Hi Irene,
Some ways the finance team adds financial literacy to the organization are as follows:
 1. As part of the on-boarding process, a representative from the financial reporting team and FP&A team will meet with all the new hires and discuss the budgeting process at Vena (how we leverage our own software in budgeting) and the difference between a bottom's up vs. a top down budget. The financial reporting team will discuss how we leverage the ETL connection between our ERP system and Vena to perform month end analysis and prepare investor reporting. We also discuss how we use Vena on the team to perform other tasks such as cash flow forecasting, headcount planning, commissions calculations, covenant calculations etc. This provides all Vennanites some insight into the financial processes at the Company.
2. On a monthly basis, we prepare analysis of financial results and those results are consolidated into an executive leadership presentation. The presentation is presented to executive leaders to provide insight into key financial and non financial KPIs to aid in business decision making. As part of the monthly process, results are also presented to department heads so they have insight into how their group is tracking against the Plan.
3. We provide the validated underlying data to the operations team which helps generate a Power BI dashboard that visualizes key KPI results. The data is provided directly within the Vena Platform. The dashboard is available after month end via our Intranet to employees.
4. The finance team maintains a "finance dictionary" with key terms and definitions on how metrics are calculated. This dictionary is available for all to view on the company intranet.
Looking forward to see what other companies are doing :)
Mariam
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Mariam Azhar
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Original Message:
Sent: 04-01-2022 10:52
From: Irene Tang
Subject: Elevating Financial Literacy in Your Organization 📖
In celebration of Financial Literacy Month and to kick off the first day of April, we invite you to share how you elevate or enhance the financial literacy of key stakeholders in your organization? 🤔
Perhaps you could share the learnings of when you implemented Vena in your organization, or how you taught team leads on the importance of the budgeting process and how to set up their budgets. Whatever it is, we'd love to hear the learnings, tips and best practices you've gained.
And to make this extra exciting, a few lucky members could be featured and credited in one of Vena's upcoming blog posts! With a readership of over 18,000 per month, position yourself as a thought leader among your peers. 👀
Looking forward to hearing from everyone! And good luck! 🌱
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Irene Tang
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