Press Release
Vena Introduces Vena Copilot, a Complete Planning AI Assistant Purpose-Built for FP&A Teams
Vena Copilot for FP&A harnesses the power of Microsoft Azure and Azure OpenAI Service to unlock the strategic potential of FP&A teams and the organizations they support TORONTO - April 3, 2024 – Vena, the Complete Planning platform loved by finance and trusted by business, today announced that it is bringing state-of-the-art generative artificial intelligence (AI) capabilities to financial planning and analysis (FP&A) teams with Vena Copilot. Vena Copilot for FP&A combines Vena’s category-leading FP&A expertise with Microsoft Azure OpenAI Service large language models, including GPT-4, to help FP&A teams and their collaborators increase productivity, operational efficiency, and business agility so they can focus on driving strategic impact. Today, 75 % of an FP&A team's work is gathering data and administering processes. That stops now with Vena Copilot. Vena Copilot acts as an extension of the FP&A team, doing tactical work and producing insights using the most intuitive interface there is—natural language—to unlock everyone’s strategic potential. With Vena Copilot for FP&A, teams can: Easily create and train a dedicated Complete Planning AI assistant that is built on their organizational knowledge, and learns from feedback and preferences to get smarter over time. Gather data, generate reports, analyze trends, optimize forecasts and more, doing work that used to take hours in minutes with a simple prompt. Empower anyone to interact with data and insights quickly and easily using natural language, such as identifying seasonal patterns in revenue by product or identifying departments that have the highest in period actual to budget variances. Create a seamless flow of work alongside Copilot for Microsoft 365 only through Vena’s native integrations with Microsoft 365, from unlocking insights to visualizing data. "Vena Copilot for FP&A is a game-changer for FP&A teams, empowering them to do more with less effort and better use of their resources," said Hunter Madeley, CEO of Vena. "It’s not just a new tool, it's a trusted ally that helps FP&A teams and their collaborators achieve their full strategic and operational potential, driving agility and resilience in the face of dynamic business conditions." Vena Copilot uses the combined power of Microsoft Azure OpenAI Service advanced AI models including GPT-4—the largest and most powerful language model in the world—and Vena’s central analytical data model, CubeFLEX™, enabling FP&A teams to put the power of generative AI to work across Complete Planning use cases and unique data sets. Vena Copilot is also enterprise-ready, built with industry-leading generative AI enterprise security, compliance, and privacy capabilities driven by ethical principles, including role-based access controls and prompt compliance management. This allows FP&A teams to deploy Vena Copilot easily, safely, and responsibly within compliance requirements—no IT, data scientists, or AI engineers required. "Vena Copilot for FP&A is the result of our close collaboration with Microsoft to bring together the best of both worlds: Microsoft's world-leading AI technology and Vena's deep FP&A domain expertise," said Hugh Cumming, Chief Technology Officer, Vena. "By integrating Microsoft Azure OpenAI Service large language models with Vena CubeFLEX, we are giving our customers a powerful addition to their Vena Complete Planning solution that leverages their existing data, systems, and workflows and enables generative AI capabilities that are tailored to their specific FP&A requirements." "Vena’s use of Microsoft Azure OpenAI Service to create Vena Copilot for FP&A has resulted in a transformative generative AI assistant that empowers all teams to be more productive, efficient, and strategic," added Sylvia MacPherson, National Unicorn Leader, Microsoft Canada. “This solution is a great example of how our partners are using Microsoft AI technology to build innovative and customized AI solutions that address specific business challenges and opportunities, and how Vena is transforming the strategic office of finance." Vena Copilot is the latest addition to Vena’s industry-leading AI offering, which harnesses Microsoft AI technology for Complete Planning. This includes Vena Insights, an intelligent, AI-powered reporting and analytics solution, and native integration with Copilot for Microsoft 365 as well as Microsoft Excel’s powerful AI toolset. Vena Copilot is currently in beta. To learn more about Vena Copilot and see it in action, register for Excelerate Finance 2024, the annual conference where attendees can discover the skills, methodologies, and next-gen technologies that will empower them to architect the future of finance. About Vena Vena is the only Complete Planning platform natively integrated with Microsoft 365. Vena streamlines financial and operational planning, simplifies reporting and analysis processes, and provides advanced analytics and modeling capabilities to help business, finance and operations leaders make agile and more informed business decisions. With Vena, you can leverage the power of Excel and AI-powered insights in a unified, cloud-based platform that enhances productivity, collaboration and insights. Over 1,700 of the world’s leading companies rely on Vena to power their planning. For more information, visit venasolutions.com. Media Contact Jonathan Paul Vice President, Content Marketing jpaul@venacorp.com
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