How business analytics improve your company’s bottom line
For many businesses, planning is like navigating a dark room. You know there’s a light switch in there, and maybe you even know you’re walking in the right direction towards it, but then you bump into a table. You change course, and trip over something else.
It’s often the same in business. You have a plethora of data at your fingertips, spread between different pieces of software, and you spend significant time piecing it together to make projections for the upcoming fiscal year.
Then, something unexpected happens. You have to either stay the course and hope for the best, or try to make a change.
With business analytics, it’s like someone turned the lights on in that dark room. Now you can see everything with extreme clarity, where the potential pitfalls are, and how to move around without any fear of bumping into things.
Vena Solutions does exactly the same for businesses.
Business analytics and what-if scenario planning
In order to grow your business, you first need to know your business. And to know your business, you need data that you can rely on.
How many times have you made forecasts, only to later realize that the actual results differed significantly? Vena utilizes accurate data so you can make decisions on the hard numbers.
It does this by helping you understand the past and present of your business, so you can decide on the future.
Let’s break that down:
Using business analytics like Financial Close Management, intercompany transactions, tax provisioning, account reconciliation, and allocations, Vena empowers you to understand and analyze your past.
Features such as regulatory reporting, financial reporting, variance analysis, and management dashboards were designed to bring a new level of clarity to what’s happening right now.
Vena’s advanced budgeting, forecasting, planning, and scenario modelling enable you to make confident plans for your business.
This scenario modelling isn’t superficial. Rather, it turns numbers into narrative so you can write the story you want. You have the power to spread numbers across the year in any way you want, model different projections, and visualize the impact of potential changes on both expenses and revenue.
Effective business analytics also require flexibility. Fluctuations in your business can render forecasts and plans redundant, but with Vena, you can simply adjust your modelling as required.
How Vena provides better business analytics
A lack of inter-team communication can be devastating to a business, especially when each team has its own set of data. Vena makes this a thing of the past. The corporate performance management (CPM) software integrates financial and operational data, bringing everything together in a single source of truth.
With this integrated data, the powerful CPM then has all the information you’ll need - from high-level to the most granular of details. At the click of a button you can see a broad overview for planning, and drill down into the details of a single spreadsheet cell.
Vena’s greatest strength is arguably its ability to play nice with other software. Not only does it bring everything together into one unified source of truth, it also connects with Excel - so you can interact with the data in an environment you’re already familiar and comfortable with. All of the data in your existing revenue-related systems, including your general ledger and ERP, will plug into Excel.
User case study: from 10 days to 5 seconds
Business analytics can benefit different companies in different ways. More than 800 businesses trust Vena, one of which is the Arizona Cardinals. Since joining the Vena team, the Cardinals have been able to reduce a task from 10 days to a mere 5 seconds.
Enter your details below to read the full case study.