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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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Recent Reviews

Easy to use....

10 out of 10
March 13, 2024
Incentivized
Vena is currently being used by the Finance department with a potential to extending usage further out to other teams in the organization. …
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Vena Review

9 out of 10
March 09, 2024
Incentivized
We adopted Vena for the preparation of our 2024 budget. Previously we were using Excel spreadsheets, but needed a more streamlined …
Continue reading

Great FP&A tool

10 out of 10
January 05, 2024
Incentivized
Vena is a fantastic tool for any organization and the Vena implementation team is really helpful. I think its a money well invested for …
Continue reading

Vena Review

6 out of 10
December 29, 2023
Incentivized
Vena is being used on a day to day business to support any ad-hoc requests from the finance/accounting side and constantly updating …
Continue reading
Read all reviews

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 48 features
  • Excel-based Reporting (194)
    9.3
    93%
  • Financial budgeting (202)
    9.2
    92%
  • Management reporting (199)
    8.8
    88%
  • Forecasting (193)
    8.6
    86%

Reviewer Pros & Cons

View all pros & cons

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

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.

8.7
Avg 8.0

Ad-hoc Reporting

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

8.1
Avg 8.3

Report Output and Scheduling

Ability to schedule and manager report output.

9
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.

8.1
Avg 7.6

Access Control and Security

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

9.2
Avg 8.7

Mobile Capabilities

Support for mobile devices like smartphones and tablets.

9.1
Avg 8.0

Budgeting, Planning, and Forecasting

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

8.7
Avg 8.3

Consolidation and Close

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

8.4
Avg 8.0

Financial Reporting and Compliance

Financial statements and regulatory filings

8.5
Avg 8.2

Analytics and Reporting

Dashboards and scorecards for KPI monitoring and benchmarking

8.7
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 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 Flat file integration 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

(307)

Attribute Ratings

Reviews

(1-25 of 213)
Companies can't remove reviews or game the system. Here's why
March 13, 2024

Easy to use....

Score 10 out of 10
Vetted Review
Verified User
Incentivized
Vena is currently being used by the Finance department with a potential to extending usage further out to other teams in the organization. Vena is used for producing reports and outputs for various stakeholders; internal and external. Additionally, Vena is currently used for processes including period end, budgeting and forecasting.
March 09, 2024

Vena Review

Score 9 out of 10
Vetted Review
Verified User
Incentivized
We adopted Vena for the preparation of our 2024 budget. Previously we were using Excel spreadsheets, but needed a more streamlined solution to bring all of the parts of our budget together into a final product. Vena allowed us to create detailed revenue and expense budgets, and allocate costs among departments as needed. We were also able to use Vena for our staffing budget and allocations, which was an improvement over our previous process.
Score 10 out of 10
Vetted Review
Verified User
Incentivized
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
January 05, 2024

Great FP&A tool

Score 10 out of 10
Vetted Review
Verified User
Incentivized
Vena is a fantastic tool for any organization and the Vena implementation team is really helpful. I think its a money well invested for financial planning and forecasting. Also a great tool to use for anyone familiar with Excel functionalities. I think we will see great financial results with this implementation.
Shelly Sennikoff | TrustRadius Reviewer
Score 10 out of 10
Vetted Review
Verified User
Incentivized
We use Vena across the entire organization for our annual budget process and monthly financials and forecasting. We also use it to track various other items that support other departments, such as maintaining our program grant awards, providing site codes for our field staff, calculating site staff mileage stipends, etc. Vena has replaced and automated some very manual processes!
Score 9 out of 10
Vetted Review
Verified User
Incentivized
We use Vena across our three operating divisions for Budget/Planning and Forecasting. We also use Vena to maintain corporate level Balanced Score card data with site level granularity for reporting and analytics.
Score 10 out of 10
Vetted Review
Verified User
Incentivized
we use Vena for numerous functions.
1. we use for budgeting and forecast twice a year of operating and capital expenses and workforce. I generate the reports and this is distributed to all 40 department heads for completion.
2. it is used for monthly variance analysis - again distributed to all departments
3. we are in process of implementation of financial reporting where accounting will begin generating all month end financial statements.
this has helped us in numerous ways, especially timeliness of being able to generate the reports and distribute them to all end users, as well as having the data stored centrally and removing the previous issues of human error. It has also helped us in being able to automate a lot of adhoc monthly reports that are usually sent out to certain departments. Once mapping is set in the report template, it's just a matter of making it available and departments are able to access whenever they need. It has technically reduced the amount of time and effort for all finance reporting, which has allowed us to save money by reducing our overall FTE.
December 29, 2023

Vena Review

Score 6 out of 10
Vetted Review
Verified User
Incentivized
Vena is being used on a day to day business to support any ad-hoc requests from the finance/accounting side and constantly updating crucial information interms of monthly and quarterly reporting for the revenue, P&L, and other documentation. We use it as a data center in which we can track previous information in previous years and compare them with one another
Stacy Taute | TrustRadius Reviewer
Score 10 out of 10
Vetted Review
Verified User
Incentivized
Currently, my entire organization is using Vena for budgeting twice a year. It is also being used by our Financial Planning & Analysis team for planning, analyzing, and reporting on a daily basis. Vena was a huge improvement from the tool we were using for budgeting before. It allowed us to set up workflows which made it easier to involve our senior leadership team in the budgeting process and had a short learning curve since it was an excel based tool.
Score 9 out of 10
Vetted Review
Verified User
Incentivized
We just recently implemented Vena and are piloting it across one country of our organization. This solution addresses our budgeting and quarterly reforecasting process which touches all departments in the country, but most specifically Operations and Finance. The use this system to do both our revenue and expense planning and have worked with the Vena team to tailor our templates to our specific needs with specific driver based assumptions. Ex. marketing costs are a % of apartment income, etc.
December 14, 2023

It's the real deal!

Score 10 out of 10
Vetted Review
Verified User
Incentivized
Vena is being used by the finance and payroll department and by budget owners within every department of the organization. It allows us to have a centralized budget management tool and system. It allows us to consolidate our financial data and reporting in one place for more accurate analysis and decision making.
Score 8 out of 10
Vetted Review
Verified User
Incentivized
Our organization uses Vena as the primary source of financial data, which is utilized for financial reporting, analysis, budgeting, forecasting and strategic planning. Currently, folks outside of the finance organization are only accessing Vena during the budgeting cycle, but all departments rely on monthly Vena reports and analysis, provided by Finance. Vena is an essential tool for our business, allowing us to consolidate data from several ERP systems and then use that data for the activities mentioned - financial reporting, analysis, budgeting, forecasting and strategic planning. We rely heavily on Vena to meet our business needs and it continues to deliver.
I have experience with other tools, such as Oracle products, and although there are pros and cons to each, I would certainly recommend Vena to others.
Score 10 out of 10
Vetted Review
Verified User
Incentivized
Vena is used across the whole organization for planning the financials for the next year. Contributors develop their own labor, CAPEX, and expense plans for the following year. Contributors also have access to reports to see how their part of the business is comparing against the plan. The accounting departments uses the reporting feature to send reports to end users.
Score 9 out of 10
Vetted Review
Verified User
Incentivized
We use Vena as a single source of truth for all financial and booking data. We currently use Vena exclusively on the FP&A team but are in the process of leveraging the tool to other business functions.
Heath Bieker | TrustRadius Reviewer
Score 9 out of 10
Vetted Review
Verified User
Incentivized
We have created several customized reports for our organization and plan to use Vena for our monthly variance analysis and annual budget process. Vena is currently only being used by our finance department at the moment, but we plan to roll out Vena to the entire company within the next couple months. Vena will be used by all departments (baseball operations, scouting, technology, engineering, corporate partnerships) for our budget process. Vena has allowed us to have more complex, customized reporting.
Score 10 out of 10
Vetted Review
Verified User
Incentivized
Vena is a versatile platform that can be utilized departments within an organization or across the entire organization. Its capabilities make it valuable for finance, accounting, budgeting, and planning teams. Utilized for financial planning, budgeting, and forecasting. It streamlines the budgeting process, enables collaboration between stakeholders, and provides real-time visibility into financial data and performance.
Score 7 out of 10
Vetted Review
Verified User
Incentivized
Vena is used to automate routine reports that are use on a daily basis. Also, we intend to use Vena for financial reporting as we need data across multiple departments such as sales, finance, and etc. Vena also allows us to save time and report data in a timely manner.
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