Press Release

Vena and Fluence Announce Strategic Partnership To Provide a Unified Solution for Business Planning and Financial Close

December 20, 2022 |
by Vena Solutions

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

 

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