colea is a cloud-based data collection and consolidation platform that replaces spreadsheet-based processes for financial reporting, forecasting, and KPI tracking. It automates data entry, validation, and consolidation while providing real-time submission tracking and Excel-like user interfaces. The platform integrates with BI tools and reduced Omnicom Media Group's forecast cycle time from 15.5 to 7.4 days.
Funding
Funding not disclosed
Founders
Product
Problem
Companies rely on spreadsheet-based processes to collect financial data, forecasts, and KPIs from multiple departments and subsidiaries, which is time-consuming, error-prone, and difficult to audit. Manual preparation of templates, email-based communication, and manual consolidation create bottlenecks that delay decision-making and reduce data quality.
Solution
colea provides an automated, auditable data hub that replaces Excel templates for internal data collection. The platform allows companies to create flexible data entry forms with an Excel-like experience, so users require minimal training. It automates the prepopulation of data entry sheets, tracks submission status in real time, and consolidates data automatically into a multidimensional format. The platform includes a formula engine for complex calculations, managed workflows for re-opening submissions, and seamless integration with BI tools and Excel for data consumption and analysis.
Target Audience
Primary customers are finance teams, controllers, and FP&A professionals in mid-sized to large enterprises that need to collect financial data, forecasts, and KPIs from multiple entities, departments, or subsidiaries.
Features
- Excel-like data entry interface that minimizes user training requirements
- Real-time submission tracking with automated reminder emails for outstanding units
- Flexible form builder with integrated formula engine for complex multi-dimensional calculations
- Automated prepopulation of data entry sheets using scheduled jobs
- Managed workflow features allowing re-opening of submissions when corrections are needed
- Export options to Excel, Tableau, MS Power BI, SAP Analytics Cloud, and other BI systems
- Multidimensional data storage enabling collection at any required level of detail