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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

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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 8.1

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 7.7

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 8.1

Financial Reporting and Compliance

Financial statements and regulatory filings

8.5
Avg 8.3

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

(305)

Attribute Ratings

Reviews

(26-50 of 214)
Companies can't remove reviews or game the system. Here's why
Score 9 out of 10
Vetted Review
Verified User
Incentivized
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 10 out of 10
Vetted Review
Verified User
Incentivized
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.
Score 10 out of 10
Vetted Review
Verified User
Incentivized
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 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.
May 11, 2023

Good platform

Score 9 out of 10
Vetted Review
Verified User
Incentivized
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 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
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 7 out of 10
Vetted Review
Verified User
Incentivized
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.
Mohamed Salem, CFA | TrustRadius Reviewer
Score 10 out of 10
Vetted Review
Verified User
Incentivized
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
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
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
  • 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 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
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.
Score 10 out of 10
Vetted Review
Verified User
Incentivized
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
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 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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