Toronto-based business planning software provider Vena announced last week the general availability of Vena Financial Consolidation, an Excel-native solution that automates intercompany eliminations, FX translation, ownership logic, and adjustments in one governed system.
The solution gives finance teams a purpose-built consolidation engine for governed close and audit-ready reporting, with the option to connect consolidated actuals directly to planning, reporting, and decisioning within Vena, the company said
“With this launch, Vena now offers advanced financial consolidation as a standalone solution for organizations managing complex close requirements while also advancing its vision for Microsoft-native Orchestrated Planning, Decisioning, and Close,” an Aug. 26 media release states.
Organizations can adopt Vena Financial Consolidation independently or connect it to planning and reporting within Vena, reducing the manual handoffs, reconciliation work, and fragmented tools that can slow the path from financial close to business decision, the company says.
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In addition, Vena says the solution “preserves the native Excel experience while adding the advanced consolidation engine, automation, governance, and auditability required to manage complex financial structures at scale.”
“Finance and accounting teams know Excel and value its flexibility and familiarity. The challenge is making that experience work at the scale of today’s close,” Andrew Stanbridge, senior vice president of product at Vena, said in a statement. “Vena Financial Consolidation gives teams an advanced consolidation solution built for that complexity with the option to connect close to planning, reporting, and the decisions that follow in the same Vena environment. That gives finance more time to understand the numbers, trust the outcome, and act on what they learn.”
More information about Vena Financial Consolidation can be found here.
Photo credit: Vena
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