BNP’s Finance team was creating hundreds of spreadsheets, then distributing and collecting them through email and manually consolidating them. Each received template was formatted differently and needed to be manually adjusted. Also the manual consolidation of spreadsheets was a long and painful process that took several months. On top of that, due to the uncontrolled nature of the spreadsheets, anyone could change a formula, calculation or line of data, potentially skewing budget numbers.
In addition to providing version control, Vena automated previously manual processes with a secure, central data repository that seamlessly syncs with both Vinci and Paradigm. A single Excel template is sent to all users and received templates are automatically consolidated into Vena’s central data repository in a matter of seconds. As a result, Finance has more time to devote to value-added activities, such as analysis, discussion and decision-making.