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451 Research - Vena Courts Excel Devotees [RWH] [FGI]

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12/2/2015 Vena courts Excel devotees with performance management cloud service https://451research.com/reportshort?entityId=87269 1/8 IMPACT RPORT Vena court xcel devotee with performance management cloud ervice NOVMR 11 2015 Y KRIHNA ROY (/IOGRAPHY?ID=239) Vena Solutions is looking to single itself out from fellow purveyors of a SaaS performance management offering by embracing Microsoft Excel, which remains a popular tool for budgeting, planning and other performance management tasks. Vena is designed specifically for Microsoft's spreadsheet, providing workflow, audit capabilities, business rules and an in memory analytical database to underpin native Excel features. Having secured its first customer in November 2011, Vena claims to be signing 40 customers per quarter, and to be on track to achieve tripledigit annual recurring revenue growth in 2015. The 451 Take Vena's ability to provide native Excel functionality is a differentiator and important because there are many spreadsheet jockeys out there who want to keep using the skills and familiarity they have built up using Excel. We also think some of the arenas under development, such as data discovery, will keep Vena's growth up. Innovation is important not only because performance management in the cloud is a sizzling and cutthroat segment, but also because Microsoft continues to pump features into Excel to better handle some scenarios Vena is also looking to serve. Context

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