Canada – Vena Solutions has announced the general availability of Vena Financial Consolidation, an Excel-native solution designed to support complex, multi-entity financial consolidation.
The Toronto-based company said the solution provides finance teams with a consolidation engine for governed financial close and audit-ready reporting. It can also connect consolidated actuals with planning, reporting, and decision-making capabilities within Vena.
Vena said the standalone offering is aimed at organisations with complex financial close requirements, while forming part of its broader vision for Microsoft-native Orchestrated Planning, Decisioning and Close.
Organisations can deploy Vena Financial Consolidation independently or connect it with Vena’s planning and reporting capabilities. According to the company, this approach is intended to reduce manual handoffs, reconciliation work, and the use of fragmented tools during the process from financial close to business decision-making.
The solution retains the Excel experience while adding consolidation, automation, governance and auditability capabilities for managing complex financial structures.
“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,” said Andrew Stanbridge, Senior Vice President of Product at Vena.
“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,” he continued.
