This release originally published on NASDAQ Globe NewswireTop Ranking Customer Satisfaction and Product Usability Fuel Demand for Trusted, Real-Time Insights from Vena Software in Manufacturing Sector
TORONTO – Nov. 1, 2018 – Vena Solutions, the fastest-growing provider of cloud-based financial planning and analysis (FP&A) software, today announced that some of the world’s leading manufacturing companies are driving smarter business decisions using trusted insights with Vena. Manufacturing represents one of Vena’s largest customer segments, with ADAC Automotive, Knape & Vogt, North American Stainless, Armstrong International, Gehr Industries, STEMCO, Icon Aircraft and MC Assembly, as just a few in the company’s growing roster of manufacturing customers.
Given the inherent complexities that exist in all areas of manufacturing, accuracy and efficiency are vital to success – whether it’s on the factory floor or in the office of finance. Manufacturers need to maximize profitability within a complicated system of facilities, design specs, supply chains, distribution channels and more. Doing so requires effective budgeting and planning with all these factors taken into account, which in turn requires using the right software with the right, trusted data.
“The manufacturing industry lives and dies on accuracy and efficiency, where a micrometer deviation could lead to engines seizing up, or a bottleneck on the assembly line having cascading financial consequences on a company, its partners and customers,” said Don Mal, CEO of Vena Solutions. “Similarly, accuracy and efficiency in budgeting, forecasting or reporting can make or break a business strategy. That’s where finance comes in and – with it – the value of Vena’s power, ease-of-use and broad solutions platform.”
“The manufacturing industry lives and dies on accuracy and efficiency.”
Don Mal, Vena Solutions
Knape & Vogt, producers of functional hardware, storage-related components and ergonomic products, selected Vena’s FP&A software for its usability and ability to connect with its enterprise resource planning (ERP) system to streamline the company’s core finance processes. Combined with its flexibility, Vena provides the firms’ finance team with the time and resources to better collaborate with other departments and play a more strategic role in company-wide planning.
“Prior to implementing Vena’s software, we could spend days of manual effort creating weekly dashboards for our managers,” said Jessica Price, financial planning and analysis manager at Knape & Vogt. “With Vena, we’ve slashed that time from days to minutes by automating manual inefficiencies. Some of our most important finance team members have freed up three days a week to work on more strategic projects with our management and sales force.”
“Some of our most important finance team members have freed up three days a week to work on more strategic projects with our management and sales force.”
Jessica Price, Knape & Vogt
Vena helps finance departments eliminate inaccuracies, uncover new insights and gain complete visibility into their budgeting, planning, month-end close and reporting processes, among others. Its solution combines an intuitive Excel interface with a centralized database, workflow automation, powerful analytics and integration with ERP systems and other data sources across departments.
For ADAC Automotive, the biggest budgeting, planning and forecasting headache was human error. The finance team needed a more systematic approach to iron out inefficiencies and free up time to analyze data and uncover new insights to help drive company-wide decisions. With Vena’s FP&A software, integrated with Microsoft Dynamics and Excel, ADAC was able to overcome their headaches and help redefine the role of the finance function.
“Since we run a lean finance department, we needed to get our budget done in the most efficient way possible,” said Kelly DeWispelaere, financial director at ADAC Automotive. “Vena’s integration with Microsoft Dynamics gives us a single version of our financial data. And when everyone works from the same, trusted numbers, we significantly shorten our budget cycles and find time for in-depth analysis.”
Increasingly, accurate numbers and faster budgets are not enough to meet the FP&A needs of today’s manufacturers. Plant managers and CFOs alike need to be able to see the status of their business – and future opportunities – with the real-time data that’s most important to them. With its powerful analytics and company-wide software integration, Vena delivers on these needs with easy access to real-time insights so manufacturers can develop more data-driven business plans for virtually any scenario.
“We can now get up-to-the-minute numbers from our general ledger and use them in our budgets, forecasts, and reports. Ultimately, this allows our finance team to play a more valuable and appreciated role in shaping the future of our business,” added DeWispelaere.
“Ultimately, this allows our finance team to play a more valuable and appreciated role in shaping the future of our business,”
Kelly DeWispelaere, ADAC Automotive
According to Forrester, Nucleus Research and others, Vena is the FP&A market leader in customer satisfaction and product usability. Both are functions of the company’s founding vision of using Excel as its end-user interface, a defining feature which remains the company’s top competitive differentiator.
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About Vena Solutions
Vena Solutions redefines how medium and large sized companies manage their budgeting, planning and forecasting. Vena provides a cloud-based financial planning and analysis (FP&A) solution that combines Excel with a centralized database, sophisticated workflow, powerful reporting and advanced analytics. Almost 500 of the world’s best companies use Vena to get trusted insights that drive faster, smarter business decisions. Vena is the fastest growing company in its sector and recognized leader in customer satisfaction and product usability. Visit us at www.venasolutions.com.