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  • 1.  OpEx Planning 📈

    Venanite
    Posted 02-24-2022 16:17

    Hi everyone!


    My name is Naman, Senior Lifecycle Marketing Manager at Vena.


    With the shift in remote and hybrid work environments over the last few years, I'd like to know how everyone has planned their OpEx with these changes. 

    • What changes have your organizations made to adapt to this "new normal"? 
    • How has your finance team planned for the changes in remote or hybrid work?

    As a friendly reminder, there's a demo session next week on Friday, March 4, 2022 from 1–2 PM EST where Vena Expert and Solutions Consultant Evan Short will walk through how Vena can help create more accurate forecasts with driver-based calculations for common operating expenses. Be sure to RSVP here! 


    For additional reading, I'd recommend perusing this blog post. 


    Thanks all!



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    Naman Gupta
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  • 2.  RE: OpEx Planning 📈

    Founding Member
    Posted 03-04-2022 08:35
    Haven't really made any changes.  Still keeping our offices, even if underused office space.  We do expect to get back to some kind of normal soon.  Our organization already had 'hot desk' office arrangements and flexible work from home options.  Of course, going forward I would expect the work from home options will be much more flexible.

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    David Cornfield
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  • 3.  RE: OpEx Planning 📈

    Founding Member
    Posted 03-07-2022 15:45
    Naman,

    Our organization had individual's is now back in the office and branches full time since Q4 2021.

    We are yet to try and budget or forecast our OPEX to anything resembling the impact of COVD

    Christopher Rivera

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    Christopher Rivera
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  • 4.  RE: OpEx Planning 📈

    Founding Member
    Posted 03-08-2022 10:46
    Our organization, Partners In Health, has committed to maintaining a flexible option for employees. The majority of our US based staff are in the Boston area where we have an office, but employees are not yet required to return to the office on a regular basis. Instead they are able to choose to go into the office as needed. When everyone first went remote, our OpEx expenses were reduced a bit where we could, i.e. office utilities and printing costs decreased, but we also began offering to help furnish their home offices, particularly for those that couldn't go into the office to pick something up. That required a policy to determine what types of expenses and items were reasonable, like monitors/printers/notebooks/pens/etc., while also asking for justification from the employee for why they needed the higher ticket items.

    We've also regularly created surveys to understand what might entice employees to come into the office. People raised ideas around free coffee/snacks, but also subsidized public transit passes or parking. Our office is in downtown Boston so before the pandemic, most employees brought their own coffee/snacks (could store them in shared refrigerators/cabinets) and rode the subway or buses and had to pay for that themselves. It's interesting to me to see a shift in thinking now where some employees are essentially saying, "I'll come into the office if you pay for my transportation costs to get to the office and my coffee/snacks, otherwise I might just work from home all the time." It's not yet clear whether we'll be able to offer those types of benefits across the board or if our leadership feels strongly that being in the office is completely necessary to build culture and community, but it also raises questions around equity if some employees are getting those benefits by going into the office while others are remaining remote full/part time.

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    Brendan Eger
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  • 5.  RE: OpEx Planning 📈

    Venanite
    Posted 03-09-2022 14:04
    Thank you for the responses! It sounds like operational expenses have become quite dynamic in a hybrid environment and companies are depending on leadership as well as employees to understand policy guidelines and that will subsequently affect OpEx planning.

    Curious to know if people are doing what-if scenario analysis?

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    Naman Gupta
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  • 6.  RE: OpEx Planning 📈

    Venanite
    Posted 08-16-2022 13:47

    Hi everyone!


    I wanted to bring back this thread and compare the responses from a few months ago to now. It's interesting to look back at previous conversations and see how things have changed in your organization, or for yourself professionally.


    How has planning for the return to office compared to the execution?

    Is the return to office something you continue to plan for in your #OPEX or has something new come up in your organization and now need to plan for?


    Please share your thoughts, I'm curious to know!


    And, while we're here, I'd like to remind everyone that next week on August 23, we have a Vena with Evan demo on OPEX! Tune in to learn how to create more accurate forecasts with driver-based calculations. Be sure to RSVP here and share your questions and thoughts in this thread.  


    And, in case you need an OPEX template, be sure to check out this library entry!

    #Event #VenaTip​​​

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    Naman Gupta
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  • 7.  RE: OpEx Planning 📈

    Venanite
    Posted 08-24-2022 14:29

    Hi all!


    Thank you again to everyone who attended yesterday's Vena with Evan on OpEx. I hope the demo brought some new insights and inspired you all with your Vena instance.


    I wanted to follow up with some of the questions asked during the event by answering them here in the Forum. If you have any other questions be sure to ask them below and to check back in the Forum regularly for Q&As!

    Question

    Asked By

    Answer

    Is there a way to get the "side model" to stay. My experience has been that once this is checked back in, all new sheets are deleted.

    Sarah K.

    Yes, you can have your template set up as a Hybrid, Standalone, or central template. See Knowledge base for more information.

     

    Do you have a way to track contract labor separate from employees, but have the ability to consolidate?

    Heather M.

    Yes, you can classify contract employees differently from regular employees, and consolidate the totals based on the view you require. 

    How do you add a new account?

    Jin T.

    You can add new accounts through the modeler tab. New accounts will also automatically get added if data flows in from your source system. 

    Does everyone have access to Vena 365?

    Lauren

    Yes this is available for all who have access to Microsoft Office 365. 

    Will it dynamically pull in new accounts that do NOT have a balance or no transaction posted to this account yet?

    Lynn S.

    Templates can be set up to pull in all accounts or accounts that have balances. These are settings that can be set up when mapping your templates. 

    For "years", is there capability to add fiscal years and have data analyzed by that rather than calendar year periods?

    Susan O.

    Yes, you can have various hierarchies set up to allow for different views of financial information. 

     



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    Evan Short
    Consultant
    Vena Solutions
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