Back to Blog
professionals budgeting and planning

Event Recap: How Vena Can Help You Optimize Your Back Office

In many cases, time spent on manual processes within finance can amount to a third or even half of a full-time employee per year. For resource-strapped nonprofits, this can be a huge obstacle in the way of planning and making strategic decisions for the future of their organizations.

On October 30th, 2019, JMT Consulting and Vena hosted an event for New York nonprofit professionals to network and learn how the FP&A tool, Vena, can help organizations recoup the collective time and effort spent on manual tasks, increase collaboration, save on opportunity costs, and mitigate risks found in Excel-based budgeting and planning processes. Here are a few of the key takeaways from the event:


Vena allows you to continue to operate within Excel.

JMT Consulting is very familiar with organizations that have attempted to implement various FP&A softwares, but eventually revert back to using Excel for analysis within a few years. Excel is the ‘safe place’ — the tool many rely on to create models before transferring the results into another system. This transfer of data, though, results in increased manual processes and a greater likelihood of errors.

With Vena, you don’t need to leave this ‘safe place’ to achieve greater workflow management and mitigate risks. This FP&A solution fully integrates with Excel, so your existing processes continue, but with the added benefits of modern-day Cloud technology: security, scalability, collaboration, and control.

In addition, many FP&A tools have a steep learning curve. If the one employee who knows the system leaves the organization, then the investment in training is lost. It could be many months before a new person can be hired and fully trained, leaving the organization operating with a major blind spot. With an Excel based SaaS, there is no prolonged training.

Vena enables you to integrate all of your systems into one centralized database.

If your organization struggles with broken processes and attempting to be efficient across multiple systems, Vena could help by integrating all of your existing systems into one centralized database. A robust process workflow engine that increases collaboration across an organization, Vena makes it simple to assign tasks and track completion status. By decreasing the time you spend collecting and consolidating data, your team is free to allocate more time towards analysis and strategic planning.

Vena simplifies financial processes.

If you are dependent on processes that utilize spreadsheets, are repetitive, and are collaborative in nature, Vena can help. Budgeting, forecasting, reporting, capital project management, financial close, and regulatory reporting can all be automated and streamlined using this tool.

Vena brings organizations greater collaboration and control to nonprofit teams.

Vena is not only a strong tool for finance teams — its secure and scalable design empowers people outside of finance to understand their budget so the entire organization can participate in making effective budgetary decisions.

Vena also provides a visual workflow process with notifications and a clear layout of which users are responsible for completing specific tasks, instructions for completing a task, and the ability to attach supporting documents. With the option to set static or smart close dates, Vena provides freedom to complete projects in as rigid or flexible an environment as your team designs.

Used by 8 of the 10 major banks in the United States because of its security and ability to produce regulatory reporting, Vena has the highest ratings of end-user adoption according to BPM Partners and TrustRadius.

In addition to the above-mentioned benefits, Vena is a particularly strong solution for nonprofits. Its affordability, quick deployment, short learning curve, and adoption rate among non-financial people makes it an ideal solution.

Vena User Instructions Documents

For a more in-depth review of Vena’s robust workflow management functionality, view our on-demand video here

We’d love the opportunity to learn more about your FP&A needs and how we can help you streamline processes, promote team collaboration, and increase strategic planning for your organization. To chat with one of our nonprofit experts, contact us here.

Related Posts:
5 Questions to Ask Before Your Nonprofit’s Next Software Implementation
February 18, 2020
5 Questions to Ask Before Your Nonprofit’s Next Software Implementation

Is your nonprofit scouting the arena of back-office systems in the pursuit of increased organizational efficiency and mission success? In the world of software and technology, JMT is referred to as a “Value-Added Reseller” (“VAR”) of the products we represent. As in other industries, many software publishers choose to work with a network of partners…

Reap the Benefits of Your Hard Work: Practical Strategies for Using Impact Data
June 29, 2018
Reap the Benefits of Your Hard Work: Practical Strategies for Using Impact Data

Can you imagine spending months tending to your garden, only to let the vegetables you’ve been growing rot before anyone can enjoy them? Hardly. Yet when it comes to data collection and use, many organizations do just that. They toil away setting up plans to deliver services and track results. They pour sweat and tears…

How To Reduce Financial Risk for Your Nonprofit
April 16, 2018
How To Reduce Financial Risk for Your Nonprofit

Many nonprofits walk a razor-edge financially. Nonprofits address society’s most difficult issues, compete for limited funding and struggle to find and keep qualified staff to run their organization. A new report by Oliver Wyman, SeaChange Capital Partners, and GuideStar, which examines the finances of more than 219,000 U.S. nonprofits, reveals sobering realities: Around 50% have…

How to Tell Your Nonprofit’s Story
February 6, 2018
How to Tell Your Nonprofit’s Story

How do you measure the success and impact of your nonprofit’s mission? Similarly, how do your donors—be they individual, foundations, or corporate—know if their donations are impacting the work of your nonprofit through its mission? Many nonprofits gauge their impact through statistics such as the number of people served, families fed or housed, or the…

 Back to Blog