Vena

Vena

Customer Verified
Top Rated
Score 8.6 out of 10
Top Rated
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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Recent Reviews

My Vena review.

8 out of 10
October 28, 2022
Dear Folks, Vena is used in my whole organization as a product sales tracker; we have all sales records in it, including the upcoming …
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VENA tool for FP&A.

9 out of 10
October 26, 2022
VENA is used as a financial reporting and consolidation tool. Primarily for GL data but expanding to other uses in the organization (i.e., …
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How Vena Differs From Its Competitors

Full-Cycle Support

Vena supported the organization through the sales process and after implementation by offering free web-based training to all users, as well as offering access an extensive knowledge base and a support team which can answer ad-hoc questions. We also chose to procure additional Vena consultant time …
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Finance-Informed Decisions

Yes - Vena has enabled our organization to use financial data to make more agile or rapid business decisions. This was done by allowing drill-downs of data, visualisation and effective automation of standard reports. We're also excited to start using Vena's integration with PowerBI to allow for …
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Full-Cycle Support

I understand the implementation of the system from Brian was good The support we are given from Dario and Jester has been excellent, but as they are in Canada, it has been difficult with time issues.
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Finance-Informed Decisions

After an overnight, it provides us with a budgeted/forecasted revenue and EBITDA number; we are able to look at this against actuals using cost centers and g/ls.
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Full-Cycle Support

Vena experts have continued to support the organization with their guidance and assistance in the development of financial statements. Their role was crucial in developing the initial data cube that would be used to map the dimensions of all the data that would be imported to Vena to transform …
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Finance-Informed Decisions

Vena has enabled our organization to use financial data to be more agile and efficient through its ability to control data read and write access to specific users. By limiting users to reading and writing only certain data, users are not distracted massive financial information that may not be …
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Full-Cycle Support

Vena is the best vendor I've worked with in terms of support. They are constantly at the clients side and they focus on delivering the best after implementation support, not only accomplishing the sale. They really have the clients satisfaction as the most important thing. They are friendly and …
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Finance-Informed Decisions

By organizing a companies data and automating reports linked to graphs and dashboards, Vena will immediately take the data that has been integrated to it and let the finance team look at important KPIs and compare their performance to their last year sales and their budget. In terms of agile …
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Full-Cycle Support

The sales process was amazing. Dylan was so helpful and informative, as expected, but it was better than a typical sales call. It was like being on a call with a friend who is trying to help your company save hours every week. Have any of your friends saved you enough time and money to get …
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Finance-Informed Decisions

One major way we can make more agile decisions is when it comes to near-term projections. Since Vena helps to update actuals rapidly and updated drivers for our forecast, we can go check our cash forecast early in each month to see if anything major has changed. If something did shift, we could …
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Full-Cycle Support

Yes - the support from VENA, both in implementation and improvement, has been top-notch. The expert hour services have been a lot of help when implementing new initiatives or projects. Even learning new features as we go along the way and we learn new ways to implement VENA, the VENA team has been …
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Finance-Informed Decisions

In the past, the data had to be downloaded from the different ERP systems and then manually consolidated and validated in Excel to then be used for reporting and analysis. Excel could only hold so much data, so the multiyear analysis was almost impossible. With VENA, the data collection is more …
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Finance-Informed Decisions

Using excel as an interface enables us to constantly refine forecast templates and reports as we continue to change our business model. No coding or technical knowledge required. As long as you are comfortable working in excel, you can tailor Vena to match your needs
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Full-Cycle Support

We have been working with a third party consulting firm for the Vena implementation and have not needed to rely on Vena's help.
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Finance-Informed Decisions

The vena reports are available through a click of a button and are integrated with our accounting system so we know the reports are accurate. Information is delivered quickly and we do not need to wait for reports to manually be created, updated, and checked to make sure all information is there.
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Full-Cycle Support

We implemented Vena using a consulting company that worked closely with Vena. The implementation process took about 4 months to complete. The consultants were friendly and competent and after our contract was up, we were still able to gain Vena support directly with the Vena support team. They are …
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Full-Cycle Support

They walked us through the whole process and let us know how it would improve our current process. They helped us create reports and let us create our own reports as we were implementing Vena. The integration was very simple and went very smoothly. They check up on us and make sure everything is …
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Finance-Informed Decisions

We feel much more comfortable with our forecasting and budgeting since we are able to spend more time on analysis and review instead of creating templates and verifying and matching numbers. The numbers are more accurate and more reliable now and our management team has much more confidence in the …
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Full-Cycle Support

I am not in a role that deals wit this aspect of the system - we have a dedicated resource that takes this responisbility
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Full-Cycle Support

Vena continues to provide ongoing webinars, support material, and virtual conferences to help individuals leverage the abilities of Vena in relation to their day to day responsibilities. Vena goes above and beyond and caters specific events to help users upskill as well. For instance, Vena not …
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Finance-Informed Decisions

Vena has allowed our organization to prepare monthly reporting packages for our senior leadership team faster but also help fellow team members within the finance team prepare and analyze the financial results faster and more efficiently. Especially useful during the crunch times of month-end …
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Finance-Informed Decisions

All files needed are quick and easy to find so managers and employees can make faster decisions. If there are things that need to be done an employee can quickly choose which task is more important and finish that one faster. Additionally, since the files needed for a task can be found all in the …
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Full-Cycle Support

The vendor has ongoing support where we can log tickets, and we do get a response back the same day or the next. Implementation was smooth but required a lot of user testing to ensure the integrity of the numbers.
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Full-Cycle Support

Yes, the vendor has been supporting the organization through the sales process and after implementation. Our in house IT team has been working with Business Analyst as well so that maximum utilization of the software is achieved. Our IT Director promotes it across the teams and this helps in …
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Finance-Informed Decisions

Yes, Vena has greatly helped in making more agile or rapid business decisions. We always enter data in it for the senior management to review and plan for upcoming investments. It also helps in reviewing lost business and if we need support from the sales to take it up with the customer.
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Full-Cycle Support

They set up quarterly meetings to ensure we are satisfied with the product, how we are using the product and if there is anything to facilitate our growth
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Full-Cycle Support

Vena quickly understood our needs and after explaining one of our biggest challenges (consolidating a newly awarded grant into our operational budgets), was able to create a mockup of the process and demo it for us within a couple of weeks. They also allowed us to test the platform from various …
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Finance-Informed Decisions

One of the major benefits of Vena has been the ability to flexibly make changes across a wide range of users, time zones, and types of input, while also still allowing us to see instantly what is changing. We've had insights into the data and been able to collaborate with our budget and …
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Full-Cycle Support

Had a need for a template build out a year after implementation. Needed this built in 2 weeks while I worked on something else. Using expert hours, the vena team delivered and we forecasted a brand new sales model within 2 weeks' time from data load to reporting. Support post implementation has …
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Finance-Informed Decisions

We constantly change routes, so customers move between locations, and budgets from 6 months ago are no longer accurate at the lowest level. With the API to our ERP, we can easily run a forecast that captures all customer movement and re-align budgets.
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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

Popular Features

View all 46 features
  • Excel-based Reporting (160)
    9.3
    93%
  • Financial budgeting (168)
    9.1
    91%
  • Forecasting (162)
    9.0
    90%
  • Management reporting (165)
    9.0
    90%

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

View all pricing

Professional

N/A

Cloud
per year

Complete

N/A

Cloud
per year

Entry-level set up fee?

  • Setup fee optionalOptional
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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Product Demos

Intro to Vena Complete Planning
01:54
Intro to Budgeting in Vena Complete Planning
03:34
Vena for SaaS - Financial Reporting and Reporting Made Simple
01:11
Vena for Banks and Credit Unions - Budget, Forecast and Plan With Confidence
01:08
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Features

BI Standard Reporting

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

8.3Avg 8.1

Ad-hoc Reporting

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

8.2Avg 8.4

Report Output and Scheduling

Ability to schedule and manager report output.

8.7Avg 8.3

Data Discovery and Visualization

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

7.4Avg 7.6

Access Control and Security

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

8.8Avg 8.8

Mobile Capabilities

Support for mobile devices like smartphones and tablets.

6.8Avg 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

9Avg 8.5

Consolidation and Close

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

8.5Avg 8.3

Financial Reporting and Compliance

Financial statements and regulatory filings

8.4Avg 8.5

Analytics and Reporting

Dashboards and scorecards for KPI monitoring and benchmarking

9Avg 8.0

Integration

Ability to integrate with external applications

8.9Avg 8.5
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Product Details

What is Vena?

Vena is a Native Excel Complete Planning Platform used for budgeting and forecasting, for business leaders and finance and operations professionals.


Vena boasts users among more than 1,350 companies such as Nike, Coca-Cola Consolidated and the Kansas City Chiefs. In addition, Vena works with over 100 Partners.

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 Revenue and Sales PlanningScreenshot of Corporate Dashboard - Workforce PlanningScreenshot of Operational Expenses - Drill through analysisScreenshot of Operational Expenses Planning - Input Excel templateScreenshot of Operational Expenses - Drill through analysisScreenshot of Operational Expenses Planning - Input Excel template

Vena Videos

Introduction to Vena Complete Planning
Introduction to Budgeting in Vena Complete Planning
Vena for SaaS - Financial Reporting and Reporting Made Simple
Vena for Banks and Credit Unions - Budget, Forecast and Plan With Confidence

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 KPIs highest, with a score of 9.6.

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

(1-25 of 178)
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Score 10 out of 10
Vetted Review
Verified User
Vena is being used by the Finance department to produce monthly management reporting including financials and KPIs. Primarily, it is the central source for all management information. Additionally, we produce flash forecasting and are building out all of our financial reporting within it.
  • Versatile reports that interact directly with the data cube
  • Concurrent editing of information ensuring version control
  • Robust backup allowing roll back of data and model
  • Restore deleted models
  • Duplicate tabs in a report to a new section and block
  • Great user interface to build data models and interact with the cube directly from Excel
  • Can build and automate the reporting and forecasting process
  • Version control processes and data input
  • Allows user input from various groups across the organisation in standardised format
Score 9 out of 10
Vetted Review
Verified User
Vena is being used as an FP&A solution, consuming accounting ledger and other ad hoc KPI data to produce various pieces of consistent management information packs / decks and other pieces of analysis. Such outputs/models input: 1. MTP / Budgeting 2. Workforce planning 3. Management Information packs 4. Board packs 5. Ad-hoc analysis
  • Data visualisation
  • Consistent Finance outputs
  • Easy read/write interface with the data cube
  • High ROI / value proposition
  • Integration to older accounting software
SMEs looking to add / build out an FP&A function should look to implement Vena. Even if systems across the board are not yet considered "best-in-class" Vena has the adaptability within the software to flex to the needs of the business. This is especially the case where there needs to be multiple data sources feeding into 1 system, such as finance, HR, sales etc.
Score 8 out of 10
Vetted Review
Verified User
Vena Solutions is being used for budget and monthly analysis. My company is planning to broaden the range of the software globally for standardized budgeting.
  • Ability to connect to source data
  • Allows for quick analysis and internal development and enhancements of reports
  • Easy end-user interface with Excel functionality!
  • Internet access required to use the software but this is inevitable in our technological age.
Vena Solutions is well suited for companies that rely heavily on Excel. By creating standardized input forms and reports the user can feel confident that the Excel connections are correct and can be trusted.

Furthermore, with different users, access data can be well protected or shared as needed.
Always prompt and available at all hours of the day.
Very user friendly and easily customized by users within the organization with help form Vena support
Score 8 out of 10
Vetted Review
Verified User
VENA is used within Finance as a tool for Management Account reporting; its also used as Budgeting and Forecasting tool to consolidate the figures from multiple teams and pull together useful reports for the Management team. We also use it for Payroll to log hours to check the status of the traincrew hours.
  • It consolidates the figures.
  • It produce useful information for Traincrews Hours.
  • It transfers employees from one dept to another within the budget.
  • It would be useful if we could have UK support (to avoid time issues).
  • For the system to have checks to ensure data validity.
VENA works well when pulling the hours from our train planning database and provides us with a report of the status of each traincrew member; it provides us a flight path of hours and a % of under or over hours. I find we have multiple workforce templates as scenarios haven't always been able to work on one another, this makes the running of this very slow, and as we have multiple scenarios this causes issues. For example, we can't have more than 30 new future employees, or we can't see all new staff by name, job role, etc, on one sheet.
Score 9 out of 10
Vetted Review
Verified User
We used Vena as a powerful tool to share and facilitate financial statements across the entire company. From sharing balance sheets, income statements, and cash flow, and devising templates in order to pull in budget information across the organization's departments, Vena has made it easy to organize the flow of information contribution from our entire organization.
  • Organize Budget Input.
  • Make financials accessible to users.
  • Data permissions make read restrictions scoped.
  • Vena experts are also financial experts.
  • The knowledge base is easy to use and understand.
  • It's is not easy to get an agent for immediate help.
  • adding licenses should be on the website.
  • Available lectures should be more apparent.
The most powerful feature of Vena is the ability to set Data Permissions to restrict the access of specific levels of users in a large organization. In a large organization, there are multiple departments, a large sales force, and different types of executives. It is not necessary for each group to gain full access to see all the organization's financial information. Vena does a great job in setting up users through data permissions and task binding so that users only need to see and work with what is appropriate for each user.
October 28, 2022

My Vena review.

Score 8 out of 10
Vetted Review
Verified User
Dear Folks, Vena is used in my whole organization as a product sales tracker; we have all sales records in it, including the upcoming projects, etc. We can easily manage and track the record of our business as per SKUs, brands, and therapy areas. It is linked to our different project management software to keep all data in line. I would suggest Vena come up with more formulas and be more automated so that new users can easily understand the process of downloading the reports and the entire Vena system. Regards, Nagma
  • Perfect incremental formulas and sumtotal.
  • Easily downloadable.
  • Data accuracy.
  • No glitch.
  • Should improve in downloading the reports for new users.
  • Should come up with more formulas to make files more accessible.
  • Should adapt more features to get differentiated.
For new users, it is difficult to handle.
Score 10 out of 10
Vetted Review
Verified User
We are a consulting company formerly called The DB Group and we implement solutions to clients using Vena. We also teach the client how to use it for them to keep maintaining and adding new templates/processes. We are currently implementing it on our new parent company, Citrin Cooperman. It has helped organize data internally and get much more insights.
  • Automate templates and reduce human error when reporting
  • Making the budgeting process better and less time consuming
  • More time to the finance team means they can add more value to their company
  • Process standardization
  • Mac Users. They are now including Mac Users using Vena 365 but there is room for improvement
  • Global Files could have Process Variables and the ability to be restored to previous versions
  • Integration folders could be duplicated. Not just channels
Vena is a software that can be leveraged with Excel and can be used on companies regardless of their size. It helps automating tedious tasks and elevating your spreadsheet planning in order to gain better insights that would greatly help your company while avoiding repeated processes and reducing human error.
Max DiPlotti | TrustRadius Reviewer
Score 10 out of 10
Vetted Review
Verified User
Vena is currently only in use for the Finance Department, and it has been an immense help. We are able to break out every individual expense by product line automatically, all month-end reporting is completely automated, staff and revenue projections now update automatically, and we can do a rolled-up view or detailed view in any report within Vena depending on the detail needed with only the click of a button. We are rolling out Vena to other department heads this quarter, and I am excited to see where else it can help.
  • Update actuals automatically.
  • Forecast individual expenses.
  • Maximize detail and value of a single number with Zoom/Drill.
  • Flexibility to create anything we need internally.
  • I'd like to have notes sections that are tied to specific departments, similar to how expenses are mapped. I did make one anyway, though, so if anyone needs guidance on this, I am happy to help!
Vena is great for Budget Reports, Forecasting, Scenario Comparisons, Workforce Planning, Corporate Financials, and Automation of their own reports as well as reports you create individually. I'd say Vena is not a replacement for a Workforce Manager (Like ADP), an Account System (Like QuickBooks/NetSuite/etc.), or other specific software for some non-FP&A functions (SalesForce, etc.) However, it does integrate with these other products very well in order to consolidate the most valuable data into one data source and present it in a helpful way.
October 26, 2022

VENA tool for FP&A.

Score 9 out of 10
Vetted Review
Verified User
VENA is used as a financial reporting and consolidation tool. Primarily for GL data but expanding to other uses in the organization (i.e., Human Resources, Sales Team). VENA is really powerful at consolidating the different data from the different data sources and ERP systems, consolidating in one place for easy reporting and analysis of financials.
  • Consolidates data from different financial systems.
  • Allows for drill down of data, as well as consolidation of data.
  • Creation of different data models, and consolidation of those models within VENA.
  • The process for checks and balances can be improved, especially when it comes to consolidation.
  • Support community where users can ask and find answers from other users.
For companies with lots of acquisitions or entities in different financial systems, VENA provides one place to consolidate different data (GL, HR, Billings, etc.) and generate reports and analyses either individually or consolidated. The downside is that VENA might not be able to directly connect to as many ERP systems as some of its competition.
James Leisk | TrustRadius Reviewer
Score 9 out of 10
Vetted Review
Verified User
Vena is being used for budgeting, forecasting, management reporting and board reporting across the whole organisation
  • Agile planning
  • Version control
  • Workflow management
  • Issues with installation of desktop excel add-in
  • Web based reports/dashboards
Vena has enabled us to continually adapt our financial modelling in accordance with the evolving needs of the business, whilst retaining a familiar excel interface. The system is easy to manage and maintain for non-technical users, with a simple to use workflow interface and all the benefits of having a central database in the background.
Score 9 out of 10
Vetted Review
Verified User
We use Vena for everything on our organization, all the way from FP&A on the corporate side to time tracking for every individual. Every single one of us has to use Vena at least for the time tracking template and the rest use it on a daily basis, be it implementation or whatever is needed from it.
  • Great representation of data
  • ETL can be done from many different ERPs which is great
  • Facilitates data analysis
  • Can create many different types of templates (Financial, Labor, Time tracking)
  • LIDs I find really confusing because they don't often work on the same way
  • Validation rules have issues when you add more than one
  • Form block expansion
I would recommend Vena to every one of my friends that owns or works on a medium to a big company, I find most of its capabilities are better seen when you have many departments, accounts, regions, etc. so for folks that are just starting their company without oustide funding it could be quite expensive and not use the full potential of the extension.
Score 8 out of 10
Vetted Review
Verified User
Vena is currently being used with our accounting system (Intacct) to both track project budgets and create automated financial reports. Right now it is just being used by the accounting and finance departments, but these reports are circulated to both internal and external users. It addresses the problem of us having to manually create financial statements each month by hard keying items into excel and dual entry by also entering all of our data into a separate budget tracking system.
  • Seamless integration with Intacct
  • Reports are easy to use in Excel
  • Automation of reports saves time
  • Reports can be difficult to create without extensive training
  • Protecting a sheet to eliminate end user errors is important, but it would be nice to still be able to make cosmetic changes easily
  • There is sometimes a delay in opening reports and loading new reports
If you are using Excel extensively and manually updating numbers each month Vena can be a huge help in automating these tasks. Vena seamlessly communicates with an accounting system to sync everything over. I would not recommend Vena to someone that may not be as comfortable with the more advanced features of Excel and does not have the resources to hire an outside consultant to assist behind the scenes in report creation.
Score 7 out of 10
Vetted Review
Verified User
We use Vena within our corporate department. This tool is used mainly for our FP&A and has been very helpful in streamlining our process for quarterly and budget reporting. Previously, we have been using Excel to perform our forecast and budget, but we always encountered problems with broken links and were also frustrated with having to update every single workbook in order for us to consolidate our results.
  • Flows changes and updates to our forecasts seamlessly where we know the numbers are reflected in all of our reports.
  • Ability to create ad hoc custom reports.
  • Having the ability to pull different scenarios, periods, and years easily to have comparatives for better analysis.
  • Integrated well into excel where you don't feel like you're using a completely different tool.
  • Inability to collaborate with a teammate in the input templates.
  • Not integrated with word documents which would be helpful for our MD&A report.
Vena has been a great platform for us to input all of our forecastings into one hub so that we can perform our consolidations. We also import our actual data into the Vena database, so we are now able to compare our financial results against our forecast and budgets to provide better analysis for our stakeholders. Vena has offered us the flexibility to build reports on demand which has been a great tool to have as our reporting needs evolve.
Jeremy Vance | TrustRadius Reviewer
Score 9 out of 10
Vetted Review
Verified User
Vena has replaced a manual Excel forecast template we used to have in place. It is widely used by the accounting department for budgeting/forecasting and financial analysis and reporting. It is also used by each department to update its quarterly forecast. It has significantly reduced time and errors from the manual process we had in place. We can easily track changes and see who inputted certain data. Vena is very simple to learn and requires little training for the end users since it is basically just like working in Excel.
  • Simplified the budgeting and forecasting process.
  • Allows end users to run certain reports as needed.
  • Significantly reduced time and errors from manual processes.
  • Wish there was an option for multiple people to use a check-in and checkout file like a shared file.
  • Speed of report writing is not bad but could always use improvement.
  • Wonderful product that really does not need many things to improve on in the way that we currently use it.
Our company has many departments that used to take a whole day to create templates and email each department head. Vena has allowed just the push of a button to automatically send out each department template to each individual department manager. This has significantly reduced time in budget and forecast creation. It has allowed us to track changes easily and determine different scenarios. I cannot imagine a situation in which Vena's capabilities are not needed.
October 13, 2022

It is fine

Score 6 out of 10
Vetted Review
Verified User
Vena is used for Financial reporting, linked to to ERP
  • Easy reporting
  • Drill Down capabilities
  • Separating Departments
  • The setup - the product needs to be set up properly to gain full functionality
  • Hierarchy isn't always conducive to company hierarchies
  • It would be nice to be able to drill down into the ERP detail
I used to have to create financial statements in Excel, now it is as easy as running a report
Score 10 out of 10
Vetted Review
Verified User
Vena is an ad hox solution that helps my customers to improve the performance of the processes of reporting, forecasting, and budgeting. The specialized tools of cloud computing, in combination with the flexibility of Excel, make it the most successful tool for my clients.
  • Excel functionality for performance management tools.
  • Cloud computing.
  • Data integration from many sources.
  • Some functionalities are limited - minor bugs to improve.
It's most suitable for companies that want to migrate to a more advanced tool but are struggling to do it because multiple sources of information cannot be integrated into a single financial model. Also, for companies that want to improve the collaboration across all users in the company and at the same time want to keep things simple, like the use of excel for end users.
Score 9 out of 10
Vetted Review
Verified User
Vena is primarily used by the Financial Planning and Analysis team within the Finance department. Vena was specifically chosen for FP&A due to its capabilities to streamline forecasting needs for the FP&A team and eliminate the need for a multitude of messy Excel workbooks. I primarily use Vena for financial planning and forecasting purposes.
  • Eliminate the need for messy Excel workbooks
  • Connecting data with ERP system like Oracle for financial data
  • Ability to share with multiple different users
  • "Contributor" only access limits information transparency and may not help the contributor understand the entire picture
Vena puts together a multitude of webinars and learnings to help individuals find use cases for the software. Though Vena is only currently used for financial planning and analysis purposes right now, the use case of Vena for account reconciliation and financial consolidation would help immensely with automating mundane manual tasks that are subject to a higher degree of error due to the degree of manual intervention required.

From a Contributor perspective, my experience so far with Vena has been smooth and easy to understand and pick up without having to go through hours of training.
October 11, 2022

Pretty cool

Score 7 out of 10
Vetted Review
Verified User
Used by the acct. department to quickly access files and tasks. The task list is very helpful. I mostly use it for keeping track of deadlines and knowing what comes next after a task. Vena also comes with a tab for instructions which provides a little more direction to completing tasks along with SOPs in the excel file. Syncing and downloading to and from Vena can take some time. Vena helps address the problem of managers having to find all the files in the folders and allows everything to be easily accessible by due date.
  • Task list
  • listing out tasks and who is doing it
  • check in files
  • UI is clunky
  • Downloading files takes long
  • ability to communicate
You are assigned a task, you go to task list, you see who you can ask about it, the files you need are there already, and higher-ups can add instructions to the file. Good stuff. Good in month end close where everyone is pumping out tasks on their own and the manager needs to keep track of who is doing what.
October 08, 2022

Quick and short.

Score 7 out of 10
Vetted Review
Verified User
Vena is used for financial reporting and budgeting. The budgeting process involved more than ten departments with at least 30 users.
  • Vena is able coordinate budget users through workflow and setting deadlines.
  • Financial reporting is done through excel.
  • Vena is able to integrate with our custom software.
  • There is a steep learning curve for new users.
  • Interface can be more user friendly.
  • Need more help to address mapping issues on reports.
Well-suited: When you have a lot of users who contribute to the budgeting process, the workflow helps to set deadlines and send out budget templates. It gathers information from all departments and summarizes them in a custom budget report that you can create. Less appropriate: If you are looking for financial reporting uses only, there are other software that is much easier to use (ex: drag and drop). Vena requires a lot of mapping work.
Score 8 out of 10
Vetted Review
Verified User
Vena is the corporate planning software used across the organization. It is used widely across the entire company and provides a great way to roll things up to a corporate level. The audit trail and control make it very easy to track and make sure that the different versions are explainable and can be communicated clearly to the executive team.
  • Roll ups.
  • Capture inputs.
  • Easy to see the end product.
  • Takes time to extract information.
  • More insurance specific metrics.
  • Simpler user guide.
Well suited for a corporate-wide roll-up. Not well suited to do some ad-hoc analysis.
Mikhil Soni | TrustRadius Reviewer
Score 9 out of 10
Vetted Review
Verified User
We use Vena for forecasting and developing strategies. Our IT and Business Analyst team along with Sales/Marketing team use this platform the most.
  • Helps in managing demand and connects with Power BI
  • Let's us review Forecast and multiple users are able to upload it in the same time.
  • Pull reports and prepare strategy for both short term and long term.
  • Get automatic notifications for pending task.
  • I get frequent errors while check in of the file.
  • Vena Tab in MS Excel doesn't provide any information.
It is more suited for data visualization and consolidating all the data. It helps in planning and creating strategies for the next quarters and even for long term. However, it is less helpful in project planning or management and better softwares are available which are more advanced and good at it.
September 22, 2022

Vena Review

Score 7 out of 10
Vetted Review
Verified User
It is mainly used for our finance and accounting team for budgeting and internal reporting.
  • Versatile
  • Maps various data sources
  • Drag & drop functionaility
Vena works well for financial reporting and cost budgeting. It does not work so well with headcount forecasting and planning
Score 10 out of 10
Vetted Review
Verified User
Vena is been used in our day-to-day management of the business. It has allowed us to have full transparency of our business with one source of truth. We also use it for consolidating and reporting our financials internally and externally. Vena has made it much easier for forecasting, budgeting, and modeling the business.
  • Control of Month-end close
  • Drill down of accounts
  • Consolidating
  • Controls of users and users group
  • Allow to flip the sign on balances
  • Easier copying and pasting of a whole sheet and the mapping
Vena is suited for any service or manufacturing company that is mid to large size.
September 22, 2022

Vena - Cannot be compared!

Score 9 out of 10
Vetted Review
Verified User
Vena is being used currently by our Finance and Accounting team.
  • Consolidation
  • Integration
  • Planning/Budgeting
  • Support
  • Export features
  • Business Intelligence
Vena is great for consolidation and budgeting and planning. Can be difficult to use for analysis however, a business intelligence tool more suited for that.
September 22, 2022

Good product overall!

Score 8 out of 10
Vetted Review
Verified User
FP&A team manages; Budgets & reporting / analysis across company
  • Flexibility
  • Adaptability
  • Excel Add-In support
  • Lacking modeler flexibility
  • Mappings time consuming
  • Speed of intersections
Vena is good for budgeting & excel analysis; ad hoc reporting and modeler can be difficult to structure quickly
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