Vena, the Complete Planning platform loved by finance and trusted by business, today announced its new FP&A technology partnership with the Kansas City Chiefs. The partnership between Vena and the Chiefs has created a winning formula for digital, finance-led transformation in the sports and entertainment industry.
Professional sports has undergone significant changes over the past 12 months, and organizations face challenges never experienced before in the industry. With the disruption of ticket sales, concessions, and more, sports organizations needed to quickly pivot and learn how to report outside traditional revenue streams. These sudden changes to the marketplace have required agile planning from finance, strategy, and analytics teams to drive informed business decisions and uncover new revenue opportunities.
This first-of-its-kind partnership brings together the expertise of the Kansas City Chiefs and Vena’s Growth Engine’s power to create a business planning center of excellence for finance and operations in professional sports and entertainment. Using Vena’s technology and built on the Chiefs’ industry best practices, Vena is delivering a Finance-Led Planning solution purpose-built to help organizations in the industry better meet the challenges of today and tomorrow. Using Vena’s platform and guided by the Chiefs’ industry leadership, organizations can streamline key revenue planning and operational processes, conduct more in-depth reporting and analysis and drive innovation with the office of finance leading the way as a more strategic business partner.
Dan Crumb, Chief Financial Officer at Kansas City Chiefs, said, “Vena revolutionized how we look at financial information. We look forward to our continued collaboration with Vena through this partnership and the opportunity to provide the best-in-class systems, processes, and planning resources to financial decision-makers in professional sports and entertainment.”
Working with Vena, the Kansas City Chiefs were able to gain efficiencies through new use cases, including detailed revenue planning, player salary planning, box office reporting, executive reporting, sales compensation and sponsorship, and more. For the Chiefs, increasing time efficiency was critical, and Vena was able to help box office reporting go from three hours to five minutes. In a year that saw an unexpected and dramatic shift from in-person to remote work, Vena made it easier for the Chiefs to transition and ultimately helped them be more efficient.
“We’re proud to have helped the Kansas City Chiefs—our customer of two years and now a partner—drive significant change and enable innovation within their organization,” said Hunter Madeley, CEO at Vena. “Our partnership with the Chiefs will allow us to better serve customers in professional sports and entertainment with a best-in-class solution tailor-made to meet their needs and power their plan to grow.”
Crumb added, “Vena provided a solution that consolidated multiple tools for budgeting, revenue forecasting, and reporting. We now have greater financial visibility and accountability while empowering departments to review and provide continuous feedback. Vena was able to understand our unique business needs and create templates and workflows that make the budgeting, forecasting, and reporting processes extremely efficient.”
Vena customers and finance leaders across the industry will have the opportunity to learn more about how the Kansas City Chiefs have built a winning team on and off the field with upcoming talks and live and interactive digital events at plantogrow.com.
