16 Jul Vena Solutions on Track to More than Double Client Base by Year’s End
Corporate performance management vendor finishes strongest quarter to date, signing industry leaders in mining, financial services, healthcare and higher education as well as new clients in many other industries.
Toronto, Canada, July 16, 2014 – Vena Solutions, an industry recognized provider of next-generation corporate performance management (CPM) software, marked its strongest quarter to date and is on track to continue experiencing record-breaking growth as the year progresses.
The first half of 2014 was characterized by a 250% year-over-year growth in client acquisition as the company signed many new clients directly and through its global partners.
Notably, 90% of Vena’s Q2 2014 license transactions are subscription-based, which secures a robust, steady future revenue stream for the growing company.
Building on this momentum, Vena is on track to more than double its existing client base and triple year-over-year results by the end of 2014.
In the first two quarters of 2014, the company grew steadily, adding several new clients to its already impressive list of large enterprise and mid-market organizations. In particular, Vena continued to gain traction in the mining and financial services sectors.
Additionally, a reputable Canadian university chose Vena to manage their assessment-based accreditation process for the Canadian Engineering Accreditation Board, further demonstrating how Vena, an Microsoft® Excel®-based enterprise solution, can be extended to processes that fall well beyond finance and accounting.
“Companies all over the world are responding with overwhelming enthusiasm to our ‘embrace Excel’ approach to corporate performance management,” explains Don Mal, CEO of Vena Solutions.
“We have already surpassed the client acquisition and sales records we set in 2013 due to several factors – the sophistication of our product, our exceptional customer service and the low-risk nature of our implementation process. These factors combined are contributing to the success we continue to experience in the highly competitive CPM field. We are very excited for what the rest of 2014 has in store.”
ABOUT VENA SOLUTIONS:
Vena Solutions has redefined how companies automate their most mission-critical finance, accounting and business processes. Our platform embraces the best of Microsoft® Excel®, extending and evolving its capabilities to create a next-generation enterprise solution that is powerful, yet intuitive. Vena is a first-to-market solution that offers the most comprehensive suite of cloud-based corporate performance management (CPM) capabilities with a quick deployment methodology – all without compromising what you love best from Excel.