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Case Studies > Automating A Budgeting Process with A Workflow Engine Leads to Trustworthy Results

Automating A Budgeting Process with A Workflow Engine Leads to Trustworthy Results

Technology Category
  • Functional Applications - Enterprise Resource Planning Systems (ERP)
  • Analytics & Modeling - Predictive Analytics
  • Application Infrastructure & Middleware - Data Exchange & Integration
Applicable Industries
  • Utilities
  • Professional Service
Applicable Functions
  • Business Operation
  • Quality Assurance
Use Cases
  • Process Control & Optimization
  • Predictive Quality Analytics
  • Remote Collaboration
Services
  • System Integration
  • Software Design & Engineering Services
The Challenge
Finance managers were facing significant challenges with version control and email overload due to the manual process of sending and receiving hundreds of budgeting spreadsheets across multiple departments. They struggled to determine the status of tasks in the workflow without constant communication via emails and phone calls, making it difficult to ensure projects stayed on schedule. Additionally, new information had to be manually consolidated into templates, and the use of uncontrolled spreadsheets allowed any user to change formulas or data, potentially impacting the accuracy of the budget.
About The Customer
One of Canada’s leading water services companies was manually creating, distributing, collecting, and consolidating hundreds of spreadsheets from dozens of departments for budgeting purposes. The company faced significant challenges in tracking user activity and the status of each task in the workflow without communicating with multiple contributors via emails and phone calls. This manual process was time-consuming and prone to errors, impacting the accuracy and timeliness of their budgeting process. The company sought a solution to automate and streamline their budgeting process, ensuring data accuracy and visibility while reducing the reliance on manual processes.
The Solution
Vena provided a comprehensive solution that seamlessly synced with the client’s GL and supported their complex business rules. Vena stored the client’s most up-to-date data in a single repository, automatically updating linked Excel templates when changes were made. The powerful workflow engine enabled managers to assign tasks and deadlines to specific users and view the progress of each task in near real-time. Detailed audit trails date-, time-, and user-stamped all changes to spreadsheets, and managers could set business rules to prevent unauthorized data entries. The drill-through feature allowed managers to itemize data sets and enter new data at any time, while Vena automatically made FTE calculations based on user input.
Operational Impact
  • Vena’s secure, central data repository seamlessly synced with the client’s GL, creating a 'single version of the truth'.
  • The data repository automatically consolidated templates, eliminating the need for the Finance team to link spreadsheets or run complicated macros.
  • Templates were automatically updated when changes were made to the data in the repository, saving time and eliminating version control and email overload issues.
Quantitative Benefit
  • Reduced time needed to set up and distribute templates by 50%.
  • Eliminated the need to manually collect and consolidate templates, saving approximately 30 hours per month.
  • Improved data accuracy by 40% due to the elimination of uncontrolled spreadsheets.

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