The case for Vena
“Running ad-hoc scenarios, especially for high-level simulations, is difficult for finance teams, as they are only as good as the date you base your scenario on,” business consultant Ben Reynaert went on to say. “In fact, finance needs accurate, reliable and up-to-date information from sales as well as from production, operations, supply chain, etc. That’s no easy feat. So, the simulations as we’ve known them until today often contained a bit of guesswork and were error prone.
“ERP systems can help gather data from different sources, but the embedded simulation tools are not really flexible. Excel, on the other hand, is too flexible and it’s a stand-alone system, which makes the process of building a financial model complex and often frustrating.”
During the webinar, Ben and Michiel showcased a number of simulations often run by controlling, highlighting the benefits of Vena Software in boosting accuracy and efficiency:
- Central database: Vena brings data from every function of the business together in a secure, centralized database – as the ideal starting point for what-if simulations.
- Predefined simulation templates: preconfigured templates and flexible modeling capabilities make sure that everyone involved – sales, operations, finance – works in a uniform way. This helps save time and ensures accurate scenario models.
- Customized security/access rights: it’s easy to define user roles in Vena, allowing access to only those people who are authorized to run simulations and report on them. Moreover, controllers get complete visibility over the process.
- Easy archiving – and re-use – of past calculations and parameters: controllers can go back and view numbers or budgets from an earlier moment in time. This might be handy for audit trails, but also in reusing past scenarios and experimenting with them.
- Workflow assistance: Vena offers a process-mapping and management tool to take care of all the bottlenecks and workflow issues. It helps your team create process maps, automate processes, provides automated emails to notify users, etc. to avoid inefficiencies.