Oakworth Responds to Business Challenges in Real Time With Vena

When Oakworth’s finance team found Vena, they finally had the flexibility they needed to work more quickly and disseminate information to decision-makers securely.

Using Vena, Gus says, “has allowed us to elevate and delegate a lot of work that may be cumbersome for us, but also allows the organizational knowledge to improve because it’s not just sitting with me, our controller or our CFO. It’s tapping into all the leaders and the levels of the organization that can drive us forward.”

Oakworth was able to get up and running with Vena in short order, thanks to Vena’s Support and Expert Managed Services (EMS) team. “I can’t emphasize enough how straightforward and easy it was,” Gus says. 

Not only that, but Gus says that his team has been impressed with how Vena allows them to work within security and compliance standards. “We have found with resounding success–there are security and compliance features that allow us to control who sees what, how they access [data], and how they can retain or try to extract it,” he says.

The results speak for themselves: Gus says using Vena has allowed his team to spend considerably less time generating reports or analysis and put more effort into producing actionable insights.

They were also able to reduce financial reporting errors with Vena’s Ad Hoc reporting tool, which allows the team to build the reports they need in one-fifth of the time. “Ad Hoc reporting is a lifesaver,” Gus says. The tool helped his team identify and correct inaccuracies in their budget assumptions while analyzing yield rates, leading to more accurate forecasts. It also shortened the end-of-month financial reporting process by several days. 

Gus says that the Ad Hoc tool and Vena overall have given his team a boost across several measures.

“Since implementing Vena, we’ve seen measurable improvements in efficiency, accuracy, and strategic decision-making. Time spent on manual reporting has decreased by over 60%, and our ability to respond to business challenges with real-time insights has dramatically improved. I would highly recommend it to any organization looking to enhance their financial processes,” he says.

Since using Vena, Oakworth has also been able to respond to business challenges with more agility. Gus’s team uses real-time insights, particularly features such as stress-testing and scenario modeling, to understand changing interest rates and product recommendations for clients. As market conditions and interest rates have shifted in recent years, Oakworth has been able to become more targeted in how it markets or emphasizes different rate-sensitive products to customers. 

“Vena is a game-changer. The ability to automate reporting, integrate with existing systems, and provide real-time access to financial data has made our finance team more effective than ever,” Gus says. “Now, we’re operating with 50% fewer manual processes, while delivering more accurate and timely reports to stakeholders. It’s truly an invaluable tool for financial planning and analysis.”