MAKEEN Energy, a Danish company specializing in solutions and services for the energy sector, modernized its financial processes using the Vena platform. This transformation enabled the company to automate its financial consolidation, improve data quality and strengthen its analytical capabilities, while retaining a familiar Excel-based working environment.
Before this project, MAKEEN Energy's international growth had made consolidation operations increasingly complex. Data came from several ERP systems, and teams had to perform numerous manual operations in Excel to produce financial reports. This organization required significant time and limited visibility into the company's performance.
A platform for centralizing and improving data reliability
To address these challenges, MAKEEN Energy deployed Vena with the support of its partner Finext. The solution centralized financial data, standardized reporting processes and automated consolidation operations. Teams now have a single source of data, providing greater consistency of information and real-time monitoring of reporting progress across the various entities.
Significant time savings for Finance teams
The benefits became apparent quickly. The time required for financial consolidation was reduced from one to two days to approximately two hours. This significant reduction in turnaround time enables Finance teams to devote more time to analyzing results rather than to the manual collection and validation of data.
Improved visibility to support decision-making
Beyond productivity gains, Vena also provides improved visibility into the company's performance. Teams can now analyze margins, business segments and different types of projects more precisely. This level of granularity gives Finance leaders more reliable information to support strategic decisions and respond more quickly to management requests.
Native integration with Excel also facilitated user adoption of the solution. Employees continue to work in an environment they are familiar with while benefiting from the advantages of a centralized and automated platform.
An ongoing transformation
MAKEEN Energy now intends to continue developing its Vena environment in order to gradually extend the platform's use to other areas of financial planning and analysis. This development is part of an approach aimed at sustainably strengthening performance management and the use of financial data across the group.
source: Vena Solutions
