For anyone who wonders why spreadsheets can’t simply be the de facto interface for data, Blue Hill believes that Vena has taken a novel approach that is now being validated by a market and a round of investment typically associated with rapid market growth.
Blue Hill Research recently analyzed Vena’s proven and successful “Embrace Excel” approach to corporate performance management (CPM), one that “directly conflicts with the status quo in enterprise software. Nearly every enterprise application directly competes against spreadsheets as an ungovernable data store and analytic tool,” as stated in a recent article.
Going against this status quo, and appreciating Excel’s virtual universal adoption and familiarity across departments and industries, is precisely what drives Vena’s unique value proposition and – ultimately – customer success. Hyoun Park, Blue Hill research CRO, goes on to say:
Rather than [getting rid of spreadsheets], Vena has flipped this idea on its head by providing governance to spreadsheets. Although Vena has started with more standard financial, accounting, and regulatory GRC (governance, risk management, and compliance) use cases, Blue Hill believes that Vena has actually created something that could be much greater in scope: a platform that can actually translate spreadsheets into enterprise-grade applications across any use case.
According to Park, given that companies across all industries (not just finance) have data trapped and isolated in spreadsheets, “the business value for this capability could be a billion dollar opportunity.” Park said, adding that “Blue Hill believes that Vena has taken a novel approach that is now being validated by a market and a round of investment typically associated with rapid market growth.”
Vena’s “bread and butter” has traditionally been automating budgeting, planning, and forecasting processes – but the long term opportunities for this Excel-based approach are virtually limitless. Just think of the vital role spreadsheets continue to play in virtually every department, company, and industry today…with no sign of this changing any time soon.
Vena is an award-winning company – recognized for its rapid growth and consistent leadership in customer satisfaction – that turns Excel into an enterprise-class platform to automate financial and other spreadsheet-driven processes across organizations.
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