TORONTO, Ontario and DENVER, Oct. 31, 2014 (GLOBE NEWSWIRE) -- via PRWEB - Today, regulatory bodies are placing as much scrutiny on the process of data collection and financial reporting as they do on the results. However, while the need for transparent communication and accurate data are more critical than ever, companies are still struggling to produce reports without experiencing a significant organization burden.
Vena Solutions, an industry recognized provider of cloud-based corporate performance management (CPM) software, is pleased to announce its partnership with Rivet Software, an industry leader in disclosure management that simplifies financial reporting by improving data security and process transparency.
Together, the two companies provide an end-to-end solution that streamlines and mitigates the risks inherent in the financial reporting process.
"Rivet and Vena are both deeply invested in making financial reporting as easy and stress-free as possible," explains Don Mal, CEO of Vena Solutions. "Our shared mission is to automate data collection, distribution, consolidation and validation so that companies can easily and confidently report to the SEC and other regulatory bodies without significantly disrupting their regular business cycles."
"The Rivet-Vena solution eliminates the need for report contributors, approvers, or reviewers to copy and paste or export data between applications," notes TJ Tanberg, vice president of sales for Rivet. "This allows organizations to create reports in a fraction of time, and drastically reduces the possibility of user errors."
The joint approach to reporting will enable both internal and external reporting groups to efficiently collect and consolidate data using Vena. The data will automatically be fed into Rivet's "Crossfire" application, which will allow reporting teams to use Microsoft Word to automate the roll-forward process for disclosure documents.
XBRL and EDGAR HTML packages can be created and filed directly from within Crossfire. Both solutions leverage native Microsoft Excel® as the user interface, feature a central, secure database, and enable reporting in any language (HTML, XBRL, etc.).
ABOUT VENA SOLUTIONS:
Vena Solutions has redefined how companies automate their most mission-critical finance, accounting and business processes. Our platform embraces the best of Microsoft Excel®, extending and evolving its capabilities to create a next-generation enterprise solution that is powerful yet intuitive. Vena is a first-to-market solution that offers the most comprehensive suite of cloud-based corporate performance management (CPM) capabilities with a quick deployment methodology - all without compromising what you love best about Excel.
For more information, visit http://www.venasolutions.com
ABOUT RIVET:
Rivet Software provides financial reporting systems that improve the way companies create and consume financial information. Founded in 2003 by software and accounting industry veterans, Rivet's mission remains to revolutionize global financial communications by enabling financial transparency and leveraging global standards. Headquartered in Denver, CO, the firm employs the most experienced XBRL and financial reporting staff in the industry. Rivet was recently acquired by Equity Administration Solutions, Inc., a market leader in stock administration and FAS123R/ASC718 and SEC compliance reporting solutions.
Visit the website at http://www.rivetsoftware.com.
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