Budgyt vs. Vena

I'm sure that Budgyt would not be the most appropriate solution for large, complex organizations with numerous entities or overly complicated structures. Those org's likely have solutions within their ERPs or other sophisticated finance systems with budgeting/reporting capabilities that mirror Budgyt, making it redundant. However, for an easy, and relatively cheap solution to meeting those needs, as well as forecasting and analysis, I would recommend Budgyt to anyone with the need.

Incentivized

Vena is very well suited to handle budgeting, forecasting, and reporting. The platform is very flexible, and I have been able to create some great reports that has allowed our team to deepen our analysis of our organization's performance. I also use Vena for other data storage and reporting, such as creating a site code directory for our field staff, developing an invoicing schedule for our AR department, and creating a workbook to facilitate calculating and reporting on our site staff mileage stipends.

Incentivized

• Combining departments (components of an entity or a component of various entity's income statement) or isolating departments (small slivers) of an entity's income statement. We can look at specific departments of specific entities together, with ease.
• Splicing / flipping reports into countless formats. Helpful for users of the financial statements that digest data/numbers differently than the financial accountants who prepare the numbers.
• It is relatively easy to import data from our Jonas accounting program into Budgyt.
• We've had prompt customer service when we've encountered issues and they were readily available during implementation.

Incentivized

• Easy to manage and maintain
• Provides a better end user experience
• Workflows and automatic emails make the budgeting process much easier to manage/complete
• API integrations with important tools such as Power BI, Sage Intacct, and Salesforce
• Easier for Finance to "own" the tool and troubleshoot data issues without having to rely heavily on internal/external Data teams

Incentivized

• Inside setting up HR forumlas, it should give more than one filter criteria.
• Application got slow after putting the information of HR module and formuals, need to speed up.
• Selection of multiple companies with different GLs can be an option where it is lacking.
• Didn't see the multicurrency feature, can be a good add on.

Incentivized

• I have trouble logging into the Zoom meetings and have missed several meetings because of not being able to log in. That is likely due to limits from our IT department and probably not a Vena issue.
• Sometimes I need more of an explanation or can't find the article I need in the Vena knowledge base. Also, some of the explanations leave me more confused about what I need to do to achieve my objective.
• When we implemented Vena, the implementation team created a template for our unallocated lab expenses, but I wasn't able to effectively use it.

Incentivized

Our organization has increased our level of financial reporting and decreased the time it takes to build a budget with the Budgyt platform. Because our budget managers have access, it allows them a higher level of ownership for their areas.

Vena has been a huge win for us as an organization, as it vastly improved our budgeting process by removing manual consolidation that was incredibly time consuming, and it allows us to see a multi-year view of our organizational budget across all of our funding sources. We've seen Vena's platform grow over the years and we've not yet fully adopted some of them so it feels like there's still potential to get even more value out of the platform.

Incentivized

Has the spreadsheet feel without the clunky formulas. Prior years monthly numbers easily visible on the data sheet to compare with. Easily run various reports on the dashboard. Easy to clone/create new scenarios. Custom template to import GL detail the way want to see it. User friendly for non-finance managers to use. Options to add comments on data sheet. Approval process - easy of viewing what needs to be approved.

Incentivized

This is split between usability from an end-user perspective and administrative. Administrative - The tool is lacking in a cohesive way to administer the tool, both from more of a back-end perspective (ETL/Integrations, scripting, etc.) as well as from a business administrative (Processes, Models, etc.). On the more back-end IT related aspects, the tool is a mishmash of modules that were clearly developed in stovepipe fashion. Basic feature/functionality aspects such as version control, auto vs manual save, etc. differ between the code preparation components. It is also lacking in any sort of coherent version control. Not all pages display the context information, so extreme caution must be used. There is also no coherent migration strategy. The process and model navigation has been somewhat challenging for our business administrators, often requiring assistance from Vena when creating or altering templates. 2 of 10 End User - This is better. The Excel add-in generally functions well. Creating basic templates is straightforward, and there is a large degree of flexibility when creating reporting templates. Being part of Excel puts many users into a comfort zone. The toggle switch between template and data mode is not well conceived, and the add-in pop-ups occasionally have issues on multi-monitor displays. 6 of 10

Incentivized

Contact with Vena Solutions technical support is quick and experts in the field always respond. It is not necessary to go through a large form to explain the problems and then answer more questions to receive a direct answer, we simply send a message indicating the specific problem and they are immediately there to actively help us

Incentivized

Vena Solutions pages load quickly and only a few times does it get a bit slow, only when there are many integrations and the reports are long. But in general it is always fast and honestly I am very satisfied with the speed in the generation of statistical reports and the pages

Incentivized

During my first year of working within the budget software, I had to go through some training while trying to meet deadlines for meetings. The team at Budgyt was very accommodating and made sure I was equipped with the knowledge that I needed to be successful

Incentivized

From initiate setup to going live, Vena's customer representatives and technicians have proven to be responsive and enthusiastic in getting our company up and running. They have been patient with our questions and frustrations and worked to troubleshoot issues that have come up.

Incentivized

The original training was onsite and over two weeks. Since our original onboarding the company has come out with a training website to aid in user self directed needs.

Incentivized

The online training was effective, it would be nice to see a more personalized solution. I understand the training is tailored for all industries, but it would be nice to see industry-specific use cases.

We were fortunate to have the founder lead us through a video conference to teach our users how to use the system. Totally invaluable!

Incentivized

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

Forecaster was terrible. We switched from that. We looked at multiple products, either too expensive or not user-friendly. We switched 4 years ago. I do not recall the companies we visited back then. There are certainly more on the market now, but I have no interest in switching as our entire office loves the product.

Incentivized

Vena has better reporting and budgeting functions than NetSuite Budgeting & Reporting when we compared the two. The Kansas City Chiefs currently use Vena and they had nothing but good things to say about it so that gave us confidence to go with Vena.

Incentivized

Budget scenarios are amazing, when it comes to educational funding, were always having to pivot. Having multiple scenarios for financial planning is key to being economically sustainable. We can quickly add services or staffing based upon funding adjustments/projections and see if they will work in our current climate. This supports leaderships ability to make quicker decisions.

Incentivized

We use Vena across 10 countries and 200 users who are located in a wide range of settings and internet reliability. Even with that wide implementation, the most common issue we run into is a new hire not installing the Vena add-in, which is a super quick fix. Depending on our user's location, the internet can sometimes be spotty, but that is outside of Vena's control and even in those settings, Vena might take a little longer to open a template, but it still does open and the user can complete their work. Over 5 years of using Vena, we've collectively only had 3 issues where we needed Vena support to help look at a specific issue a user was having.

Incentivized

• We have had better control on labor cost. The software has helped us project when we need to add new employees to handle our contact center volume.
• Running different budget scenarios helped us navigate the impact of Covid on our business.

• Saved considerable time for monthly close by streamlining reporting and entries
• Saved considerable time and effort for reconciliations by standardizing input and output and ability to send reviews to different users and track completion
• Saved a lot of headache when tracking down variances

Incentivized