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Vena

Vena

Overview

What is Vena?

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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Awards

Products that are considered exceptional by their customers based on a variety of criteria win TrustRadius awards. Learn more about the types of TrustRadius awards to make the best purchase decision. More about TrustRadius Awards

Reviewer Pros & Cons

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Video Reviews

1 video

Vena Review: Proves To Be Financial Management Solution For Handling Multiple, Complex Accounts
03:21
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Pricing

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Professional

N/A

Cloud

Complete

N/A

Cloud

Entry-level set up fee?

  • Setup fee optional
    Optional
For the latest information on pricing, visithttps://www.venasolutions.com/resources…

Offerings

  • Free Trial
  • Free/Freemium Version
  • Premium Consulting/Integration Services
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Features

BI Standard Reporting

Standard reporting means pre-built or canned reports available to users without having to create them.

7.7
Avg 7.9

Ad-hoc Reporting

Ad-Hoc Reports are reports built by the user to meet highly specific requirements.

7.8
Avg 8.3

Report Output and Scheduling

Ability to schedule and manager report output.

8.7
Avg 8.2

Data Discovery and Visualization

Data Discovery and Visualization is the analysis of multiple data sources in a search for patterns and outliers and the ability to represent the data visually.

7.9
Avg 7.6

Access Control and Security

Access control means being able to determine who has access to which data.

8.9
Avg 8.7

Mobile Capabilities

Support for mobile devices like smartphones and tablets.

8.1
Avg 7.8

Budgeting, Planning, and Forecasting

These activities are designed to assist with both data-driven operational, short-term planning and strategic long term planning

8.5
Avg 8.3

Consolidation and Close

Consolidation of data from multiple entities with currency management, reporting and audit trails.

7.9
Avg 7.9

Financial Reporting and Compliance

Financial statements and regulatory filings

8.3
Avg 8.2

Analytics and Reporting

Dashboards and scorecards for KPI monitoring and benchmarking

7.9
Avg 8.0

Integration

Ability to integrate with external applications.

9
Avg 8.3
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Product Details

What is Vena?

Vena is a CPM platform that streamlines financial and operational planning, reporting and analysis processes.


Top Solutions:
  • Budgeting and Forecasting
  • Financial Reporting
  • Financial Close Management
  • Business Analysis and Insights
  • Cash Flow Planning

Top Features and Benefits
  • Native Excel Interface
  • ERP, GL, HRIS & CRM Integration
  • Scenario Modeling
  • AI-Powered Assistant for FP&A
  • Microsoft PowerBI and PowerPoint Integrations

Vena Features

Budgeting, Planning, and Forecasting Features

  • Supported: Long-term financial planning
  • Supported: Financial budgeting
  • Supported: Forecasting
  • Supported: Scenario modeling
  • Supported: Management reporting

Consolidation and Close Features

  • Supported: Financial data consolidation
  • Supported: Journal entries and reports
  • Supported: Multi-currency management
  • Supported: Intercompany Eliminations
  • Supported: Minority Ownership
  • Supported: Local and consolidated reporting
  • Supported: Detailed Audit Trails

Financial Reporting and Compliance Features

  • Supported: Financial Statement Reporting
  • Supported: Management Reporting
  • Supported: Excel-based Reporting
  • Supported: Automated board and financial reporting
  • Supported: XBRL support for regulatory filing

Analytics and Reporting Features

  • Supported: Personalized dashboards
  • Supported: Color-coded scorecards
  • Supported: KPIs
  • Supported: Cost and profitability analysis
  • Supported: Key Performance Indicator setting
  • Supported: Benchmarking with external data

Integration Features

  • Supported: Flat file integration
  • Supported: Excel data integration
  • Supported: Direct links to 3rd-party data sources

BI Standard Reporting Features

  • Supported: Pixel Perfect reports
  • Supported: Customizable dashboards
  • Supported: Report Formatting Templates

Ad-hoc Reporting Features

  • Supported: Drill-down analysis
  • Supported: Formatting capabilities
  • Supported: Predictive modeling
  • Supported: Integration with R or other statistical packages
  • Supported: Report sharing and collaboration

Report Output and Scheduling Features

  • Supported: Publish to Web
  • Supported: Publish to PDF
  • Supported: Report Versioning
  • Supported: Report Delivery Scheduling

Data Discovery and Visualization Features

  • Supported: Pre-built visualization formats (heatmaps, scatter plots etc.)
  • Supported: Location Analytics / Geographic Visualization
  • Supported: Predictive Analytics
  • Supported: Support for Machine Learning models
  • Supported: Pattern Recognition and Data Mining
  • Supported: Integration with R or other statistical packages

Access Control and Security Features

  • Supported: Multi-User Support (named login)
  • Supported: Role-Based Security Model
  • Supported: Multiple Access Permission Levels (Create, Read, Delete)
  • Supported: Report-Level Access Control
  • Supported: Table-Level Access Control (BI-layer)
  • Supported: Field-Level Access Control (BI-layer)
  • Supported: Single Sign-On (SSO)

Mobile Capabilities Features

  • Supported: Responsive Design for Web Access
  • Supported: Dashboard / Report / Visualization Interactivity on Mobile

Vena Screenshots

Screenshot of Operation Expenses - Predictive AnalysisScreenshot of Allocations DashboardScreenshot of Vena Add InScreenshot of Power BI DashboardScreenshot of Operational Expenses - Drill through analysisScreenshot of Process Status DashboardScreenshot of Corporate DashboardScreenshot of Vena for PowerPointScreenshot of Audit TrailsScreenshot of Cash Flow StatementScreenshot of

Vena Videos

Introduction to Vena Complete Planning
Introduction to Budgeting in Vena Complete Planning
Vena for SaaS - Financial Reporting and Reporting Made Simple

Vena Technical Details

Deployment TypesSoftware as a Service (SaaS), Cloud, or Web-Based
Operating SystemsUnspecified
Mobile ApplicationYou don't need to download an app or change a setting to use Vena on your mobile device: just open your browser, go to Vena (vena.io), and log in as you normally do. The Contributor interface is fully responsive, so it can adjust to any size screen, regardless of the type of device you have.
Supported CountriesUnited States of America, Canada, United Kingdom, Australia, South Africa, Europe
Supported LanguagesVena supports any localization capabilities already native within Excel. Vena Cloud supports English, Spanish, and French. If a specific language is required please don’t hesitate to ask.

Frequently Asked Questions

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.

Workday Adaptive Planning, Prophix, and Planful are common alternatives for Vena.

Reviewers rate Excel-based Reporting highest, with a score of 9.4.

The most common users of Vena are from Mid-sized Companies (51-1,000 employees).

Vena Customer Size Distribution

Consumers0%
Small Businesses (1-50 employees)19%
Mid-Size Companies (51-500 employees)55%
Enterprises (more than 500 employees)26%
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Comparisons

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Reviews and Ratings

(338)

Community Insights

TrustRadius Insights are summaries of user sentiment data from TrustRadius reviews and, when necessary, 3rd-party data sources. Have feedback on this content? Let us know!

Live Changes: Users have appreciated Vena's ability to allow contributors to make live changes, making it easier for the finance team to track and consolidate budgeting data effectively. This real-time collaboration feature has streamlined communication and increased efficiency in financial processes.

Powerful Data Management: Reviewers have found Vena's robust data management capabilities instrumental in enhancing forecasting accuracy by leveraging advanced analytics and forecasting models. The system's analytical tools have empowered users to make more informed decisions based on reliable data insights.

Consolidation Feature: The consolidation feature in Vena has been highly praised by users for saving significant time previously spent manually consolidating spreadsheets. By automating this process, Vena has enabled teams to focus on strategic analysis and decision-making rather than tedious manual tasks.

Training and Resources: Users have consistently expressed a need for more training and resources to fully leverage Vena's capabilities. Some users feel that additional workshops and comprehensive training would enhance the user-friendliness of the platform.

Template Complexity: Several reviewers have found the templates in Vena to be overly complex and not intuitive, particularly with unclear definitions of dimensions. Simplifying templates and providing clearer instructions could improve user experience.

Performance Issues: There is feedback regarding slow performance when dealing with large and complex files, causing frustration among users. Enhancements to optimize system speed, especially when handling extensive data sets, are requested by many customers.

Reviews

(1-25 of 233)
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Powerful tool for centralised operation in company!

Rating: 8 out of 10
October 07, 2024
RP
Vetted Review
Verified User
Vena
3 years of experience
We use it in different departments for our company. The most important are budgeting, financial planning, forecasting, etc. In our company, it has solved problems like budgeting, performance management, and collaboration. There is a bit of a learning curve, but it has all been understandable because it has lots of features to manage.
  • It allows collaboration.
  • Customization and flexibility.
  • It makes data management centralized.
Vena can be more suitable for businesses that are totally reliable in budgeting and forecasting tools and Excel integration for easy input analysis and forecasting adjustment. This tool is also best for performance management and KPI tracking.

Not happy with Vena

Rating: 1 out of 10
September 30, 2024
CR
Vetted Review
Verified User
Vena
5 years of experience
Financial reporting for the whole company. It has been a reliable tool for reporting. The budgeting process was too cumbersome.
  • Data compilation
  • Data drill down
Any benefits received from the product have been forgotten based on the termination policy.

Vena - Excel Modeling's Partner

Rating: 9 out of 10
September 25, 2024
CC
Vetted Review
Verified User
Vena
1 year of experience
We initially used Vena for only our extensively detailed global recurring revenue model in the finance dept. Our model has always been very detailed, one of which excel alone can no longer handle. We moved the model onto Vena platform and resolved the file size issue by storing the data used in the cloud instead of on the spreadsheet. Vena's capability to dynamically expand wherever there is need to made maintenance of the model, reports, and templates much easier. We currently have expanded our Vena usage to operating expense planning as well. So far, forecasting has been much easier than before due to better visibility and ease of running reports in multiple slices made possible with the cascade reporting feature.
  • Dynamic expansion and mapping.
  • Integrations with other tools.
  • Data and file storage in the cloud.
  • Versatile.
  • Cascade report feature.
If current forecasting models are using only Excel, then recommended to move on to use a cloud-based forecasting platform. Vena should be considered if the core of the team using the software is Excel proficient. Expert services are recommended for engagement if forecasting model setup changes frequently. Not recommended for Mac users.

Must have system for FP&A professionals

Rating: 10 out of 10
September 23, 2024
MS
Vetted Review
Verified User
Vena
3 years of experience
We use Vena across the organization in different capacities: Budgeting and forecasting by department for OPEX, CAPEX, and Workforce. For variance reporting and analysis by department, entity, and consolidated. For Executive and Board reporting, standalone and consolidated. We implemented Vena 3 years ago, which completely automated our budgeting process and financial reporting. It also enhanced our security and how financial and HR data are transmitted across the organization. We have two entities with two different currencies and almost 20 departments in each country. Vena helped us in breaking the budget to smaller pieces and enabled us to handle the increasing numbers of departments and users who manage budget. If I would to replace Vena and go back to manual budgeting and reporting, I would need at least 4 more people on my team.
  • Budgeting and forecasting
  • Financial reporting
  • security and privacy
  • Flexibility
If you are running budgeting, planning and financial reporting, especially in a large organization with a large number of departments. We are a service company and 2/3 of our budget is people and Vena enabled us to budget smoothly with the complex nature of compensation planning.
It might not be very cost-efficient to implement Vena if you're a very small company. But you should think of an FP&A system once your business can afford it.

Vena provides flexibility and efficiency to focus on what actually matters

Rating: 9 out of 10
September 20, 2024
BE
Vetted Review
Verified User
Vena
5 years of experience
We use Vena to budget our operational and grant expenses, as well as process our annual compensation planning as part of our summer performance review cycle. We've also used Vena to plan our capital expense budgets and our detailed medical item and equipment procurement budget in the past. We have 200 users across 10 countries contributing to specific portions of the organizational budget. Vena's Excel interface allowed our users to adopt the platform quickly as we were able to build templates that mirrored our existing Excel templates, while also giving them the flexibility to use other Excel functionality that they're familiar with (i.e. using formulas to populate cells). From the administrative side of the platform, we were able to learn how to build and manage data models, templates and user permissions in multiple ways to suit the needs of our specific use cases. The ability to export and upload transactional data, hierarchies, users and user permissions makes things easy to manage as well. Vena also has robust system audit features that allow you to see what information was saved, by who, and when, making it easier to troubleshoot any issues that come up, particularly when multiple users are collaborating on the same data. The platform also allows you to see snapshots of what the data looked like down to 5 minute increments, which we've used a few times to restore data that was mistakenly overwritten in bulk - navigate to a date in the past, add some query language to narrow your search, export the data to confirm it's what you want and then re-upload it to get back to a good starting point. Vena's real time consolidation has also been a major win for us as we previously only updated our budgets once per month because the consolidation process was manual and very tedious. Since we started with Vena, our budgets are consolidated immediately, and we're able to automatically push that data to our data warehouse to be used for broader reporting. What used to be a once every 30 day process to update the organizational budget is now an automated process that happens each day - a user can enter a new budget line today and see it in our reports a day later. While we haven't yet pushed our accounting system's actual data into Vena yet, we see that as an opportunity in the future to allow users to use that information to immediately update their annual forecasts throughout the year. We also lean heavily on our data warehouse to build our broader reports, but are excited to explore Vena's Power BI embedded feature as it matures and once we are pushing accounting data into the platform. Beyond the technical aspects of Vena's platform providing a lot of flexibility and functionality, they've built a customer community that allows customers across different industries to discuss best practices and new ideas, and have built a steady stream of webinars with industry experts.
  • Flexibility - design the data model, templates, and permissions your organization needs
  • Usability - the Vena web portal is clean and easy to navigate, checking files in and out is straight forward, and users have adopted templates quickly
  • Community - from training, knowledge base, discussion boards, webinars, and repeating Customer Success calls, Vena stays in touch with customers regularly and uses feedback to improve the platform and partnership
Vena is great for organizations that are comfortable using Excel and require lots of flexibility as it allows you to design and build your templates in exactly the way that you need. It's also a good match for organizations that have disparate users contributing simultaneously because it's permissions allow for everyone to work in a standard template while only being given access to edit the data for which they're responsible. If you have a team that has internal capacity to manage your systems, Vena as a platform allows you to expand beyond your initial implementation independently without needing to go back to a consultant to make an adjustment or start a new project.

Ven-tastic Experience

Rating: 10 out of 10
September 20, 2024
Verified User
Vetted Review
Verified User
Vena
5 years of experience
Departmental- Camping Operations. Vena solves our financial planning, reporting, forecasting, and analysis needs. It has revolutionized the way we interact with finances and has driven management decision-making. Cannot imagine managing operations without it. The Excel interface changes the game regarding flexibility. It was this customizable adaptation that enabled us to navigate through COVID, making on the fly decisions as they arose.
  • Forecasting
  • Analysis
  • Strategic Planning
  • Reporting
  • Data input/Interaction
Vena is well suited to medium to large-sized organizations with disparate users needing access to financial data. The system has fostered collaboration in our daily work. It has driven decision-making by providing timely, accurate information that is interactive. Price-wise, it may be difficult for small organizations to justify. Shines brightest where lots of users are needed.

Vena Solutions: SIMPLE, EFFECTIVE, DYNAMIC, POWERFUL!

Rating: 9 out of 10
September 19, 2024
Verified User
Vetted Review
Verified User
Vena
4 years of experience
Vena Solutions is used in our company to create detailed annual budgets, multi-year future plans, and end of accounting period financial reports. We are able to utilize the workflow system to connect our users to our processes from start to finish of a process. Our users feel engaged in each process. We also experience significant time savings in the creation of Vena models and end result reporting.
  • Vena files and templates are simple to create and adjust.
  • Vena constantly is evolving to enhance its features.
  • The user experience is very simple in Vena.
Reporting and budgeting are where we have been successfully using Vena Solutions in our business. We are excited to keep incorporating it into our business for account reconciliations and dashboards.

Good platform

Rating: 8 out of 10
September 19, 2024
Verified User
Vetted Review
Verified User
Vena
2 years of experience
Vena is primarily administered by the finance team manager; however, it serves as a valuable tool for contributors across the organization. Our team utilizes Vena for budgeting, forecasting, and reporting to address a variety of business challenges. Its functionality and flexibility make it an essential part of our financial management process.
  • Vena allows contributors to make live changes, and its powerful data management capabilities make it easier for the finance team to track and consolidate budgeting data.
  • Improving Forecasting Accuracy: Utilize analytics and forecasting models
Vena is an excellent solution for managing complex budgeting processes within the finance team. Its powerful data management capabilities and Excel-based interface make tracking, consolidating, and reporting of budgeting data easy. However, most new users often require additional training to fully utilize its functionality and get accustomed to its interface.

New User to Vena Solutions

Rating: 10 out of 10
September 18, 2024
SM
Vetted Review
Verified User
Vena
1 year of experience
Our organization needs to use a lot of Excel spreadsheets when it comes to budgeting since we have built many formulas and macros within Excel. Of course, the problem will be a system crash when you have so many macros and formulas together running at the same time and with thousands of line items and errors. With all those problems that we have, we have found out Vena Solutions is a great way for us to move into since we are familiar with Excel and we can retain all the formulas in our budget sheets. And the learning curve would be minimized since we have around 60 users within our company.
  • Excel-based tool and user interface and easy integration with other software like Spreadsheet server
  • Export and import data from other Excel sheets even with formulas
  • Easy to attach documents and comments to the data cell for budget detail explanations
  • SaaS would eliminate the time for in-house labor upgrade and storage
  • Easy to setup security level for each individual by admin
  • Workflow and audit trail are really helpful and easy to understand and modify
  • Flexibility due to Excel, we can add formula and links to the sheet
The workflow feature in Vena Solutions that will remind the appropriate team member for the due date is amazing. It works so well and is so easy to use and powerful. We have over 60 users but Vena already has all their email information and based on their security level and department. Vena will distribute the template and reminder to those users.

Financial advantage with Vena

Rating: 9 out of 10
August 13, 2024
Verified User
Vetted Review
Verified User
Vena
1 year of experience
Maintaining the whole product in a single software helped a lot. Viena included a CRM integrated with our financial module, making it easy to access every insight while interacting with the client. It impacted our KPIs positively, reducing the ETA and customer satisfaction.
  • Native integration with Microsoft Excel.
  • Awesome and beautiful interface for the CRM that faces clients.
  • Offering a quality software that never crashes.
It can be automated to give customers answers with metrics and insights when agents are not available. The financial module is integrated with the metrics and the CRM, so it doesn't require much configuration.

Best platform for Financial Planning and Analysis

Rating: 10 out of 10
July 17, 2024
Verified User
Vetted Review
Verified User
Vena
2 years of experience
Vena is the perfect solution for creating and analysing the planning, analysing and forecasting's reports. With Vena in our company our Sales department, Accounts department and finance advisors all are working on it. They have best user interface and reliable services that make the more useful and helpful for our daily works.
  • Sales Performance Report
  • Daily Accounts Credit and Debits
  • Financial planning and forecasting
  • Daily finance reports
For sweet and simple use Vena is for both beginners as well for professional also. They have very useful guides and customer support that make them ease to understand platform for working on it. They have multiple features and integration that make them more reliable and user friendly. They have very clear objective regarding their hassle free services.

Vena's use case lies beyond financial management, and towards better decentralization

Rating: 9 out of 10
June 07, 2024
Verified User
Vetted Review
Verified User
Different departments hold different significance in an organization, and managing the finances of these departments becomes a tedious task without decentralization. Decentralizing the financial solutions as well with different department heads has made everything so subtle and streamlined. In this use case, Vena has come to be a great use case, as instead of using its solutions in a concentrated area, we decentralized its solutions within different department heads, and the rest is just history. The accessibility to our C-Level executives has been made easier thanks to Vena Solutions.
  • Automated budgeting, forecasting, and DCF
  • Excel integration to handle the power of AI in execution
  • Detailed analysis of all reports and statements, with sufficient management
  • Customized regulatory compliance as per the location
  • Workflow streamlining
Well-to-do firms that are already doing well in their operation efficiency and tasks, can surely look forward to automating their financial accounting and related processing with Vena. For example, our organization looked forward to using Vena and its solutions not because we faced any problems or had backlogs in our operational efficiency but because there was scope for automating these tasks with Vena, and focusing on other related prospective better tasks. So Vena should not be considered only for tackling issues/problems but also if you're thinking of automating financial processes in your organization.

Really useful Product.

Rating: 10 out of 10
June 05, 2024
MS
Vetted Review
Verified User
Vena
2 years of experience
Vena is being used in our IT team and financial department to automatize several procedures with the help of this product integration with Excel and PowerBI. It addresses the problems that arise when we need to successfully share our business reports and dashboards with another shareholder. Vena simplifies all the complex building procedures required and makes it a seamless integration within our company.
  • Cash flow model are really accurate within our finance model integration.
  • Workforce modules are really customizable and easy to implement.
  • It is simple to build additional models without customer support guidance.
It is well suited for scenarios where a company needs an efficient and scalable solution to implement in their daily products; it eases the work and saves time using Vena. However, I would not recommend this product before analyzing and estimating a budget because it can be pretty expensive for small and medium-sized companies.

Vena makes your old spreadsheets smart!

Rating: 9 out of 10
June 04, 2024
RS
Vetted Review
Verified User
Vena
1 year of experience
We're using Vena for Marketing, Operations and Sales departments to address the problem we had of multiple spreadsheets often with overlapping data being used to track spends in different areas. Lacking a proper 'source of truth' for our data made reporting unreliable and budgeting and planning a lengthy, difficult process.
  • Integrated workflows into sheets
  • User control and security
  • Intuitive to use for anyone familiar with Excel/Sheets
Vena is a great solution if you are looking to consolidate multiple spreadsheets and other planning documents into one. If your organisation is growing so it's no longer sustainable to update everything manually.
It would be less suited to a larger enterprise where the scope and amount of data would benefit from having a specialized tool for each department.

Vena product review.

Rating: 10 out of 10
May 29, 2024
Verified User
Vetted Review
Verified User
Vena
5 years of experience
We use Vena for Financial Reporting, Planning, KPI, and operational reporting.
  • Automates recurring process.
  • Workflow
  • Data transformation.
Vena is great anytime you need to marry people, processes, and data. It can automate data transformation and aggregation so you can spend more time on analysis. The workflow has been a game changer, allowing me to create a self-service model for my end users to access their data anytime, any place.

Vena is Great!

Rating: 9 out of 10
May 22, 2024
Verified User
Vetted Review
Verified User
Vena
1 year of experience
Our FP&A team current uses it to complete our budgeting and forecasting process. We also use Vena to do variance analysis, ad-hoc reporting. We use Vena to build out our monthly, quarterly, and annual financial packages.
  • Ease of use
  • Support when necessary
  • Learning opportunities
Vena is definitely well-suited for the FP&A professional. I think the more complex the organization, the less appropriate Vena would be.

Vena's Awesome!

Rating: 10 out of 10
May 20, 2024
Whole organization, mainly used for budgeting and forecasting. We started with 10 users and right now we have more than 100. We also do our monthly operations & cost reporting thorugh templates than after are put on a presentation.
  • Flexibility
  • User acceptance
  • Self service
If you-re already working with excel it is very simple to move from. If you're looking not to use IT support a lot, this is the best tool for an accountant!

Great Product for FPA

Rating: 10 out of 10
May 20, 2024
TK
Vetted Review
Verified User
Vena
1 year of experience
Vena is being used in our org to do long range planning, and Asset Level Capex and Opex Planning. Its mainly managed and used by the finance team. Other stakeholders mainly use the business dashboard part of the Vena. It helps us to address the urgent reporting needs while giving us great flexibility
  • Asset level opex and capex planning
  • long range planning
  • dashboarding
The flexibility in excel and the mapping to the data cube

Vena Creates Efficiencies and Increases Productivity

Rating: 9 out of 10
May 20, 2024
Verified User
Vetted Review
Verified User
Vena
1 year of experience
Vena is currently being used by the FP&amp;A team. Second phase will include accounting team for closing.<br>Vena is addressing budget and planning as well as weekly/monthly/quarterly/annual reporting.
  • Customer Success Team is fully dedicated to the success of our team and have become an integral part of our operations. They are always recommending best practices, having forward looking approaches, and documenting along the way.
  • Ad hoc reports will be a game changer to create self- sufficiency in the organization.
  • Power Point Presentation will increase productivity and efficiency to finally be able to focus on providing more insight and takeaways for the executive team.

Vena is very customizable and easy to use but we found out that some templates might have been over engineered during the the implementation process.

Vena is the Best

Rating: 10 out of 10
May 20, 2024
We use Vena for planning and variance analysis. It is being used by 3 entities within our organization but will eventually be implemented across the entire organization.
  • Template configuration
  • Updating analysis
  • Consolidation
I think Vena is nearly perfect for all finance processes. It is great for scenario planning and latest views. It is easy to update things quickly. Workflows a great to ensure process is followed.

Vena for Business

Rating: 8 out of 10
May 20, 2024
Verified User
Vetted Review
Verified User
Vena
4 years of experience
We use Vena as a workflow tool to support and administer several FP&A and operational processes in our organization. It is currently used by our corporate accounting, corporate finance, and operational finance departments. We are in the process of expanding to operations, as well. The tool has solved the problem of needing to share and email spreadsheets and has standardized processes that had too much variation.
  • Warehousing data
  • Standardizing processes
  • Improving collaboration
  • Easy adoption
Vena is a great fit for any process that utilizes excel and involves folks email data back and forth and collaborating. It is a great solution for processes where data is stored in a decentralized manner. It is also great for processes that need a structured workflow that is repeated regularly.

Ease of Use

Rating: 10 out of 10
May 20, 2024
KG
Vetted Review
Verified User
Vena
5 years of experience
Currently Vena is only being used by our FP&A team and some accounting team members. We would love for other teams to start utilizing to enter their budgets and forecasting. This has been put on the back burner due to hiring capability in FP&A. We do use Vena reporting for a lot of external and internal reporting while also using for review and month end processing.
  • Ease of Reporting Building / Mapping
  • Workflow Process
  • ELT Intergration Capabilities
Vena is well suited when you are looking for specific data on a repeating basis, whether monthly/quarterly/daily. Reports can clearly, quickly, directly show the requested information. Vena is less appropriate when trying to sort by value as the mapping does not allow.

Vena Review 2024

Rating: 10 out of 10
May 20, 2024
BD
Vetted Review
Verified User
Vena
3 years of experience
We use for budgeting and forecasting, financial reporting, and departmental expense reporting. We also use it to track headcount trends by department. It helps us consolidate our entities for quicker financial reporting.
  • reporting
  • consolidatings
  • segmenting
makes financial reporting much easier and cleaner - saves a ton of time

Finance Manager

Rating: 8 out of 10
May 20, 2024
Verified User
Vetted Review
Verified User
Vena
1 year of experience
Vena is being used specifically as a budgeting and forecasting tool internally allowing for more efficiencies consolidating and completing budget while allowing for more time analyzing and strategic planning.
  • Provide Auditing Tools
  • Excel Based / Familiar
  • Customization
Love from a budgeting/forecasting standpoint, however, if you are looking for more operational reporting (for specifically banks/CU's) this may not be the most ideal solution at this point. I am confident that Vena is continuing to expand and innovated especially in regards to Banks/CU's. There is a lot of potential here in the future.

Great platform for medium sized company.

Rating: 8 out of 10
May 20, 2024
Verified User
Vetted Review
Verified User
Vena
4 years of experience
This is currently used only within FP&A, with all of us being power users. It helps bring data together and make it easily accessible. We would love to utilize more software to add contributors and viewers.
  • Data integration.
  • Reporting
  • Analysis
Well, it is suited for account reconciliation, bringing multiple sources together, and creating reports for powerpoint presentations and analysis.
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