Case Study: First Majestic Silver Corp. achieves 50% faster budgeting and data-driven scenario modeling with Vena Solutions

With Budgets Done 50% Faster in Vena, First Majestic Silver Can Focus on Business Growth

First Majestic Silver, a leading North American silver producer with multiple operating mines in Mexico, struggled with a fragmented, 256-tab Excel budgeting process that left controllers sending conflicting files, creating data integrity issues and a three-month cycle spent compiling rather than analyzing budgets—making it hard to plan capital investments or respond quickly to market changes.

By implementing Vena for its native Excel interface and finance-owned flexibility, First Majestic consolidated planning into a single system, automated templates and enabled on‑demand what‑if scenario modeling. The result: budget preparation time was cut by 50% (from three months to six weeks), one source of truth and greater cross‑functional accountability, and faster, data-driven investment decisions—stakeholders can now pull detailed profitability reports at the push of a button.

First Majestic Silver Corp.

Mani Alkhafaji

VP of Business Planning and Procurement