, extensive entrepreneurial knowledge and business finance and strategy skills to help small and startup businesses build structure and financial strategies to help them flourish. As a busy mom and business owner herself, she knows a thing or two about how to achieve work-life balance. In her Vena Nation keynote, she’ll be sharing business tips—and the occasional life hack—to help you grow your business and find more time to live life. Jeanne Lam Chief Business Officer (Platform) Wattpad Keynote Title: A New Era of Storytelling With Wattpad Date: Thursday, June 17, 2021 at 4:00 PM ET Jeanne Lam is all about scaling and accelerating high-growth consumer and platform businesses. She loves working in industries that are pioneering a radically different business or technology and growing people and organizations to do what’s never been done  before. With more than 17 years experience across different functions, Jeanne leads tech companies through strategic growth and transition. Currently the Chief Business Officer of Wattpad, the world’s leading storytelling platform used by over 90 million people around the world each month, she is responsible for the global team and strategy that drives user and revenue growth.  Prior to Wattpad, Jeanne led growth and user acquisition at Shapeways, the world’s largest 3D printing service. She also worked at Yahoo as Director of Platform Strategy and at GoPago as Head of Marketing & Business Intelligence. Before her startup career, she spent three years as a management consultant at Accenture. Passionate about helping young professionals find fulfillment in their careers, she’s looking forward to sharing In her Vena Nation keynote address how Wattpad is elevating the voices of authors globally and disrupting traditional publishing industries by leveraging technology. Liam Bastick Director of SumProduct Keynote Title: Effective Data Storytelling in Excel Date: Friday, June 18, 2021 at 3:00 PM ET Looking for financial modeling and strategic advice from a global industry expert? Liam Bastick, a fellow chartered accountant and fellow chartered management accountant, has worked in the U.K., Europe and Australia specializing in financial modeling, strategy valuations, M&A and quantitative analysis. He is also an experienced facilitator with the Institute of Chartered Accountants in Australia (ICAA) and a regular presenter with the Certified Practising Accountants (CPA) accounting body. Liam is currently the Director of SumProduct, a business providing financial modeling services, strategic advice, decision analysis support and training to corporate, banking and service delivery clients nationally and internationally. He has also been recognized as a Most Valuable Professional (MVP) in Excel by Microsoft for the past 11 years, one of less than 100 professionals credited with this distinction worldwide. During his Vena Nation keynote, you’ll get to work alongside Liam as he walks you through his tips and tricks on how to master power storytelling in Excel with qualitative and quantitative data. Need more reasons to attend Vena Nation week, read this blog. Register Now To Find Your Strength in Numbers In addition to our keynote sessions, Vena Nation week is also jam-packed with live training sessions, peer-led panel discussions, interactive roundtables and more. Register now so you can connect with other business planning professionals and Vena customers, gain insights from your network of peers, unite with other Excel nerds and earn CPE/CPD credits too.  Click here to see the full conference program.

There’s nothing more certain than uncertainty. Well, besides death and taxes. Uncertainty is a mainstay of the world in which we live. The recent pandemic has both confirmed and compounded this with many countries, economies and businesses struggling to come to terms with the rapidly changing and evolving global crisis. When we look at the effect that the pandemic has had on FP&A, then we can see that the impact has been enormous. Go to drivers have been affected and common data is no longer common. The need to add, change, update and refresh strategy plans, forecasts and budgets is more vital than ever before, with the need for quick adjustments here to stay in the new normal. Businesses have always needed tools to support finance. Paper ledgers evolved to calculators, which evolved to spreadsheets, which evolved to FP&A solutions. But the world as we know it has changed. We’re often finding that history holds as many answers for the future as current thinking. To that end, it’s long been stated that spreadsheets are dead. But with the need for agility is there a better tool? That’s not to say that spreadsheets are right for every process and every use case. Countless businesses have seen issues with spreadsheets and it doesn’t take a huge search of the web to find countless statistics on failed projects, spreadsheet errors and reasons why spreadsheets should be ditched as a modern tool for business. That’s part of the reason we’ve seen FP&A technologies emerge as a solution to remove the chances of data errors. And it’s not a bad thing that technology has evolved in this way. Many businesses now use FP&A solutions designed to be rigid and process orientated to ensure data integrity and regulatory compliance.  Unfortunately, this can mean that modern FP&A tools have lost their ability to be flexible and agile. It’s no surprise, of course, but in an uncertain and volatile world, how do businesses effectively plan, forecast and analyze these rapidly changing and evolving markets with tools that don’t cater to flexibility? Through a third way— a way in between the rigidness of inflexible FP&A tooling and the unbridled spreadsheet. It’s a way in which the spreadsheet is used as the front-end user interface while linking to an application that adds the controls, power and security that’s required. This way isn’t new, it’s why Vena exists. Let’s look at why this third way is viable. By using the Excel interface for the user, it’s simple to add columns, format, change layouts and use other elements that make spreadsheets so popular. Not only does this enable the flexible, agile management that’s required in an uncertain world, it also gives people cognitive comfort. It allows users to do their best work because it’s well recognized that humans will rarely perform at their peak when they’re forced to work within someone else’s constraints rather than their own. At the same time, this third way allows controls to be applied to the data thus enabling the business to retain ownership of what can be modeled or updated. It enables larger data sets to be integrated from multiple systems while also adding powerful functionality for the FP&A process. The outcomes for the business and FP&A function are enormous. To be able to have a controlled environment that enables rapid changes to models, forecasts and plans is a must- have when looking at the new normal way of operating. And it doesn’t stop at finance because if the interface is the spreadsheet, then businesses can use the third way throughout all areas where spreadsheets are currently used—HR, manufacturing, sales—the possibilities are endless. So, the third way is a win-win solution because businesses get the best of both worlds—a controlled environment like Vena that also leverages Excel. In other words, businesses get to have their cake and eat it too. And who doesn’t like cake? Ready to start your own growth journey?