Vanguard beat out several formidable competitors with its bid to deliver best-of-breed financial forecasting.
Founded 20 years ago, Event Network has grown into one the largest operators of stores and gift shops for aquariums, museums, science centers, botanical gardens, and other cultural attractions. The company operates stores at nearly 100 major venues in North America, including The Henry Ford Museum, the Georgia Aquarium, the Alamo, and the American Museum of Natural History.
As a third-party retailer, Event Network is responsible for all purchasing, product distribution, operations, and staffing for the retail locations within its partners venues, where they have increased sales considerably at each location. The complexity of managing Stock Keeping Units (SKUs) has also increased as the company has grown and expanded. With that growth came a need to automate processes, as well as to apply more sophisticated analytics.
“We were looking for software that could make forecasting easier, but that could also deliver powerful capabilities,” said Andrea Froehle, VP of Marketing & Communications for Event Network. “Vanguard’s forecasting algorithms really set them apart from all other companies we interviewed.”
Event Network’s finance team will use Vanguard’s cloud platform to forecast revenues, expenses, and cash flows on a rolling basis, as well as to perform what-if testing for better scenario planning.
Froehle says she expects the company will make substantial improvements in financial planning and budgeting, and organization-wide financial performance.
For Vanguard Software, the deal adds not only to its retail client base, but to a solid record of delivering easy-to-use advanced analytics that improve clients’ financial forecasting and planning outcomes.
About Event Network
Event Network is a full-service, third-party retail operator for cultural attractions of all kinds, including aquariums, zoos, museums, gardens, historic sites, and other iconic attractions. With a breadth of experience and passionate retail experts in the fields of product development, purchasing, operations, store environments, visual merchandising, guest service, and retail systems, Event Network is North America’s premier leader in cultural attraction retail.
About Vanguard Software
Vanguard Software introduced its first product for decision support analysis in 1995. Today, companies across every major industry and more than 60 countries rely on Vanguard Software’s Integrated Business Planning (IBP), forecasting, and advanced analytic cloud platform. Vanguard Software is based in Cary, North Carolina.