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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 …
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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 …
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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 …
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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 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

(26-50 of 214)
Companies can't remove reviews or game the system. Here's why
Score 8 out of 10
Vetted Review
Verified User
Incentivized
Vena is currently being used by our Finance and Accounting Department currently. We use it to forecast our capital spend for construction activities that also involve the feedback and input of many other departments. Using Vena has allowed us to remove all forms of manual manipulations of data and allowed us to refocus efforts into providing value add analysis without tedious repetitive work to produce. The workflow allows for many users to provide their input as well as allow for proper audit controls. Our custom reports that we built were created to poka yoke the process of reporting and make it as easy on our users as possible.
  • Automation
  • Audit control
  • Workflow management
  • Mapping is nuanced and difficult
  • Loading of sheets is slow
  • Clearly explaining the differences between product offerings and linkages
Scenarios where Vena is well suited is for dynamic reporting capabilities for Finance and Accounting as well as consolidation.
Score 9 out of 10
Vetted Review
Verified User
Incentivized
Vena is being used across all departments at the corporate level. As a part of the finance team, I help oversee usage of Vena by a variety of contributors in nearly all departments. We use Vena to connect data contributors, analysts, and data consumers so there is only one source of truth to maintain. There are a variety of problems addressed, including annual planning and budgeting.
  • The way it connects data contributors, analysts, and data consumers so there is only one source of truth to maintain
  • So far it has been very easy to get non-technical employees comfortable enough with Vena to use it effectively as a contributor
  • Documentation and training resources for Vena have been very helpful
  • I have some frustrations with the limits of Vena as it is used in Excel. For example, if contributors filter or sort tables in input forms it often causes issues with the dimension mappings.
  • Vena appears to limit it's connections to Microsoft products. It could be useful to be able to connect to other software.
  • Some aspects of modeling in Vena are very manual, and options to make changes to multiple members at a time is limited.
Vena has worked very well as a way for our finance team to gather current data from a variety of departments. This streamlines the annual planning process and ensures single sources of truth so there is no room for confusion. There are some limits in how well Vena can be used within Excel, but we are generally able to work around that.
Score 9 out of 10
Vetted Review
Verified User
Incentivized
We use Vena for Financial Reporting, Operational Budgeting and just recently Forecasting. Vena is mainly used by the Finance team with annual input from the manufacturing plants for budgeting purposes. All levels of the organization have access to statements or reports specific for their department. This has kept information consistent and accurate.
  • Ease in presentation formatting
  • Handles complicated excel calculations
  • Allows our company to have consistent reports through out all departments
  • Additional training or insite into expressions or calculations
  • Allow all windows/lists to be sorted and be able to add other attributes
  • Do not require having to create a process flow
I believe Vena is well suited for all company sizes.
Score 10 out of 10
Vetted Review
Verified User
Incentivized
The Finance department uses Vena for budgeting and planning, ad hoc reporting, expense analysis, financial statement reporting, and reconciliations. Other departments in the organization use Vena during the annual budgeting process and for monthly expense review and reporting. It provides a standard format to reference across departments and easily compare.
  • Reconciliations
  • Financial reporting
  • Ad hoc reporting
  • Problem-solving (to easily chase down details for variances/etc)
  • Creating and customizing reports can be time-consuming on the front end.
  • The sections and blocks can be difficult to grasp to many end-users (seem duplicative).
  • More standardized best practices templates would be helpful.
Vena is very well suited for reconciliations. It is easy to send out, complete, and review for all parties. The historical reconciliations are also saved in Vena for reference. One area for improvement is the level of complexity for outside users during the budget process. A more straightforward template for users who are only in the software once a year and and are not in the Finance department would be helpful.
May 12, 2023

Vena-ease

Score 10 out of 10
Vetted Review
Verified User
Incentivized
Vena is used across the organization for expense review and budgeting. It is also used by Finance employees for account reconciliations. We are able to pull reports that are user friendly for expense review.
  • Able to create user friendly reports
  • Able to drill on expense details easlily
  • Are able to track progress of quarterly reconciliations
  • Input template mapping or locking and unlocking rows
The reconciliation process saves a lot of time from our manual process.
Score 10 out of 10
Vetted Review
Verified User
Incentivized
Vena was started as a financial planning tool being used by finance but it has since began to be noticed by other departments and will soon be adapted for company-wide usage. Vena allows our business to collect multiple sources of data into one centralized location, this allows the business to be more efficient - saving us time and ultimately money. It also allows us to display KPI's and provide dashboards across the organization for instant gratification for managers and execs alike.
  • Data centralization
  • Time Saver
  • Dashboards and KPIs
  • Budgeting and Forecasting
  • Workflows
  • A little heavy in setup time BUT better to have it setup correctly the first time!
Vena is perfect for organizations both large and small! The budgeting/forecasting process is second to none. If you love Excel - you will LOVE Vena. Vena is built on basis of Excel but addresses all the limitations that Excel provides.

Don't expect to plug and play with this product. There is a need for some personalization depending on your business. All things considered the implementation process is still very quick.
May 11, 2023

Growing experience

Score 6 out of 10
Vetted Review
Verified User
Incentivized
Vena is currently being used by finance and accounting department.
  • generating standard monthly reports
  • creating financial comparisons over multiple periods
  • organizing data in a simple form with the option to "drill down" to get additional information
  • automate live updating of information.
  • create an "app" feature instead of accessing vena through a webpage.
  • more descriptive outline of errors when uploads failed.
Vena is well suited in areas such that require consolidation of data for comparison purposes as well as for budgeting and forecasting. It is also useful for showing or comparing data across different periods ( historical vs current data). It is less appropriate in situations which require a lot of assumptions or input of data from external sources or data reporting that requires research.
Brandon McManus | TrustRadius Reviewer
Score 8 out of 10
Vetted Review
Verified User
Incentivized
Vena is used by Finance and accounting, it is used for budgeting and is beginning to be used for financial analysis and reporting in the accounting department. It solves our need to handle our workload by simplifying tedious tasks and better organizes our financial data so that it can be better utilized by stakeholders in the company
  • creating dynamic reports used on a recurring basis
  • organizing workflow of complex tasks
  • building complex reports in an easy and manageable way
  • difficult implementation process
  • errors when importing from 3rd party software
well-suited in FP&A, budgeting, forecasting, and managing financial reports and templates, good for workflow management and setting up strict processes and version control
May 11, 2023

Good platform

Score 9 out of 10
Vetted Review
Verified User
Incentivized
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
  • training and resources: need more training and recourses to utilizes powerful functions in vena
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.
Score 10 out of 10
Vetted Review
Verified User
Incentivized
Vena is being used for Consolidated company financial statements, divisional and locational financial statements, budgeting and forecasting. It is primarily in the control of the accounting departments but sales and operations all have reports designed and suited to their financial reporting needs. This keeps everyone in the same platform and viewing the same data without having to create their reports or rely on inaccurate information.
  • Excel based financial statement
  • System integration
  • Data Visualization
  • More access to additional reporting
  • Support from community and other users
  • System speed
Vena does a great job consolidating multiple data sources from multi platforms in to one connected database that can be oriented in a way that makes sense for your organization. Built on Excel, you have the ability to pull and layer the data into highly functional and customizable reports to provide good information for all departments and users.
May 11, 2023

Vena review

Score 9 out of 10
Vetted Review
Verified User
Incentivized
Our organization uses Vena for budgeting, forecasting, FP&A, and balances and transactions reporting. In November of each year we distribute fillable budget templates to our budget managers who populate them with their applicable budget and supporting documents. We also use Vena to forecast our approaching year ends in a similar manner.
  • enable alternative hierarchies
  • end presentation format acceptable for executive reporting
  • integration with Excel functionalities
  • Cannot see any visual identifiers (like blue fonting) to mark where drilldown is possible
  • Rendering speed could be improved (only able to effectively load 3 years of transaction history)
  • Building complex reports needs IT support
Vena is great for FP&A analysis, budget and forecasting. We are also trying to use it as a transaction tool for our accounting department and it is here where we are running into challenges. Our accounting department needs to drill through balance sheet detail often more than 3 years. Since we have 13 hierarchies we are finding the rendering speed not sufficient and so have had to restrict our model to 3 years of transaction data.
Score 8 out of 10
Vetted Review
Verified User
Incentivized
Vena is used in the Financial statement, financial planning and budgeting functions of my organization. It is used by both the operations and finance teams at the organization, and allows us to relay dashboards and map workflows in the department.
  • Budgeting process is made easy
  • Workflow process allows for better integration
  • Documentation and ability to develop, share and revert templates.
  • It is easy to destroy templates through incorrect use
  • If any changes are made to files where mapping is affected, it severely and negatively affects the running of the file.
It is very well suited to share dashboards with operations teams, and for budgeting. It is less appropriate for a more functional and interactive dashboard to be shared.
Score 7 out of 10
Vetted Review
Verified User
Incentivized
Vena is being used to help with budgeting and forecasting in my department and also acts as a way to obtain information from our ERP system. It is currently being used in our accounting and finance team. It saves a lot of time during month-end processes when we need to summarize accounting balances and do variance analyses because Vena is able to summarize and compare them all in one report as opposed to generating several reports to produce the same outcome.
  • Summarization of consolidated information.
  • Ease of use.
  • Time-Saving.
  • More customization available to the user (user can explore options).
  • software implementation process should be faster.
  • A summary of all the functions available for use by the user.
In my experience, Vena was mostly well suited for forecasting and budgeting and also for variance analyses to crack down on cost consumption and identify areas of improvement from an operational standpoint. Areas where Vena is less appropriate to be used is on ad hoc analyses need to be performed on single accounts in our GL system.
Score 9 out of 10
Vetted Review
Verified User
Incentivized
We currently use Vena for all our reporting and forecasting needs. We replaced our Excel forecasting template with a Vena template. We are very pleased with the consolidation help the software provides and recently decided to have all of our raises and reviews done in Vena, which allowed for significantly more visibility on the data integrity.
  • Consolidation - have saved so many hours by not having to manually consolidate spreadsheets
  • Audit trail history - we were able to find out who made a change that was questionable
  • Drillable feature that allows our users to drill into the details of financials
  • Ease of use
  • Sometimes the templates are a bit complicated to use and could be a little bit more straightforward if all the dimensions are defined in the workbook.
  • I would make the security easier to use.
  • Helpdesk
We were able to build a template for information we wanted to be consolidated on our own because the Vena Solutions system is so user-friendly.
Mohamed Salem, CFA | TrustRadius Reviewer
Score 10 out of 10
Vetted Review
Verified User
Incentivized
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
  • Can't think of anything
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.
Henry Anthony Simmons Green | TrustRadius Reviewer
Score 8 out of 10
Vetted Review
Verified User
Incentivized
With Vena Solutions, I have the knowledge of well-documented financial analysis. I can establish parameters for better compliance with our goals and cost savings. We use it for SOX compliance. We always viewed the daily data reports and monthly I have a good statistical analysis of the monthly reports. The only thing wrong with Vena is the long learning curve.
  • We use it for SOX compliance.
  • Daily and monthly financial analysis.
  • It allows us to create a multi-cube structure.
  • Long learning curve.
  • If you manage to overcome the long learning curve you will no longer have any problems.
Every company needs data analysis, with Vena the data reports can be daily, weekly, or monthly and this allows a detailed and useful statistical analysis. It allows us to create a multi-cube structure and we use it for SOX compliance. Simply, every company must use Vela daily and my opinion is positive in my direct experience.
Score 8 out of 10
Vetted Review
Verified User
Incentivized
We are using Vena as a budgeting/forecasting tool as well as financial reporting for our company. The organization as a whole is using the software. This system replaced a very antiquated software that was not user friendly.
  • Ease of use, very intuitive
  • Dynamic and flexible for the various business needs
  • Drill features allow total visibility from a roll up down to a ledger transaction.
  • HR module is not as seamless as the financial side
  • System processes can be limiting at times
  • Developers can be slow to react to an issue
Budgeting and forecasting - I have used a lot of budgeting tools, but Vena stands out as a solid tool for our organization and myself. It has seamless reporting, real time updates, total visibility and can be managed very well centrally.

Subledger detail from a sub system is best suited to be researched on that platform. Vena can give you the end product or even some detail in the middle. However, true lower-level detail is suited for your other systems.
Score 10 out of 10
Vetted Review
Verified User
Incentivized
Vena is currently only in use for the Finance Department, and it has been an immense 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
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.
Score 10 out of 10
Vetted Review
Verified User
Incentivized
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 8 out of 10
Vetted Review
Verified User
Incentivized
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
Incentivized
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
Incentivized
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
Incentivized
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.
October 26, 2022

VENA tool for FP&A.

Score 9 out of 10
Vetted Review
Verified User
Incentivized
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
Incentivized
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.
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