NetSuite is a suite of ERP and accounting modules which is sold in various editions aimed at different size customers. The multi-country, multi-currency version is an additional module called OneWorld. Netsuite is a SaaS system and is not offered in an on-premise edition.
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Vena
Score 8.5 out of 10
Mid-Size Companies (51-1,000 employees)
Vena Solutions provides a financial process automation solution to automate Corporate Performance Management, accounting and budgeting, Regulatory & Compliance, and other finance-related processes. It is scaled for medium to large-sized organizations.
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Pricing
NetSuite ERP
Vena
Editions & Modules
No answers on this topic
Professional
N/A
Complete
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Offerings
Pricing Offerings
NetSuite ERP
Vena
Free Trial
No
No
Free/Freemium Version
No
No
Premium Consulting/Integration Services
No
Yes
Entry-level Setup Fee
No setup fee
Optional
Additional Details
Users subscribe to NetSuite for an annual license fee. The license is made up of three main components: core platform, optional modules and the number of users. There is also a one-time implementation fee for initial setup. New modules and users and can be added as a business grows.
The Professional Plan is the most flexible way to get started quickly and can be added onto as a company grows. The plan includes: Vena Platform, Customer Success Manager, Standard Support and Customer Portal.
Complete Plan includes everything in Professional, plus: Vena Insights, Premium Support, Sandbox Environment, and Expert Managed Services.
*Vena offers special pricing for not for profit organizations. To learn more, speak to an expert.
I inherited Netsuite from an acquisition. I’m before the insane price increases I would have rated Netsuite as the highest but from a cost benefit standpoint (and they just double prices on a whim no underlying business reason) it fails.
I used Microsoft Dynamics 365 for several years at my prior company, and I would probably give NetSuite ERP the slight edge over Microsoft Dynamics. Netsuite is a little cleaner, easier to use and more customizable. We really appreciate the ongoing customer support from …
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.
I really like Vena for organizations with smaller finance teams. Excel is at the heart of Vena so there is a less new technology for them to learn. All three solutions have strengths that make them appropriate for specific organizations.
Verified User
Executive
Chose Vena
BPC seemed to me to require IT assistance, which was not available. I used it in a past life and thought it was a good product, but when implementing the flexibility and lack of IT resource requirements were the clinchers for Vena.
We have looked at NetSuite ODBC, which is a connector from NetSuite straight to Excel. This was a one time cost to us which was enticing, but once we dug into it, there was quite a bit of maintenance needed with scripting. Unlike Vena, where the setup is once, searches did not …
We selected Vena because it was moldable to our disparate systems. Ideally I'd have something sit natively within our ERP. But since our data points come from places outside of the ERP we needed something we could quickly and easily leverage and use Excel as our basis because …
Selected based on ROI for the size of business we were and where we were on our data journey. Vena still has great functionality for where it is positioned and the additional functionality we can get from other tools is not quite justified for the jump in cost as yet.
NetSuite ERP is well suited for many things including: Revenue recognition and billing management, inventory-linked sales fulfillment, cross functional/multi-department coordination Not that well suited for CRM and sales activities or highly customized workflows, reports, interfaces etc. The customizability of NS as a whole leave a lot to be desired. We have a third party that does most of our customizations because it's extremely time consuming and needlessly difficult.
Using the Vena's with a user-friendly interface has been incredibly easy. Their server comes with a setup that makes it easy for beginners like me to host account data in a hassle-free manner. The platform is reliable, giving me consistently high performance with a 99.99% server uptime and lightning-fast loading speed.
Revenue recognition. We get information from Salesforce and we build the revenue recognition engine that I'm really pleased. We avoid a lot of manual work by doing this.
We send out invoices electronically from the system. We use it for the fixed asset now with the new lease opinion that we just adopted in January 2022. We leveraged technology, specifically the features in NetSuite to help us account for that.
What i like best about Vena is that it is very seamless Excel integration.
Vena fosters collabs across teams, helping multiple members to work together on financial planning in real-time enhancing overall efficiency.
We now also can automate manual processes like budgeting, consolidation of data and reporting saves my valuable time and also reducing the risk of errors.
Certain exports out of the system. There are some pages that you can export to Excel and some pages you can't, I don't know why. So it seems like it should be all functionalities there.
Some of the bank feeds have broken quite a bit and I'm not sure why. So we have to constantly go in there and readjust that on the reconciliation tab. I know that's new and robust and it's going well. It's more of taking out GL data instead of what's remaining in that account. As far as if I'm looking at a rec for a particular asset, I know there's GL data that goes through there. What I want to know is what's the balance in that account made up of as far as what's remaining there. So that's the kind of stuff I would buy with advice.
It could improve the ease of implementation; it could take a long for an inexperienced IT team.
From the ERP system perspective, it can be linked easily, but it has room for improvement when you make core changes and require a Vena specialist again.
Some administrators can get confused while working on Excel implementation; it has complicated technical requirements.
NetSuite is able to cover all of our needs, spanning multiple departments and managerial levels. We use it daily for a multitude of functions, including creating promotions, estimating inventory, pulling historical reports, forecasting sales, and more. Overall, we're very satisfied with NetSuite as an ERP solution and recommend it to medium to large businesses.
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.
Provides a good platform for all needs, and businesses have realized many benefits. It has lots of features and can be highly customized, but it is not the easiest or most user-friendly for users. Additionally, the time and cost required to implement the system are substantial.
Vena allows any solution to be built the way you need it to work, and there are many different ways of going about what you need it to do. It may require time to build, test, and rebuild and retest, before the best solution to what you are trying to accomplish is reached. It is best for those who are Excel proficient because Vena utilizes and enhances the usage of existing Excel functions. For those who are not Excel proficient, the journey may be more challenging, however, with help of EMS, you can get your planning and reporting to a dynamic state.
It has been very reliable. I can only think of 1-2 times in 4.5 years that we have had issues getting in, and in each case were able to get back in within 1 hour. There has not been a major downtime
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
Most of the time the performance is very good. Pages load in a few seconds; financial reports take less than 5 seconds; basic searches take a few seconds. But performance can be sporadic throughout the day and cause the run time to triple.
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
I would like to give 8 rating for NetSuite support and reason for that is below: Whenever we faced any technical or functional issues we tried to reach out to NEtSuite support but response was not immediate. We told them about the urgency of the issue but still we were not getting response on time. Then, we have to reach out to AE to get things resolved.
They are very quick to respond when you submit a ticket and typically fix issues quickly as well. I only didn't give this a 10 because there is still an open issue with our Salesforce connection that we've been waiting on now for a few months.
I had in person training for a day when first got the software. The training was good. The challenge was that there was a large gap between training and when we went live so we forgot quite a lot
Our initial in person training was a little rough b/c I felt like our trainer wanted to focus on maximizing Vena rather than understanding what we were needing for our organization. He was very responsive and added insights, but could have worked to understand our needs a little better.
The training was structured as a group training to learn the basics of creating a data model and mapping a template. While we had nearly 10 participants, I was the only actual implementer so we probably didn't actually need the training and could have just learned the initial skills from the implementation consultant. Two years later, when we hired a new team member, they completed several modules in Vena Academy (a self paced learning course) which allowed them to get up to speed on the basics with just a bit of supplemental guidance from me as our existing admin.
I felt NetSuite Professional Services did an excellent job of guiding us in the implementation. I also felt our internal teams were a little resistant to the change and engagement of new software. Had we performed better engaging and buying into the new software, I would be able to rate the implementation better. Therefore, the lower number should not be viewed as a deficiency with the software or the professional services teams, but as an reminder of how important complete buy-in from the local users is.
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
I was not the selector of the vendor for NetSuite ERP, and it is now the interface I am most used to. I would recommend SAP and their full suite of products, currently only using Concur, as I think it has a slightly cleaner and less cluttered interface, however I do not know if it has all the many features that we use in NetSuite ERP as a global organisation of many individuals.
Vena Solutions stands out due to its familiar Excel-based interface, making it easy for our team to adopt without extensive training. Compared to alternatives like Anaplan and Oracle Hyperion, Vena's strong customer support and efficient automation have significantly reduced our budgeting cycle time. We chose Vena for its seamless integration with our existing systems and substantial time-saving benefits, ultimately enhancing our decision-making process.
We have been able to scale our business 25X without any major overhaul with Netsuite. Its dashboard setup makes onboarding new employees very easy and allows data to be shared across multiple offices. Its cloud setup does not put any pressure on IT to scale servers or other infrastructure. We have been able to become much more efficient in all aspects of the business.
We onboarded the entire company in a very short time frame to complete the full company budget cycle the first year out of the gate. Now we are looking to add more data and the ETL tool makes it easy to backload data into the cube as if was always there. Vena has been very scalable for our needs.
I would say it has been a great ROI. I'm fairly new to Titan, but I will say especially at my last company, which is a retail company, the ROI was almost immediate because the systems that they were using were really suffering and it was affecting the bottom line. So NetSuite was a savior for them, really in the most literal sense. They would not have survived very much longer on the systems that they had. So to go to something like NetSuite where everything was all together in one platform was a huge advantage. And it didn't take long for us to realize that investment was well worth it.
