Prophix vs. Vena

Overview
ProductRatingMost Used ByProduct SummaryStarting Price
Prophix
Score 8.6 out of 10
Enterprise companies (1,001+ employees)
Prophix One, a Financial Performance Platform, is used to improve the speed and accuracy of decision-making within a harmonized user experience. To reduce complexity and uncertainty, the software offers automated insights and planning, budgeting, forecasting, reporting, and consolidation functionalities.N/A
Vena
Score 8.7 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.N/A
Pricing
ProphixVena
Editions & Modules
No answers on this topic
Professional
N/A
Complete
N/A
Offerings
Pricing Offerings
ProphixVena
Free Trial
YesYes
Free/Freemium Version
NoNo
Premium Consulting/Integration Services
YesYes
Entry-level Setup FeeOptionalOptional
Additional DetailsProfessional Plan is the most flexible way to get started quickly and add as you grow. The plan includes: Growth Platform, Customer Success Manager, Standard Support and Customer Portal. Complete Plan includes everything in Professional, plus: Microsoft Power BI Embedded, Premium Support, Sandbox Environment, Expert Managed Services and more. *Vena offers special pricing for not for profit organizations. To learn more, speak to an expert.
More Pricing Information
Community Pulse
ProphixVena
Considered Both Products
Prophix
Chose Prophix
Vena and Prophix are designed to target similar markets. In the end the ability to support globally in multiple locations, time zones and languages lead us to choose Prophix. We carried out reviews of demo environments of both systems and felt that Prophix was focused more on …
Chose Prophix
Prophix is significantly better than these two products and at a better price. We tried implementing DataRails and it just didn't work for us as the struggled mightily with implementation. The Prophix implementation was very smooth and the support team was an absolute pleasure …
Chose Prophix
Price, functionality, and service were major factoring for us when deciding on which platform to use.
Chose Prophix
We found Prophix to be more flexible than the other solutions. It proved to have less of an implementation timeframe, and we felt more comfortable supporting the system ourselves post-implementation. We were also surprised to find that Prophix's pricing was more competitive …
Chose Prophix
We chose Prophix based on the desire to make a paradigm shift away from Excel and towards a more fully-featured web-based SaaS solution that would still allow for the utilization of Excel where it made sense. Prophix does this through an Excel add-on, while more comprehensive …
Chose Prophix
Our company used Vena for our budgeting and forecasting process, but it never ended up working correctly for our organization. Once we switched to Prophix, we have had a much better experience from the start. Prophix's implementation team helped us design everything very well …
Chose Prophix
The company was looking for a robust tool and during the demo sessions the key budget contributors were satisfied with the user friendliness and positive outlook on the success of Prophix.
Vena
Chose Vena
The main contender with Vena was Prophix. Most of the other products we looked at were not capable of the complexity we needed. We chose Vena because the Excel templates made it look like the budget we were working with. We were able to use syntax we were familiar with for …
Chose Vena
Vena is easier to use than Prophix but Prophix has a personnel module and more flexible ad-hoc reporting capabilities.
Chose Vena
We had Prophix (old version) for planning and budgeting and it was way less user-friendly and flexible than Vena.
We always had to go back to Excel to build more complex reports and share them.
And we extended the use of Vena to monthly reporting, which could not have been done …
Chose Vena
Prophix is powerful, and structures data on the back-end in a very similar way with multiple data models, and I have used it before. But the learning curve is steep. Building complex rules, e.g. for a union personnel model, was much harder than designing the same logic in …
Chose Vena
When looking at other tools, we were concerned about end user adoption and Vena stood out because of the use of Excel. It is a familiar format and provides almost endless flexibility when considering business processes that can be added. At first, Adapative was a front runner …
Chose Vena
Ultimately we decided on Vena because of the Excel interface which we knew would improve adoption. We also like the platform agnostic integration and easy-to-use web interface. The OLAP cube was also appealing to allow for a variety of pivoted reports.
Chose 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.
Chose Vena
Vena allowed for the most customization that made everything easy for us with our complicated system of managing allocations across products and time by employees.
Chose Vena
We were using Dynamic Budgets before we moved over to Vena and researched many, many, many other products before settling on Vena in the end. One of the things that quickly knocked out other vendors was our unique fiscal calendar. We have 13 periods (4 weeks each) and that …
Chose Vena
We spent about a year and a half in the selection process for our budgeting system. The issue that we kept coming across was speed, flexibility, and a lack of understanding of our process during the sales cycle. Most of these other products wanted us to change our budgeting …
Top Pros

No answers on this topic

Top Cons

No answers on this topic

Features
ProphixVena
BI Standard Reporting
Comparison of BI Standard Reporting features of Product A and Product B
Prophix
7.0
11 Ratings
12% below category average
Vena
8.2
92 Ratings
3% above category average
Customizable dashboards7.010 Ratings8.281 Ratings
Report Formatting Templates7.110 Ratings8.488 Ratings
Pixel Perfect reports00 Ratings7.952 Ratings
Ad-hoc Reporting
Comparison of Ad-hoc Reporting features of Product A and Product B
Prophix
9.0
94 Ratings
9% above category average
Vena
8.0
182 Ratings
3% below category average
Drill-down analysis9.693 Ratings8.7175 Ratings
Formatting capabilities8.591 Ratings8.4174 Ratings
Report sharing and collaboration8.888 Ratings8.4151 Ratings
Integration with R or other statistical packages00 Ratings6.553 Ratings
Report Output and Scheduling
Comparison of Report Output and Scheduling features of Product A and Product B
Prophix
8.9
86 Ratings
9% above category average
Vena
9.0
139 Ratings
10% above category average
Publish to PDF9.381 Ratings9.195 Ratings
Report Versioning8.061 Ratings9.0116 Ratings
Report Delivery Scheduling9.273 Ratings8.8102 Ratings
Publish to Web00 Ratings9.165 Ratings
Data Discovery and Visualization
Comparison of Data Discovery and Visualization features of Product A and Product B
Prophix
6.5
34 Ratings
16% below category average
Vena
8.5
84 Ratings
11% above category average
Predictive Analytics6.534 Ratings8.665 Ratings
Pre-built visualization formats (heatmaps, scatter plots etc.)00 Ratings8.774 Ratings
Location Analytics / Geographic Visualization00 Ratings8.359 Ratings
Pattern Recognition and Data Mining00 Ratings8.410 Ratings
Access Control and Security
Comparison of Access Control and Security features of Product A and Product B
Prophix
8.9
90 Ratings
2% above category average
Vena
9.1
176 Ratings
5% above category average
Multi-User Support (named login)9.487 Ratings9.1165 Ratings
Role-Based Security Model8.887 Ratings9.0164 Ratings
Multiple Access Permission Levels (Create, Read, Delete)8.890 Ratings9.2167 Ratings
Report-Level Access Control8.631 Ratings9.230 Ratings
Single Sign-On (SSO)00 Ratings9.0123 Ratings
Mobile Capabilities
Comparison of Mobile Capabilities features of Product A and Product B
Prophix
9.5
45 Ratings
17% above category average
Vena
9.0
84 Ratings
12% above category average
Responsive Design for Web Access9.545 Ratings9.281 Ratings
Dashboard / Report / Visualization Interactivity on Mobile00 Ratings8.769 Ratings
Budgeting, Planning, and Forecasting
Comparison of Budgeting, Planning, and Forecasting features of Product A and Product B
Prophix
9.1
191 Ratings
9% above category average
Vena
8.6
220 Ratings
4% above category average
Long-term financial planning9.3157 Ratings8.6197 Ratings
Financial budgeting9.3186 Ratings9.1212 Ratings
Forecasting8.7178 Ratings8.3203 Ratings
Scenario modeling8.8144 Ratings8.3182 Ratings
Management reporting9.3183 Ratings8.9209 Ratings
Consolidation and Close
Comparison of Consolidation and Close features of Product A and Product B
Prophix
8.4
154 Ratings
5% above category average
Vena
7.9
190 Ratings
1% below category average
Financial data consolidation9.6126 Ratings9.2161 Ratings
Journal entries and reports9.379 Ratings7.6113 Ratings
Multi-currency management7.762 Ratings6.5107 Ratings
Intercompany Eliminations8.772 Ratings7.8106 Ratings
Minority Ownership7.028 Ratings7.171 Ratings
Local and consolidated reporting9.0108 Ratings8.2139 Ratings
Detailed Audit Trails7.588 Ratings8.9167 Ratings
Financial Reporting and Compliance
Comparison of Financial Reporting and Compliance features of Product A and Product B
Prophix
8.4
183 Ratings
2% above category average
Vena
8.5
210 Ratings
4% above category average
Financial Statement Reporting9.3166 Ratings9.1186 Ratings
Management Reporting9.4177 Ratings8.8195 Ratings
Excel-based Reporting9.2161 Ratings9.4204 Ratings
Automated board and financial reporting9.0139 Ratings8.5147 Ratings
XBRL support for regulatory filing5.25 Ratings6.548 Ratings
Analytics and Reporting
Comparison of Analytics and Reporting features of Product A and Product B
Prophix
7.8
159 Ratings
3% below category average
Vena
8.2
157 Ratings
2% above category average
Personalized dashboards8.6146 Ratings8.3130 Ratings
Color-coded scorecards7.9105 Ratings8.995 Ratings
KPIs7.7115 Ratings8.1111 Ratings
Cost and profitability analysis7.6115 Ratings7.7122 Ratings
Key Performance Indicator setting7.493 Ratings8.5108 Ratings
Benchmarking with external data7.463 Ratings7.681 Ratings
Integration
Comparison of Integration features of Product A and Product B
Prophix
9.3
179 Ratings
12% above category average
Vena
9.1
206 Ratings
9% above category average
Flat file integration9.2142 Ratings9.4165 Ratings
Excel data integration9.2157 Ratings8.8190 Ratings
Direct links to 3rd-party data sources9.5137 Ratings9.1149 Ratings
Best Alternatives
ProphixVena
Small Businesses
IBM Planning Analytics
IBM Planning Analytics
Score 8.3 out of 10
IBM Planning Analytics
IBM Planning Analytics
Score 8.3 out of 10
Medium-sized Companies
Centage
Centage
Score 9.6 out of 10
Centage
Centage
Score 9.6 out of 10
Enterprises
Anaplan
Anaplan
Score 8.7 out of 10
Anaplan
Anaplan
Score 8.7 out of 10
All AlternativesView all alternativesView all alternatives
User Ratings
ProphixVena
Likelihood to Recommend
8.9
(209 ratings)
8.8
(224 ratings)
Likelihood to Renew
10.0
(16 ratings)
8.7
(19 ratings)
Usability
8.6
(44 ratings)
9.0
(26 ratings)
Availability
10.0
(26 ratings)
8.8
(6 ratings)
Performance
8.0
(25 ratings)
8.5
(6 ratings)
Support Rating
8.1
(120 ratings)
10.0
(96 ratings)
In-Person Training
8.2
(10 ratings)
9.0
(3 ratings)
Online Training
8.7
(12 ratings)
8.9
(3 ratings)
Implementation Rating
8.8
(19 ratings)
7.5
(4 ratings)
Configurability
8.7
(11 ratings)
8.2
(3 ratings)
Ease of integration
9.0
(28 ratings)
8.9
(3 ratings)
Product Scalability
9.0
(23 ratings)
8.8
(6 ratings)
Vendor post-sale
9.1
(20 ratings)
8.8
(3 ratings)
Vendor pre-sale
8.8
(18 ratings)
8.9
(3 ratings)
User Testimonials
ProphixVena
Likelihood to Recommend
Prophix Software
Being able to allow all budget holders access to their reports via Prophix and having charts on the dashboards which give an image of where we are financially as a company each month is really helpful, our users appreciate the access and not receiving emails with reports. The drill down in the reports provides much more detail for the budget holders and going forward we are going to try to use the line item details to provided a greater amount of information. Using the Detailed Planning Manager for Personnel Planning during budget setting was a game changer - being able to view the costs and being much more accurate with regard to start and end dates and applying a cost of living increase which we could adjust to see how it would affect the budget overall was really helpful.
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Vena Solutions
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.
Read full review
Pros
Prophix Software
  • ONU has benefitted by moving away from a centralized, Excel-based budget process by implementing Prophix to a decentralized process that engages budget managers in the development of the University's budget.
  • Prophix offers tremendous flexibility in reporting that is not available through our ERP system.
  • Prophix is very adaptable to many different types of industries. Its flexibility and adaptability is one of its biggest strengths.
  • The ability to set up workflows for a variety of tasks within Prophix is very beneficial for tracking purposes.
Read full review
Vena Solutions
  • 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
Read full review
Cons
Prophix Software
  • Version control; there are issues using the same budget version in multiple years if adding detail (line item detail). What Prophix has explained as a benefit is a huge detriment for us and we've been working with them for 6 months on a fix and it's yet to get resolved
  • There are certain aspects that a messy; within our budgeting and forecasting detail, we have "unexplained balance" lines that show up that are distracting and add no value.
  • Lack of a centralized location for content outside of tool; for example, training, help, support, intranet, etc are all separate websites and not easy to get to. I'm not sure why all of this isn't linked to the same account and accessible through the tool. Why should we need separate passwords for everything Prophix?!
Read full review
Vena Solutions
  • 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.
Read full review
Likelihood to Renew
Prophix Software
The system works well for us, and meets all of our needs. All of our future plans can and will be achieved within Prophix, so there is no need to pursue another product. Prophix has continuously proven to improve their product over the years, which provides an even higher level of confidence in this tool, and future developments
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Vena Solutions
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.
Read full review
Usability
Prophix Software
The
data can be sliced and diced many ways, and each user is able to do it however
they like. It is easy to create or run existing reports. We have made many of
our processes more efficient, and Prophix has allowed us to save more time than
you can imagine. We
are able to use Prophix for Expense tracking, Expense and Capital planning, reforecasting,
Compensation planning, Project tracking, Expense allocation, GAAP PLOB
reporting, and still have several more tasks to implement through Prophix
Read full review
Vena Solutions
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
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Reliability and Availability
Prophix Software
Prophix's CS is one of the best that we communicate with. Response time is reasonable, and they can communicate via email or phone or Teams. Multiple ways to communicate and if any additional questions that they cannot answer, i am redirected to the correct individual to assist
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Vena Solutions
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
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Performance
Prophix Software
Prophix has always performed consistently. We are using on-premise so many factors can contribute to slower than desired performance, most having nothing to do with Prophix itself. If we move to the web-client cloud based solution I believe performance will even be better.
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Vena Solutions
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
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Support Rating
Prophix Software
The Prophix staff is very helpful and quick to respond. I like that they teach me instead of doing it for me when possible, so I don't have to contact them as often! Never talked to anyone at Prophix that I didn't respect or think highly of! Very professional, great customer service!
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Vena Solutions
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.
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In-Person Training
Prophix Software
The initial integration consultant was very helpful in making sure we were set up with all the essential uses we required: reporting/budgeting/forecasting. There was a learning curve but our consultant made it very easy to understand and helped me be comfortable in my Global Admin role in the system. Even after integration, we were given support whenever I came up with an idea I would get in touch and I would be trained on how I can implement it.
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Vena Solutions
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.
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Online Training
Prophix Software
We used our system and created a test cube to work with our own data. We ran through the different functions of Prophix and covered alot of material. We did two sessions a week, with homework tasks assigned. We were able to ask questions and cover any questions during the followup sessions.
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Vena Solutions
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.
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Implementation Rating
Prophix Software
Prophix Consulting should bring, in house, chargeable expertise in Oracle EBS table access for Drill Across and provide reasonable limits on dimension member combinations so there are no unreasonable expectations about the application of multi dimensional cubes to detail, such as revenue by product and customer.
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Vena Solutions
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
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Alternatives Considered
Prophix Software
We found Prophix to be more flexible than the other solutions. It proved to have less of an implementation timeframe, and we felt more comfortable supporting the system ourselves post-implementation. We were also surprised to find that Prophix's pricing was more competitive than its rivals, which made the decision process quite easy.
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Vena Solutions
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.
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Scalability
Prophix Software
We are a medium sized company, but the structure of Prophix would seemingly adapt to whatever sized organization you have. It also can be applied in any area of an enterprise that needs performance management, whether it involves financial data or not. The potential for application within the enterprise is really only limited by you imagination.
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Vena Solutions
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.
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Return on Investment
Prophix Software
  • The greatest impact Prophix has had is provided useful data for business decisions, especially with variance analysis and real time production data.
  • Prophix has saved our company a considerable amount of time during our budgeting/forecast process as well as reporting actuals and variance to managers.
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Vena Solutions
  • 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
Read full review
ScreenShots

Prophix Screenshots

Screenshot of Prophix One Portal: One single point of entry into Prophix One through its portal simplifies access and authentication but also allows seamless movement between applications.Screenshot of Chart Insights, one of the AI Insights capabilities that utilizes Artificial Intelligence and Natural Language Processing to provide enhanced business awareness.  Chart Insights extends the important details contained within dashboards, and analyzes the complete dataset behind the dashboard, automatically surfacing the data relationships not obvious in dashboard visualizations alone. It then provides a summary of key performance metrics found buried within Prophix charts.  It also summarizes the important insights in plain English.Screenshot of Prophix One Financial Planning & Analysis: Prophix's self-serve dashboards and visualizations are directly integrated with data, workflow tasks, announcements, and external URLs and databases. Dashboard Studio helps users to be informed and make better business decisions.Screenshot of Detailed interactive charts and graphs that Prophix offers to uncover insights. Prophix’s visual analytics are linked directly to data with transaction details.  There is no need to input the numbers.  Prophix does this tedious work, automatically.Screenshot of Prophix’s Workflow Manager, used to assign tasks to users and facilitate approvals across the business.  Stakeholder input can be captured directly with the ability to add comments and notes in a single unified database.Screenshot of Cell Comments, that allow users to add supporting details like notes and attachments to data.  Since comments are stored with the data, they can be viewed in any template along with their trailing history. Cell Comment Reports can also be generated to show all comments from any data view in one convenient report.

Vena Screenshots

Screenshot of Operation Expenses - Predictive AnalysisScreenshot of Allocations DashboardScreenshot of Vena Add InScreenshot of Power BI DashboardScreenshot of Revenue and Sales PlanningScreenshot of Corporate Dashboard - Workforce Planning