Rapidly Reconcile Your Accounts
It takes companies an average of 20.5 days to reconcile their accounts.
Manual processes, such as reviewing hundreds of spreadsheets each month, slow you down and prevent you from closing the books on time. Keying in data also leads to errors that make your financial statements unreliable.
Vena automates the entire account reconciliation processes—from ensuring that entries are accurate and approved to preparing financial statements. With Vena, you can close the books 50% faster while gaining accurate numbers—all within Microsoft Excel.
Reduce manual data entry by up to 75%
You likely reconcile hundreds—if not thousands—of accounts each month.
Vena eliminates the need to store this data in separate Excel spreadsheets that are difficult to track and manage. Instead, Vena gives you one, central database that users across your company can easily access. The secure database is updated in real time, reducing your need for manual data entry by up to 75 percent.
You can also integrate Vena with any ERP or GL system so users won’t need to work across multiple platforms or risk keying errors; improving the integrity of your data while eliminating version control issues.
Gain complete visibility into your account reconciliation workflows
Vena’s workflow, notification, and audit trails make it easy to monitor and control your account reconciliation processes. With Vena, you can:
- Log into a dashboard to monitor entities, reviews, and approvals.
- Trace entries and changes to their associated users, reviewers, and approvers.
- Send automatic reminders to users when they need to start, revise, or complete a task.
- View user logs to quickly identify bottlenecks and take action to correct them.
Don’t give up Microsoft Excel (make it more powerful, instead)
With Vena, you don’t need to sacrifice the familiarity of Microsoft Excel—or the hundreds of models, formulas, and templates that you’ve customized over the years. Vena makes it easy to perform all of your account reconciliation processes from within Excel.
- Automate your workflows so data at the entity level is reviewed, approved, and submitted in a timely manner.
- Minimize mundane tasks so you have more time for value-added financial analysis.
- Easily and quickly compare general ledger account balances with sub-ledgers, such as accounts receivable and sales ledgers.
- Automate reconciliation of cash between book and bank balances.