What users are saying about

Adaptive Insights

Top Rated
204 Ratings

Vena Solutions

21 Ratings

Adaptive Insights

Top Rated
204 Ratings
Score 8.7 out of 101

Vena Solutions

21 Ratings
Score 8.9 out of 101

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Likelihood to Recommend

Adaptive Insights

It is well suited for mid-size companies to have a budgeting, forecasting, and reporting platform. The system needs data and someone to maintain it so it would not be well suited for a small company or one without a dedicated finance team.
Brian Kyslinger profile photo

Vena Solutions

Vena has use across several business scenarios. We originally started with some basic planning solution to meet our needs and have significantly expanded the scope of our use of the tool into more sophisticated planning and forecasting and into consolidation based on the experience we've had with the tool. We are considering expanding the use of the tool as we see its ability expand beyond what we are currently using it for.
Matthew Blickley profile photo

Feature Rating Comparison

Budgeting, Planning, and Forecasting

Adaptive Insights
8.7
Vena Solutions
8.6
Long-term financial planning
Adaptive Insights
8.9
Vena Solutions
8.6
Financial budgeting
Adaptive Insights
8.9
Vena Solutions
8.8
Forecasting
Adaptive Insights
9.1
Vena Solutions
8.4
Scenario modeling
Adaptive Insights
8.3
Vena Solutions
8.4
Management reporting
Adaptive Insights
8.2
Vena Solutions
8.6

Consolidation and Close

Adaptive Insights
7.5
Vena Solutions
8.6
Financial data consolidation
Adaptive Insights
7.9
Vena Solutions
8.8
Journal entries and reports
Adaptive Insights
5.5
Vena Solutions
8.3
Multi-currency management
Adaptive Insights
7.7
Vena Solutions
8.5
Intercompany Eliminations
Adaptive Insights
7.5
Vena Solutions
8.6
Minority Ownership
Adaptive Insights
7.0
Vena Solutions
9.1
Local and consolidated reporting
Adaptive Insights
8.3
Vena Solutions
8.8
Detailed Audit Trails
Adaptive Insights
8.6
Vena Solutions
8.2

FInancial Reporting and Compliance

Adaptive Insights
8.3
Vena Solutions
8.6
Financial Statement Reporting
Adaptive Insights
9.0
Vena Solutions
8.8
Management Reporting
Adaptive Insights
8.6
Vena Solutions
8.2
Excel-based Reporting
Adaptive Insights
8.5
Vena Solutions
8.8
Automated board and financial reporting
Adaptive Insights
8.5
Vena Solutions
8.6
XBRL support for regulatory filing
Adaptive Insights
6.9
Vena Solutions

Analytics

Adaptive Insights
7.6
Vena Solutions
8.9
Personalized dashboards
Adaptive Insights
7.3
Vena Solutions
8.4
Color-coded scorecards
Adaptive Insights
6.8
Vena Solutions
8.7
KPIs
Adaptive Insights
8.0
Vena Solutions
9.1
Cost and profitability analysis
Adaptive Insights
8.1
Vena Solutions
8.8
Key Performance Indicator setting
Adaptive Insights
8.1
Vena Solutions
9.1
Benchmarking with external data
Adaptive Insights
7.3
Vena Solutions
9.1

Integration

Adaptive Insights
8.6
Vena Solutions
8.2
Flat file integration
Adaptive Insights
8.4
Vena Solutions
8.2
Excel data integration
Adaptive Insights
8.8
Vena Solutions
8.4
Direct links to 3rd-party data sources
Adaptive Insights
8.7
Vena Solutions
8.1

Pros

  • Allows assumptions to be created for fringes, taxes, capital etc. We are now able to push these type of expenses to individual departments as opposed to a single department. Gives us true costs for each department.
  • The flexibility in revising and creating new sheets allows our organization to modify our budget/forecast approach without much downtime. Also, we can make these modifications internally . No need to hire consultants to complete these tasks.
  • Adaptive Insights is an easy to use/understand tool for end-users. Our users typically struggle with new systems but the Adaptive roll-out was very smooth with very little end-user angst.
Gary Grzesiak profile photo
  • Flexibility - Vena is incredibly flexible for a changing business environment. The user interface allows the data model to be adjusted to meet the changing needs of thee business. In addition, the ability to create reports and templates and manipulate data is incredibly easy. It has helped us get to insights through analytics much quicker than we have been able to before.
  • Performance - Vena's speed reliability is great. We have several data sources and allocations/calculations we preform in the tool that require a lot of data and power and the tool's ability has not disappointed. One of the projects we implemented required data files with data files that were very large and Vena's performance is top notch.
  • User Acceptance / Adoption - The user interface of native Excel allows for widespread adoption of the tool across a large user base. Because the tool uses a software that nearly everyone in the business world is comfortable with, adopting the tool is easy. By placing a database on top of Excel is nearly invisible to the users of the product, it provides the value of real-time data availability in a comfortable interface.
Matthew Blickley profile photo

Cons

  • The format of reports when downloaded to Excel or PowerPoint could use improvement.
  • Would be nice if you could inactivate GL accounts when they are no longer being used.
  • Suppress rows functionality when set by the administrator to default to suppress if not data doesn't always seem to work.
Gary Grzesiak profile photo
  • Option to indicate to a manager when a template is open by contributor (or block save for a manager, if a contributor has it open). Currently, simultaneous access by two contributors is restricted, because until the file is checked in by one, edits by the other will not be possible. However, a manager can open the template that is already open by a contributor and modify it at the same time. This may lead to save conflicts and unwanted changes. It would be nice to have some sort of an indication for a manager that the template is being used by a contributor (and vice versa, too – that way a contributor would know to contact the manager if he/she is opening the template that is currently open in the manager’s view)
  • Option to add/remove users to processes that are currently active, to grant on-the-fly permission to view current tasks – i.e., it would be nice to modify access irrespective of the process status. My understanding is that this option has already been implemented in later Cloud versions (our company is currently using OnSite version).
  • When tracing mapped data – ability to focus on the source cell, as opposed to just highlighting it (currently the cell is being highlighted, but it can be in any of the worksheets in the source file and needs to be manually located).
Teymur Mammadov, CPA, CA, FCCA (UK) profile photo

Likelihood to Renew

Adaptive Insights8.5
Based on 32 answers
We have renewed this a number of times. It fits our business model and it is now an integral part of our organization.
Harry Vasels profile photo
Vena Solutions9.1
Based on 1 answer
We have been extremely satisfied with the Vena Solutions product and have been able to become more efficient in our budgeting, forecasting and salary planning processes, as well as adding functionality and accuracy that was not possible in the past. Administrators no longer have to keep track manually of each department's budgeted net, but can use a report created in Vena to report this information, as well as see which departments have not yet submitted information. Customer service has always been very responsive as well
Lori Lambert profile photo

Usability

Adaptive Insights7.7
Based on 75 answers
Adaptive Insights is incredibly easy to use! OfficeConnect makes creating and updating financial reports a breeze!
Denise Lewis profile photo
Vena Solutions9.1
Based on 1 answer
One is only limited by their knowledge of Excel functions and basic understanding of database management. One does not need to know VBA, VB, C++ or even SQL.
Megan Bladen-Blinkoff profile photo

Reliability and Availability

Adaptive Insights9.1
Based on 9 answers
Cloud-based allows for access anywhere. Very little downtime.
Andrew Rosenberg profile photo
No score
No answers yet
No answers on this topic

Performance

Adaptive Insights9.1
Based on 4 answers
Product performs well when making and saving changes and navigating between pages within the application
Andrew Rosenberg profile photo
No score
No answers yet
No answers on this topic

Support

Adaptive Insights6.8
Based on 11 answers
Support requests are always handled promptly and resolved favourably.Many user support requests arise during initial deployment and use and often represent questions relating to best methods or how to approach their particular situation, which we gladly assist with as we provide the appropriate skills transfer training and assistance.As clients become more knowledgeable in working with the product suite then they tend not to ask many questions.
Greg Clarke profile photo
Vena Solutions8.2
Based on 1 answer
Customer support has been very prompt for both bug fixes and data loading. Enhancement requests have taken a bit longer to implement, but are within what we would consider a normal time frame compared to other software we use. I rarely have to wait long for an issue to be resolved
Lori Lambert profile photo

Online Training

Adaptive Insights8.2
Based on 6 answers
Training receives the highest rating due to the availability of Webex training from an expert at Adaptive, with several sessions tailored to specific features including personnel, capital, formulas, reporting, etc
Andrew Rosenberg profile photo
No score
No answers yet
No answers on this topic

Implementation

Adaptive Insights8.2
Based on 13 answers
Although having a set of spreadsheet and workbooks helps to define the logic and processes, preparing a requirements document is also an important element in a successful implementation. In addition, dedicating a knowledgeable user as part of the "Scrum" development allows focus and permits the implementation to proceed without time loss and promotes knowledge transfer. Finally, having an onsite developer speeds the process and can reduce the overall cost as well.
Bob Katz, CMA, CFM, CFP® profile photo
Vena Solutions9.1
Based on 1 answer
The Vena consultant had great knowledge of both the Vena solution and Excel and Excel functions. He was able to help suggest ways to build our templates that met our requirements using Excel functions we had not previously considered using. And we have been able to use the Excel information he provided in other ways outside of Vena. He was very patient and flexible as we learned the Vena tool and created templates
Lori Lambert profile photo

Breadth of Deployment

It is used throughout the company in different divisions and at our corporate level. When used in a division recently the personnel from different departments directly inputted data and monitored their budget against actual. It is very user friendly and flexible.
Harry Vasels profile photo
No answers on this topic

Alternatives Considered

To be honest - Host Analytics seemed relatively similar to Adaptive. However, Adaptive was our number one choice because:- The Adaptive suite looked a lot better. It seemed smarter and "sharper" and the data visualisation was better.- The people from Adaptive throughout the selection process were more helpful and insightful. This was confirmed throughout the implementation where we had really excellent service and help from Adaptive.
Andy Clifton profile photo
Vena is easier to use than Prophix but Prophix has a personnel module and more flexible ad-hoc reporting capabilities.
No photo available

Collaboration and Sharing

Adaptive Insights7.5
Based on 17 answers
This is one of the best features as personnel in different areas at different sites can work together on the budget, forecast or "what-if" models.
Harry Vasels profile photo
No score
No answers yet
No answers on this topic

Data Integration

Adaptive Insights7.6
Based on 17 answers
We have used Adaptive for years and it works well as we adapt to changing business scenarios. We can make changes and see potential impacts to our business before they occur.
Harry Vasels profile photo
No score
No answers yet
No answers on this topic

Scalability

Adaptive Insights9.1
Based on 7 answers
Adaptive is the leader and is very progressive with the product improvements that they provide.
Gary Sabulski profile photo
No score
No answers yet
No answers on this topic

Return on Investment

  • The most positive impact has been on time. While it took some time to get things set up correctly, once we did, we were able to report results very quickly.
  • The budgeting process has gone much more quickly.
  • What-if scenarios are a little trickier. There are multiple ways you can do it. We have chosen to use assumptions for percentages and then copy the original version to a "what-if" version and change the assumption it is pointing to. However, this is a bit clunky.
  • Month-end reporting is getting faster and faster the more we automate through Adaptive.
Amy Kee, CPA profile photo
  • Vena provided a quick and affordable solution to gather inputs and generate the xml required for the FR-14A. Other solutions required much longer lead times to implement, much more IT support, and were much less flexible.
No photo available

Pricing Details

Adaptive Insights

General
Free Trial
Yes
Free/Freemium Version
Premium Consulting/Integration Services
Yes
Entry-level set up fee?
Optional
1.  per seat, per installation
Additional Pricing Details

Adaptive Insights More Information

Vena Solutions

General
Free Trial
Free/Freemium Version
Premium Consulting/Integration Services
Yes
Entry-level set up fee?
Required
$0*
1.  per user
Additional Pricing Details

Vena Solutions More Information