What users are saying about
21 Ratings
21 Ratings
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Score 9 out of 101

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Likelihood to Recommend

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

Vena Solutions
8.7
Long-term financial planning
Vena Solutions
8.8
Financial budgeting
Vena Solutions
8.9
Forecasting
Vena Solutions
8.4
Scenario modeling
Vena Solutions
8.5
Management reporting
Vena Solutions
8.8

Consolidation and Close

Vena Solutions
8.7
Financial data consolidation
Vena Solutions
8.9
Journal entries and reports
Vena Solutions
8.4
Multi-currency management
Vena Solutions
8.7
Intercompany Eliminations
Vena Solutions
8.8
Minority Ownership
Vena Solutions
9.1
Local and consolidated reporting
Vena Solutions
8.9
Detailed Audit Trails
Vena Solutions
8.5

FInancial Reporting and Compliance

Vena Solutions
8.7
Financial Statement Reporting
Vena Solutions
8.9
Management Reporting
Vena Solutions
8.3
Excel-based Reporting
Vena Solutions
8.9
Automated board and financial reporting
Vena Solutions
8.8

Analytics

Vena Solutions
8.9
Personalized dashboards
Vena Solutions
8.7
Color-coded scorecards
Vena Solutions
8.8
KPIs
Vena Solutions
9.1
Cost and profitability analysis
Vena Solutions
8.9
Key Performance Indicator setting
Vena Solutions
9.1
Benchmarking with external data
Vena Solutions
9.1

Integration

Vena Solutions
8.5
Flat file integration
Vena Solutions
8.5
Excel data integration
Vena Solutions
8.6
Direct links to 3rd-party data sources
Vena Solutions
8.4

Pros

  • Maintains integrity of front end spreadsheets because inter-linking the various templates is done outside of Excel.
  • Allows us to import data directly from our accounting and payroll system to populate templates.
  • Provides flexibility through multiple scenarios ....allowing several versions of a budget to exist concurrently.
  • Template control allows us to engage multiple managers in the process, each working on their own program template without impacting the work of other managers.
Jay Scheumack profile photo

Cons

  • Sometimes developers do not get a clear idea of what is needed before attempting to design a solution.
  • Because the system design allows for such flexibility it can be difficult for support to fully understand what my issue is. No two budgets are designed exactly alike so it is understandable that troubleshooting can be a challenge. Having said that...I have never encountered a more supportive and helpful support staff.
  • In my opinion the process of rolling forward budget versions and scenarios is not intuitive and seems cumbersome.
Jay Scheumack profile photo

Likelihood to Renew

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

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

Support

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

Implementation

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

Alternatives Considered

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 process to fit their system rather than solving for our individual needs. Vena Solutions’ sales team had worked with other products (many of those listed above) before making the switch to Vena and as such were able to explain the differences and understand the frustrations with the other products. During implementation, our consultant understood our rather complicated processes and calculations easily. This product is extremely flexible and very easy to use and we can't wait to see where it takes us!
Carrie Self, CPA profile photo

Return on Investment

  • Faster financial reporting - Previously, consolidated reporting took place only annually or quarterly, with a significant time requirement. Now we perform a monthly consolidation within a few weeks of each month end.
  • Cost efficient cost reports - We do a biweekly cost report on each production which previously took someone a full day to perform and is now largely done automatically, freeing up time for our staff to do other work.
George Taylor profile photo

Pricing Details

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