Biola University Case Study

Biola

Learn how Vena streamlined Biola’s budgeting process by integrating with the client’s GL and automatically feeding timely data into a central database.

This leading private university was manually collecting and consolidating budget profit and loss statements from hundreds of organizational units. As a not-for-profit institution, the total budget needed to be balanced; if it wasn’t, spreadsheets would have to be manually re-distributed and re-assembled.

CaseStudy_Biolauniversity

The Finance team created and distributed dozens of spreadsheets to hundreds of organizational departments. Hundreds of users would then complete spreadsheets and email them back to the Finance team, who would manually consolidate received spreadsheets over a span of several weeks. If the total budget was not balanced at the end of this process, spreadsheets would have to be re-distributed and re-collected via email, leading to serious issues with version control and email overload. Additionally, the use of uncontrolled spreadsheets increase the likelihood that user errors would go unnoticed.

Vena improved the efficiency of the company’s budgeting process and made it easier for Finance to balance the budget by integrating with the client’s GL and automatically feeding up-to-date data into a central database. Connected templates are pre-populated with relevant information, and business rules prevent users from entering data that falls below or exceeds specified thresholds.

Why Vena?

  • Vena’s seamlessly integrates with the client’s GL
  • Up-to-date data from the GL is automatically fed into a central, secure database on a daily basis
  • Powerful ETL processes extract data from the client’s spreadsheets and templates and stores their most up-to-date models, business drivers, and assumptions in a single location
  • Connected Microsoft Excel templates are automatically updated when changes are made to data contained within the database
  • Vena’s business rules prevent users from entering data into a template that falls below or exceeds thresholds established by management
  • Vena’s workflow engine allows finance managers to assign task and deadlines to particular users and monitor workflow status in near real time
  • Detailed audit trail records all end-user actions in an easy to read log

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