Vena Reviews and Ratings

Rating: 8.2 out of 10

Score

8.2 out of 10

Community insights

TrustRadius Insights for Vena are summaries of user sentiment data from TrustRadius reviews and, when necessary, third party data sources.

Pros

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.

Reviews

298 Reviews

Vena - Excel Modeling's Partner

Rating: 9 out of 10

Incentivized

May 14, 2022

Use Cases and Deployment Scope

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. It is able to handle vendor level forecasting and reporting. 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.

Pros

Dynamic expansion and mapping.
Integrations with other tools.
Data and file storage in the cloud.
Versatile.
Cascade report feature.

Cons

Template automation encountering issues due to certain excel functions used.
Mac users often have issues.
There should be a built-in option to automatically overwrite actual periods with actual data in forecast scenarios.
Users must be proficient in Excel to use Vena to its full potential.
Some technical knowledge is required to set up ETLs, but can engage support and EMS for help.
Increasing entities substantially will slow down performance of workforce planning.

Likelihood to Recommend

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.

Choy Chu

Manager of FP&A in Finance and Accounting at Pipedrive (501-1000 employees)

Vetted Review

1 year of experience

Top Notch Support

Rating: 10 out of 10

May 14, 2022

Use Cases and Deployment Scope

We utilize Vena currently for the forecasting and budgeting process. We are looking to expand into month-end close procedures as well. Vena works very well for our purpose as it's in a tool we are very familiar with in excel.

Pros

Top Notch Support.
Quick Turnaround times to meet deadlines.
Familiar tool in using excel.

Cons

Single Sign On.
More connectors with lessor known ERPs.

Likelihood to Recommend

This works very well with our current powerBI build. This updates regularly and without much lift.

Steve Vosburg

Senior Manager - Financial Planning and Analysis in Finance and Accounting at Phillips Pet Food & Supplies (1001-5000 employees)

Vetted Review

2 years of experience

View profile

Vena is great!

Rating: 9 out of 10

May 14, 2022

Pros

Modeling
Reporting
Analysis

Cons

Integration
Version history
More templates

Likelihood to Recommend

Vena is being used by our company to tie all areas of the company together to achieve a complete budget function. It has also fostered a deeper relationship with our data, by allowing us to gain additional insights. Our sales team has been empowered to own more of the budget process, giving them more incentive to complete tasks on time and accurately.

Verified User

Manager in Finance and Accounting (1001-5000 employees)

Vetted Review

1 year of experience

Quick and easy

Rating: 10 out of 10

Incentivized

May 14, 2022

Use Cases and Deployment Scope

We use it for budgeting, financial statements, and reporting. Mostly Accounting but trying to get other departments involved such as payroll. Helps create reports quickly and get them to the end-user quickly.

Pros

Integrating different information.
Variable process - when you go from one period to the next all reports auto-adjust to the new period.
Easy to formatting your information.

Cons

The training videos are great, but sometimes asking questions one-on-one would be nice.
Provide best practice on creating reports with graphs and such.

Likelihood to Recommend

Vena helps to create reports for any location very quickly. It helps at budget time when multiple users can update information for the budget year at the same time. During budgeting, for people to make changes to the system without uploading and downloading information. I just started using it myself so still learning.

Judy Dam

Senior Accountant of GL in Finance and Accounting at White Castle (1001-5000 employees)

Vetted Review

1 year of experience

View profile

Customer Review

Rating: 9 out of 10

Incentivized

May 14, 2022

Use Cases and Deployment Scope

We have currently implemented Vena for our finance team. It has greatly reduced the amount of manual work in spreadsheets and helped improve our finance reporting. The ability to expedite month-end reports has allowed us to send out reports in a more timely fashion, while at the same time exploring ways to create new reports that provide value add info for the users.

Pros

Report Building.
Compatibility

Cons

Easier to pull data.

Likelihood to Recommend

Vena is well suited for building out static reports, especially when they are consistent month over month. It becomes a bit more difficult in a scenario where new GL accounts are consistently created and dynasticism is lost.

Verified User

Manager in Finance and Accounting (11-50 employees)

Vetted Review

1 year of experience

Game Changing FP&A Platform

Rating: 10 out of 10

Incentivized

May 14, 2022

Use Cases and Deployment Scope

Vena is used by every department in our budget planning and reporting cycles. It is also used for Financial Reporting (Income Statement, Balance Sheet, Trial Balance, etc.). We have most recently added a Revenue Forecasting cube to our mix, and have had a very easy time getting both of our models talking to each other so that we can easily serve up the proper story to our end users.

Pros

Users enjoy a familiar interface for accessing reporting and budget planning: Excel
Integrations, ETL, and mappings are very intuitive and the UX is stellar
No additional cost for adding data cubes/models
Very flexible, customizable, and scalable
Filtering is very simple, and they allow you to import line level information so that drill-downs and cascades are simple to do
It has a native integration to PowerBI which is amazing to get your data visualization up and running in no time

Cons

Native Analytics
Expanded ETL Functions
More industry-specific tailored solutions and templates

Likelihood to Recommend

Whenever you have a massive amount of data, whether centralized or disparate, you can bring it into Vena to organize, slice and dice, and report on. Financials, Headcount, Compensation, OPEX, you name it--they have a solution ready to be stood up within a week (how long it took in our experience to get us started).

Noris Pasic

ERP Systems Analyst in Finance and Accounting at Listrak (201-500 employees)

Vetted Review

1 year of experience

View profile

Comprehensive Reporting Tool

Rating: 8 out of 10

Incentivized

March 31, 2022

Use Cases and Deployment Scope

Vena is being used by our accounting departments for budgeting and reporting needs. During the budget season, mill managers will use it to input their budget and the rest of the year accounting staff uses it for forecasting and for creating reports. Our current financial programs do not have a lot of report tools, so this has been very helpful to be able create/write useful tools.

Pros

Being able to create useful reporting tools.
Being able to restrict user permissions.
Ease of not having to learn a new program because everything is written in Excel.

Cons

To increase the speed of opening files, especially if using LIDS.

Likelihood to Recommend

If you have a financial system that does not provide useful reporting tools, Vena is very well suited. If you can get the financial data out of your system, you can write basically any report you would want using Vena.

Verified User

Employee in Finance and Accounting (1001-5000 employees)

Vetted Review

2 years of experience

Vena is Great!

Rating: 9 out of 10

Incentivized

February 24, 2022

Use Cases and Deployment Scope

In our organization, Vena is a cross-functional tool used to consolidate multiple entities, report entity, and consolidated performance, and prepare entity and consolidated budgets and forecasts.

Pros

Consolidation of multiple entities on varying ERP platforms
Drives collaboration between functional/operational employees and finance employees
Vena is easy to use and user adoption is high due to Vena's direct interface with Microsoft Excel

Cons

Dashboard/KPI reporting capabilities within the Vena online experience
Expand the number of ERPs supported by direct integration

Likelihood to Recommend

Vena is great for organizations with multiple entities and multiple ERP platforms. Vena is great for driving collaboration between the business/operation departments and the finance department.

Verified User

Director in Finance and Accounting (1001-5000 employees)

Vetted Review

2 years of experience

Your imagination at work with Vena!

Rating: 10 out of 10

Incentivized

February 24, 2022

Use Cases and Deployment Scope

Vena is currently an integral part of accounting and finance for our business. We utilize Vena for Account reconciliations, budgeting, report and forecast, planning, and analysis. In addition to the traditional uses, we have implemented data capture and flow-throughs for sales tax reporting, revenue balancing and entry, and various supplemental reporting. We have hooked in our Account payable system to provide a wider view when budget managers and auditors have questions on expenses.

Pros

Cloud based delivery of information and audit trail.
Data warehouse approach for gather and report.
Attribute to conform reporting for audit and outside parties.
Easy to train, use, and produce useful workbooks.

Cons

Refresher training for current customers.
Training courses when quarterly changes roll out.

Likelihood to Recommend

I have been amazed by the various uses Vena can provide. If you can dream it up, Vena can deliver it! They work with you as a partner, not just another vendor. You are not just another customer for them.

Verified User

Director in Finance and Accounting (201-500 employees)

Vetted Review

3 years of experience

Ven-tastic Experience

Rating: 10 out of 10

Incentivized

February 23, 2022

Use Cases and Deployment Scope

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.

Pros

Forecasting
Analysis
Strategic Planning
Reporting
Data input/Interaction

Cons

Vena's support of Apple products needs improvement
Mobile device access and support
Depth of technical knowledgebase articles
AI capabilities

Likelihood to Recommend

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.

Verified User

Director in Finance and Accounting (1001-5000 employees)

Vetted Review

5 years of experience

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Reviews and Ratings

Vena - Excel Modeling's Partner

Rating: 9 out of 10

Incentivized

May 14, 2022

Use Cases and Deployment Scope

Pros

Dynamic expansion and mapping.
Integrations with other tools.
Data and file storage in the cloud.
Versatile.
Cascade report feature.

Cons

Template automation encountering issues due to certain excel functions used.
Mac users often have issues.
There should be a built-in option to automatically overwrite actual periods with actual data in forecast scenarios.
Users must be proficient in Excel to use Vena to its full potential.
Some technical knowledge is required to set up ETLs, but can engage support and EMS for help.
Increasing entities substantially will slow down performance of workforce planning.

Likelihood to Recommend

Choy Chu

Manager of FP&A in Finance and Accounting at Pipedrive (501-1000 employees)

Vetted Review

1 year of experience