Case Study: Tanger Factory Outlet Centers Inc. reduces month-end close time by 50% with Vena Solutions

Tanger Outlets Reduces Month-End Close Time By 50% With Vena

Tanger Outlets, a publicly traded developer of 36 outlet centers, faced slow, error-prone financial close and reporting driven by manual Excel spreadsheets and PDF “dump” reports from their MRI ERP. Complex workflows (up to 179 actions), difficult transaction investigations and lengthy reconciliations made month-end and year-end closes time-consuming—month-end took 10 days and year-end three weeks—forcing staff into long hours and limiting timely decision-making.

By implementing Vena’s Excel-based platform with integrated general ledger data, automated workflow notifications, process audits and audit trails, Tanger eliminated manual checklists and manual MRI report handling. The result: month-end close time was cut in half (10 → 5 days) and year-end shortened to two weeks, users grew from 30 to 145, Michelle reduced weekly hours from 50 to 40, the tax team saved a week per quarter, and executives gained faster occupancy and adjusted EBITDA reporting to support quicker, more informed decisions.

Tanger Factory Outlet Centers Inc.

Michelle Canada

SEC Reporting Manager