Case Studies Building Better Budgets and Reporting with Excel

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	Building Better Budgets and Reporting with Excel

Building Better Budgets and Reporting with Excel

Technology Category	Analytics & Modeling - Predictive Analytics Functional Applications - Enterprise Resource Planning Systems (ERP)
Applicable Industries	Construction & Infrastructure
Applicable Functions	Business Operation Quality Assurance
Services	Software Design & Engineering Services System Integration
Challenge	Manual data collection from 31 global offices was too time-consuming and potentially error-prone. Data security was an ongoing concern due to sharing budget templates and reports over email. Maintaining existing Excel investments was crucial for Cumming, a feature that competitors couldn't offer. Read More
About Customer	Cumming Corporation is an international project management and cost consulting firm with revenues of $120 million. The company operates in the construction services industry and has 105 users. They were using Deltek software for their processes, which include budgeting, forecasting, financial close, and reporting. The firm faced challenges with manual data collection from 31 global offices, which was time-consuming and prone to errors. Data security was also a concern due to the sharing of budget templates and reports over email. Maintaining their existing investments in Excel was a must for Cumming, a feature that competitors couldn't offer. Read More
Solution	The Vena solution provided a dynamic report builder and source system integration, resolving manual data collection issues. The familiar Excel interface facilitated a quick transition to Vena with no business disruption. Role-based security and business rules ensured that contributors could only see and edit the right data. This solution not only maintained their existing Excel investments but also enhanced data security and accuracy. Read More Log in to view content
Contents

Technology Category

Analytics & Modeling - Predictive Analytics

Functional Applications - Enterprise Resource Planning Systems (ERP)

Applicable Industries

Construction & Infrastructure

Applicable Functions

Business Operation

Quality Assurance

Services

Software Design & Engineering Services

System Integration

Challenge

Manual data collection from 31 global offices was too time-consuming and potentially error-prone. Data security was an ongoing concern due to sharing budget templates and reports over email. Maintaining existing Excel investments was crucial for Cumming, a feature that competitors couldn't offer.

About Customer

Cumming Corporation is an international project management and cost consulting firm with revenues of $120 million. The company operates in the construction services industry and has 105 users. They were using Deltek software for their processes, which include budgeting, forecasting, financial close, and reporting. The firm faced challenges with manual data collection from 31 global offices, which was time-consuming and prone to errors. Data security was also a concern due to the sharing of budget templates and reports over email. Maintaining their existing investments in Excel was a must for Cumming, a feature that competitors couldn't offer.

Solution

The Vena solution provided a dynamic report builder and source system integration, resolving manual data collection issues. The familiar Excel interface facilitated a quick transition to Vena with no business disruption. Role-based security and business rules ensured that contributors could only see and edit the right data. This solution not only maintained their existing Excel investments but also enhanced data security and accuracy.

Impact #1	Reduced reporting cycle from 4 weeks after the month-end close to the same business day.
Impact #2	Freed up time for better analysis and decision-making.
Impact #3	Improved data security and accuracy.

Impact #1

Reduced reporting cycle from 4 weeks after the month-end close to the same business day.

Impact #2

Freed up time for better analysis and decision-making.

Impact #3

Improved data security and accuracy.

Benefit #1	96% reporting time reduction, from 4 weeks after the close to the same business day.
Benefit #2	Direct dollar savings in the first year of $55,000, equivalent to a full-time hire.

Benefit #1

96% reporting time reduction, from 4 weeks after the close to the same business day.

Benefit #2

Direct dollar savings in the first year of $55,000, equivalent to a full-time hire.

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Overview

Building Better Budgets and Reporting with Excel

Operational Impact

Quantitative Benefit