Cut month-end reporting prep by 16–30 business hours per month
Reduced forecast updates from 2+ days to under 1 hour
Enabled fast scenario modeling for interest rate fluctuations
The Challenge: Breaking Free from Manual Spreadsheet Constraints
Before Vena, Nicolet Bank relied on linked Excel spreadsheets stored across shared drives to manage budgeting, forecasting and management reporting.
Forecasting relied on a homegrown Excel model understood by only a few people, creating risk, inefficiency, and a lack of transparency. Making updates to assumptions was difficult, reporting lacked consistency, and scenario planning was time-consuming.
“We had a black-box model—good in theory, but not scalable,” says Ben Braun, Director of Financial Planning and Analysis at Nicolet National Bank. “You couldn’t modify it unless you helped build it.”
As the bank grew from $2B to $9B in assets, these issues became urgent to address. Management reporting was limited by slow manual processes, forecasts didn’t accurately depict reality, and HR lacked visibility into how staffing plans aligned with budgets.
“It wasn’t sustainable,” Ben adds. “We needed efficiency, insight, and speed to support continued growth.”
That’s when the team found Vena, which allowed them to replace their legacy Excel models with a centralized platform that retains Excel’s familiar interface while adding structure, automation, and governance.
Streamlined Forecasting and Real-Time Scenario Planning To Support M&A Readiness
Now that Ben and his team have made the switch to Vena, forecast updates that once took multiple days are now completed in under an hour. The team can generate month-end reports instantly using validated templates—no manual linking, and no rework.
The finance team now runs multiple interest rate scenarios with ease, using Fed rate changes as triggers to simulate net interest income impacts. “We can instantly model rate cuts or increases and understand their financial impact,” says Ben. “What used to be manual duplication and assumptions is now a structured, repeatable process.”
Vena’s headcount planning module has also brought new clarity to Nicolet Bank’s workforce planning. Finance, HR, and business leaders now share a single set of assumptions, ensuring hiring plans are reflected accurately in forecasts. As a result, communication across teams has improved significantly, with variance analysis supporting faster, more informed adjustments to headcount plans.
With core reporting and forecasting workflows in place, Nicolet Bank is now using Vena to support regulatory reporting in preparation for future mergers and acquisitions. The team is working to streamline call report preparation—a time-consuming quarterly task for U.S. banks—and integrate external financial reporting into Vena’s workflows.
“Acquisitions have fueled much of our growth, and we know another one is coming,” Ben says. “With Vena, we’re preparing to model pro forma scenarios from day one, so we can quickly assess value and integration plans.”
The finance team is also embedding non-financial and liquidity data into Vena for richer reporting and cross-functional insights. As adoption of Vena grows, so does the team’s confidence in the platform as the foundation for scalable, strategic finance operations.
We can instantly model rate cuts or increases and understand their financial impact. What used to be manual duplication and assumptions is now a structured, repeatable process.”
Ben Braun
Director of Financial Planning and Analysis, Nicolet National Bank