Vena Solutions Reviews

We use Vena across our entire organization for budgeting and forecasting of all financial metrics. Department owners input their budgets, finance reviews inputs and then creates quarterly forecasts based on actuals that roll into Vena. Most recently we have started to use Vena for monthly variance analysis as well as income statement analysis.

Vena is being used as our annual budgeting, forecasting, consolidation, management reporting and financial analysis tool. Vena is used heavily on a daily basis by the finance team as we perform analysis and drive insights to our business and is the tool the entire business uses to plan on an annual basis and forecast periodically. Vena was implemented to provide a consolidated planning tool where we could eliminate disparate spreadsheets and control the process much easier. In addition, Vena gave us the flexibility in reporting financial results in our business that our ERP system was not well equipped to do. We expanded the use of Vena to consolidations recently given the positive experience we've had with the tool.

Vena Solutions is used for budgeting at our company. It is primarily used by the accounting department with a little input from some department heads. I wouldn't say it addresses any problems, but it key in creating our budget for the year.

We acquired a couple of companies in different geographies. Each of these companies' finance departments uses different IT systems, however, the common thing among all finance teams is the use of Excel. We chose Vena Solutions for the very reason, familiar Excel look and feel and its compatibility with Excel. Vena easily integrates with Microsoft Excel. All our finance teams across the world like Vena and import their financial statements from different ERP systems into Vena. The corporate will consolidate all these financial statements, do variance analysis using Vena.

We developed some fancy dashboards using Vena too. Finance controllers are assigned tasks in Vena and they are tracked for timely consolidation of financial reports. The audit trail feature in Vena is robust, if any data is changed, Vena will show the name of the person who updated it.

We use Vena Solutions for budgeting, forecasting and salary increase planning. Vena Solutions allows us manage our spreadsheet distribution and data collection from all departments across our university. We collect department data for each of these processes and save the data into the Vena Solutions database. Data is automatically consolidated and aggregated per our requirements for use in advanced management reports as well as ad hoc reports.

Vena is being used to aggregate data from business lines to be used in reporting to regulators. It is being managed by the reporting department with end users across the company. It systematically aggregates data previously manually aggregated and provides a vehicle for analysis as well as workflow, approval tracking, audit trails and controls.

We utilize Vena for both budgeting/tracking production expenses and managing our monthly financials. Consolidation of several dozen companies is a daunting task (one that we previously attempted only on an annual basis) but Vena enables us to carry out on a timely basis each month. This in turn gets more reliable data to senior management within a short enough time frame that it remains relevant to the current situation of the company.
We also use it to track employee costs in our technical and corporate departments, and currently have a long list of additional endeavors we want to use it to expand into for projections and project capacity management.

Our organization uses Vena solutions for the following:

1) Monthly account reconciliations across all our subsidiaries and assets
2) Consolidation, statement of cash flows and other adhoc reporting requirements.
3) Reporting on standalone financial statements for all our entities

We use Vena for budget and forecasting. Vena helps us manage our spreadsheet distribution and data collection. It takes our data and puts it into a database that automatically consolidates and aggregates our data, where we could build advanced management reports as well as easily create ad hoc reports.

It is being used by our accounting and finance departments to manage our entire monthly and quarterly closing process. All our closing schedules are included in Vena Solutions and are submitted and reviewed. It helps us with our SOX controls by showing proof that the schedules have been reviewed.

Vena Solutions is being used agency wide as our primary budgeting tool. Utilizing Vena we have replaced a 24 spreadsheet inter-linked internally developed budget tool. Previously we were unable to allow many users to update our spreadsheets because of the danger of breaking the links but with Vena we are able to include multiple managers in the budget process and allow them to work directly with their people to develop a budget that more accurately reflects reality. To be honest we completed our first budget in Vena this past August. Due to unanticipated funding changes we were notified of in September we had to completely rework the budget in less than a month and were able to do so. Vena allows us to shorten our budget process significantly and produce more dependable and accurate results. We are required to submit budgets with the many funding requests we prepare...mainly to government agencies. Vena will allow us to more easily create these budgets based on our overall agency budget. By using scenarios we can use existing budget data to produce these new and updated funding budgets.

Although we are aware of Vena Solutions' capability to support forecasting and budgeting processes (and are looking into that, too), we use the software primarily as month-end close and consolidation tool, as well as for process flow and access control. This software has substituted a series of stand-alone and disjointed Excel files and currently allows us to streamline month-end financial close activities; have "one source of truth" with no risks of corrupt links between files or multiple inconsistent versions. Implementing Vena Solutions software has allowed us to shorten month-end close activities by about 50% - we use it extensively to easily produce comparative financial statements, different management reports, dashboards and even automated sub-ledger reconciliations. It does not substitute, but perfectly complements our core ERP system (primary book of record) and fills in the gaps related to subsequent reporting and analysis in a very cost-effective manner. The ease of use and seamless transition from Excel allows for an in-house template and process development subsequent to initial implementation.

Vena Solutions helps us manage our business. We use Vena for our department budget and monthly outlooks. Vena Solutions is an effective tool which manages the workflow process, updates, collection and storage of changing data. Vena Solutions gives us the advantages of database storage (including easy aggregation) while utilizing the analytical and data visualization power of Excel. Our time turn around for gathering data request from upper management and other departments has improved greatly with the use of Vena.

We currently use Vena Solutions for our budgeting process for 270 restaurants spread across 4 legal entities. We will begin rolling out reporting processes to executive and other end users soon, but are currently only using them inside our department.

We use Vena Solutions as our tool for quarterly global financial data collection from our regional hubs. It coordinates the orderly collection and review of data from our hundreds of subsidiaries in order to prepare consolidated reports which enable us to file our SEC reports in a timely and organized manner.

We are currently using Vena to Budget, Forecast, and Report. Vena is being used across our organization Domestically, with plans to roll it out to our international team during Q1 of 2016.

Vena has been helped us create a single source of truth and achieve rapid adoption due to the nature of it being a technology stack that sits on top of Excel, a platform that everyone in our organization is familiar with and comfortable using.

The ability to both send and retrieve information through report and input templates has really help streamline and automate many of our core FP&A processes.

We use Vena for budget, forecasting and long-range planning. Vena helps us manage our spreadsheet distribution and data collection. It takes our data and puts it into a database that automatically consolidates and aggregates our data. We also use Vena to track personnel costs and for forecast timing of new hires.

Vena is used to gather the data for the FR-14A submission to the Fed. Vena collects the data from the various groups that model the data and creates the xml file for submission to the regulator. I have used Vena in this capacity at two CCAR banks.

Vena Solutions is being used by our company to help with our annual budgeting process and also our monthly financial reports. The product is primarily used by our finance team, but we publish financial reports that are used by our managers company-wide. Our current ERP is not very functional and we were manually inputting data into Excel spreadsheets for reporting. Additionally, our annual budgeting process was very complex as we own multiple entities and trying to consolidate all the budgets was very tedious and time-consuming.