MAKEEN Energy, a Danish company specialising in solutions and services for the energy sector, modernised its financial processes by leveraging 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 carry out numerous manual manipulations in Excel to produce financial reports. This setup was time-consuming and limited visibility into the company's performance.
A platform to centralise and ensure data reliability
To address these challenges, MAKEEN Energy deployed Vena with the support of its partner Finext. The solution made it possible to centralise financial data, standardise reporting processes and automate consolidation operations. Teams now have a single source of data, providing greater consistency of information and real-time tracking of reporting progress across the various entities.
Significant time savings for Finance teams
The benefits quickly became apparent. The time required for financial consolidation was reduced from one to two days to around two hours. This significant reduction in lead times enables finance teams to devote more time to analysing results rather than to manual data collection and validation tasks.
Better visibility to support decision-making
Beyond productivity gains, Vena also provides better visibility into the company's performance. Teams can now analyse margins, business segments and the various types of projects more accurately. 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 use an environment they are familiar with while benefiting from the advantages of a centralised and automated platform.
A transformation set to continue
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 evolution is part of an approach aimed at sustainably strengthening performance management and the use of financial data across the group.
source: Vena Solutions
