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CPM software provider grows customer base, empowering companies to plan for anything amid global economic challenges   Today, Vena announced record revenues and customer wins in its latest fiscal year despite significant economic headwinds.  The company recognized significant year-over-year increases in revenue and customers added through FY 2023 (ending  Jan. 31, 2023) and had record growth in expansion sales as customers leveraged Vena’s corporate performance management (CPM) software to plan for anything, leaving it well-positioned to ride continued business momentum in FY 2024.  “Macroeconomic conditions have placed a new urgency on streamlining financial and operational planning,” said Hunter Madeley, CEO of Vena. “Companies trust Vena’s award-winning Complete Planning platform and Partner network to provide the planning capabilities and business insights required to thrive in any environment.  Vena remains committed to empowering our customers to build agility and resilience into their business planning processes.” Other highlights achieved in Q4 FY 2023 include:  Record subscription revenue and a new customer milestone, crossing the 1,500 threshold. A strategic partnership with Fluence Technologies offering an integrated solution that empowers FP&A, extended planning and financial close management for Vena and Fluence customers and enables a seamless digital transformation of the entire finance function. The expansion of Vena’s Partner network, with the addition of Cyberly Inc., McAlign Consulting Group, Nexcelsior Inc. and Varisource. These Partners add to Vena’s expertise in the Microsoft and Netsuite platforms, enhancing the Vena platform’s capabilities in functions including revenue operations and sales performance management. Ongoing hiring that grew Vena’s team by over 20%, attracting top talent despite a softening in overall technology industry headcount, due in large part to its recognition as a top place to work.  These Q4 milestones capped a strong year for Vena, which earned a collection of industry awards, including recognition as a Major Player in the IDC MarketScape: Worldwide Enterprise Planning, Budgeting and Forecasting Applications 2022 Vendor Assessment and a TrustRadius 2022 Best Software award for Vena Complete Planning. Vena also received high rankings from user-based rating sites TrustRadius (Best Corporate Performance Management, Budgeting and Forecasting and Financial Close software) and G2 (Best Software for Accounting and Finance).  Other highlights in the year include: The announcement of a technology collaboration with Microsoft, including mutual investment in product, solution and platform innovation to empower the strategic office of finance. Strengthened leadership with the addition of Melissa Howatson as Chief Financial Officer,  the appointment of Vena Chief Marketing Officer Allison Munro as Chief Marketing & Ecosystem Officer and the promotion of Le Huong Truong to Senior Vice President, General Counsel and Corporate Secretary, joining Vena’s executive leadership team.  Industry recognition with Vena named an Overall Leader in the 2022 Wisdom of Crowds Enterprise Performance Management (EPM) Market Study conducted by Dresner Advisory Services.  Recognition of Vena’s culture and workplace environment by Waterstone Human Capital on its 2022 list of Canada’s Most Admired Corporate Cultures.  The launch of Vena with Microsoft Power BI Embedded, adding AI-powered advanced data analytics to the Vena platform.  The launch of Vena Marketplace, where finance and operations professionals can access native Vena integrations and connect with Vena Partners that offer services, solutions and technologies that integrate into the Vena platform to automate financial planning processes, drive collaboration and deliver deep insights. Additional recognition for Vena’s culture with its third TrustRadius Tech Cares award, which recognizes tech companies’ support for employees, and several Comparably awards, including recognition of its diversity initiatives and company outlook. About Vena Vena empowers businesses to plan for anything with the only native Excel Complete Planning platform built for Microsoft 365 with Power BI Embedded. Vena streamlines budgeting, forecasting and reporting processes, and provides advanced analytics and modeling capabilities to help business, finance and operations leaders make informed business decisions. With Vena, you can leverage the power of Excel and AI-powered insights in a unified, cloud-based platform that enhances collaboration, scalability and security. Over 1,500 of the world’s leading companies rely on Vena to power their planning. For more information, visit venasolutions.com.   Media Contact Jonathan Paul Senior Director, Content & Communications, Vena  jpaul@venacorp.com 

This March at Vena, we’re celebrating Women’s History Month as we look at the past, present and ongoing achievements of women in technology and beyond. During the month, we’re proud to highlight the work of one of our employee-run resource groups, what we call Vena Resource Groups (VRGs) in our organization. That group is the Network for Women VRG (N4W), founded in 2018 as the company’s first VRG, paving the way for many more.  Vena Resource Groups highlight Vena’s commitment to diversity, equity and inclusion (DEI). “Our DEI strategy and initiatives are focused on creating the space and freedom for our employees to be themselves and to celebrate and value our unique lived experiences,” explains Shada McShannon, Director, People Partners & DEI at Vena. “One of the ways we are able to do this is through creating community across our VRG network. Employees are encouraged to find space for community and connection, discuss their common lived experiences, and are given a platform to join the important conversations happening internally and externally.”  Vena’s Network for Women N4W aims to address the interests, challenges and hurdles women+ experience in the workplace by providing opportunities and support for women+ to achieve success on their own terms. “As an employee, it's important to me that my organization creates a safe space for women+ to connect and feel a sense of community. That’s why I was eager to join Network for Women, first as a committee member and now as a co-chair of the VRG,” says Diane Frysztacki, Network for Women Co-chair and Senior Practice Manager at Vena.  Vena’s Network for Women is focused on: Advocating for a safe and inclusive workplace by providing access and opportunities to women+, with intersectionality in mind, to network, foster leadership skills and share best practices.  Partnering with leadership to promote gender equity. Improving Vena’s ability to attract and retain women+ at all job levels.    Diane explains this is a year-round focus for N4W, not just during Women’s History Month. “Creating a safe and inclusive workplace for women+ means that women's rights are not something we are paying lip service to or are a flavor of the month here at Vena, but something we are dedicated to as part of our culture. Together, we recognize and believe that it’s critical for every Venanite to show up each day as their genuine selves. By doing so, we are acknowledging our sameness and our differences and feel safe speaking from our unique perspectives in a workplace that equally values everyone's opinion,” she says. “Creating a safe and inclusive workplace for women+ means that women's rights are not something we are paying lip service to or are a flavor of the month here at Vena, but something we are dedicated to as part of our culture.”                                                                                 —Diane Frysztacki                                                                       Network for Women Co-chair and                                                                       Senior Practice Manager at Vena  Highlighting Women’s Stories in the Workplace Throughout Women’s History Month, we’ll be hosting a series of events and learning labs for our employees, customers and partners. International Women’s Day We’ll be kicking off events this month by hosting a virtual internal panel event on March 8, International Women’s Day, in line with this year’s theme of “DigitALL: Innovation and Technology for Gender Equality.” During the panel, a few women on our Executive Leadership Team will be sharing their personal experiences and revealing how they've overcome challenges throughout their career journeys. Vena employees can also celebrate International Women’s Day in person at Vena’s Toronto headquarters. N4W is bringing in treats and raffle opportunities for all to enjoy. Women in Finance You can catch our video and blog series on Women in Finance throughout the month on YouTube and on the Vena blog. Christine Harms   The first session, Building a Successful Career in Corporate Finance, will run on March 8 with Christine Harms, Senior Director of Finance at the Arizona Cardinals. Christine will be sharing how she overcame her career hurdles and what inspires her in her industry. She’ll also discuss mentors who helped her reach her current position and why advocacy and mentorship are critical for career growth. Find out what advice Christine was given as she began her career in corporate finance and pick up her tips on leveling up your technical and soft skills. You’ll also get insights into gender gap issues in the industry and learn how to clearly—and successfully—ask for what you want without compromising your career advancement. Melissa Howatson   On March 15, the second session, Harnessing Your Finance Leadership Potential, will run with Melissa Howatson, CFO at Vena. Melissa will be sharing her journey to the CFO role. She’ll speak about the CFO role’s evolution and its extension beyond finance skills. She’ll also discuss the core competencies successful leaders must have and the growing importance of finance in today’s organizations. Hear her advice for future finance leaders on entering the leadership track and how, together, we can empower the next generation of women finance leaders. Muneerah Kanji Meet Muneerah Kanji, Vice President of Finance at Vena, in our third session, Finding Work-Life Balance in the Hybrid Workplace, on March 22. Muneerah will share what’s needed to maintain a successful work-life balance. She’ll also be discussing the differences between successfully working remotely, on-site or in a hybrid environment. Get advice on establishing boundaries and setting time aside for you and your family. And find out which lessons Muneerah wishes she’d learned much earlier in her career. Larysa Melnychuk On March 29, Larysa Melnychuk, Founder and CEO of FP&A Trends Group, will discuss where finance teams are headed in Navigating the Future of Finance. Hear about Larysa’s career’s pivotal moments, how they led her to develop the FP&A Trends Group and how they informed her role as its CEO. Find out how business partnering is evolving and how technology—such as cloud solutions, AI/MLI, and blockchain—are affecting finance operations. Hear Larysa’s predictions on the expansion of finance, how it will affect women in this industry, finance’s “next big thing” and how you can prepare for that future. The Impact of Women Executives  We’re proud of the representation of women on our Executive Leadership Team (ELT) at Vena. Women make up 60% of Vena’s ELT in comparison to an industry average of 24% representation of women in tech C-suites.  Throughout March and beyond, we’ll be highlighting some of Vena’s women ELT members in a series of blog interviews. Be inspired by their career journeys and tune in for their empowering advice for women+ on the rise. Women make up 60% of Vena’s ELT in comparison to an industry average of 24% representation of women in tech C-suites.    Did you know? Vena has won Comparably Awards for Best Company for Women, Best CEO for Women, Best CEO for Diversity, Best Company Culture, Best Company for Diversity and more. For the full list of Comparably awards Vena won in 2022, click here. Click here for Comparably awards Vena won in 2021. Come grow with us! Vena is hiring. We have offices in Toronto, Canada and in London, England. Visit our Careers page for current job openings or follow us on LinkedIn, Instagram, Twitter or Facebook to learn more about life at Vena.

Nucleus highlights Vena’s platform usability, modern Microsoft 365 Integrations and Power BI Embedded experience  Vena announced today that it has been recognized as a leader in the Nucleus Research CPM Value Matrix, marking the tenth straight year Vena has achieved this industry leader recognition. “This year's Nucleus Report revealed that present economic uncertainty and market volatility are leading financial professionals to turn to technology for agile planning and budgeting,” says Hugh Cumming, Chief Technology Officer at Vena. “This recognition validates our ongoing commitment to customers to do just that, giving them the confidence they need to transform the office of finance into a strategic partner to the entire organization. Vena’s mission is to help businesses plan for anything, providing customers with the ability to work the way they think—in a familiar environment and flexible platform—and leveraging advanced AI and ML capabilities to easily gain access to real-time data and insights to support greater strategic decision making and agile planning.” The Nucleus Research CPM Technology Value Matrix evaluates vendors based on greater usability and better functionality of their solutions. Vena positioned highest for greater usability in the leader quadrant. Also mentioned were Vena’s latest updates, including: Open Data API Strategy  Fully Integrated Modern Microsoft 365 Integration Experience Fully Integrated Power BI Embedded Experience Combined With Azure Data Lake Infrastructure Enhanced Data Modeler With Data Model Optimization Isaac Gould, Research Manager, Nucleus Research, says, ”Vena Solutions continues to be a leader in the Value Matrix, for the 10th consecutive year. Differentiated by its high usability marks, Vena is focused on providing further functionality through its Power BI Embedded experience, open data API strategy with ease of use and product flexibility at its solutions core.” Earlier this year, IDC positioned Vena as a Major Player in Enterprise Planning, Budgeting and Forecasting Applications. Vena was also named a Challenger in the Gartner® Magic Quadrant™ for Financial Planning Software.  To access the full Nucleus Research "CPM Technology Value Matrix" Report, click here.  About Nucleus Research  Nucleus Research is a global provider of investigative, case-based technology research and advisory services. The company's ROI-focused research approach provides unique insight into the actual results technology solutions deliver, allowing organizations to cut through marketing hype to understand real operational value and select or renew the best technology solution for their environment. For more information, visit NucleusResearch.com. About Vena Vena is the only native Excel Complete Planning platform built for Microsoft 365 with Power BI Embedded. Vena transforms how business, finance and operations leaders Plan To Grow™ with the Vena Growth Engine, the SaaS platform and methodology that empowers and inspires your plans and guides your growth journey. Over 1,300 of the world’s leading companies power their growth with Vena. For more information, visit venasolutions.com. Media Contact Jonathan Paul Senior Director, Content & Communications, Vena  jpaul@venacorp.com   

This February at Vena, as we celebrate Black History Month, we’re taking a look at what Black History Month means through the eyes of our employees. For some, this month means acknowledging all the people who came ahead of us, recognizing their achievements and paying tribute to the pioneers who paved the way for us today. For others, it’s a time of reflection and unity, to come together to address the challenges we’re still facing in our society. “Black History Month to me is a month of reflection and unity. I use this month to reflect on how far we’ve come, but also to unite and discuss some of the challenges we still face.”                                                                   —Babatunde Akinpelu                                                                       Senior Manager, Application Support at Vena     This month also marks the one-year anniversary of the formation of Melanite, our Black employee-run resource group. The group, which supports Black employees throughout the organization and community, is open to all employees looking to learn, grow and contribute to a diverse, inclusive and supportive work environment. “Melanite is our safe space where we can all come together to normalize Blackness and amplify Black voices, culture and experiences inside and outside of our workplace,” says Siobhan Mondesire, Melanite Co-chair and Vice President of Demand Generation at Vena. What does this safe place feel like for Black employees? It welcomes them to have uncomfortable discussions, promote dialogue, feel supported and build trust throughout the organization. Siobhan explains, “This includes supporting Black employees’ well-being and recognizing their anger, exhaustion and grieving when they are often faced with traumatic stories and images about racial violence in the news. It also means providing them with resources and tools to tackle some of the issues Black employees face in the workplace and addressing them collectively through opportunities for learning and growth. So when it comes to our diversity, equity and inclusion practices, we’re asking what more can we do to continue building a diverse workforce—and more importantly, making it a company-wide effort. ” Strengthening Vena’s Culture Vena employees will connect and learn from one another this month during a roundtable discussion on disarming microaggressions and the role we can all play to become better allies in the workplace.  “In this roundtable, participants across Vena will learn about the practical strategies they can apply when they overhear or witness a microaggression so they can feel empowered to be an upstander.  They’ll also leave the session with a personal commitment and action, ” explains Shada McShannon, Director, People Partners & DEI at Vena. Honoring Black Leaders—Past, Present and Future “When I think of Black History Month, I think of all the people who came ahead of me and paved the way for people not only of my skin color, but people of all skin colors. The people who had no intention of being labeled as exceptional people of history, but were doing what they felt was right or what they felt like should happen in the world … ”                                                                        —Jarran Francis                                                                            Senior Manager, Customer Success at Vena Throughout Black History Month, we’ll be highlighting the achievements of Black leaders throughout time, bringing together Black Vena customers to discuss what it’s like being a Black professional in finance and also telling the stories of Black professionals in tech who are excelling in their careers and shaping history today. For this year’s Obsidi by BPTN Awards, we’re hoping some of Vena’s top talent nominees will be recognized for their achievements in the industry. Creating Our Best Future “What does Black History Month mean to me? It means opportunity. It means visibility.”                                                                           —Olalekan Adebayo,                                                                               Manager, Application Support at Vena   Black History Month is a time to learn, grow and celebrate, but it also inspires us to look toward the future and continue to show up, speak up, team up and lift others up—to make a real difference in our personal and professional lives every day which carries through beyond this month. How will we do that at Vena? Melanite will continue to share resources and tools for Vena employees to use to continue learning and growing inside and outside of work. They’re also keen to look for more ways to bring diverse Black communities together to create intergenerational connections, support and opportunities. Recently, Melanite partnered with BlackMINT, a Canadian non-profit organization focused on inspiring Black youth to pursue careers in the tech sector, to close the financial and software literacy gap for Black students and break down barriers in tech. They hosted free Excel Microsoft training and mentorship workshops for underrepresented youth both virtually and at Vena’s headquarters in the Liberty Village area of Toronto. Did you know? Last year, Vena won Comparably Awards for Best Company Culture, Best Company for Diversity, Best Company for Women, Best CEO and more. For the full list of Comparably awards Vena won in 2021, click here. Come grow with us! Vena is hiring. We have offices in Toronto, Canada and in London, England. Visit our Careers page for current job openings or follow us on LinkedIn, Instagram, Twitter or Facebook to learn more about life at Vena.  

Today, Vena announced that it has been named a Major Player in the IDC MarketScape: Worldwide Enterprise Planning, Budgeting and Forecasting Applications 2022 Vendor Assessment (doc #US48985622, December 2022).  “Vena provides customers the ability to work the way they think, with familiarity, flexibility and deep, actionable insights that transform the office of finance into a strategic partner to the entire organization,” said Hugh Cumming, Chief Technology Officer for Vena. “We believe our recognition as a Major Player in the IDC MarketScape validates our ability to execute at a level on par with industry leaders in enhancing our customers’ ability to support greater decision-making and planning agility, which is a competitive asset during uncertain times.” The IDC MarketScape report is an assessment of enterprise planning, budgeting and forecasting application vendors in 2022. The IDC MarketScape evaluates the breadth of each vendor’s product portfolio and the level of innovation included, geographical presence and the satisfaction and perception of its customers, as well as the vendor’s overall health.  Vena’s position in the IDC MarketScape follows a wave of industry and customer accolades the company received in 2022. Earlier this year, Vena was named a Challenger in the inaugural Gartner Magic Quadrant for financial planning software and was ranked as an Overall Leader in the Dresner Advisory Services 2022 Wisdom of Crowds Enterprise Performance Management (EPM) Market Study.  Vena was recognized as a leader in the G2 Grid Report for Budgeting and Forecasting Winter 2023. Vena also received a 2022 Best Software award by TrustRadius, the community-driven product reviews site.  About IDC MarketScape  IDC MarketScape vendor assessment model is designed to provide an overview of the competitive fitness of ICT (information and communications technology) suppliers in a given market. The research methodology utilizes a rigorous scoring methodology based on both qualitative and quantitative criteria that results in a single graphical illustration of each vendor’s position within a given market. IDC MarketScape provides a clear framework in which the product and service offerings, capabilities and strategies, and current and future market success factors of IT and telecommunications vendors can be meaningfully compared. The framework also provides technology buyers with a 360-degree assessment of the strengths and weaknesses of current and prospective vendors. About Vena Vena is the only native Excel Complete Planning platform built for Microsoft 365 with Power BI Embedded. Vena transforms how business, finance and operations leaders Plan To Grow™ with the Vena Growth Engine, the SaaS platform and methodology that empowers and inspires your plans and guides your growth journey. Over 1,300 of the world’s leading companies power their growth with Vena. For more information, visit venasolutions.com. Media Contact Jonathan Paul Senior Director, Content & Communications, Vena jpaul@venacorp.com  

Recognized for its ability to execute and completeness of vision Today, Vena announced that it has been named a Challenger in the 2022 Gartner® Magic Quadrant™ for Financial Planning Software.    "We are delighted that Vena is positioned as a Challenger in the Magic Quadrant,” said Hugh Cumming, Chief Technology Officer for Vena. “ We believe our native integrations with Microsoft technology enable Vena customers to leverage Microsoft Excel, Power BI and Azure to gain deep insights from their financial and operational data through our advanced AI-driven analytics. We are proud of the Vena team and look forward to continuing to execute against our mission to elevate the strategic office of finance.”         Gartner defines financial planning software as “the key tool that enables organizations to manage their enterprisewide financial planning, forecasting and budgeting processes. Financial planning software allows finance organizations to plan and analyze business financial strategy for the organization across all three financial statements (that is, profit and loss, balance sheet and cash flows). It supports modeling, collaboration, analytics and performance-reporting capabilities, all of which enhance a user’s ability to effectively manage financial performance.” This is the latest recognition for Vena in 2022. Earlier this year, the company was named an Overall Leader in the Dresner Advisory Services 2022 Wisdom of Crowds Enterprise Performance Management (EPM) Market Study. Vena was also recognized as a major player in the 2022 IDC Marketscape Enterprise Planning, Budgeting and Forecasting Applications report and as a leader in the G2 Grid Report for Budgeting and Forecasting Winter 2023. Vena also received a  2022 Best Software award by TrustRadius, the community-driven product reviews site.  Gartner, Magic Quadrant for Financial Planning Software, Regina Crowder, Matthew Mowrey, et al.., 14 December 2022 . Gartner and Magic Quadrant are registered trademarks of Gartner, Inc. and/or its affiliates in the U.S. and internationally and are used herein with permission. All rights reserved. Gartner does not endorse any vendor, product or service depicted in its research publications, and does not advise technology users to select only those vendors with the highest ratings or other designation. Gartner research publications consist of the opinions of Gartner’s research organization and should not be construed as statements of fact. Gartner disclaims all warranties, expressed or implied, with respect to this research, including any warranties of merchantability or fitness for a particular purpose.   About Vena Vena is the only native Excel Complete Planning platform built for Microsoft 365 with Power BI Embedded. Vena transforms how business, finance and operations leaders Plan To Grow™ with the Vena Growth Engine, the SaaS platform and methodology that empowers and inspires your plans and guides your growth journey. Over 1,300 of the world’s leading companies power their growth with Vena. For more information, visit venasolutions.com. Media Contact Jonathan Paul Senior Director, Content & Communications, Vena jpaul@venacorp.com  

Cloud-based platforms combine best-of-breed capabilities with the power and ubiquity of Microsoft Excel to empower FP&A and accounting teams amid dynamic business conditions Today, Vena announced its strategic partnership with Fluence Technologies, the purpose-built financial consolidation, close and reporting software for high-growth businesses, offering an integrated solution empowering FP&A, extended planning (xP&A) and financial close management for Vena and Fluence customers.  Traditional ERP and CPM applications no longer fit the needs of today's modern FP&A and accounting professionals who must work more closely together to guide their organizations through dynamic business conditions. Teams are forced to settle for a "good enough" solution that compromises on capabilities and prompts some users to hack workarounds to get the job done, risking errors and inaccurate results. The consolidation of best-of-breed capabilities from Vena Complete Planning and Fluence into an integrated solution enables a true and seamless digital transformation of the entire finance function—from forecasting and modeling, integrated planning and budgeting to streamlining financial reporting and close management —buoyed by the inherent flexibility and familiarity of a native Excel interface. "Vena and Fluence have worked together since 2019, providing shared customers the ability to reduce time-to-close by as much as 90%," said Vena Chief Marketing & Ecosystem Officer Allison Munro. "This next evolution of our ongoing partnership provides our customers with an integrated solution that effectively services the unique needs of FP&A and accounting functions. Teams are able to leverage our mutual Excel-first approach to drive ease of use, broad adoption and collaboration across the organization to drive business agility, productivity and resilience." "The combined Vena/Fluence offering delivers a highly differentiated solution for financial planning, consolidation and close," added Don Mal, Chairman and Co-founder of Fluence Technologies. "Fluence and Vena have a proven track record of providing joint solutions to clients globally for over three years and I am thrilled to see us further strengthen our relationship." Joint customers across a wide range of industries can use Vena and Fluence to power FP&A, extended planning and financial close processes such as close management, consolidation, account reconciliation, lease accounting, tax provisioning, capital planning, sales and revenue planning, ESG planning and more. "Fluence and Vena have been trusted partners since the first days of Fluence," said David Wood, Chief Revenue Office at Fluence Technologies. "This extension of the Vena/Fluence alliance offers tremendous value for customers and partners and provides the market with the only 'best-of-breed' corporate performance management offering for mid-market organizations." There is increasing demand from accounting teams for the type of efficiencies that Vena users have benefited from for years, including a user-friendly experience rooted in the Excel worksheets they work in daily. Vena and Fluence provide a better experience when used together. For more information about how to leverage the Vena and Fluence platforms, please visit the Vena Marketplace. About Vena Vena is the only native Excel Complete Planning platform built for Microsoft 365 with Power BI Embedded. Vena transforms how business, finance and operations leaders Plan To Grow™ with the Vena Growth Engine, the SaaS platform and methodology that empowers and inspires your plans and guides your growth journey. Over 1,300 of the world's leading companies power their growth with Vena. For more information, visit venasolutions.com. About Fluence Fluence is the only pure-play financial consolidation, close and reporting software for high-growth businesses. Our customers go live in weeks, close their books in days and report intelligence in real-time. We deliver game-changing efficiency gains and trusted, timely numbers to our customers so they get the time, control and confidence they deserve. Fluence is out-of-the-box, no-coding software with a full Excel interface and enterprise-grade capabilities for immediate adoption and quick time to value, all in a truly finance-owned solution. Welcome to Fluence...we close early. Media Contact Jonathan Paul Senior Director, Content & Communications, Vena jpaul@venacorp.com  

In today’s digital age, data is at the center of nearly every organization. Cloud computing has brought incredible benefits for businesses, including increased collaboration, insights and flexibility. It has, however, also brought security risks that can be quite costly.  The average cost of a data breach in 2022 is $4.35 million USD, according to the latest Cost of a Data Breach Report from IBM Security, based on research from Ponemon Institute. In addition to the financial hit, a data breach can result in loss of trust from partners and customers. What’s more, the increased focus on data privacy due to GDPR in Europe and the California Consumer Privacy Act (CCPA), means that security breaches could also result in steep fines or litigation.  The average cost of a data breach in 2022 is $4.35 million USD. Customers and partners often seek assurances that an outside organization can be trusted with their data. For Software as a Service (SaaS) companies, such as Vena, that manage a large volume of diverse data, adherence to System and Organization Control requirements, also referred to as SOC, can help establish a common language of trust.  What Is a SOC Report?  At its core, SOC reports are independent, third-party audit reports that demonstrate how an organization achieves key compliance controls and objectives based on criteria defined by the American Institute of Certified Public Accountants (AICPA). For example, they can help validate, among other things, that a company’s internal security practices meet specific criteria. These practices include both technology and human protocols.  SOC reports are independent, third-party audit reports that demonstrate how an organization achieves key compliance controls and objectives based on criteria defined by the American Institute of Certified Public Accountants (AICPA). SOC 1 Report There are different kinds of SOC audits.  A SOC 1 audit examines and reports on an organization’s control environment that may be relevant to its customers’ internal controls over financial reporting. SOC 2 Report A SOC 2 audit looks at an organization’s control environment as it relates to established trust criteria, including security for a service offering. SOC audits can be further broken into two types: a Type 1 audit reviews the control environment at a single point in time, whereas a Type 2 audit looks at the control environment over a defined period of time, typically from six to 12 months, depending on the needs of the organization and intended users.  Third-Party Validation Since Vena operates in the corporate performance management space and deals with sensitive data, our customers expect us to implement appropriate organizational safeguards designed to protect the financial, operational and other organizational data they bring into our Complete Planning platform. Type 2 SOC reports provide an independent assessment that can help customers assess whether the control environments of vendors are suitably designed and operating effectively for their needs.  When Vena underwent its SOC evaluation, we partnered with a top accounting firm to ensure that our audit was conducted by an experienced and respected third party. We’ve always developed Vena’s network infrastructure and tech stack with security in mind, so the road to issuing our Type 1 SOC report was a short one once we started the process.  As part of our SOC 2 Type 2 audit, we looked at both human-based and technology-based enterprise risk management measures as they related to the security trust principle. The examination included evaluating the technology we have in place, assessing the internal training for all our staff and reviewing the outputs from ongoing incident response exercises with our technical and crisis management teams. Security is a process and no organization can sit back and assume that it is 100% secure.  Achieving a level of security that can be independently verified, such as SOC, is a continuous journey that never truly ends. Our teams are regularly updating our defensive technologies, conducting penetration tests, reviewing privileged access grants and generally staying on top of the latest threat intelligence. Security is a process and no organization can sit back and assume that it is 100% secure.  Executive Support  For companies pursuing SOC 2 compliance (or considering going through the audit process), it is important to have both executive buy-in and full support and commitment across the organization from the ground up. This was the case for us at Vena. Our entire team were engaged champions of the process.  Conducting a SOC evaluation serves a number of valuable functions. It establishes a framework, cadence and discipline of ongoing review which can help protect an organization from both financial and reputational damage and ensure that authored policies are followed as part of the running business. Vena continues to strengthen our Complete Planning platform, which is designed to ensure our users’ data is safe, secure and always available.  To learn more about Vena’s commitment to customer trust, visit our Customer Trust page.      

Howatson’s experience scaling companies and building high-performing global finance organizations will guide Vena through its next phase of growth   We're pleased to announce that Melissa Howatson has joined Vena's executive team as chief financial officer, reporting to CEO Hunter Madeley.  Howatson joins Vena at a pivotal moment in its growth trajectory. The company recently grew its global team to more than 700 employees and, despite economic headwinds, has achieved record performance over the course of 2022, propelled by industry-leading customer satisfaction ratings and new milestones in its ecosystem of strategic partners and engagements with global customers.  In her new role, Howatson will help lead Vena through its next phase of growth, driving operational scale and agility in service of Vena’s ecosystem of customers, partners, employees and community.  “Vena has grown tremendously in the past year, and we were looking for a finance leader who has successfully guided companies toward their next milestone,” said Madeley. “Melissa brings a great combination of scale-up and start-up experience, a strong financial and consulting background spanning industries such as edtech, ‘Big Four’ accounting and automotive and a proven history of building and leading high-performing global finance organizations. We are thrilled to have her join us on our journey.”  Howatson joins Vena after almost a decade at D2L, a global learning technology company, where she served as CFO, was a member of the board of directors and led the completion of D2L’s initial public offering in 2021. Prior to D2L, she held finance leadership positions at Bend All Automotive, Qwalify and Primal. She obtained her CPA-CA designation while working in the assurance practice at KPMG.  “Vena enables finance to evolve from being simply an aggregator of data to a strategic business partner that delivers insight and analysis to drive agility, resilience and stronger decision making. The time is right for finance teams to harness the power of Vena ..."                                                                                 —Melissa Howatson                                                                                     CFO at Vena "Throughout my career, I have seen firsthand the value that finance teams can bring to the larger organization and the important role they can play in moving the business forward,” said Howatson. “Vena enables finance to evolve from being simply an aggregator of data to a strategic business partner that delivers insight and analysis to drive agility, resilience and stronger decision making. The time is right for finance teams to harness the power of Vena, and I’m excited to work with Hunter and the team to deliver the utmost value for our customers and guide Vena through its next phase of growth.”  Come Grow With Us We’re hiring! Vena has offices in Toronto, Canada and in London, England. Visit our Careers page for current job openings or follow us on LinkedIn, Instagram, Twitter or Facebook to learn more about life at Vena.  

Customer trust, corporate culture and a new employees milestone propel continued growth amid economic headwinds     TORONTO – Dec. 1,  2022 – Vena, the Complete Planning platform loved by finance and trusted by business, approaches 2023 following a strong performance in its third quarter. The company continued to grow its employee base and engagements with global customers, introduced new product innovation, drove customer growth buoyed by consistently exceptional satisfaction scores and was lauded for its product and corporate culture.  In November, Vena Solutions launched Vena with Microsoft Power BI Embedded. The integration enriches Vena’s Insights and Analysis solution with advanced data analytics and AI-powered business insights embedded directly into Vena’s cloud-based CPM platform, powering FP&A, extended planning and beyond. This integration represents the latest evolution of Vena's ongoing strategic collaboration with Microsoft and makes Vena the only Complete Planning platform with out-of-the-box, user-guided business intelligence for all.  TrustRadius, the community-driven product reviews site, recognized Vena Complete Planning with a 2022 Best Software award, which celebrates products that support the evolution of self-serve buyers by sourcing and using customer reviews. The recognition came on the heels of Vena winning a TrustRadius Tech Cares award for the third consecutive year. The award recognizes technology companies that go above and beyond in supporting their employees and the communities they operate in.  Additionally, Vena was named one of Canada’s Most Admired Corporate Cultures for 2022 by Waterstone Human Capital. The award recognizes not only strong corporate culture but also looks at how culture has aided the organization to drive success. These achievements all complement a strong third quarter that saw Vena grow its global team to more than 700 employees, maintain exceptional growth in revenue and achieve industry-leading customer satisfaction ratings.    “Vena’s exceptional performance despite global economic uncertainty is a testament to the trust our customers place in us, the value they realize from using our Complete Planning platform and the support of our partners and Venanites throughout the company,” said Vena CEO Hunter Madeley. “We are honored by the recognitions awarded to Vena for its products and, especially, its culture and people, and look forward to continued collaboration and partnership as we head into 2023.” Other highlights achieved in Q3 2022 include:  A customer base that has increased by more than 300 new customers in 2022, sustained record customer satisfaction levels and accelerated growth as customers continue to put their trust in Vena to power their Plan To Grow™ in turbulent times.  The addition of more than 30 new Partners this year, with Ujimatec, SolomonEdwards, Anatona and others joining Vena’s Partner Network in Q3.  The launch of Vena Marketplace, a destination where finance and operations professionals can access integrations, solutions and services to Power their Plan To Grow. Continued employee growth despite ongoing economic turbulence with a 30+% increase in headcount year-over-year. Successful completion of SOC 1 and 2 Type II audits, which provide an independent assessment of how Vena’s cloud-based CPM platform achieves compliance controls and objectives based on criteria defined by the American Institute of Certified Public Accountants (AICPA). Additional recognition of Vena with awards from workplace culture and corporate brand reputation platform Comparably. These awards included Best Company Happiness, Work-Life Balance, Perks & Benefits and Compensation.  About Vena Vena is the only native Excel Complete Planning platform built for Microsoft 365 with Power BI Embedded. Vena transforms how business, finance and operations leaders Plan To Grow™ with the Vena Growth Engine, the SaaS platform and methodology that empowers and inspires your plans and guides your growth journey. Over 1,300 of the world’s leading companies power their growth with Vena. For more information, visit venasolutions.com.   Media Contact Jonathan Paul Senior Director, Content & Communications, Vena jpaul@venacorp.com