Vena Recognized as a Leader With Outstanding Overall Rating in 2025–2026 Performance Management Vendor Landscape Matrix from BPM Partners
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TORONTO — Vena, the only Complete FP&A platform powered by agentic AI and purpose-built to fully amplify the Microsoft technology ecosystem, today shared its eight total Outstanding and Excellent rankings in the new 2025–2026 Performance Management Vendor Landscape Matrix (VLM) produced by BPM Partners, the leading independent authority on business performance management. Vena was ranked as an all-around Outstanding provider, the highest possible ranking, with a score of 4.69 out of 5, signaling its ongoing success in providing customers with a holistic financial planning solution that meets their needs.
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In addition to its overall ranking, Vena was a Top-rated provider in the Budgeting and Planning and Customer Support categories with scores of 4.85 and 4.62 respectively, well above competitors in both categories. The company also earned Excellent rankings in the following five categories: Performance and Scalability, Financial Reporting, Financial Consolidation, Finance Self-Sufficiency and Ease of Use.
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The VLM found Vena's key strengths to be its intuitive interface, the platform's flexibility, the low total cost of ownership and its integrated business planning and AI-powered capabilities.
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In BPM's report, 73% of survey respondents ranked the use of AI in CPM as either important or very important, showcasing Vena's future-forward focus and emphasis on providing customers solutions that integrate with the platforms they already know and trust. Vena is leading the way in FP&A with its agentic AI deployments and integrations, including industry-first reporting and analytics agents as well as Vena Copilot for Microsoft Teams, an integration that brings these powerful tools directly into business workflows and collaborations.
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'Our VLM score jumped from 4.54 last year to 4.69 this year—concrete proof that Vena's AI-powered, customer-oriented approach is resonating more than ever with customers around the world,' said Hugh Cumming, CTO of Vena. 'We are particularly honored by the continued recognition for our integration capabilities. During times of volatility, a business needs better information flow and increased agility. Vena's integration and AI features help finance teams make more strategic decisions faster.'
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Finance teams are facing more pressure to provide fast and accurate information, reflected in 67% of VLM respondents saying pre-built templates were important or very important to them when evaluating a vendor's platform. In addition to its native integration with the Microsoft technology ecosystem, Vena offers a quick startup time and easy adoption no matter the industry, thanks to its robust library of 50+ pre-built templates that include everything from Power BI dashboards to employee growth kits.
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'The VLM is an invaluable tool for anyone looking to purchase, upgrade or replace a performance management system,' said Craig Schiff, President and CEO of BPM Partners. 'We currently track more than 50 vendors that provide software to address one or more aspects of business performance management and related business intelligence. Only the most active vendors competing for and successfully delivering BPM solutions are included in the VLM report, and Vena is certainly making its mark.'
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From high-growth startups to global enterprises, finance and operations teams are turning to Vena to unify their planning in a single platform that's fast to deploy, flexible to use and powered by the tools finance teams already trust—Excel, Power BI, Teams and more. With agentic AI, real-time analytics and a seamless Microsoft-native user experience, Vena empowers finance leaders to go beyond the numbers and make confident, insight-driven decisions that move their business forward. To learn how companies are planning with confidence using Vena, visit our Customer Stories.
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To download a copy of the 2025–2026 Performance Management Vendor Landscape Matrix (VLM) report produced by BPM Partners, click here. About Vena Vena is the only agentic AI-powered FP&A platform purpose-built to harness the full power of the Microsoft technology ecosystem for finance teams everywhere. Vena amplifies Microsoft's world-leading productivity tools, cloud technology and AI innovation to make FP&A, operational planning and adjacent strategic processes more flexible, efficient and intelligent. Thousands of the world's leading companies rely on Vena to power their planning. For more information, visit venasolutions.com.
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Participants may access the call by dialing +1-800-717-1738 Conference ID: 28135 or via For those unable to participate on the live call, a podcast and copy of the slides will be archived for download at Interested parties may also access a replay of the call by dialing +1-888-660-6264 Passcode: 28135, until August 30, 2025. About CGI Founded in 1976, CGI is among the largest independent IT and business consulting services firms in the world. With 93,000 consultants and professionals across the globe, CGI delivers an end-to-end portfolio of capabilities, from strategic IT and business consulting to systems integration, managed IT and business process services and intellectual property solutions. CGI works with clients through a local relationship model complemented by a global delivery network that helps clients digitally transform their organizations and accelerate results. CGI Fiscal 2024 reported revenue is $14.68 billion and CGI shares are listed on the TSX (GIB.A) and the NYSE (GIB). Learn more at Forward-looking information and statements This press release contains "forward-looking information" within the meaning of Canadian securities laws and "forward-looking statements" within the meaning of the United States Private Securities Litigation Reform Act of 1995 and other applicable United States safe harbours. All such forward-looking information and statements are made and disclosed in reliance upon the safe harbour provisions of applicable Canadian and United States securities laws. Forward-looking information and statements include all information and statements regarding CGI's intentions, plans, expectations, beliefs, objectives, future performance, and strategy, as well as any other information or statements that relate to future events or circumstances and which do not directly and exclusively relate to historical facts. Forward-looking information and statements often but not always use words such as "believe", "estimate", "expect", "intend", "anticipate", "foresee", "plan", "predict", "project", "aim", "seek", "strive", "potential", "continue", "target", "may", "might", "could", "should", and similar expressions and variations thereof. These information and statements are based on our perception of historic trends, current conditions and expected future developments, as well as other assumptions, both general and specific, that we believe are appropriate in the circumstances. Such information and statements are, however, by their very nature, subject to inherent risks and uncertainties, of which many are beyond the control of CGI, and which give rise to the possibility that actual results could differ materially from our expectations expressed in, or implied by, such forward-looking information or forward-looking statements. These risks and uncertainties include but are not restricted to: risks related to the market such as the level of business activity of our clients, which is affected by economic and political conditions, additional external risks (such as pandemics, armed conflict, climate-related issues, inflation, tariffs and/or trade wars) and our ability to negotiate new contracts; risks related to our industry such as competition and our ability to develop and expand our services to address emerging business demands and technology trends (such as artificial intelligence), to penetrate new markets, and to protect our intellectual property rights; risks related to our business such as risks associated with our growth strategy, including the integration of new operations, financial and operational risks inherent in worldwide operations, legal and operational risks inherent in contracting with government clients, foreign exchange risks, income tax laws and other tax programs, the termination, modification, delay or suspension of our contractual agreements, our expectations regarding future revenue resulting from bookings and backlog, our ability to attract and retain qualified employees, to negotiate favourable contractual terms, to deliver our services and to collect receivables, to disclose, manage and implement environmental, social and governance (ESG) initiatives and standards, and to achieve ESG commitments and targets, including without limitation, our commitment to net-zero carbon emissions, as well as the reputational and financial risks attendant to cybersecurity breaches and other incidents, including through the use of artificial intelligence, and financial risks such as liquidity needs and requirements, maintenance of financial ratios, our ability to declare and pay dividends, interest rate fluctuations and changes in creditworthiness and credit ratings; as well as other risks identified or incorporated by reference in this press release, in CGI's annual and quarterly MD&A and in other documents that we make public, including our filings with the Canadian Securities Administrators (on SEDAR+ at and the U.S. Securities and Exchange Commission (on EDGAR at Unless otherwise stated, the forward-looking information and statements contained in this press release are made as of the date hereof and CGI disclaims any intention or obligation to publicly update or revise any forward-looking information or forward-looking statements, whether as a result of new information, future events or otherwise, except as required by applicable law. While we believe that our assumptions on which these forward-looking information and forward-looking statements are based were reasonable as at the date of this press release, readers are cautioned not to place undue reliance on these forward-looking information or statements. Furthermore, readers are reminded that forward-looking information and statements are presented for the sole purpose of assisting investors and others in understanding our objectives, strategic priorities and business outlook as well as our anticipated operating environment. Readers are cautioned that such information may not be appropriate for other purposes. Further information on the risks that could cause our actual results to differ significantly from our current expectations may be found in the section titled Risk Environment of CGI's annual and quarterly MD&A, which is incorporated by reference in this cautionary statement. We also caution readers that the above-mentioned risks and the risks disclosed in CGI's annual and quarterly MD&A and other documents and filings are not the only ones that could affect us. Additional risks and uncertainties not currently known to us or that we currently deem to be immaterial could also have a material adverse effect on our financial position, financial performance, cash flows, business or reputation. Non-GAAP and other key performance measures Non-GAAP financial measures and ratios used in this press release: Constant currency revenue growth, adjusted earnings before interest and taxes, adjusted earnings before interest and taxes margin, adjusted net earnings, adjusted net earnings margin, adjusted diluted EPS, net debt, net debt to capitalization ratio, and return on invested capital (ROIC). CGI reports its financial results in accordance with IFRS Accounting Standards. However, management believes that these non-GAAP measures provide useful information to investors regarding the company's financial condition and results of operations as they provide additional measures of its performance. These measures do not have any standardized meaning prescribed by IFRS Accounting Standards and are therefore unlikely to be comparable to similar measures presented by other issuers and should be considered as supplemental in nature and not as a substitute for the related financial information prepared in accordance with IFRS Accounting Standards. Key performance measures used in this press release: cash provided by operating activities as a percentage of revenue, bookings, book-to-bill ratio, backlog, days sales outstanding (DSO), earnings before income taxes margin, and net earnings margin. Below are reconciliations to the most comparable IFRS Accounting Standards financial measures and ratios, as applicable. The descriptions of these non-GAAP measures and ratios and other key performance measures can be found on pages 3, 4, 5 and 6 of our Q3-F2025 MD&A which is posted on CGI's website, and filed with the Canadian Securities Administrators on SEDAR+ at and the U.S. Securities and Exchange Commission on EDGAR at Reconciliation between earnings before income taxes and adjusted earnings before interest and taxes. For the three months ended June 30, For the nine months ended June 30, 2025 % of revenue 2024 % of revenue 2025 % of revenue 2024 % of revenue In thousands of CAD except for percentage and shares data Earnings before income taxes 551,587 13.5 % 593,967 16.2 % 1,725,949 14.5 % 1,698,539 15.4 % Plus the following items: Restructuring, acquisition and related integration costs 83,695 2.0 % 100 — % 163,471 1.4 % 93,486 0.8 % Restructuring 45,547 1.1 % — — % 98,000 0.8 % — — % Cost Optimization Program — — % — — % — — % 91,063 0.8 % Acquisition and related integration costs 38,148 0.9 % 100 — % 65,471 0.6 % 2,423 — % Net finance costs 30,861 0.8 % 8,765 0.2 % 54,104 0.5 % 23,495 0.2 % Adjusted earnings before interest and taxes 666,143 16.3 % 602,832 16.4 % 1,943,524 16.3 % 1,815,520 16.5 % Adjusted Net Earnings and Earnings per Share For the three months ended June 30, For the nine months ended June 30, 2025 2024 Change 2025 2024 Change In thousands of CAD except for percentage and shares data Earnings before income taxes 551,587 593,967 (7.1 %) 1,725,949 1,698,539 1.6 % Add back: Restructuring, acquisition and related integration costs 83,695 100 163,471 93,486 Restructuring 45,547 — 98,000 — Cost Optimization Program — — — 91,063 Acquisition and related integration costs 38,148 100 65,471 2,423 Adjusted earnings before income taxes 635,282 594,067 6.9 % 1,889,420 1,792,025 5.4 % Income tax expense 142,975 153,843 (7.1 %) 449,019 441,747 1.6 % Effective tax rate 25.9 % 25.9 % 26.0 % 26.0 % Add back: Tax deduction on restructuring, acquisition and related integration costs 22,199 22 40,620 23,440 Impact on effective tax rate 0.1 % — % (0.1 %) — % Tax deduction on restructuring 12,397 — 26,741 — Impact on effective tax rate 0.1 % — % 0.1 % — % Tax deduction on Cost Optimization Program — — — 22,956 Impact on effective tax rate — % — % — % — % Tax deduction on acquisition and related integration costs 9,802 22 13,879 484 Impact on effective tax rate — % — % (0.2 %) — % Adjusted income tax expense 165,174 153,865 7.3 % 489,639 465,187 5.3 % Adjusted effective tax rate 26.0 % 25.9 % 25.9 % 26.0 % Adjusted net earnings 470,108 440,202 6.8 % 1,399,781 1,326,838 5.5 % Adjusted net earnings margin 11.5 % 12.0 % 11.8 % 12.0 % Weighted average number of shares outstanding Class A subordinate voting shares and Class B shares (multiple voting) (basic) 221,781,407 227,154,246 (2.4 %) 223,752,383 229,023,242 (2.3 %) Class A subordinate voting shares and Class B shares (multiple voting) (diluted) 224,356,551 230,540,966 (2.7 %) 226,568,058 232,607,988 (2.6 %) Adjusted earnings per share (in dollars) Basic 2.12 1.94 9.3 % 6.26 5.79 8.1 % Diluted 2.10 1.91 9.9 % 6.18 5.70 8.4 % Reconciliation between long-term debt and lease liabilities and net debt As at June 30, 2025 2024 In thousands of CAD except for percentages Reconciliation between long-term debt and lease liabilities 1 and net debt: Long-term debt and lease liabilities 1 4,244,106 3,045,603 Minus the following items: Cash and cash equivalents 1,130,220 1,155,400 Short-term investments 4,568 3,277 Long-term investments 27,676 23,840 Fair value of foreign currency derivative financial instruments related to debt (34,154) 9,125 Net debt 3,115,796 1,853,961 Net debt to capitalization ratio 23.4 % 17.2 % Return on invested capital 14.6 % 16.1 % Days sales outstanding 43 42 1 As at June 30, 2025, long-term debt and lease liabilities were $3,575.2 million ($2,437.5 million as at June 30, 2024) and $668.9 million ($608.1 million as at June 30, 2024), respectively, including their current portions. SOURCE CGI Inc. For more information: Investors: Kevin Linder, Senior Vice-President, Investor Relations [email protected], +1 905-973-8363; Media: Andrée-Anne Pelletier, APR, PRP, Manager, Global Media and Public Relations [email protected], +1 438-468-9118
CTV News
17 minutes ago
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Billionaire Ruby Liu, centre, poses with her staff while holding a set of keys to a former Hudson's Bay-owned Saks Off 5th department store during a "handover ceremony" at Tsawwassen Mills shopping mall that she owns, in Tsawwassen, B.C., on Thursday, June 26, 2025. THE CANADIAN PRESS/Darryl Dyck TORONTO — Hudson's Bay has solidified its faith in a controversial deal to sell leases to a B.C. billionaire by asking a court to force landlords critical of her to let her move in. A motion filed by the collapsed department store late Tuesday asked the Ontario Superior Court to reassign 25 of its leases to Ruby Liu. Fifteen of the leases cover properties in Ontario, including Fairview Mall, Sherway Garden, Bayshore Shopping Centre and Bramalea City Centre. The remaining 10 are split evenly between Alberta and B.C. and include West Edmonton Mall, CF Market Mall and Guildford Town Centre. The group of leases will cost Liu about $69 million, minus a litany of fees she has to pay as a condition of taking them on, the latest documents show. The Bay thinks Liu should get the leases because the deal will help it repay creditors, offer jobs to former Bay employees and fill vacant properties so landlords avoid 'the visual and economic blight of a 'dark' or empty store for a significantly prolonged period.' If landlords aren't forced to accept Liu, the company warns 'significant benefits and value creation … will be lost' and it will have to turn its former stores back over to landlords. The filing sets up the Bay for a fight that will pit it against some of the country's most prominent landlords, including Cadillac Fairview, Oxford Properties and Primaris. If it wins, Liu estimates the retailer will make a $50 million dent in the roughly $1.1 billion in debt it had when it filed for creditor protection in March. That process led the Bay to close all of its stores and start soliciting buyers for its leases. One dozen bidders made offers for 39 properties. Liu was designated the winner of the bulk of them. The Vancouver-based entrepreneur made her fortune in Chinese real estate and owns three B.C. malls, including the Woodgrove Centre and Mayfair Shopping Centre, which she is willing to sell to advance her push for the Bay leases. Liu inked two deals to buy a collective 28 leases that belonged to the Bay and its sister Saks stores in May. The first deal – for three leases at malls Liu owns – sailed through court with no opposition. The second became fraught shortly after it was announced, when landlords began meeting with Liu and found she had little information to share about her bid to open a new department store named after herself and replete with retail, dining, entertainment and recreational spaces. A package Liu sent landlords in early June, which was obtained by The Canadian Press, showed she thought she was capable of opening up to 20 stores within just 180 days of signing leases. It offered a vague financial budget and mentioned hiring efforts and meetings with prospective suppliers but did not name the potential vendors. Court records filed on Tuesday showed the initial package and meetings with Liu left Cadillac Fairview 'with the strong impression that Ms. Liu is making this up as she goes.' Primaris REIT felt her plans were 'predicated upon hope, optimism and not on experience.' New plans filed alongside the Bay's motion show Liu has taken another stab at a business roadmap. This time around she's budgeting $375 million for her venture and is looking at opening three tiers -- flagship, platinum and standard -- of a new, self-named department store. Though she has spoken repeatedly about putting dining, entertainment and recreational spaces into her stores, she promises to take on the leases 'as is.' 'Much has been made of my public comments around the retail concepts that I believe may appeal to modern shoppers,' Liu writes. 'However, this should not be taken as any intention to ignore the terms of the lease.' Liu says $120 million will be invested on 'overdue' repairs to roofs, HVAC systems, washrooms, elevators and escalators and $135 million on initial inventory. She projects her plan will create at least 1,800 new jobs and by 2027, generate more than $420 million in annual sales. Despite the landlords' opposition to the assignment of the leases to Liu, she says she is 'confident that my growing team (which will include former HBC executives) will be able to build fruitful and lasting relationships with them and their communities.' Liu's filing was made after 50 pages she sent to judge Peter Osborne – against the Bay's advice – were entered into the court record. They included two notes to Osborne sent a day apart that were appended with letters the Bay's lawyers and landlord lawyers sent to her and her counsel. The records show the Bay's lawyers heeded early criticism from landlords and started pressing Liu to prepare a more in-depth plan. They urged Liu to hire the retailer's former CEO Liz Rodbell as a consultant and KPMG as a financial adviser and bring back Miller Thomson as legal representation and offered to shave $3 million off the price of the leases, if she did so. The new business plan Liu filed Tuesday makes no mention of Rodbell or Miller Thomson but lists KPMG as a potential tax adviser and auditor. This report by The Canadian Press was first published July 29, 2025. Tara Deschamps, The Canadian Press
