® Copyright Vena Solutions Inc. 1 ® Copyright Vena TM ACCOUNT RECONCILIATIONS: CLEARING THE BOTTLENECK IN YOUR FINANCIAL CLOSE Presenters: Rishi Grover President, Vena Solutions 10 EASY TIPS TO MAKE YOUR ACCOUNT RECONCILIATIONS MORE EFFICIENT Yanky Li Financial Close Solutions Lead, Vena Solutions

® Copyright Vena Solutions Inc. RISHI GROVER As President, Rishi is responsible for the day-to- day operations and continued success of client implementations at Vena. Rishi has helped multiple Fortune 500 companies re-engineer and optimize financial processes including: -Financial Close -Budgeting, Planning and Forecasting -Regulatory Reporting -Financial Reporting and Analysis 2 President & SVP Solutions Engineering YANKY LI -CPA, CMA, CPA (AUS), PMP As our Financial Close Solutions Lead, Yanky is responsible for the success of our clients as it relates to automating and streamlining their financial close processes. Yanky has years of industry experience implementing projects including: -Financial Planning, Financial Close -Industries Include: Manufacturing, Energy, Cooperatives, Non Profit and Project Based Accounting Projects Financial Close Solutions Lead

® Copyright Vena Solutions Inc. AGENDA 3 Vena Solutions Introduction Quick Overview of Manual Account Reconciliation Headaches Top 10 Tips for Efficient Account Reconciliations Looking to Automate? A Vendor/Technology Checklist Vena Technology Overview Vena for Account Reconciliation Product Demonstration

® Copyright Vena Solutions Inc. VENA. THE WAY YOU THINK. 4 Created to make businesses work smarter, Vena uses a surprisingly convenient approach to simplify complex business processes.

G/L Sub-Ledgers Other Systems Cons: Data integrity issues No source system integration Manual consolidations Lack of audit-ability No process management Source Data Numerous s and versions of each document Account Rec Activities Review and Approval Manually extract data & re-key into spreadsheets MANUAL CURRENT PROCESS Manual upload to G/L ® Copyright Vena Solutions Inc.

TOP 10 TIPS FOR EFFICIENT ACCOUNT RECONCILIATIONS 6

® Copyright Vena Solutions Inc. 7 TIP 1 HAVE INSTRUCTIONS INCLUDED Separate worksheet Clear instructions

® Copyright Vena Solutions Inc. 8 TIP 2 INCLUDE CHECKLISTS Separate worksheet Simple YES/NO dropdowns

® Copyright Vena Solutions Inc. 9 STANDARDIZE FORMATTING THEME Goals Modern designs User-friendly experience Relevant data analysis Visualizations to make data “pop” Consistency across all reports 3 Philosophies Guide the User Less is More (Effective, Attractive, Impactful) Turn Data into Information TIP 3

® Copyright Vena Solutions Inc. 10 TIP 4 ‘STRUCTURE-IZE’ YOUR TEMPLATES Consistent worksheet layout and order Standard layout of rows and columns

® Copyright Vena Solutions Inc. 11 TIP 5 INCLUDE PRIOR MONTH RECS Worksheet dedicated for prior month data. Locked down.

® Copyright Vena Solutions Inc. Save trees Develop a schedule and workflow structure Summary reporting Controls, controls, controls Be audit ready 12 TIPS 6 THROUGH 10

® Copyright Vena Solutions Inc. FINDING THE IDEAL SOLUTION A CHECKLIST FOR VENDORS, TECHNOLOGIES 13

FeatureBenefit Process automation & rolloverAutomate user assignments and workflow Integration to source dataNo need to re-key data FeatureBenefit Integration to source dataLatest, accurate data Business rulesNumbers always tie-out WorkflowReview & electronic sign-off Data Integrity Increased confidence in the results Start reviewing the data sooner FeatureBenefit MS-Excel integratedTo ensure the highest end user adoption Workflow controls access throughout the process Users only see data when they are allowed to see it Access to information is controlled FeatureBenefit Compliance checklistsTo ensure that the right steps are being followed Audit trailTo track who did what, and when they did it Compliance information always available Clarity FSR Reduces the Risks Accelerated Close Security & Collaboration Control & Auditing A VENDOR TECHNOLOGY CHECKLIST ® Copyright Vena Solutions Inc.

THE VENA SOLUTION 15 Vena is a unified enterprise solution that leverages a company’s investment in Excel while eliminating the inherent risks of an uncontrolled spreadsheet environment. Supported Processes: Account Reconciliations Consolidations Tax Provisioning Planning & Budgeting Financial Reporting & Analysis Regulatory Reporting & Disclosure Management Extended Financial & Accounting Processes Any spreadsheet-intensive business process

Upload to G/L (if required) Automated Data Extraction Results Collaboration Complete visibility Highly efficient process Reduced risk of errors Automatic rollover to next period Process Automation & Workflow Electronic Sign-off Status Dashboard Notifications Leverage Excel > Template-ize Source System Integration Business Rules & Audit Trail Reporting & Analytics G/L Sub-Ledgers Other Systems Source Data Vena Database HOW VENA WORKS ® Copyright Vena Solutions Inc.

QUICK DEMO: VENA FOR ACCOUNT RECONCILIATIONS ENTERPRISE-CLASS EXCEL 17

® Copyright Vena Solutions Inc. THANK YOU!